Manitou has spent three years assembling an enormous 350sq km land package and is currently drill testing 18km of contiguous strike along the Baltimore deformation zone (BDZ). There has historically been almost zero drilling on this land package for a number of reasons including fractured ownership.
To date Manitou has outlined a crustal scale system over 2.2km of strike and down to 500m at depth.
The company is fully funded to complete its announced and planned program after having recently completed a $5mm flow-through financing with both its strategic shareholders participating for their prorata ownership: Alamos Gold (AGI-TSX) at 19.9% and O3 Mining (OIII-TSXV) at 9.9%.
In 2020, both Alamos and O3 each exercised their rights to appoint representatives on the Manitou Board- with Alamos appointing their COO and O3 appointing their CFO.
Management of Manitou owns approximately 20% of the company and has participated on every financing including the most recent flow through deal.