Vancouver, British Columbia--(Newsfile Corp. - January 24, 2024) - Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) ("Sanu Gold" or the "Company") is pleased to announce that it has retained the services of Simone Capital Corp. ("Simone") to provide investor relations and capital markets advisory services.
Simone have been engaged to heighten market awareness through its proprietary database. Simone will co-ordinate road shows with retail brokers, portfolio managers, analyst and individual investors on behalf of the Company. In conducting this marketing and advertising program, Simone will employ several different communication methods, including phone calls and emails.
The consulting agreement with Simone is effective immediately, on a month-to-month basis. Simone will receive a monthly fee of $6,500. Simone is in Toronto, Ontario1, and principally owned and operated by Anthony Simone and Matthew Benedetto, both shareholders of the Company.
Martin Pawlitschek, President and CEO, commented: "As we start the year with a significant work program underway at our Bantabaye gold project, we are looking forward to working with Simone Capital."
About Bantabaye
Sanu Gold's flagship Bantabaye project lies on the western margin of Guinea's prolific Siguiri Basin, approximately 50 km south of the multi-million ounce Lefa Gold Mine and 80 km north of the multi-million ounce Bankan Gold Project, one of the most significant new gold discoveries in West Africa in recent years.
In H1 2023, the Company completed an inaugural drill program at Bantabaye, comprised of 3,198 m in 28 reverse circulation ("RC") drill holes. This work provided an initial test of three of ten target areas and resulted in a near-surface, high-grade discovery at Target 2, with 11.4 g/t Au over 15 m, including 41.2 g/t Au over 4m starting at 36 m downhole.
In Q3 2023, the Company conducted a rock chip and channel sampling program at Target 7, within a 700 m long area extensively worked by small-scale artisanal miners located 1.4 km east of Target 2. Channel sampling of mineralized exposures returned 1.2 g/t Au over 40 m, including 5.4 g/t Au over 4 m and 1.1 g/t Au over 43 m, including 4.2 g/t Au over 6 m; both channels were continuously mineralized along their length and ended in mineralization. Rock chip samples returned up to 189.7 g/t Au (see Sanu Gold news releases dated Sept. 6 and 12, 2023).
Positive initial cyanide leach test results completed in Q4 2023 returned 92 to 93% average gold recoveries from the main mineralized rock types drilled in the inaugural program, demonstrating highly favorable gold recoveries may be achieved with cyanide leaching (see Sanu Gold news release dated November 16, 2023).
In Q4 2023, the Company announced the commencement of a ground geophysics program with up to 90 line km of Gradient Array IP/Resistivity, up to 9 line km of Pole-Dipole Array IP/Resistivity and up to 90 line km of Ground Mag planned. Preliminary results show a zone of elevated chargeability and resistivity coincident with Target 2 and extending for at least 300 m to the west of the area drilled and a similar distance to the east (see Sanu Gold news releases dated Dec. 12, 2023 and Jan. 3, 2024). This survey is ongoing and additional results will be reported when received and interpreted. The primary objective of this work is to refine target definition for follow up drilling, which is planned to commence later in Q1 2024.
About Sanu Gold
Sanu Gold is a publicly traded exploration company focused on a portfolio of highly prospective gold projects in Guinea, West Africa's Siguiri Basin.
West Africa is the number one gold mining region in the world and Guinea's Siguiri Basin is a prolific, yet underexplored part of this region. Despite being home to both long-lived multi-million ounce gold mines and recently commissioned gold mines, Guinea's Siguiri Basin continues to produce important new gold discoveries.
Sanu Gold has defined multi-kilometer long gold-bearing structures on each of its three exploration permits and is targeting near-surface multi-million ounce gold discoveries. Initial drill programs on the first two permits drilled have yielded high-grade gold discoveries. The Company is operated by a highly experienced team, with successful records of discovery, resource development and mine permitting across West Africa.
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.
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
asimone@simonecapital.ca
Martin Pawlitschek
info@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, including local mining regulations and surface area reductions of permit areas, 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 Full contact information for Simone is available on its website.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/195391
SOURCE: Sanu Gold Corp.
