Sanu Gold Announces Additional Results from the Bantabaye Permit: 1.2 g/t Au over 40 m, Including 5.4 g/t Au over 4 m from Channel Sampling and 189.7 g/t Au from Rock Chip Sampling
Sanu Gold Announces Additional Results from
the Bantabaye Permit: 1.2 g/t Au over 40 m,
Including 5.4 g/t Au over 4 m from Channel
Sampling and 189.7 g/t Au from Rock Chip
Sampling
Vancouver, British Columbia--(Newsfile Corp. - September 12, 2023) -
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 km
1
south of the multi-million ounce Lefa Gold Mine and 80
km north of the multi-million ounce Bankan Gold Project.
Highlights
1.2 g/t Au
1
over 40 m
1
, including
5.4 g/t Au over 4 m
in
channel BANT-TR-03 at Target 7,
This channel sampled strongly sheared and hydrothermally altered felsic volcanics and returned
gold mineralization over its entire 40 m length, with individual samples returning up to
12.3 g/t Au
over 1 m
,
This channel is located within the central part of Target 7, where initial drilling intersected gold
mineralization along a 500 m long section of the Tinkisso Fault,
Rock chip samples collected in proximity to this channel returned grades of up to 189.7 g/t Au.
Martin Pawlitschek, President and CEO, commented: "We continue to see good gold grades over broad
widths from channel sampling across Bantabaye's Target 7. Within the 700 m long Target 7 to Target 3
corridor, we see a zone of strongly altered and mineralized volcanics that has been a focus for intense
artisanal mining. The ongoing mining of visible gold from this area, combined with results from initial
drilling, channel sampling and rock chip sampling, demonstrate the prospectivity of the shear-hosted
gold system at Bantabaye."
Target 7
Channel BANT-TR-03 sampled a 40 m long exposure of saprolitized bedrock at 1 m intervals from new
exposures at Target 7 created by the construction of drill roads and pads (Figure 1 and Table 1). The
objective of this sampling was to further test the mineralized felsic intrusive intersected by the first phase
of reverse circulation ("RC") drilling (see the Sanu Gold news release dated July 27, 2023). This
northwest trending channel contains highly sheared, strongly hydrothermally altered and locally
brecciated felsic intrusive with quartz veinlet stockworks and boxwork after sulphide. All samples from
the channel returned gold values above detection limit, with 11 of 40 samples returning grades above 1.0
g/t Au, including
12.3 g/t Au over 1 m, 4.7 g/t Au over 1 m and 3.6 g/t Au over 1 m
, as well as
2.8 g/t
Au over 1 m
from the sample collected at the westernmost end of the trench.
Channel BANT-TR-03 is located 15 m southeast of trench BANT-TR-01, which returned 1.1 g/t Au over
43 m, including 4.2 g/t Au over 6 m (see the Sanu Gold news release dated Sept. 6, 2023).
An additional 5 rock chip grab samples were collected from saprolitized felsic intrusive rock at Target 7
in proximity to BANT-TR-03 and returned values of up to
189.7 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 structural features, drill holes, BANT-TR-01 and BANT-TR-03, rock
chip samples and artisanal workings.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8941/180319_ebd8b6fd84dddbd6_001full.jpg
Gold mineralization at Target 7 is associated with a northwest striking and shallowly southwest dipping
felsic intrusive that extends for over 500 m along strike and 150 m in width. As previously announced, 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)
2
.
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.
Results from BANT-TR-01, BANT-TR-03 and rock chip samples, combined with 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 is focused on
delineating targets for the next phase of drilling at Bantabaye.
Table 1: Bantabaye Trench Channel intercepts.
Hole ID
X-UTM
Y-UTM
Length
Au
Interval
(m)
(g/t)
(m)
BANT-TR-001
359 294
1 252 993
43
1.1
43
including
4.2
6
BANT-TR-003
359 321
1 253 006
40
1.2
40
including
5.4
4
Table 2: Bantabaye Target 7: Rock chip sample results.
SAMPLE ID
X-UTM
Y-UTM
Z-UTM
Au (g/t)
Target
BANT_20204
359 325
1 252 991
508
189.7
T7
BANT_20205
359 322
1 252 988
497
1.1
T7
BANT_20206
359 325
1 252 991
508
1.6
T7
BANT_20207
359 348
1 252 980
498
0.1
T7
BANT_20208
359 342
1 252 983
502
0.2
T7
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:
Fiona Childe, Ph.D. P.Geo.
VP, Corporate Development & Communications
Sanu Gold Corp.
+1 647-473-7268
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 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.
1
kilometres ("km"), metres ("m"), grams of gold per tonne ("g/t Au").
2
The Company does not have sufficient information to make a determination of the true widths of the drill
hole intersections noted in this release.
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https://www.newsfilecorp.com/release/180319