Vancouver, British Columbia--(Newsfile Corp. - September 1, 2022) - Sanu Gold Corporation (CSE: SANU) ("Sanu Gold" or the "Company") is pleased to report the presence of extensive gold anomalies from systematic termite mound sampling at its Bantabaye gold exploration permit ("Bantabaye" or the "Permit") in Guinea, West Africa. The Permit is located 50 kilometres ("km") south of the multi-million ounce Lefa Gold Mine.
Highlights
- 5,460 termite mound samples were collected at Bantabaye, with results defining ten gold anomalies and individual targets extending up to 4 km in strike length,
- Termite mound sampling returned up to 2.0 grams of gold per tonne ("g/t Au"),
- Gold mineralization is coincident with a thrust fault and shear zone system interpreted from field mapping and available regional imagery.
Extensive Gold Anomalies Defined by Systematic Termite Mound Sampling
Field mapping and the review of geochemical results from a 5,460 sample termite mound sampling program ("Sampling" or the "Program") has defined a total of ten gold anomalies, each trending 1 to 3 km in strike length. The Program covered the entire 99.9 square kilometre ("km2") Permit with an east-west oriented grid with 200 metre ("m") x 50 m to 400 m x 50 m line spacing.
Laboratory analysis of samples from the Program returned multiple gold values greater than 0.5 g/t Au (Figure 1). The termite mound gold anomalies are coincident with geological structures identified from field mapping.
Results from the Program led to the discovery of a system of east-west oriented anomalous zones spatially associated with a complex system of west- to west-northwest-striking thrust faults and fold structures that deformed metavolcanoclastic rocks intruded by altered felsic and mafic intrusive rocks. Results also show the occurrence of a parallel system of north-northeast- and north-northwest-trending strong gold lineaments associated with a system of north-northeast- and north-northwest-trending strike-slip fault systems, fracturing the sedimentary and volcanoclastic rocks.
The gold anomalies align with the regional north-northeast and north-northwest-striking faults and the west- to west-northwest-striking thrust faults that transect the metasediments and metavolcanics visible on regional geological and geophysical maps and images.
Sampling from Targets 1 to 4 at Bantabaye define a series of 300 to 400 m long by 200 m wide west- to west-northwest-trending gold anomalies associated with a system of west- to west-northwest-striking thrust fault and fold structures that define the structural contact between sedimentary and volcanoclastic rocks (Figure 1). Extensive artisanal mining at Bantabaye has exposed the thrust structures in these target areas, where coarse-grained gold is extracted from the hydrothermally altered and strongly deformed metavolcanoclastic and felsic and mafic intrusive rocks. These thrust-associated gold anomalies are ranked as priority targets for follow up drilling based on the presence of gold in saprolite in areas of artisanal mining and associated with well-defined termite mound gold anomalies.
Targets 5 and 6 are north-northwest-trending gold lineaments associated with a system of north-northwest-trending strike-slip fault systems that deformed the volcanoclastic sequence at Bantabaye North, the northern block of the Permit (Figure 1). These targets are localized north of the main thrust fault zone and occur as parallel sets of structurally aligned gold lineaments. Large artisanal mining pits are widespread along these targets, allowing extraction of gold from mineralized saprolite and altered quartz veins.
Target 7 is a laterally extensive 2.3 km long by 300 m wide, north-northeast-trending gold anomaly associated with many nearby clusters of parallel gold lineaments south of the main thrust fault zone at Bantabaye North. These north-northeast-trending gold anomalies are exposed by erosion at their northern extremities, where artisanal miners target the sheared and altered rocks associated with numerous quartz veins. The southern portion of Target 7 is covered by a thick in-situ laterite. Planned auger drilling will systematically sample the bedrock beneath the laterite and allow evaluation and definition of the mineralized structures prior to reverse circulation ("RC") and diamond drilling.
Target 8 occupies the northern portion of Bantabaye South and extends over a length of 4.5 km and a width of 700 m. This gold anomaly is composed of a series of closely spaced, sub-parallel north-northeast-trending structurally aligned gold lineaments. Altered and sheared volcanoclastic rocks invaded by numerous quartz veins host the gold anomaly, where artisanal miners are extracting gold from quartz veins in pits along the trend of this target.
Targets 9 and 10 are localized in the southern part of Bantabaye South and extend over a length of 2.5 km and a width of 1.5 km. The gold anomaly in these targets appears to be controlled by a parallel system of fault structures that deformed the volcanoclastic rocks and trends parallel to a prominent northeast to east-northeast-trending calc-alkaline granite intrusive rock that are likely the main source of gold-bearing hydrothermal fluids. Quartz vein float is widespread over the area of Targets 9 and 10.
Small alluvial gold deposits along paleo placers of Tertiary age are present on Permit. Several isolated gold in termite mound anomalies, containing up to 0.1 g/t Au, are associated with gravel deposits in active and paleo placers along the main drainages.
Next Steps
The Company is nearing completion on a >11,000 m auger drill sampling program on the Permit. Auger drilling provides a fast and cost-effective tool to systematically sample the weathered bedrock beneath the extensive laterite cover, which ranges in thickness from 10 to 20 m. Systematic auger follow up will be used to define the mineralized structures underneath the extensive laterite cover. Significant trends and anomalies defined by auger drilling will be further tested with RC and/or diamond drilling.
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 ''Leach Well geochemical analysis LWL69M'' at the SGS Laboratory in Bamako, Mali ("SGS"). SGS is an internationally recognized and commercially certified laboratory and is independent of Sanu Gold.
Figure 1 : Map of the Bantabaye gold exploration permit and termite mound geochemical sampling results.
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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 Gold 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 email info@sanugoldcorp.com or visit website at
www.sanugoldcorp.com
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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