RETRANSMISSION: Sanu Gold Completes First Phase of Drilling on the Bantabaye Permit: High-Grade Discovery at Target 2 and Gold Mineralization Intersected at Three of Four Targets Drilled
RETRANSMISSION: Sanu Gold Completes First
Phase of Drilling on the Bantabaye Permit:
High-Grade Discovery at Target 2 and Gold
Mineralization Intersected at Three of Four
Targets Drilled
Vancouver, British Columbia--(Newsfile Corp. - July 27, 2023) -
Sanu Gold Corporation (CSE: SANU)
(OTCQB: SNGCF)
("Sanu Gold" or the "Company") is pleased to announce the successful completion
of the inaugural drill program (the "Program") on 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 km
1
south of the multi-million once
Lefa Gold Mine and 80 km north of the multi-million ounce Bankan Gold Project.
Martin Pawlitschek, President and CEO, commented: "In this first round of drilling at Bantabaye, Sanu
conducted a preliminary test on four of ten high-priority target areas, focusing on several zones along a
multi-kilometre long mineralized fault system crossing the northern block of the permit. We intersected
broad zones of near-surface gold mineralization in three of the four target areas tested, including a high-
grade discovery at Target 2, which is open in all directions. A grade of
11.4 g/t Au over 15 m
from the
first fence of holes ever drilled at Bantabaye is a spectacular result and we look forward to continuing to
test and expand this exciting discovery."
"West Africa is the number one gold mining region in the world, and Guinea is a vastly underexplored
portion of the region. In the twelve months since Sanu has been listed, we have made near-surface, high-
grade gold discoveries in our inaugural drill programs on two separate permits, Bantabaye and Daina.
This is an enviable discovery rate, and validates both our exploration methodology and the potential on
our extensive landholdings in Guinea. We look forward to continuing to discover and delineate new gold
deposits in this highly prospective region," Mr. Pawlitschek continued.
Program Highlights:
Phase One drilling at Bantabaye included 3,198 m
1
in 28 RC
1
drill holes at four target areas, with
results from the final six holes reported herein,
Target 2 high-grade gold discovery:
11.4 g/t Au
1
over 15 m, including 41.2 g/t Au over 4 m
;
this discovery is open in all directions
,
Targets 3 and 7: broad intervals of gold mineralization intersected at both target areas
,
Gold mineralization at Targets 2, 3 and 7 intersected over a 1.5 km extent
of the 4 km long
Tinkisso Fault, a key locus for mineralization in this large, structurally-hosted gold system,
Excellent potential for additional mineralization between and along strike from Targets 2,
3 and 7
,
Strong similarities between the geology and alteration at Bantabaye and recent major
gold discoveries in the region
.
Figure 1. Bantabaye North map showing geological and structural features, artisanal workings, drill
hole collars and highlighted assays results from RC drilling, past auger drilling and working pit
sampling.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8941/175030_f32f5eb6d4b2889c_01full.jpg
Gold mineralization at Bantabaye is closely associated with secondary structures, including the Tinkisso
Fault, adjacent to the Bantabaye Thrust Fault (Figure 1). The Company has traced mineralization
approximately 1.5 km eastward along this trend from the Target 2 discovery to Targets 3 and 7. The
mineralization is hosted in a felsic intrusive unit and with secondary structures along the Tinkisso Fault
and a splay where the Tinkisso Fault converges with the Bantabaye Thrust Fault. This is a major fault
system in the northern portion of the Permit, with the Bantabaye Thrust Fault extending over a 6 km
extent and the secondary Tinkisso Fault extending over 4 km. The Program has tested approximately 1.5
km of the Tinkisso Fault, with the remaining 2.5 km untested.
Target 2
A total of 626 m was drilled in six RC holes on two 50 m spaced lines at Target 2, with the objective of
testing the downdip extension of high grade gold in rock chip samples collected from artisanal workings
(Figures 1 and 2, Table 1: see May 17, 2023 and June 5, 2023 Sanu news releases). Gold
mineralization at Target 2 is associated with a strongly silicified and hydrothermally altered felsic
intrusive at the sheared contact with a foliated mafic unit. The altered felsic intrusive contains quartz vein
stockwork and breccia, along with pervasive disseminated pyrite and arsenopyrite. Key alteration
associated with the gold mineralization is silicification and associated pyrite and arsenopyrite. Gold
mineralization at Target 2 is hosted in oxidized rock at surface and in near-surface intercepts, and in
unoxidized rock in the deeper holes drilled to date. Oxidation extends to a vertical depth of
approximately 25 m in this area of the Permit.
