Drilling fully funded through recent strategic investments from AngloGold Ashanti and Capital DI.
Vancouver, British Columbia--(Newsfile Corp. - October 18, 2024) - Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) ("Sanu Gold" or the "Company") is pleased to announce its phase 1 drilling plans for the Diguifara project in Guinea. The project is located only 20km from the Siguiri gold mine which is owned and operated by AngloGold Ashanti plc ("AngloGold Ashanti"). The drilling will be completed by Capital Limited which has extensive experience in drilling out large deposits in Guinea and whose investment arm (Capital DI) heavily participated in Sanu Gold's last financing
- Undrilled High Potential Targets: The Diguifara permit features three undrilled high priority targets that cover a cumulative strike length of 3.2 km where anomalous auger-in-soil samples reach as high as 4.8 g/t Au.
- Vectoring Towards Gold: The targets were selected based on overlapping prospective features with data sources that include termite mound, auger and bedrock sample data along with geophysics.
- Collaborative Approach to Discovery: The Company has formed a joint technical committee with AngloGold Ashanti to plan all exploration at Diguifara and benefits greatly from AngloGold Ashanti's deep experience in Guinea.
- Initial Program Imminent: A minimum of 2,000 m of air core and RC drilling in 19 holes is planned with equipment currently being mobilized and drilling expected to begin in the second half of October.
- Proximity to a Large Gold Mine: The project is located only 20 km from the Siguiri Mine which currently produced 221,000 oz of gold annually1 and is 85% owned by AngloGold Ashanti.
Martin Pawlitschek, President, and CEO of Sanu Gold commented: "We are excited to be preparing for the inaugural drilling program over our Diguifara permit. Previous phases of work included extensive surface geochemistry, auger sampling of the weathered bedrock underneath the laterite overburden and ground geophysical surveys."
1 References to nearby properties are for information purposes only and there is no assurances that the Company will achieve the same results. https://www.anglogoldashanti.com/portfolio/africa/siguiri/
Program Summary:
Equipment and field crews are in place on Diguifara to prepare for the upcoming drilling program which will include access roads and drill pad preparations as well as community engagement. Drilling is scheduled to begin in the second half of October. The program has been designed together with AngloGold Ashanti (AGA) and will include an initial phase of Air Core and RC drilling across three priority targets - Dig 1, Dig 2 and Dig 3.
Figure 1. Diguifara Permit, Sanu Gold Targets, major mining company permits, regional structures, gold mines and prospects.
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Dig 1
This target is defined by anomalous gold values from saprolite auger sampling. Peak values of up to 4.8 g/t Au have been obtained from the target. The gold trend parallels a feature visible in the chargeability and resistivity geophysics (Figure 2).
Recent ground truthing has also highlighted significant new artisanal mining in the weathered bedrock in the central parts of the anomaly (Figure 3). Material treated by the artisanal miners consists of weathered sediments with veinlets of dark grey to black quartz.
Four holes for a total of 400-500m are planned in phase 1 for the testing of this target.
Figure 2: Dig 1 and Dig 2 targets, surface geochemistry gold anomalies and gold in saprolite anomalous points from auger drilling over ground geophysics image (resistivity)
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Photo 1: Entrance to active artisanal underground workings, inset shows material mined, sediments weathered to saprolite with dark grey quartz veinlets.
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Dig 2
This target is defined by anomalous gold values from saprolite auger sampling, outlining a consistent 1700m long trend up to 280m wide. The gold trend parallels feature visible in the chargeability and resistivity geophysics (Figure 2).
Ten holes for 1000m are planned for the testing of this target.
Dig 3
This gold trend defined in auger saprolite samples trends for 600m in a northwest direction. A total of five holes for 300-400m are planned for testing of this target.
Figure 3: Dig 3 target, surface geochemistry gold anomalies and gold in saprolite anomalous points from auger drilling over ground geophysics image (resistivity)
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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 the 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 in Guinea, West Africa. The Company has defined multi-kilometer long gold-bearing structures on each of the gold exploration permits, with multiple high-value drill targets and is targeting multi-million ounce gold discoveries. 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.
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. Forward-looking statements in this news release includes, but is not limited to, the anticipated timing for completion of various exploration or drilling programs. 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; 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; general competition in the mining industry availability of capital and financing; general economic, market or business conditions, regulatory changes; timeliness of regulatory approvals as well as those factors discussed in the Company's public disclosure record. 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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