Sanu Gold Outlines Extensive Gold in Bedrock Anomalies at the Bantabaye Gold Exploration Permit in Guinea, West Africa
Sanu Gold Outlines Extensive Gold in Bedrock
Anomalies at the Bantabaye Gold Exploration
Permit in Guinea, West Africa
Vancouver, British Columbia--(Newsfile Corp. - November 1, 2022) - Sanu Gold Corporation (CSE:
SANU) (OTCQB: SNGCF) ("Sanu Gold" or the "Company") is pleased to announce the results of a
recently completed initial auger drilling and artisanal pit sampling program (the "Program") on the
Bantabaye Gold Exploration Permit ("Bantabaye", or the "Permit"), located 50 kilometres ("km") south of
the multi-million ounce Lefa Gold Mine in Guinea, West Africa. The Program outlined a total of 9 km of
gold in bedrock anomalies and returned high-grade gold in pit samples of up to 18.3 grams of gold per
tonne ("g/t Au").
Highlights
Broad zones of gold in bedrock anomalies extending over a cumulative 9 km strike length on the
Permit have been defined by auger drilling in 6 target areas; these anomalies correlate with
previously defined termite mound gold anomalies and artisanal workings,
High gold grades of up to 18.3 g/t Au were returned from bedrock samples collected from artisanal
workings in 2 target areas, and
The 10 target areas defined on the Permit form a series of sub-parallel gold bearing lineaments
that are coincident with interpreted local structures.
Martin Pawlitschek, CEO of Sanu Gold commented: "We are very pleased with the results of our first
pass auger drilling and bedrock sampling of artisanal workings at Bantabaye. The results from this
program outline a total of nine kilometres of gold in bedrock anomalies coincident with artisanal
workings and previously-defined termite mound gold anomalies and will be used to delineate targets for
our initial reverse circulation drill program, which we anticipate starting early in the new year."
Program Overview
The Program included 11,756 meters ("m") drilled in 658 auger holes over Targets 5 to 10, as well as
the collection of bedrock samples from pits in artisanal workings at Targets 2 and 7.
Initial Auger Drilling (Targets 5 to 10)
Auger drilling targeted previously defined high priority gold in termite mound anomalies (see Sanu news
release dated September 1, 2022). The objective of this work was to outline shallow bedrock
geochemical anomalies, which will be used to delineate initial Reverse Circulation ("RC") drill targets. A
fast and cost-effective tool, the power auger allows systematic sampling of saprolite (weathered
bedrock) below a 1 to 15 m thick cover of lateritic and transported cover material.
Auger drill lines were oriented east-west with 200 m line spacing and 25 m drill hole spacing along the
lines. A total of 6,151 auger samples were collected and assay results were highly encouraging, outlining
a total of 9 km of gold in bedrock anomalies, defined as >0.05 g/t Au from down hole saprolite samples.
Auger drilling outlined a minimum of three north-west to north-northeast oriented trends of gold bearing
structures on the Permit. These structures are associated with a complex imbricated system of east-
west to west-northwest trending, shallowly south-dipping thrust fault and fold structures that defines the
structural contact between sedimentary and volcanoclastic rocks of the Siguiri Basin and intruded by
Birimian syn-tectonic felsic and mafic intrusives at Bantabaye North, the northern block of the Permit
(Figure 1).
Auger drilling has confirmed the north-northwest-trending gold lineaments associated with a system of
north-northwest-trending strike-slip fault systems in Targets 5 and 6, located north of the main thrust fault
zone in Bantabaye North (Figure 1). Bedrock gold anomalies extend for over 1 km in Target 5 and 500
m in Target 6. The results of auger drilling have outlined a system of closely spaced sub-parallel sets of
structurally aligned bedrock gold anomalies that trend north-northwest. The gold mineralization is
associated with volcanoclastic rocks cut by numerous quartz veins and stockwork of white or smoky
quartz. This assemblage is the primary target for artisanal mining. Quartz vein float is widespread over
the area of Target 5, correlating well with the observations from the auger holes.
