00:46:43 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Sanu Gold Corp
Symbol SANU
Shares Issued 58,341,001
Close 2022-10-03 C$ 0.37
Market Cap C$ 21,586,170
Recent Sedar Documents

Sanu Gold drills 21 m of 4.75 g/t Au at Daina

2022-10-03 10:08 ET - News Release

Mr. Martin Pawlitschek reports

SANU GOLD ANNOUNCES NEW DISCOVERY FROM INITIAL DRILL PROGRAM AT THE DAINA GOLD EXPLORATION PERMIT IN GUINEA, WEST AFRICA

Sanu Gold Corp. has released significant gold assay results from the first holes of its initial reverse circulation (RC) drill program on the Daina gold exploration permit in Guinea, West Africa, including results from the Daina 2 Main zone discovery.

Highlights from the Daina 2 Main zone:

  • 4.75 grams per tonne gold over 21 metres, including 85.5 g/t Au over one m, in DAI-RC-004;
  • 1.99 g/t Au over 37 m, including 32.6 g/t Au over one m and 15.0 g/t Au over one m, as well as 1.23 g/t Au over 15 m, including 12.3 g/t Au over one m in DAI-RC-001;
  • 5.50 g/t Au over 11 m, including 56.6 g/t Au over one m in DAI-RC-013;
  • 1.80 g/t Au over seven m, including 3.29 g/t Au over three m in DAI-RC-006;
  • 1.04 g/t Au over 15 m in DAI-RC-012.

Martin Pawlitschek, president and chief executive officer of Sanu Gold, commented: "We are extremely pleased to announce a new gold discovery at our Daina gold exploration permit in Guinea. Over the past several months, we have been working to systematically define multikilometre-long gold mineralized trends and, in our first drill holes, intersected several high-grade gold intercepts at the Daina 2 Main zone. Drilling has begun to define a moderately dipping mineralized structure intersected on the three 65 m spaced lines drilled to date. As we progress through this first and subsequent phases of drilling, we will continue to test the downdip extent of the Daina 2 Main zone as well as lateral extensions along its potentially four-kilometre-long strike extent."

Program details

The program commenced in early August, 2022, and is now complete, with 3,675 m drilled in 40 RC holes at the Daina 1, Daina 2 and Daina 6 targets. The program was designed to provide an initial drill test below high-grade gold in rock-chip samples from artisanal working pits at the Daina 2 and Daina 6 targets and strong gold-in-auger-bedrock anomalies at the Daina 1, Daina 2 and Daina 6 targets. For additional information on the rock-chip and auger sampling programs, see the Sanu Gold news releases dated July 29, Aug. 3 and Sept. 9, 2022.

Daina 2 target including Daina 2 Main zone discovery

A total of 2,609 m were drilled in 31 RC holes at the Daina 2 target to test an initial two km length of the potentially four km long mineralized corridor. Assay results have been received for the first 14 holes (DAI-RC-001 to DAI-RC-013 and DAI-RC-015), which have begun to outline a gold mineralized structure on three 65 m spaced lines in the central portion of the target, termed the Daina 2 Main zone. Initial assay results from the Daina 2 Main zone include multiple high-grade gold intercepts as summarized in an attached table and the highlights section herein.

An additional five holes were drilled on the Daina 2 Main zone (DAI-RC-014 and DAI-RC-032 to DAI-RC-34B). DAI-RC-034A was lost near the top of the prospective horizon and was redrilled as DAI-RC-034B; assay results for these remaining holes are pending. A further 14 holes were drilled at the Daina 2 target on sections up to 1,000 m north and 1,000 m south of the Daina 2 Main zone, with assays pending.

The gold mineralization encountered to date within the Daina 2 Main zone is associated with strongly deformed, hydrothermally altered and folded, coarse-grained greywacke containing quartz vein stockwork and breccia and pervasive disseminated pyrite and arsenopyrite. Key alteration associated with the gold mineralization is silicification. Interpretation of the potentially gold-bearing alteration and deformation zones demonstrates that the mineralized structure strikes north-northwest and dips moderately to the west, with a potential width of up to 50 m, and hosting several subparallel zones of gold mineralization with widths approaching 40 m. The RC drill holes intercepted deep saprolite horizons, which extend to depths of up to 50 m.

The initial results reported herein confirm the saprolite-hosted gold mineralization reported from the auger drill program at the Daina 2 Main zone extends to depth and suggest the potential for a significant north-south strike extent of mineralization in this target area.

Daina 6 target

A total of 607 m was drilled in six RC holes at the Daina 6 target to test the depth extension of high-grade gold in rock-chip samples from artisanal workings and a well-defined gold in auger bedrock anomaly. Assay results from the first four holes returned short intervals of anomalous gold mineralization up to 0.70 g/t Au over four m in the first two holes and no significant gold values in the next two holes (see attached table). Assay results for the final two holes from the Daina 6 target are pending.

Daina 1 target

Two fences of two holes each were drilled at the Daina 1 target for a total of 324 m in four RC holes to test strong gold-in-auger-bedrock anomalies. Assay results for all holes from the Daina 1 target are pending.

Next steps

Sanu Gold geologists are currently compiling data from the program with geological and structural information from areas where new artisanal mining activities have exposed previously unknown zones of gold mineralization to aid the current geological and structural model for the Daina 2 Main zone discovery. This information, together with pending results from the program, will aid in planning the next round of drilling at Daina, which the company intends to commence in early November.

Further results from the program are expected to be released in Q4 2022.

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 totalling 5 per cent of the total number of samples shipped to the laboratory were 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 is an internationally recognized and commercially certified laboratory and is independent of Sanu Gold. Sample pulps from select holes are being sent to a secondary independent laboratory for verification.

Qualified person

The scientific and technical information contained in this press release has been reviewed and approved by Dr. Serigne Dieng, PhD, MSc, 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 Corp.

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 multimillion-ounce gold discoveries. The company has defined multikilometre-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.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.