Vancouver, British Columbia--(Newsfile Corp. - November 12, 2024) - Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) ("Sanu Gold" or the "Company") is pleased to announce the start of the Phase 1 2024 drilling campaign at its Daina gold exploration permit ("Daina" or the "Permit") in Guinea, West Africa.
Highlights
Drilling up of Five Targets: The drill program aims to test up five targets defined at Daina including Daina 1 South, Daina 1 North, Daina 2, Daina 6 and the newly discovered Salat East Target.
Previous High-Grade Intercepts: As well as testing new undrilled targets, some holes will follow up on intercepts such as those from the Daina 2 target:
21 m of 4.75 g/t Au, including 1 m of 85.5 g/t Au (DAI-RC-004)
15 m of 5.48 g/t Au, including 1 m of 78.4 g/t Au (DAI-RC-035-B)
- Emerging District: The Daina permit is located adjacent to large ground holdings being explored by major gold miners including Anglo Gold Ashanti plc ("AngloGold Ashanti"), a strategic shareholder in Sanu Gold, as well as Resolute Mining and Endeavour Mining.,
- Vectoring Towards Gold: The targets were selected based on strong auger-hole gold results along with prospective geochemical and geophysical trends observed for up to 3 km of strike length.
- 2024 Phase 1 drilling program: Up to 3000 m of air core and RC drilling in 25 to 35 holes is planned and has commenced on 8 November 2024.
- Assays Pending: The first-ever drill program at the Diguifara permit is now complete with assays from all 22 holes pending.
Martin Pawlitschek, President, and CEO of Sanu Gold, commented: ''With the initial phase of drilling at Diguifara now completed with a total of 2000m in 30 holes, The Company is excited to be drilling at Daina where auger gold results, rock chip sampling and ground geophysics have contributed to the understanding of key targets most of which remain largely untested. Capital, our new strategic shareholder, has done an excellent job at Diguifara and will also be conducting the drilling at Daina.''
The Daina property is located in the Siguiri Basin, a significant emerging gold district located in Guinea, West Africa. The property is in a similar geological setting to the Siguiri mine operated by Anglo Gold Ashanti plc, and which produced 214,000 ounces of gold in 2023. Significant exploration presence in the area also includes Resolute Mining and Endeavour Mining.
Figure 1. Daina Permit, Sanu Gold targets, major mining company permits, regional structures, gold mines and prospects.
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Program Summary:
Daina 1 South
This target is defined by two parallel fracture systems trending NNW and moderately ENE dipping that affected hydrothermally altered greywacke and control the gold mineralization. These two parallel fractures extend along strike over 1.5 km and have potential for strong mineralization evidenced by:
large gold intercepts in trenches including 9 m of 7.97 g/t Au including 3 m of 21.75 g/t Au (trench DAI-TR-007) and 7 m of 1.22 g/t Au (trench DAI-TR-0011),
anomalous gold values from saprolite auger sampling including 2 m of 6.48 g/t Au (DAI-AUG-1250) and 9 m of 2.26 g/t Au (DAI-AUG-1246) from the 2021/2022 auger programs, and
high grade gold in rock chip samples including 61.6 g/t Au, 16,1 g/t Au and 12,1 g/t Au.
The geophysical surveys identified a NNW trending high chargeability zone. The identified gold structure occurs at the contact between the high chargeability and medium to low chargeability zone and is expressed in the field by an area of extensive deformation, hydrothermal alteration and gold mineralization that is extensively exploited by artisanal miners through numerous pits and shafts aligned along the identified gold structure. Drilling started in this area on 7 November (Photo 1). The artisanal miners target zone of vein development and breccia associated with strongly altered greywacke rock (Photo 2).
Up to seventeen holes for up to 1900m are planned for the phase 1 testing of this target.
Figure 2: Daina 1 South Target, surface geochemistry gold anomalies and gold in saprolite anomalous points from auger drilling over ground geophysics image (Chargeability)
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Photo 1: Drill rig at Daina 1 South.
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Photo 2: Workings exploiting altered and quartz veined greywacke units with subvertical, north east trending veinlets.
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Daina 1 North
Daina 1 North target is defined by numerous parallel fracture systems trending NNW and moderately ENE dipping and extending along strike for over 2.4 km. Best intercepts obtained from this target are saprolite auger sampling including 9 m of 8.86 g/t Au (DAI-AUG-1201) and 2 m of 2.90 g/t Au (DAI-AUG-1203) in a zone of large artisanal mining with numerous pits aligned along the NNW direction. The geophysical surveys featured a NNW trending high chargeability and resistivity zone that parallel the gold structure.