Drilling has delineated a gold mineralized structure at Target 2, with assays from the eastern line
returning high-grade gold intercepts of
11.4 g/t Au over 15 m
in BANT-RC-002 and 2.0 g/t Au over 12
m in BANT-RC-003 (Table 1, Figure 2: Section 1).
Figure 2: Target 2 Sections 1 and 2, showing geology and structural interpretation, artisanal workings,
RC drill hole traces and highlighted assays results from RC drill holes BANT-RC-001 to -006.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8941/175030_f32f5eb6d4b2889c_002full.jpg
Both the felsic intrusive and mafic unit, as well as the higher-grade mineralization below the sheared
felsic intrusive contact, are extensively mined by artisanal workers, with free gold recovered from both
oxidized and unoxidized rock. On the western line targeted by RC holes BANT-RC-005 and BANT-RC-
006, the higher-grade gold mineralization has been mined out, with assays reported herein of 0.90 g/t Au
over 17 m, including 2.57 g/t Au over 2 m and 2.78 g/t Au over 1 m in BANT-RC-006 (Table 1, Figure 2:
Section 2). Where the higher-grade intervals were expected based on the results from holes on Section
1, the contractor reported drilling through a void.
The mineralized structure strikes west-northwest and dips moderately to the south-southwest at Target 2.
This discovery is open in all directions and systematic follow-up drilling is being planned.
Target 3
A total of 869 m in seven RC holes has been drilled at Target 3 to test the northwest striking, southwest
dipping Tinkisso Fault along a 300 m long by 150 m wide zone of artisanal workings. This includes six
holes previously released (see June 5, 2023 Sanu news release) and one new hole (BANT-RC-028),
which contained no significant gold mineralization (Table 1).
Hole BANT-RC-028 was drilled to test the downdip extent of previously released hole BANT-RC-009,
which intersected 1.44 g/t Au over 13 m hosted with saprolitized felsic intrusive in the hangingwall of the
Tinkisso Fault.
Additional holes along the trend are required to determine the down-plunge orientation of
the mineralization.
Figure 3: Target 3 Section 3 showing geology and structural interpretation, artisanal workings, RC drill
hole traces and highlighted assays results from RC drill holes BANT-RC-007 to -009 and 028.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8941/175030_f32f5eb6d4b2889c_003full.jpg
Gold mineralization at Target 3 is associated with a strongly hydrothermally altered felsic intrusive in the
hangingwall of the Tinkisso Fault at the sheared contact between a volcaniclastic sequence and felsic
intrusive (Figure 3). The Tinkisso Fault is a northwest striking, shallowly southwest dipping, splay of the
Bantabaye Thrust Fault, with a well-developed shear fabric. Gold mineralization is associated with quartz
vein stockwork and breccia, as well as boxwork after sulfide within the felsic rock. Drilling revealed that
Target 3 is situated within an area of deep oxidation, with saprolite extending up to 150 m vertical depth,
suggesting intensive deep fracturing and hydrothermal alteration during deformation, following by deep
weathering of the rocks. Interpretation of the drilling completed to date and structural mapping indicates
that gold mineralization is open to the southeast along the Tinkisso Fault in the Target 8 area, which has
not yet been drill tested (Figure 1).
Extensive artisanal workings at Target 3 include several parallel, north-south trending lines of shafts with
depths of up to 80 m reported by local artisanal miners. These shafts targeting saprolite-hosted high-
grade gold mineralization, from which abundant free gold has been recovered. Some of the holes were
drilled in a NW direction to test for NS oriented structures indicated by the orientation of workings.
Target 7
A total of 1603 m in 14 RC holes has been drilled at Target 7 to test high grade gold in rock chip
samples from artisanal workings over a 400 m long by 150 m wide area associated with strong gold in
termite mound anomalies and high-grade gold mineralization in rock chip samples collected from
artisanal workings. This includes nine previously released holes in three fences of three hole each drilled
to the west-northwest (BANT-RC-013 to -022; see June 5, 2023 news release) and five new holes
(BANT-RC-023 to -027) drilled to the north-northeast with an aim to better sample the orientation of high-
grade mineralization targeted by artisanal miners in this area.
Figure 4: Target 7 Section 4 showing geology and structural interpretation, artisanal workings, RC drill
hole traces and highlighted assays results from RC drill holes.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8941/175030_f32f5eb6d4b2889c_004full.jpg
Highlights from the new north-northeast oriented drilling includes:
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-023),
0.44 g/t Au over 9 m (BANT-RC-025),
0.63 g/t Au over 4 m, including 1.1 g/t Au over 1 m (BANT-RC-026), and
0.44 g/t Au over 8 m (BANT-RC-027).
