Vancouver, British Columbia--(Newsfile Corp. - March 7, 2024) - Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) ("Sanu Gold" or the "Company") is pleased to announce the results from further surface sampling at the Company's flagship Bantabaye gold exploration permit ("Bantabaye" or the "Permit") in Guinea, West Africa. The Permit, which lies on the western margin of Guinea's prolific Siguiri Basin, is located approximately 50 km1]south of the multi-million ounce Lefa Gold Mine and 80 km north of the multi-million ounce Bankan Gold Project.
Highlights
Extensive Gold at Surface: 80 mof 1.46 g/t Au, including 7 m of 4.1 g/t Au in Trench BANT-TR05 at Target 7.
Potential for a Significant Gold System: This trench sampled strongly deformed and hydrothermally altered felsic volcanics with individual trench samples returning up to 1 m of 14.8 g/t Au.
Additional Exploration Upside: This Trench is located at Target 7, where initial drilling intersected gold mineralization along a 500 m long section of the Tinkisso Fault. The mineralized structure remains open to the south.
High-Grade Samples: Rock chip samples collected in proximity to this Trench returned grades of up to 20.2 g/t Au.
Martin Pawlitschek, President, and CEO commented: "The results from trench BANT-TR-05 are further confirmation that mineralization at Bantabaye is hosted in an altered and deformed felsic unit, and at Target 7 appears very similar in style to the what was intersected at T2, which is located 1.2 km to the west and delivered 15 m of 11.4 g/t Au, including 4 m of 41.2 g/t Au. Furthermore, the targets are all linked by very prominent trends visible in the ongoing ground geophysics."
Target 7
BANT-TR-05, located at Target 7, is oriented north south, has a length of 124m and an average depth of 3m (Figure 1). Trench BANT-TR-05 exposes saprolitized bedrock of strongly deformed and hydrothermally altered felsic intrusive (Figure 1 and Table 1). The rock is generally brecciated with stringers of quartz veinlets stockworks and boxwork after sulphide. The trench was sampled at 1 meter interval and 27 samples returned gold values over 1 g/t with the highest being 14.84 g/t, 12.65 g/t, 9.83 g/t, 7.77 g/t and 6.04 g/tAu. BANT-TR-05 returned 80 m of 1.46 g/t Au, including 7 m of 4.1 g/t Au and further 4 m of 1.02 g/t Au at the northern end of the trench (Figure 1 and Table 1)
Previous reported Channel sampling along access track exposures at Target 7 returned 40 m of 1.2 g/t Au, including 4 m of 5.4 g/t Au in channel BANT-TR-03 (see the Sanu Gold news release dated September 12, 2023) and Channel BANT-TR-01 which returned 43 m of 1.1 g/t Au, including 6 m of 4.2 g/t Au (see the Sanu Gold news release dated Sept. 6, 2023). Both channel sample intervals ended in mineralization in both directions. The opening of BANT-TR-05 was targeted to locate the end of the mineralized system.
An additional 6 rock chip grab samples were collected from saprolitized felsic intrusive rock at Target 7 in proximity to BANT-TR-05 and returned values of up to 20.23 g/t Au (Figure 1 and Table 2). These samples were comprised of highly sheared, hydrothermally altered and locally brecciated felsic intrusive with stringers of quartz veinlets and boxwork after sulphide.
Figure 1: Target 7 map showing drill holes, BANT-TR-05, rock chip samples and previous channel sample intervals from BANT-TR01 and 03.
Gold mineralization at Target 7 is associated with a northwest striking and shallowly southwest dipping felsic intrusive that extends for over 700 m along strike and 150 m in width. The Company has drilled a total of 1,603 m in 14 RC holes at Target 7. Highlights from this drilling included:
0.91 g/t Au over 9 m, including 1.55 g/t Au over 1 m and 2.11 g/t Au over 2 m (BANT-RC-23), and
0.87 g/t Au over 13 m, including 1.65 g/t Au over 3 m and further downhole 3.47 g/t Au over 1 m (BANT-RC-22).
Target 7 is located within a 700 m long area extensively worked by small-scale artisanal miners. Drilling to date at this target has not intersected the high-grade mineralization exploited by artisanal miners and it is interpreted that the relatively shallow drilling completed to date has been exclusively within areas where the high-grade mineralization has been mined out from surface to at least 60-70m.
Results from BANT-TR-05, and rock chip samples, combined with previous channel sampling and initial drill results from Target 7 confirm the presence of an extensive gold mineralized corridor associated with altered and deformed felsic intrusive rock. Mineralization is open in all directions and ongoing work, including Induced polarization (IP) geophysics is focused on delineating targets for the next phase of drilling at Bantabaye.
Table 1: Bantabaye Trench intercepts.
Hole ID
X-UTM
Y-UTM
Length
Au
Interval
(m)
(g/t)
(m)
BANT-TR-005
359 318
1 252 956
124
1.46
80
including
4.1
7
and
8.43
3
Table 2: Bantabaye Target 7: Rock chip sample results.
SAMPLE ID
X-UTM
Y-UTM
Z-UTM
Au (g/t)
Target
BANT-20322
359 320
1 252 982
460
0.2
T7
BANT-20323
359 317
1 252 980
470
0.28
T7
BANT-20324
359 387
1 252 993
489
0.03
T7
BANT-20325
359 377
1 252 946
480
2.62
T7
BANT-20326
360 033
1 252 644
479
0.1
T7
BANT-20327
359 303
1 252 989
505
20.23
T7
Next Steps
The trench results will be integrated into the on-going geophysics program to finalize the drilling program which is planned to commence in late March 2024.
Quality Assurance / Quality Control ("QA/QC")
Sampling was completed following industry best practices, conducted under the supervision of the Company's project geologists and the chain of custody from the project to the sample preparation facility was continuously monitored. An appropriate number and type of certified reference materials (standards) and blanks totaling 5% of the total number of samples shipped to the laboratory was inserted approximately every 20th sample to ensure an effective QA/QC program was carried out. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results. All samples were analyzed using Fire Assay (FA505) at the SGS Laboratory in Bamako, Mali ("SGS"). SGS is an internationally recognized and commercially certified laboratory and is independent of Sanu Gold.
Qualified Person
The scientific and technical information contained in this press release has been reviewed and approved by Serigne Dieng, Ph.D., M.Sc., a Member (MAIG) of the Australian Institute of Geoscientists (AIG), Exploration Manager of the Company and a qualified person within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Sanu Gold
Located within Guinea's Siguiri Basin, a world class gold district that is host to several operating mines and major new discoveries, Sanu Gold is exploring three high quality gold exploration permits. The Company is targeting multi-million ounce gold deposits and has discovered high grade gold mineralization in the inaugural drill programs at both Bantabaye and Daina. Sanu is operated by a highly experienced team, with successful records of discovery, resource development and mine permitting in West Africa.
Martin Pawlitschek President & CEO, Sanu Gold Corp.
For further information regarding Sanu Gold, please visit the Company's website at www.sanugoldcorp.com or contact:
This news release contains certain statements that may be deemed "forward-looking statements" with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicates", "opportunity", "possible" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Sanu Gold believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's plans for exploration on its properties and ability to execute on plans, ability to raise sufficient capital to fund its obligations under its property agreements going forward, ability to maintain its material property agreements, mineral tenures and concessions in good standing, to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associated with mineral exploration and mining operations, future prices of gold and other metals, changes in general economic conditions and local risks in the jurisdiction (Guinea) in which it operates, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
1kilometres ("km"), metres ("m"), grams of gold per tonne ("g/t Au").
