2023-03-02 05:36:15
Vancouver, British Columbia–(Newsfile Corp. – March 2, 2023) – Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) (“Sanu Gold” or the “Company”) is pleased to announce the commencement of the 2023 drill program on its highly prospective gold exploration permits in Guinea, West Africa.
The Company has planned a 25,000 metre (“m”) reverse circulation (“RC”) drill program (the “2023 Program”) which includes 10,000 m of RC drilling on each of the Daina and Bantabaye Gold Exploration Permits (“Daina” and “Bantabaye”, respectively) and a further 5,000 m of RC drilling on the Diguifara Gold Exploration Permit (“Diguifara”).
Martin Pawlitschek, President and CEO of Sanu Gold commented: “Drilling is scheduled to commence in early March on Daina to follow up on the 2022 discovery of the Daina 2 Main Zone, while access and drill pads are being prepared at Bantabaye, our flagship project. Following a first round of drilling at Daina, we plan to begin the inaugural drill program at Bantabaye. Drilling in 2022, which focused primarily on one target on one of our three properties, yielded an exciting new discovery at the Daina 2 Main Zone. We are resuming drilling with a significantly larger program to both follow up on our first discovery and test some of our best targets, which we couldn’t access in last year’s drill program that took place during the wet season.”
“West Africa is the number one gold producing region in the world, and Guinea’s underexplored Siguiri Basin has proven itself for the discovery of near surface, oxide-hosted, multi-million ounce gold deposits. Our targets in the Siguiri Basin have excellent potential for additional new discoveries and we look forward to updating the market with our results over the coming months,” continued Mr. Pawlitschek.
Daina Highlights and Plans
- An initial (3,675 m, 42 hole) RC drill program was conducted on the D1, D2 and D6 targets in 2022 (the “2022 Program”), leading to the discovery of Daina 2 Main Zone (“D2MZ”), located in the central portion of the 4.5 kilometre (“km”) long D2 target area. Gold mineralization was intersected in all three target areas tested in the 2022 Program. The D2MZ was tested on three 65 m spaced lines and is open along strike and downdip. RC drill highlights from the D2MZ include:
- 5.48 grams of gold per tonne (“g/t Au”) over 15 metres (“m”) including 78.4 g/t Au over 1 m, as well as 3.69 g/t Au over 1 m further downhole in DAI-RC-034-B,
- 4.75 g/t Au over 21 m, including 85.5 g/t Au over 1 m, in DAI-RC-004,
- 1.99 g/t Au over 37 m, including 32.6 g/t Au over 1 m and 15.0 g/t Au over 1 m, as well as 1.23 g/t Au over 15 m, including 12.3 g/t Au over 1 m in DAI-RC-001, and
- 5.50 g/t Au over 11 m, including 56.6 g/t Au over 1 m in DAI-RC-013[1].
- The 2023 Program is commencing at Daina and will include additional testing of the D2MZ and other areas along the 4.5 km D2 target, as well as later in H1/23, testing of the sub-parallel D1 and D6 targets, which received only initial scout drill testing in 2022.
- Further drill testing of the D2MZ, which is characterized by bonanza-grade veins within a broader and lower-grade altered and mineralized envelope, will focus on optimizing drill orientations to better sample the regularly spaced bonanza-grade veins mapped and sampled in bedrock exposures.
Bantabaye Highlights and Plans
- At the Company’s flagship project on the western margin of the Siguiri Basin, ten high-priority target areas with a cumulative 9 km strike extent were identified in 2022. A new zone of mineralization was identified in early 2023 and mapping and sampling of this new zone is underway.
- As drilling gets underway at Daina, drill roads and pads will be prepared at Bantabaye, with drilling planned to commence by early April.
Diguifara Highlights and Plans
- At Diguifara, which is strategically located between permits being actively explored and/or developed by AngloGold Ashanti Limited and Endeavour Mining plc, Sanu Gold has identified four high-priority target areas with a cumulative 7 km strike extent.
- The Company is currently evaluating the timing to commence a first phase of drilling at Diguifara.
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 Guinea’s 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. 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. In its inaugural drill program in 2022, Sanu Gold discovered the high-grade Daina 2 Main Zone on the Daina Gold Exploration Permit. Sanu is operated by a highly experienced team, with successful records of discovery, resource development and mine permitting in West Africa.
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:
Fiona Childe, Ph.D. P.Geo.
VP, Corporate Development & Communications, Sanu Gold Corp.
+1 647-473-7268 This email address is being protected from spambots. You need JavaScript enabled to view it.
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.
[1] The Company does not have sufficient information to make a determination of the true widths of the drill hole intercepts reported from Daina to date. For additional information see the Company’s news releases dated October 3 and 18, 2022.