Highlights from the previously released west-northwest oriented drilling includes:
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 13 m
(BANT-RC-022),
0.55 g/t Au over 13 m, including. 1.2 g/t Au over 1 m (BANT-RC-015),
0.52 g/t Au over 13 m and further downhole 0.42 g/t Au over 4 m (BANT-RC-018), and
0.73 g/t Au over 4 m, and further downhole 1.03 g/t Au over 6 m (BANT-RC-017).
Figure 5: Target 7 mineralization: A) outcrop of oxidized felsic intrusive with quartz veining and
boxwork after sulphide; B) free gold panned from surface workings.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8941/175030_f32f5eb6d4b2889c_05full.jpg
The initial drill holes targeted the north-northeast trend observed from the extensive gold in termite
mound anomalies at Target 7, supported by north-northeast trending lines of artisanal shafts and initial
structural measurements. Updated detailed geological and structural mapping of outcrops and artisanal
workings and results from the RC drilling demonstrate that the gold mineralization is associated with
northwest striking and shallowly southeast dipping
felsic intrusive rock that extends for over 500 m along
strike and 150 m in width. At surface, the felsic intrusive is extensively altered and sheared with local
stockwork of quartz veinlets, breccia development and boxwork after sulphide minerals. These zones of
strong alteration are extensively mined by artisanal workers, reportedly down to depths of up to 80 m and
deeply weathered to at least 100 m, where abundant free gold is recovered (Figure 5).
Drilling to date at Target 7 has not intersected the high grade mineralization exploited by artisanal
miners and it is suspected that the relatively shallow drilling completed to date has been exclusively
within areas where the high grade mineralization has been mined out (Figure 4).
Interpretation of geological and structural data, gold mineralization intercepted in RC and auger drill
holes and in artisanal workings demonstrates that the felsic intrusive at Targets 2 and 3 extends through
Targets 7 and 8 and forms a prominent northwest striking and shallowly southwest dipping gold bearing
structure that extends over a 5 km strike extent (Figure 1).
The three holes drilled in the north of Target 7 were drilled on a northwest azimuth, testing
positive rock
chip samples that were interpreted to connect to the north-south trending vein sets. However, no
significant values were return from these holes.
Target 4
One RC hole with a length of 100 m was drilled at Target 4 to begin to test this strong gold in termite
mound anomaly along the Bantabaye Thrust Fault. RC drill hole BANT-RC-020 returned 0.3 g/t Au over 1
m. This hole was drilled into volcaniclastic strata, but did not intercept the targeted felsic intrusive.
Additional planned holes were not drilled at Target 4 in the Program as other target areas were
prioritized for drilling prior to the planned break for the wet season that commenced in June.
Additional field mapping and sampling is planned to better refine future drilling at this target.
Discussion and Next Steps
The inaugural drill program at Bantabaye delivered a new discovery at Target 2, along with highly
encouraging gold grades and widths from Targets 3 and 7. At all three target areas, gold mineralization
was hosted within a sheared felsic unit.
There is a high variation of depth of oxidation along the structure ranging from 25 m to over 150 m from
surface, related to structural deformation and associated alteration and mineralization.
Drilling to date has been shallow and limited, leaving areas for immediate follow up, with the highest
priority around the Target 2 discovery. In addition, the entire Bantabaye Thrust Fault - Tinkisso Fault
system requires additional surface work and step out drilling. Further detailed work is also required to
examine the potential for additional mineralization in laterite-covered areas between the currently
identified targets.
The Company is working towards a near term follow-up drill program, subject to access, logistics and
availability of equipment during the wet season. In addition, infill geochemical sampling, mapping and
potentially geophysical surveys are considered to further delineate targets.
Table 1: Bantabaye Phase One RC drill hole drill intercepts (Targets 2, 3, 4 and 7).
