Mr. Martin Pawlitschek reports
SANU GOLD ANNOUNCES CHANNEL SAMPLING FROM THE BANTABAYE PERMIT: 1.1 G/T AU OVER 43 M, INCLUDING 4.2 G/T AU OVER 6 M
Sanu Gold Corp. has released the first results from a channel sampling program at the company's flagship Bantabaye gold exploration permit in Guinea, West Africa. The permit, which lies on the western margin of Guinea's prolific Siguiri basin, is located approximately 50 kilometres (km) (1) south of the multimillion-ounce Lefa gold mine and 80 km north of the multimillion-ounce Bankan gold project.
- The first channel at target 7 returned an average of 1.1 grams per tonne (g/t) gold (Au) (1) over 43 m (1), including 4.2 g/t Au over six m (BANT-TR-1);
- The channel sampled strongly sheared and hydrothermally altered felsic volcanics and returned gold mineralization over its entire 43 m length, with individual samples returning up to 13.5 g/t over one m;
- Channel BANT-TR-1 is located within the central part of target 7, where initial drilling intersected gold mineralization along a 500 m long section of the Tinkisso fault;
- Rock chip samples from target 7 returned grades of up to 25.2 g/t Au.
Martin Pawlitschek, president and chief executive officer, commented: "Initial drilling at Bantabaye earlier this year was successful in intersecting broad zones of near-surface gold mineralization in three of the four target areas tested, including a high-grade discovery at target 2, which is open in all directions, and a broad zone of gold mineralization at target 7 that has been a focus for intense artisanal mining. During our current drill hiatus through the peak of the wet season, we have conducted follow-up surface work in key areas to prioritize targets for our next phase of drilling. The results announced today are extremely encouraging and point to the potential of this extensive, structurally hosted, gold mineralized corridor."
Channel BANT-TR-01 sampled a 43 m long extent of saprolitized bedrock at one m intervals at target 7 from new exposures created by the construction of drill roads and pads. The objective of this sampling was to further test the mineralized felsic intrusive intersected by the first phase of reverse circulation (RC) drilling (see Sanu Gold news release dated July 27, 2023). The northeast-trending channel contains highly sheared, strongly hydrothermally altered and locally brecciated felsic intrusive with quartz veinlet stockworks and boxwork after sulphide. All samples from the channel returned gold values above detection limit, with 13 of 43 samples returning grades above 1.0 g/t Au, including 13.5 g/t Au over one m, 5.1 g/t Au over one m and 3.1 g/t Au over one m.
In addition, eight rock chip samples were collected from saprolitized felsic intrusive rock at target 7 in proximity to BANT-TR-1 and returned gold values of up to 25.2 g/t Au, 5.2 g/t Au and 1.6 g/t Au. The rock chip samples comprised highly sheared, hydrothermally altered and locally brecciated felsic intrusive with stringers of quartz veinlets and boxwork after sulphide.
Gold mineralization at target 7 is associated with a northwest-striking and shallowly southwest dipping felsic intrusive that extends for over 500 m along strike and 150 m in width. As previously announced, the company has drilled a total of 1,603 m in 14 RC holes at target 7. Highlights from this drilling included:
- 0.91 g/t Au over nine m, including 1.55 g/t Au over one m and 2.11 g/t Au over two m (BANT-RC-23);
- 0.87 g/t Au over 13 m, including 1.65 g/t Au over three m and farther downhole 3.47 g/t Au over one m (BANT-RC-22) (2).
Target 7 is located within a 700 m long area extensively worked by small-scale artisanal miners. Drilling to date at this target has not intersected the high-grade mineralization exploited by artisanal miners and it is interpreted that the relatively shallow drilling completed to date has been exclusively within areas where the high-grade mineralization has been mined out.
Results from BANT-TR-01 and high-grade gold values in rock chips samples, combined with initial drill results from target 7, confirm the presence of an extensive gold mineralized corridor associated with altered and deformed felsic intrusive rock. Mineralization is open in all directions and continuing work is focused on delineating targets for the next phase of drilling at Bantabaye.
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 (FA505) at the SGS Laboratory in Bamako, Mali. SGS is an internationally recognized and commercially certified laboratory and is independent of Sanu Gold.
The scientific and technical information contained in this news release has been reviewed and approved by 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 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 is targeting multimillion-ounce gold deposits and has discovered high-grade gold mineralization in the inaugural drill programs at both Bantabaye and Daina. Sanu Gold is operated by a highly experienced team, with successful records of discovery, resource development and mine permitting in West Africa.
(1) Kilometres (km), metres (m), grams per tonne gold (g/t Au).
(2) The company does not have sufficient information to make a determination of the true widths of the drill hole intersections noted in this release.
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