Target 8, located southeast of the main thrust fault and fold structures in Bantabaye North, is comprised
of a series of parallel northwest trending bedrock gold anomalies, an orientation that lines up with
structural measurements observed in the field (Figure 1). The gold anomaly outlined at Target 8 extends
over a 2 km strike length and is parallel to the trend of the main thrust fault to the north. The most
significant gold-bearing structure identified at this target extends over 1 km in length, with auger
sampling in saprolite of up to 0.35 g/t Au over 10 m (hole BAN-AUG-0628).
In Bantabaye South, which covers the southern block of the Permit, auger drilling at Targets 9 and 10
delineated strong north-northeast trending bedrock gold anomalies, each of which extend for over 1.5 km
in length (Figure 2). Target 9 has a width of 300 m and Target 10 has a width of 1 km.
Rock Sampling of Artisanal Workings (Targets 2 and 7)
A total of 65 rock samples were collected from pits in the artisanal workings at depths of 5 to 26 m at
Targets 2 and 7 (Figure 1).
Multiple rock samples collected from artisanal pits at Target 2 returned high gold grades, including 18.3,
12.9, 10.2, 8.42, 6.82, 4.55, 4.47, 3.93, and 2.89 g/t Au from depths of 6 to 26 m (Figure 1 and Table 1).
Gold mineralization in the pits is associated with different styles of alteration, including altered
volcanoclastic rocks cut by quartz veins stockworks with evidence of pervasively disseminated, now
oxidised sulphides. This target is located within a west-northwest to east-northeast trending fault jog
system along the main thrust fault in Bantabaye North. Artisanal pits focused on gold production from
mineralized bedrock extend in excess of 200 m along strike and up to 50 m in width. Artisanal gold
production at Target 2 began only in recent years and workings currently extend to 30 m depth. Artisanal
pits expose rocks within the shallowly southerly dipping thrust fault zone.
Target 7 is located south of the main thrust fault and fold structures in Bantabaye North (Figure 1). Initial
auger drilling defined a pronounced north northeast trending bedrock gold anomaly that extends over 2.3
km in length and 200 m in width. Samples from the artisanal workings at Target 7 returned high gold
grades, including 5.92, 2.54, 2.49, 1.22 and 1.32 g/t Au at depths of 5 to 10 m (Table 1). This anomaly is
associated with a system of parallel fractures that host gold mineralization. Individual fractures can
extend up to 700 m along strike. The northern portion of Target 7 has extensive artisanal workings,
where free gold is extracted from saprolite of hydrothermally altered and sheared volcanoclastic rock cut
by quartz veins, stockwork and breccia.
Next Steps
Following these encouraging results a 3,000 to 5,000 m infill auger drill program, followed by a 2,500 to
5,000 m initial RC drill program, is planned to commence in early January 2023. The goal of these next
phases of work will be to drill-test areas that returned high gold grades from artisanal workings and to
better define gold-bearing structures delineated from initial auger drilling.
