Sanu Gold Announces First Discovery of High Grade Gold Mineralization on the Bantabaye Permit in Guinea, West Africa: 11.4 g/t Au over 15 m, including 41.2 g/t Au over 4 m
Sanu Gold Announces First Discovery of High
Grade Gold Mineralization on the Bantabaye
Permit in Guinea, West Africa: 11.4 g/t Au over
15 m, including 41.2 g/t Au over 4 m
Vancouver, British Columbia--(Newsfile Corp. - May 17, 2023) -
Sanu Gold Corporation (CSE:
SANU) (OTCQB: SNGCF)
("Sanu Gold" or the "Company") is pleased to announce its first discovery at
the 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
kilometres ("km") south of the multi-million once Lefa Gold Mine and 80 km north of the multi-million
ounce Bankan Gold Project.
In April 2023, the Company commenced its inaugural reverse circulation ("RC") drill program at
Bantabaye, targeting extensive and continuous zones of gold in bedrock anomalies. Results have been
received from the first three holes, which were drilled at Target 2.
Target 2 RC Drill Highlights:
11.4 g/t Au over 15 m
, including
41.2 g/t Au over 4 m
in BANT-RC-002
1
, and
2.0 g/t Au over 12 m,
including 6.8 g/t Au over 1 m and 5.0 g/t Au over 1 m
in BANT-RC-003
Martin Pawlitschek, President and CEO commented: "The first set of drill results from our flagship
project in Guinea, West Africa has returned broad intervals of near-surface, high grade gold
mineralization. With the first three holes ever drilled at Bantabaye we have made our second discovery in
Guinea, this time having intersected 11.4 g/t Au over 15 m, including 41.2 g/t Au over 4 m at Target 2,
starting at a depth of approximately 25 m from surface."
"To date we have completed drilling a total of 22 holes at Bantabaye, consisting of a further three holes
at Target 2 and 16 holes at three additional high-priority targets. Today's results demonstrate the
potential for significant discoveries at Bantabaye and we are excited to continue to update the market as
further results are received. Target 2 is only one of several targets identified over a 6 km segment of the
Bantabaye thrust fault," continued Mr. Pawlitschek.
Program Details
The ongoing 10,000 m RC drill program at Bantabaye is testing multiple high priority gold anomalies
defined by previously completed surface and auger sampling on this 100 square kilometre ("km
2
")
permit. The previous work outlined a total of ten high-priority targets consisting of extensive and
continuous zones of gold in bedrock anomalies extending over a cumulative 9 kilometre ("km") strike
length, including the Bantabaye thrust fault and several northeast and northwest trending structures
(Figure 1). The ten target areas identified to date at Bantabaye form a series of strong gold anomalies
along the east-west trending Bantabaye thrust fault and associated north-northwest and northeast
trending, gold-bearing lineaments that are coincident with interpreted local structures.
The drill holes reported herein consist of a fence of three holes, totaling 296 m, drilled to the north-
northeast at Target 2 (Figures 1 and 2). High grade gold mineralization is hosted within a strongly
sheared and silicified felsic intrusive unit that lies in the footwall of the shallowly south-dipping Bantabaye
thrust fault, characterized by highly anomalous gold values and small-scale artisanal workings.
Disseminated pyrite and arsenopyrite are associated with the gold mineralization. The intercepts in
BANT-RC-002 and -003 are hosted within fresh rock, with saprolite extending to a depth of about 20 m
in this area of the permit.
High grade gold mineralization was intersected in BANT-RC-002 and -003 (Table 1). BANT-RC-002
intersected 11.4 g/t Au over 15 m, including 41.2 g/t Au over 4 m. This 4 m interval included individual 1
m intercepts of up to 114 g/t Au. Further downhole, BANT-RC-002 intersected 0.5 g/t Au over 12 m,
including 1.66 g/t Au over 1 m. Gold mineralization in this hole started at a depth of approximately 25 m
from surface.
BANT-RC-003 was drilled below BANT-RC-002 and intersected 2.0 g/t Au over 12 m, including 6.8 g/t
Au over 1 m and 5.0 g/t Au over 1 m, starting at a depth of approximately 65 m from surface.
BANT-RC-001 intersected 0.8 g/t Au over 4 m, including 1.4 g/t Au over 1 m and 1.3 g/t Au over 1 m.
The near-surface projection of the high grade zone intersected in holes BANT-RC-002 and -003 is
interpreted to be eroded and/or removed by artisanal miners in this hole.
Figure 1: Bantabaye North maps showing Target 2 RC drill holes.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8941/166316_da3ba436843f99c6_001full.jpg
Figure 2: Target 2 cross-section showing geology and structural interpretation, RC drill hole traces
and highlighted assays results from RC drill holes BANT-RC-001 to -003.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8941/166316_da3ba436843f99c6_002full.jpg
Table 1: Bantabaye Target 2 RC drill hole drill intercepts.
Hole ID
X-UTM
Y-UTM
Intercept
Interval
From
Area
Length
Azimuth
Dip
(m)
(
o
)
(
o
)
(g/t Au)
(m)
(m)
BANT-RC-001
358,080
1,253,118
56
030
-60
0.8
4
12
Target 2
including
1.4
1
13
&
1.3
1
15
BANT-RC-002
358,068
1,253,066
90
030
-60
11.4
15
35
Target 2
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
030
-60
2.0
12
83
Target 2
including
6.8
1
83
&
5.0
1
94
&
0.7
1
104
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.
Next Steps
The Company has outlined an initial 10,000 m of reverse circulation ("RC") drilling planned for 2023 and
to date has completed 2,475 m in 22 RC holes on four of ten high-priority targets. This includes an
additional three holes drilled at Target 2 on a line located 50 m west of holes BANT-RC-001 to -003
(Figure 1). Further drill results will be released when received.
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 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.
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 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. In its
inaugural drill program in 2022, Sanu Gold discovered the high-grade Daina 2 Main Zone on the Daina
Gold Exploration Permit. 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
Grams of gold per tonne ("g/t Au"), metres ("m")
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