Vancouver, British Columbia--(Newsfile Corp. - July 18, 2024) - Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) ("Sanu Gold" or the "Company") is pleased to announce a comprehensive follow-up program involving geophysics and drilling at new high-priority targets, Daina 1 North and Daina 1 South, located within the Daina Exploration Permit in the prolific Siguiri Basin, Guinea, West Africa.
Key Highlights:
- Untapped Potential: Significant gold trends identified on the Daina permit remain untested. Daina 1 North and Daina 1 South offer substantial size potential, representing major opportunities for new discoveries.
- Extension of Known Discoveries: Recent IP geophysics have indicated that mineralization at Daina 2 extends well beyond previously drilled areas, presenting further exploration potential.
- High-Grade Surface Gold: Historical and recent exploration activities have revealed high-grade gold mineralization at surface:
- 9m at 7.97 g/t1 Au from trench DAI-TR-007 at Daina 1 South.
- Rock chip samples up to 61.6 g/t Au at Daina 1 South and Daina 6.
- Significant Trends: Geophysical surveys have identified substantial chargeability and resistivity trends correlating with gold mineralization, necessitating further investigation.
Martin Pawlitschek, President and CEO of Sanu Gold, stated: "The results from our initial IP surveys at Daina have been very encouraging, showing clear trends that align with surface gold anomalies. These findings will guide our upcoming drilling campaigns to unlock the full potential of these targets."
Exploration Plan
Daina Permit Overview
The Daina permit contains two priority gold targets that to-date remain untested by systematic drilling. These are the Daina 1 North and Daina 1 South Targets. The permit is host to extensive artisanal gold workings which occur throughout the permit with significant workings developed in the oxidized bedrock at Daina 1 South, Daina 6 and Daina 1.
The permit immediately to the south is operated by AngloGold Ashanti, who have a large gold mining operation 50 km to the southwest of Daina and who are evaluating advanced gold prospects 20 km to the southwest of Daina and immediately adjacent to the Diguifara permit (Figure 1).2
Figure 1. Daina Permit, Sanu Gold Targets, major mining company permits, regional structures, gold mines and prospects.
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Daina 1 South
The gradient IP survey completed at this target earlier this year identified a 1.2 km zone with elevated chargeability trending NNW (Figure 2), aligning with significant gold anomalies from auger sampling and surface geochemistry.
Notable results include (Figure 1):
- Trench DAI-TR-007: 9 m of 7.97 g/t Au, including 3 m of 21.75 g/t Au and
- Auger hole: 3 m of 6.59 g/t Au, including 2 m of 6.48 g/t Au (DAI-AUG-1250) and 9 m of 2.26 g/t Au, including 2 m of 9.78 g/t Au (DAI-AUG-1246) from the 2021/2022 auger programs
- High-grade gold in rock chip samples including 61.6 g/t Au, 16.2 g/t Au and 12.8 g/t Au (Figure 1)
The Company plans to extend the IP coverage in this area to the north and south of the existing block, as well as follow up with additional rock chip sampling and mapping in areas that have been newly exposed by artisanal mining activities. The surveys will be supplemented with select line of pole-dipole IP to assist with mapping the dip orientation of the main structures, which will assist with determining the main azimuth orientation to be used in the drilling program.
Figure 2: Target Daina 1 South, Chargeability trend with saprolite gold auger anomalies, rock samples, trenches, drill collars and artisanal workings.
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Daina 1 North
The program completed at Daina 1 North earlier this year (News Release April 2, 2024) detected a resistivity trend extending for over 1 km (Figure 3) in a North South orientation. High grade gold values in saprolite have been returned from auger sampling, eg. DAI-AUG-1201 with a peak value of 39.30 g/t Au from the saprolite horizon (Figure 1), (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 October 18, 2022). There are also extensive surface artisanal gold workings some of which align with the trend delineated in geophysics.
The Company plans to extend the IP coverage in this area to the north and south of the existing block, rock chip sampling and mapping in areas that have been newly exposed by artisanal mining activities.
Figure 3: Target Daina 1 North Resistivity trend with saprolite gold auger anomalies, rock samples, trenches, drill collars and artisanal workings.
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Daina 2
The gradient IP geophysics completed at Daina 2 earlier this year (News Release April 2, 2024) defined a well-developed resistivity trend associated with most of the drill intercepts and the main artisanal pit (Figure 4). These intercepts from the Company's first drilling program (News Release October 3, 2022) included:
- 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
The results from this survey have defined a large IP resistivity trend which extends north northwesterly and south southeasterly 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-sulfide (pyrite and arsenopyrite) content and systems of quartz veinlets associated with greywacke which host the gold mineralization.
Figure 4: Resistivity features at Daina 2, previous RC drill location with intercept highlights, auger samples, termite gold anomalies, extend of artisan surface workings and planned extensions to the IP surveys.
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Next Steps
The Company will prepare to start field work on the IP geophysics extensions (Figure 5) as soon as the peak of the wet season has passed towards the end of September. The program line clearing, data acquisition, data processing and mapping is estimated to take 6 to 8 weeks. The results from phase of work will be used to plan a program of Air Core drill testing over the most prospective parts of the priority targets.
Figure 5: Resistivity features at Daina 2, previous RC drill location with intercept highlights, auger samples, termite gold anomalies, extend of artisan surface workings and planned extensions to the IP surveys.
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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 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 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 Inc., 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 NI 43-101.
About Sanu
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, permits 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")
2 Reference to nearby properties is for information purposes only and there is no assurances the Company's properties will achieve similar results.
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SOURCE: Sanu Gold Corp.