Figure 1: Bantabaye North plan view map with initial auger drill results in saprolite (Contour >0.05 g/t
Au) and Pit sampling results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8941/142486_c150c1ddc4296aef_002full.jpg
Figure 2: Bantabaye South plan view map with initial auger drill results in saprolite (Contour >0.05 g/t
Au).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8941/142486_c150c1ddc4296aef_003full.jpg
Sample
ID
UTM-X
UTM-Y
UTM-Z
Au ppm
Pit Depth
(m)
Sample
description
Target
RBANT 0032
357 962
1 253 118
426
0.68
8
Altered Volcanoclastic associated with quartz vein stockworks
Target 2
RBANT 0039
357 891
1 253 150
420
0.51
12
Altered Volcanoclastic associated with quartz vein stockworks
Target 2
RBANT 0040
357 891
1 253 150
420
2.89
12
Altered Volcanoclastic associated with quartz vein stockworks
Target 2
RBANT 0041
359 314
1 253 150
489
1.22
10
Altered Volcanoclastic associated with quartz vein stockworks
Target 7
RBANT 0042
359 314
1 253 150
489
0.72
10
Altered Volcanoclastic associated with quartz vein stockworks
Target 7
RBANT 0043
359 314
1 253 150
489
0.88
10
Altered Volcanoclastic associated with quartz vein stockworks
Target 7
RBANT 0044
359 352
1 252 954
483
5.92
10
Altered Volcanoclastic associated with quartz vein stockworks
Target 7
RBANT 0045
359 352
1 252 954
483
2.49
10
Altered Volcanoclastic associated with quartz vein stockworks
Target 7
RBANT 0046
359 352
1 252 954
483
2.54
10
Altered Volcanoclastic associated with quartz vein stockworks
Target 7
RBANT 0065
359 206
1 253 102
492
0.65
5
Altered Volcanoclastic associated with quartz vein stockworks
Target 7
RBANT 0066
359 206
1 253 102
492
1.32
5
Altered Volcanoclastic associated with quartz vein stockworks
Target 7
RBANT 0067
359 206
1 253 102
492
0.62
5
Altered Volcanoclastic associated with quartz vein stockworks
Target 7
RBANT 0197
358 095
1 253 109
446
12.9
6
Altered felsic intrusive rock with quartz veins and boxwork
Target 2
RBANT 0198
358 095
1 253 109
446
10.2
6
Altered felsic intrusive rock with quartz veins and boxwork
Target 2
RBANT 0199
358 095
1 253 109
446
8.42
6
Altered felsic intrusive rock with quartz veins and boxwork
Target 2
RBANT 0200
358 089
1 253 113
441
2.85
8
Altered felsic intrusive rock with quartz veins and boxwork
Target 2
RBANT 0201
358 089
1 253 113
441
18.3
8
Altered felsic intrusive rock with quartz veins and boxwork
Target 2
RBANT 0202
358 089
1 253 113
441
6.82
8
Altered felsic intrusive rock with quartz veins and boxwork
Target 2
RBANT 0203
358 078
1 253 100
440
0.79
12
Altered felsic intrusive rock with quartz veins and boxwork
Target 2
RBANT 0204
358 078
1 253 100
440
4.47
12
Altered felsic intrusive rock with quartz veins and boxwork
Target 2
RBANT 0205
358 078
1 253 100
440
1.06
12
Altered felsic intrusive rock with quartz veins and boxwork
Target 2
RBANT 0206
358 050
1 253 097
439
2.37
20
Altered Mafic rock with quartz veins and boxwork
Target 2
RBANT 0207
358 050
1 253 097
439
3.93
20
Altered Mafic rock with quartz veins and boxwork
Target 2
RBANT 0208
358 050
1 253 097
439
4.55
20
Altered Mafic rock with quartz veins and boxwork
Target 2
RBANT 0209
358 050
1 253 111
439
0.86
26
Altered Mafic rock with quartz veins and boxwork
Target 2
RBANT 0210
358 050
1 253 111
439
1.58
26
Altered Mafic rock with quartz veins and boxwork
Target 2
RBANT 0211
358 050
1 253 111
439
0.89
26
Altered Mafic rock with quartz veins and boxwork
Target 2
RBANT 0212
358 047
1 253 122
432
0.73
26
Altered Volcanoclastic associated with quartz veins stockworks
Target 2
Table 1: Significant assay results from the Bantabaye pit sampling program (Assays > 0.5 g/t gold).
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 Permit 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. The auger sampling
was done at 2 m composites. The target minimum depth was
15 m. Where the holes did not attain 6 m
of saprolite within the 15 m, drilling was continued to attain three composite samples of saprolite. 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.
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 world class Siguiri Basin, host to several operating mines, Sanu Gold 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:
Fiona Childe
VP, Corporate Development & Communications
Sanu Gold Corp.
+1 (647) 473-7268
John Boidman
Renmark Financial Communications Inc.
+1 (514) 939-3989;
+1 (212) 812-7680
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.
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