Vancouver, British Columbia--(Newsfile Corp. - April 2, 2024) - Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) ("Sanu Gold" or the "Company") is pleased to announce positive results, from the recent ground geophysics program completed on the Company's Daina Gold Exploration Permit ("Daina"), located in the prolific Siguiri Basin of Guinea, West Africa.
Highlights
Significant Target Size: Large geophysical trends at Daina 1 North, and Daina 2 Main Zone with anomalies extending over 1 km in length.
Anomalies Correlate to Gold: High-grade gold mineralization exists at these targets were covered by first pass drilling, with results including:
21 m of 4.75 g/t Au, including 1 m of 85.5 g/t Au, in DAI-RC-004 at Daina 2 Main Zone
37 m of 1.99 g/t Au, including 1 m of 32.6 g/t Au in DAI-RC-001 at Daina 2 Main Zone
11 m of 5.50 g/t Au, including 1 m of 56.6 g/t Au in DAI-RC-013 at Diana 2 Main Zone
9 m of 8.86 g/t Au, including 1 m of 39.30 g/t Au (DAI-AUG-1201) at Diana 1 North
Anomalies Remain Open: The gold-correlated induced polarisation anomalies extend well away from the areas of first-pass drilling conducted by the Company in 2022 and 2023.
Multiple Targets Emerging: The geophysical surveys have identified multiple areas of elevated chargeability and resistivity which require additional follow-up.
Martin Pawlitschek, President, and CEO of Sanu Gold commented: "Systematic application of proven exploration tools, now including ground geophysics, namely induced polarization continues to provide improved definition of our known prospects, which will guide future drill targeting. We are particularly excited about the significant strike lengths of geophysical features associated with our known zones of gold mineralization, this is particularly important since most of the features are open along strike, the surveys having been designed to evaluate the response of IP on the Daina project and its usefulness for future drill testing and to help keep the permits in good standing."
Program Summary
The ground geophysical survey program consisted of 21 Line Km of 200m spaced and east-west oriented gradient Induced Polarization (IP) lines. Four blocks have been completed covering all priority targets including Daina 1 South, Daina 1 North, Daina 2 Main Zone, and Daina 6 within the Daina Project.
The survey was completed by SAGAX Afrique of Ouagadougou, Burkina Faso using the IP method. SAGAX is well experienced in these types of surveys over many other deposits in the region. This release reports on the results from the Daina 1 North and Daina 2 targets.
The objective of this ground geophysical survey program was the detection and delineation of geophysical rock property contrasts (chargeability and resistivity) and structure which may indicate favorable zones for gold mineralization in the covered target trends and help with further assessing the potential of the targets for future drill testing. The results of this program show that the IP surveys delineate distinct features that help map the mineralized zones and that there is significant undrilled strike potential at Daina 2 and Daina 1 North.
Daina 1 North
The Program consisted of six east-west oriented lines, totalling 6.3 Line Km of 200m spaced of Gradient Array IP/Resistivity. The survey defined the presence of a resistivity trend extending for over 1 km (Figure 1) in a North South orientation. High grade gold mineralization has been intercepted in an auger hole close to this anomaly in DAI-AUG-1201: 9 m of 8.86 g/t Au, including 1 m of 39.30 g/t Au (Figure 1), (see Sanu Gold news release dated July 29, 2022). Scout RC drilling in DAI-RC-040 returned 7.45 gt/t Au over 1m (see Sanu Gold news release dated 18 October 2022). There are also extensive surface artisanal gold workings some of which align with the trend delineated in geophysics.
Figure 1: Resistivity features from IP survey at Daina with results from previous drilling Auger sampling and geochemical gold anomalies.
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Daina 2 Main Zone Target
The Program at this target consisted of five east-west oriented lines, totaling 5.5 Line Km of 200m spaced of Gradient Array IP/Resistivity (Figure 2). The IP and resistivity surveys completed at Daina 2 aimed at identifying the northern and southern extension of fault structures and chargeable and resistive bodies, which can be correlated with previous mineralization intercepted at Daina 2 Main Zone including:
21 m of 4.75 g/t Au, including 1 m of 85.5 g/t Au in DAI-RC-004
37 m of 1.99 g/t Au, including 1 m of 32.6 g/t Au in DAI-RC-001
11 m of 5.50 g/t Au, including 1 m of 56.6 g/t Au in DAI-RC-013
10m of 1.1 g.t Au, including 1m of 6.6 g/t Au in DAI-RC-040
The results from this survey have defined a large IP resistivity trend which extends north-northwesterly and south-southeasterly ward for just under 1 km and is centered on the Daina 2 Main Zone. The trend follows the strike of known gold mineralization that is characterized by high-sulphide (Pyrite and arsenopyrite) content and systems of quartz veinlets associated with greywacke rocks that host the gold mineralization (Figure 2).
Previous observations on rock chips, auger samples and RC holes and exposed saprolite in artisanal pits indicate that the gold mineralization is contained in a strongly fractured and hydrothermally altered coarse-grained greywacke that is crosscut by numerous sheeted quartz vein systems (Figure 3). and boxwork after oxidized, disseminated sulphide. These quartz vein systems and boxwork after oxidized, disseminated sulphide in fractures and breccia zones provide favorable sites for gold mineralization and are the main targets for artisanal miners at Daina 2 Main Zone Target. The extent of the surface artisanal gold workings at Daina 2 largely overlap with the resistivity trend.
Next Steps
While the Company is focused on preparing the for the drilling program at Bantabaye, it will in parallel evaluate and progress the key targets on its other properties for future drill testing. The results from the Daina geophysical surveys have been very useful, establishing that extensive, and as yet open trends in the IP are associated with the known gold anomalies and mineralization. These trends have only been drill tested in very limited locations, where in most cases the limited drilling has returned encouraging results.
Figure 2: Resistivity features at Daina 2, previous RC drill location with intercept highlights, auger samples, termite gold anomalies and extend or artisan surface workings.
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Figure 3: Photo of vein system hosted in greywacke exposed in artisanal workings at Daina 2. Field of view is approximately 5m.
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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 totalling 5% of the total number of samples shipped to the laboratory were 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 FAA505 at the SGS Laboratory in Bamako, Mali ("SGS"). SGS is an internationally recognized and commercially certified laboratory and is independent of Sanu Gold.
The Company is being advised on the IP survey by in3D Geoscience, an independent geophysical consulting firm based in British Columbia. The data collection survey is subject to standard contractors' protocols including:
- Daily checking of equipment
- Signal/noise ratio monitoring.
- Checking of extreme readings
- Verification of equipment locations
- Monitoring of measurement cycles
- Data is checked at the end of each day by a team at the SAGAX Head Office
Sanu's geophysicists and SAGAX regularly review and discuss the progress of the work, program adjustments, data quality and modelling parameters.
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 ("NI 43-101").
The technical information with respect to the geophysical data contained in this press release has been reviewed and approved by Todd Ballantyne, P.Geo., a member of Engineers and Geoscientists of British Columbia, independent geophysical consultant (through in3D Geoscience Inc.) to the Company and a qualified person within the meaning of NI 43-101.
About Sanu Gold Corp.
Located within the world-class Siguiri Basin, host to several operating mines, Sanu 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:
Anthony Simone
Simone Capital
416-881-5154
asimone@simonecapital.ca
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 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.
grams of gold per tonne (“g/t Au”)
metres (“m”)
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