Target 2
Hole ID
X-UTM
Y-UTM
Length
Azimuth
Dip
Intercept
Interval
From
News
(m)
(
o
)
(
o
)
(g/t Au)
(m)
(m)
Release
BANT-RC-001
358,08
1,253,118
56
30
-60
0.8
4
12
May 17, 2023
including
1.4
1
13
&
1.3
1
15
BANT-RC-002
358,068
1,253,066
90
30
-60
11.4
15
35
May 17, 2023
including
41.2
4
36
including
114
1
38
&
0.5
12
56
including
1.6
1
56
BANT-RC-003
358,039
1,253,018
150
30
-60
2.0
12
83
May 17, 2023
including
6.8
1
83
&
5.0
1
94
&
0.7
1
104
BANT-RC-004
358 039
1 253 018
150
030
-60
NSV
June 5, 2023
BANT-RC-005
358 018
1 253 099
100
030
-60
0.7
3
11
June 5, 2023
including
1.26
1
11
BANT-RC-006
357 988
1 253 048
150
030
-60
0.56
2
56
June 5, 2023
0.90
17
63
including
2.57
2
64
&
2.78
1
72
Target 3
BANT-RC-007
358 972
1 253 256
105
010
-60
NSV
June 5, 2023
BANT-RC-008
358 970
1 253 211
106
010
-60
NSV
June 5, 2023
BANT-RC-009
358 970
1 253 211
106
010
-60
1.44
13
23
June 5, 2023
including
5.10
1
28
&
4.90
1
32
BANT-RC-010
359 024
1 253 244
106
010
-60
NSV
June 5, 2023
BANT-RC-011
359 015
1 253 192
116
010
-60
NSV
June 5, 2023
BANT-RC-012
359 013
1 253 141
165
010
-60
NSV
June 5, 2023
BANT-RC-028
358 961
1 253 107
120
010
-55
NSV
Current
Target 4
BANT-RC-020
359 874
1 253 165
100
300
-55
0.30
1
1
June 5, 2023
Target 7
BANT-RC-013
359 270
1 253 165
110
300
-55
NSV
June 5, 2023
BANT-RC-014
359 316
1 253 132
131
300
-55
NSV
June 5, 2023
BANT-RC-015
359 196
1 253 092
105
300
-55
0.55
13
2
June 5, 2023
including
1.2
1
12
BANT-RC-016
359 236
1 253 067
100
300
-55
NSV
June 5, 2023
BANT-RC-017
359 284
1 253 044
101
300
-55
0.73
4
1
June 5, 2023
1.3
6
6
BANT-RC-018
359 300
1 252 979
106
300
-55
0.52
13
1
June 5, 2023
0.42
4
22
BANT-RC-019
359 348
1 252 957
105
300
-55
NSV
June 5, 2023
BANT-RC-021
359 355
1 253 093
171
300
-55
NSV
June 5, 2023
BANT-RC-022
359 376
1 252 899
71
300
-55
0.87
13
1
June 5, 2023
including
1.65
3
6
3.47
1
56
BANT-RC-023
359 183
1 252 986
90
030
-55
0.91
9
3
Current
including
1.55
1
4
2.11
2
7
BANT-RC-024
359 285
1 252 905
125
030
-55
NSV
Current
BANT-RC-025
359 336
1 252 898
125
030
-55
0.44
9
15
Current
BANT-RC-026
359 264
1 252 968
138
030
-55
0.63
4
21
Current
including
1.1
1
22
BANT-RC-027
359 330
1 252 971
125
030
-55
0.44
8
15
Current
Notes: The Company does not have sufficient information to make a determination of the true widths of the drill hole intersections reported in this
release. Drillhole intercepts are calculated using a minimum downhole length of ≥1 m, a cut-off grade of 0.3 g/t gold, and may include up to 3 m of
internal dilution within the intercept. Only intercepts ≥1 m are reported. Sample intervals are comprised of RC drill chips, which are sampled at regular
1 m intervals. Assays are reported uncut. Grid coordinates are UTM WGS84 Zone 29N. Results for holes BANT-RC-001 to BANT-RC-0022
previously released.
Structural Setting
The geological and structural interpretation with first phase drilling completed demonstrates that the
Bantabaye Thrust Fault is a deep-seated fault that put a sedimentary sequence to the north and a
volcaniclastic unit to the south in structural contact (Figure 1). Movement along this system was likely
accommodated by the formation of a subsidiary northwest-striking and southwest dipping splay fault
system that branched off and formed an acute angle to the main thrust. Structural mapping shows that the
splays are developed on the southern side of the primary structure. A significant splay for hosting gold
mineralization is the Tinkisso Fault, which extends over 4 km and hosts mafic and felsic intrusive rocks
that may be syntectonic in origin and emplaced during the deformation and opening of the splays. The
Bantabaye Thrust Fault may have served as a primary conduit for the hydrothermal mineralizing fluids.
During tectonic movement along the thrust, hydrothermal fluids may have been pumped into the splay
fault systems where interaction between the hydrothermal mineralizing fluids and the host intrusive rock
led to the deposition of gold mineralization.
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. Samples from Target
2 were analyzed using ''Fire Assay FA450'' at the Bureau Veritas Mineral Laboratories in Bamako, Mali
("BVML"). BVML is an internationally recognized and commercially certified laboratory and is
independent of Sanu Gold. Samples From Targets 3, 4 and 7 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.