Vancouver, British Columbia--(Newsfile Corp. - March 22, 2024) - Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) ("Sanu Gold" or the "Company") is pleased to announce positive results from the recent ground geophysics program completed on the Company's Daina Gold Exploration Permit ("Daina"), located in the prolific Siguiri Basin of Guinea, West Africa.
Highlights
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Targets Ready to Drill: There are large targets highlighted at Daina 1 South and Daina 6 targets.
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Gold at Surface: Past drilling, recent trenching and rock chip sampling demonstrate high-grade gold mineralization at these targets:
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9 m of 7.97 g/t Au in trench DAI-TR-007 at Daina 1 South,
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Rock chip samples as high as 61.6 g/t Au, 22.3 g/t Au and 20 g/t Au across the Daina 1 South and Daina 6 target areas.
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1m of 36.2 g/t Au from drill hole DAI-RC-021 at Daina 6
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Size and Scale: The geophysical surveys have identified significant trends of chargeability and resistivity in the areas of known gold mineralization and along the trend of the surface gold anomalies which extend for over 1 km at both the Daina 1 and Daina 6 targets.
Martin Pawlitschek, President, and CEO of Sanu Gold commented: "The relatively small programs of induced polarization (IP) over some of our key targets at Daina extensive strike lengths of highly interesting suggest chargeability and resistivity trends, in many cases aligned with our surface gold geochemistry. These initial surveys and their results demonstrate that this type of survey also adds value at the Daina permit. While in the near term Bantabaye remains the main focus, the survey results confirm that significant strike length of mineralized structures remain untested."
Program Summary
The ground geophysical survey program consisted of 21 line-km of 200m spaced and east-west oriented Gradient Induced Polarization (IP) lines. Four blocks have been completed covering all priority targets including the Daina 1 South, Daina 1 North, Daina 2 Main Zone, and Daina 6 target areas within the Daina Project.
The survey was completed by SAGAX Afrique of Ouagadougou, Burkina Faso using the IP method. SAGAX is well experienced in these types of surveys over many other deposits in the region. This release reports on the results from the Daina 1 South and Daina 6 targets. Compilation of results from Daina 2 and Daina 1 North are still ongoing.
The objective of this ground geophysical survey program was the detection and delineation of geophysical features (chargeability and resistivity) and structures which may indicate favorable zones for gold mineralization in the covered targets and to help further with assessing the potential of the targets for future drill testing. The results of this program show that the IP surveys delineate distinct features that help map the mineralized zones and that there is significant undrilled strike potential at Daina 1 South and Daina 6.
Daina 1 South
The Program consists of six east-west oriented lines, totaling 6.3 line Km of 200m spaced of Gradient Array IP/Resistivity (Figure 1). The survey identified the presence of a large zone of high chargeability trending NNW, following the main trend of the gold anomalies defined by auger sampling and surface geochemistry.
This area of elevated chargeability extends for at least 1.2 km and is open to the south. The trend of high chargeability is close to recent results obtained at Daina 1 South (Figure 1):
- Trench DAI-TR-007: 9 m of 7.97 g/t Au, including 3 m of 21.75 g/t Au and
- Auger hole: 3 m of 6.59 g/t Au, including 2 m of 6.48 g/t Au (DAI-AUG-1250) and 9 m of 2.26 g/t Au, including 2 m of 9.78 g/t Au (DAI-AUG-1246) from the 2021/2022 auger programs
- High-grade gold in rock chip samples including 61.6 g/t Au, 16.2 g/t Au and 12.8 g/t Au (Figure 1).
Daina 6 Target
The geophysics survey consisted of four east-west oriented lines, totaling 5.5 line Km of 200m spaced of Gradient Array IP/Resistivity (Figure 2). The results from this survey indicate that the Daina 6 target sits in an extensive zone of high chargeability trending NNW (Figure 2). This area of elevated chargeability is open to the south and the north and is consistent with observations of rock chips in auger, RC holes and exposed saprolite in artisanal working pits that consist of strongly hydrothermally altered coarse-grained greywacke invaded by zones of quartz vein stockwork and breccia with high-sulphide content (Pyrite and arsenopyrite) and boxwork after oxidized, disseminated sulphide in fractures and breccia zones that contain the high-grade gold mineralization.
Previous results at Daina 6 include 8 m of 1.97 g/t Au, including 2 m of 7.36 g/t Au (DAI-AUG-1164) (see Sanu Gold news release dated July 29, 2022), 9 m of 1.2 g/t Au (DAI-TR-015) and 3 m of 4.66 g/t Au, including 1 m of 12.6 g/t Au (DAI-TR-016) and high grades in rock chips samples collected in working pits including 10.6 g/t, 9.11 g/t, 7.02 g/t, 6.56 g/t, 6 g/t, 3.47 g/t, 3.09 g/t, and 2.79 g/t Au (Figure 2). These rock chips samples consisted of strongly hydrothermally altered coarse-grained greywacke invaded by zones of quartz vein stockwork and boxwork that contain high gold mineralization (see Sanu Gold news release dated March 15, 2024.
Next Steps
While the Company is focused on preparing the for the drilling program at Bantabaye, it will in parallel evaluate and progress the key targets on its other properties for future drill testing. Additional data from Daina includes IP from targets Daina 1 North and Daina 2, where previous drilling returned very encouraging drill intercepts. The data from these two targets is still being processed and evaluated and will be released as soon as this is finalized.
Figure 1: Target Daina 1 South, Chargeability trend with anomalies, rock samples, trenches, drill collars and artisanal workings.
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https://images.newsfilecorp.com/files/8941/202690_46bae130a401fb06_001full.jpg
Figure 2: Target Daina 6 Chargeability trend with anomalies, rock samples, trenches, drill collars and artisanal workings.
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https://images.newsfilecorp.com/files/8941/202690_46bae130a401fb06_002full.jpg
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 as 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 FAA505 at the SGS Laboratory in Bamako, Mali ("SGS"). SGS is an internationally recognized and commercially certified laboratory and is independent of Sanu Gold.
The Company is being advised on the IP survey by in3D Geoscience Inc., an independent geophysical consulting firm based in British Columbia. The data collection survey is subject to standard contractors' protocols including:
- daily checking of equipment
- signal/noise ratio monitoring.
- Checking of extreme readings
- Verification of equipment locations
- Monitoring of measurement cycles
- Data is checked at the end of each day by a team at the SAGAX Head Office.
Sanu's geophysicists and SAGAX regularly review and discuss the progress of the work, program adjustments, data quality and modelling parameters.
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 NI 43-101.
The technical information with respect to the geophysical data contained in this press release has been reviewed and approved by Todd Ballantyne, P.Geo., a member of Engineers and Geoscientists of British Columbia, independent geophysical consultant (through in3D Geoscience Inc.) to the Company and a qualified person within the meaning of NI 43-101.
About Sanu
Located within the world class Siguiri Basin, host to several operating mines, Sanu is exploring three high quality gold exploration permits in Guinea, West Africa targeting multi-million-ounce gold discoveries. The Company has defined multi-kilometer scale gold bearing structures on each of the gold exploration permits, with multiple high-value drill targets. Sanu is operated by a highly experienced team with successful records of discovery, resource development and mine permitting.
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:
Anthony Simone
Simone Capital
416-881-5154
asimone@simonecapital.ca
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
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 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, permits 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.
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