Cross River identifies targets at Manitou

Feb 25, 2021

2021-02-25 11:51 ET – News Release

Mr. Alex Klenman reports

CROSS RIVER REFINES EXPLORATION TARGETS AT THE MANITOU GOLD PROJECT, NW ONTARIO, CANADA

The Cross River Ventures Corp. technical team’s continuing data compilation and historical review has identified several promising gold targets at its 100-per-cent-owned, 5,156-hectare Manitou gold project, located within the Uchi subprovince, Northwest Ontario, Canada.

Exploration at the Manitou property began in the early 1900s with trenching and minor gold production. Modern exploration began in 1965 and continued through 2015 with several companies and small-scale vendors conducting a variety of exploration programs. Reviewing timelines of the limited historical work suggests periods of lower gold prices interrupted steady exploration on the property. The technical team’s review of work at Manitou shows the potential for shear-zone-hosted gold.

The Manitou gold property is located within the eastern margin of the Archean Eagle-Wabigoon-Manitou Lakes greenstone belt approximately 40 kilometres south of the community of Dryden. This area has undergone extensive exploration from the 1950s to present day, and the property itself has seen several drill campaigns and sampling programs. Continuing activity in this belt by others has uncovered several north-northeast structural zones that rank high for gold potential and the property is situated along the possible extension of these gold-bearing shear zones.

The Manitou property is underlain by mafic to felsic metavolcanic rocks locally intruded by granodiorite porphyries, which are intensely altered and contain significant sulphide mineralization. Deformation and alteration are extensive on the property, with regional-scale faults cutting northeast and shear zones trending north-northeast. Numerous developed prospects with historic production are situated along the same northeast-trending fault zone in close proximity to the property, including the Elora mine located 500 m to the northeast of the property (drill intercepts noted up to 216.85 grams per tonne Au over 0.3 m and 15.5 g/t Au over 6.9 m (MDI 52F07NE 00015)).

The Ontario Mineral Database records 16 gold occurrences within the land position, most of which contain shear-hosted gold and sulphide mineralization. Several of the occurrences were mined and variable amounts of ore were historically extracted from small-scale workings. Numerous high-grade gold samples have been collected (for example, 78.1 g/t Au grab sample from the Bird Island occurrence (MDI 152F07NW00008)).

The company is continuing data compilation, review and analysis on all of its Northwest Ontario projects. A series of airborne geophysical surveys are planned for Q2 to further delineate priority target areas before groundwork is set to begin late spring and into the summer months. Once targeting is complete, the company plans to drill test the highest-priority areas.

Note: Grab samples are selective by nature and may not represent the true grade or style of mineralization across the property

The technical content disclosed in this press release was reviewed and approved by Dr. Rob Carpenter, PGeo, PhD, a qualified person as defined under National Instrument 43-101. Historical assay results contained in this press release were not verified by the company; however, the historical reports referenced were written by experienced geoscientists, and copies of laboratory assay sheets were commonly inserted in the reports.

About Cross River Ventures Corp.

Cross River is a gold exploration company that is focused on the development of top-tier exploration properties in premier mining districts. The company controls a multiple-project portfolio in Northwest Ontario, Canada, with highly prospective ground in and among prolific, gold-bearing greenstone belts. The company also owns an option to acquire a 100-per-cent undivided interest in the Tahsis property, an early-stage gold exploration property located on Vancouver Island, in the Nanaimo mining division, British Columbia.

We seek Safe Harbor.

https://crossriverventures.com/