Five holes for a total of up to 300m are planned in phase 1 for the testing of this target.
Figure 3: Daina 1 North Target, surface geochemistry gold anomalies and gold in saprolite anomalous points from auger drilling over ground geophysics image (Chargeability)
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Daina 2
Daina 2 is a potentially 4 km long mineralized corridor trending NNW and moderately ENE dipping characterized by a large and consistent gold in termite anomaly and strong gold in auger weathered bedrock anomalies.
Drilling in 2022 at the Daina 2 Main Zone resulted in the discovery of a new gold mineralized zone that is extensively exploited by artisanal miners. Drill highlights from the Daina 2 Main Zone discovery include:
21 m of 4.75 g/t Au, including 1 m of 85.5 g/t Au (DAI-RC-004),
15 m of 5.48 g/t Au, including 1 m of 78.4 g/t Au (DAI-RC-034-B),
37 m of 1.99 g/t Au, including 1 m of 32.6 g/t Au, and 15 m of 1.23 g/t Au, including 1 m of 12.3 g/t Au (DAI-RC-001), and
11 m of 5.50 g/t Au, including 56.6 of 1 m of g/t Au (DAI-RC-013)
The mineralization consists of sub-vertical northeast trending vein systems and disseminated sulphides, preferentially hosted in a greywacke unit (Photo 3).
The recent IP survey completed at the main zone indicates a trend of high resistivity that is closely associated with the mineralized structure and that will help to guide step out drilling.
The aim of the 2024 program at the Daina 2 target is to expand the known mineralization from the Main Zone, as well as follow up on down dip extensions. Fourteen holes for a total of 1400 m are planned in phase 1 to test the extension of the Main Zone at Daina 2.
Photo 3: Vein sets in mineralised greywacke unit at Daina 2. Field of view approximately 3m.
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Figure 4: Daina 2 Target, surface geochemistry gold anomalies and gold in saprolite anomalous points from auger drilling over ground geophysics image (Chargeability).
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Daina 6 Target
The Daina 6 Target is characterized by NNW-trending gold anomalies extending for over 1.2 km within a 300 m wide corridor. Local artisanal mining pits and shafts are widespread in this zone. Gold mineralization is associated with fractures and breccia that affected hydrothermally altered greywacke. These fractures and breccia zones contain quartz veining and boxwork after oxidized sulphides that contain the high-grade gold mineralization and targeted by artisanal miners (Photo 4).
Previous results at Daina 6 include 8 m of 1.97 g/t Au (DAI-AUG-1164), 9 m of 1.2 g/t Au (DAI-TR-015) and 3 m of 4.66 g/t Au (DAI-TR-016). High-grade results from rock chip samples collected in working pits include 10.6 g/t, 9.11 g/t, 7.02 g/t, 6.56 g/t, and 6 g/t Au. These rock chips samples consisted of strongly hydrothermally altered coarse-grained greywacke invaded by zones of quartz vein stockwork which host the high-grades gold mineralization
The results from the recent IP survey indicate that the Daina 6 target sits in an extensive zone of high chargeability trending NNW. This area of elevated chargeability is open to the south and the north and is consistent with observations of rock chips in auger and exposed saprolite in artisanal working pits.
Up to four holes for up to 400m are planned in phase 1 for the testing of this target.
Photo 4: Artisanal pits in saprolite (left) centred on a zone of intensely quartz veined greywacke.
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Figure 5: Daina 6 Target, surface geochemistry gold anomalies and gold in saprolite anomalous points from auger drilling over ground geophysics image (Chargeability)
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Salat East Target
The Salat East target is a new prospective gold target in the south-eastern corner of the Daina project characterized by artisanal workings where significant excavations into a steep west dipping, mineralized structure hosted by granite were largely developed only within the last year (Figure 5 and Photo 5).
After completion of the ground geological mapping, rock sampling and ground geophysics over the area, the company plans to complete an initial 400m RC drill to test the area.
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 NI 43-101.
About Sanu Gold
Located within the 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 in Guinea, West Africa. 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. 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
References:
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. Forward-looking statements in this news release includes, but is not limited to, the anticipated timing for completion of various exploration or drilling programs. 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; 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; general competition in the mining industry availability of capital and financing; general economic, market or business conditions, regulatory changes; timeliness of regulatory approvals as well as those factors discussed in the Company's public disclosure record. 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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