Vancouver, British Columbia–(Newsfile Corp. – February 27, 2024) – Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) (“Sanu Gold” or the “Company”) is pleased to announce that phase 1 of its geophysical program has been completed on the Company’s Bantabaye gold exploration license (“Bantabaye” or the “Licence”) in Guinea, West Africa. Located on the western margin of Guinea’s Siguiri producing basin, the License is approximately 50 kilometers (“km”) south of the multi-million ounce Lefa Gold Mine and 80 km north of the multi-million ounce Bankan Gold Project.one
Best moments:
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Multiple overlapping abnormalities: There is good correlation between known mineralization and chargeability-resistivity trends over a strike length of 4 km.
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Size and scale: The previously intersected gold mineralization at Target 2 is associated with a 2.7 km long feature defined in the survey.
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High quality impenetrable targets emerge: The bulk of the geophysical trends coincide with gold anomalies and remain undrilled.
Martin Pawlitschek, President and CEO commented: “Phase 1 of the detailed ground geophysical survey in the northern part of Bantabaye consisted of 100m Inclination Inclination (IP) induced polarization topography. The survey was successful in laterally delineating the main trends associated with known mineralization in the key target areas where initial drilling was intercepted in 2023 15 meters of 11.4 g/t Ausiincluding 4 meters of 41.2 g/t Au.”
“The tilt array IP data will help map key structures ahead of continued drilling late in Q1. The data collected to date will also guide where data will be collected for a smaller Pole-Diplole IP survey, which will help map the key target units in depth,” Mr. Pawlitschek continued.
Program summary
A total of 80.1 Line Km of 100m-spaced, north-south array tier IP survey lines have been completed, covering all priority targets in the northern part of the Bantabaye project. Survey data were collected by SAGAX Afrique of Ouagadougou, Burkina Faso. SAGAX has good experience in this type of exploration in many other fields in the region.
Interpretation by Sanu and its contractors and consultants is ongoing. Early observations confirm that gold mineralization intersects Target 2 (returned 15 meters of 11.4 g/t Audoincluding 4 meters of 41.2 g/t Au in last year’s drilling) is associated with a distinct high resistivity feature extending over a strike length of 4 Km. The basic surface irregularities of gold are closely related to this high resistivity (Figure 1). A series of charge trends with several overlying surface gold anomalies are aligned on a 2.7 km trend from Target 1 to the west, follow along Target 2 and into Target 7 (Figure 2).
Figure 1: Resistivity image, core gold anomalies and previous drill collars in the survey area, northern part of the Bantabaye license.
To view an enhanced version of this graphic, visit:
https://images.newsfilecorp.com/files/8941/199393_ab4c729af4f10b4c_001full.jpg
Figure 2: Charge image, core gold anomalies and previous drill collars in the survey area, northern part of the Bantabaye license.
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https://images.newsfilecorp.com/files/8941/199393_ab4c729af4f10b4c_002full.jpg
Next steps
The Phase 1 geophysics (Gradient Array IP) described extensive east-west trend resistivity and chargeability features closely associated with the main gold targets and anomalies. Geophysics Phase 2 will complete a program of 9 to 12 Km Pole-Dipole IP lines. The Company expects to obtain in-depth information on the underlying anomalies. The information will be incorporated into the completion of the drilling program which will include monitoring of past drilling performance. 15 meters of 11.4 g/t AuHeyincluding 4 meters of 41.2 g/t Au in target 2 from the 2023 drilling program. The start of drilling is expected at the end of the 1st quarter.
Corporate Update
The Company has approved the grant of 6,000,000 stock options to certain officers, directors, employees and consultants of the Company under the Company’s stock option plan. The options vest in equal intervals over a period of two years after the grant date, are exercisable at a price of $0.12 and expire on February 23, 2029.
Quality Assurance / Quality Control (“QA/QC”)
The Company is notified of the IP investigation by in3D Geoscience, an independent geophysical consulting firm based in British Columbia. Data collection research is subject to standard contractor protocols, including:
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daily equipment check
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signal-to-noise ratio monitoring.
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Control of extreme measurements
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Verify equipment locations
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Monitor measurement cycles
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The data is checked at the end of each day by a team at SAGAX headquarters
Sanu geophysicists and SAGAX regularly review and discuss work progress, program adjustments, data quality and modeling parameters.
Qualified Persons
The scientific and technical information contained in this press release has been reviewed and approved by Serigne Dieng, Ph.D., M.Sc., Fellow (MAIG) of the Australian Institute of Geoscientists (AIG), Director of Exploration for the Company and a qualified person within the meaning of National Instrument 43-101 – Disclosure standards for mineral projects.
Technical information about the geophysical data contained in this press release has been reviewed and approved by Todd Ballantyne, P.Geo., a member of the Engineers and Geoscientists of British Columbia (EGBC), an independent geophysical consultant (via in3D Geoscience Inc . ) to the Company and to a qualified person within the meaning of National Instrument 43-101 – Disclosure standards for mineral projects.
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 productive, but unexplored part of this region. Despite hosting both long-lived multi-million ounce gold mines and recently commissioned gold mines, Guinea’s Siguiri Basin continues to produce significant new gold discoveries.
Sanu Gold has defined several kilometers of gold-bearing structures on each of its three exploration licenses and is targeting multi-million ounce near-surface gold discoveries. Initial drill programs for the first two licenses drilled have yielded high-grade gold discoveries. The Company is operated by a highly experienced team, with a successful track record of discovery, resource development and mining licenses throughout West Africa.
Martin Paulicek
President & CEO, Sanu Gold Corp.
For more information about Sanu Gold, visit the Company’s website at www.sanugoldcorp.com or contact:
Anthony Simon
Simone Capital
416-881-5154
asimone@simonecapital.ca
Neither the Canadian Stock Exchange nor its Regulation Service Provider assumes responsibility for the adequacy or accuracy of this publication.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain statements that may be considered “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”, “will”, “may”, “could” or “should” occur. Although Sanu Gold believes that 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 significant risks and uncertainties include, but are not limited to, the Company’s plans to explore its properties and its ability to execute plans, its ability to raise sufficient capital to fund its obligations under its future property contracts, its ability to maintain its material its property agreements, mineral rights and concessions in good standing, for the exploration and development of its projects; changes in economic conditions or financial markets; the inherent risks 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 reductions in the area of license areas, accuracy of mineral resource and reserve estimates, potential for new discoveries, the Company’s ability 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 manner in the Company’s plans and business objectives for the projects; the Company’s general ability to develop the minerals of 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, reliance on key management personnel and general competition in the mining industry. Forward-looking statements are based on the Company’s management’s reasonable beliefs, estimates and opinions as of the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements should management’s beliefs, estimates or opinions or other factors change.
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one References to nearby projects are for informational purposes only and there are no assurances that the Company’s projects will achieve the same results.
si meters (“m”); The Company does not have sufficient information to determine the actual widths of the drill hole intersections. see the Sanu Gold news releases dated May 17 and July 27, 2023, for additional information.
do meters (“m”); The Company does not have sufficient information to determine the actual widths of the drill hole intersections. see the Sanu Gold news releases dated May 17 and July 27, 2023, for additional information.
Hey meters (“m”); The Company does not have sufficient information to determine the actual widths of the drill hole intersections. see the Sanu Gold news releases dated May 17 and July 27, 2023, for additional information.