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Sanu Gold Expands Footprint of Key Targets at the Bantabaye Permit in Guinea, West Africa

13.02.2024  |  Newsfile

Vancouver, February 13, 2024 - Sanu Gold Corp. (CSE: SANU) (OTCQB: SNGCF) ("Sanu Gold" or the "Company") is pleased to announce the results of a recently completed infill termite mound and soil sampling program on the Company's Bantabaye gold exploration permit ("Bantabaye" or the "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") south of the multi-million-ounce Lefa Gold Mine and 80 km north of the multi-million ounce Bankan Gold Project.1

Highlights:

  • Footprint of key target areas expanded: New results have been integrated into the project database to assist in delineating drill targets.

  • Prominent gold anomalies between the Bantabaye Thrust Fault and the Tinkisso Fault: There is a 4.5 km overall trend coincident with the main structural corridor.

  • Strong gold signature: Consistent anomalies delineated at >0.1 g/t Au in surface geochemistry with one termite mound sample returning a maximum of 1.94 g/t Au2

Martin Pawlitschek, President and CEO commented: "The infill termite mound and soil sampling has been highly effective in increasing the resolution of the east-west oriented surface gold anomalies at Bantabaye. The results from this work show coherent and expanded gold anomalies that parallel the main interpreted structural zones over key target areas, where initial drilling in 2023 returned 11.4 g/t Au over 15 m3, including 41.2 g/t Au over 4 m."

"This new data will form an integral part of the overall project database, which includes very promising preliminary results from our ongoing ground geophysics program, with the overall objective of defining our next round of drill targets. The work program continues, with drilling planned to commence before quarter-end," continued Mr. Pawlitschek.

Program Summary

A total of 934 termite mound and soil samples were collected on a 50 by 100 m grid covering a 5 km2 area with north-south trending lines in Bantabaye North. The samples were analyzed for their gold content, with 44 of 934 samples returning values over 0.2 g/t Au (Table 1). The results of this work better define the high-priority target areas previously outlined by surface sampling, auger, and reverse circulation ("RC") drilling (Figure 1).

Results highlight prominent east west to east northeast trending gold anomalies within the structural corridor between the Bantabaye Thrust Fault and the Tinkisso Fault. This gold trend extends for over 4.5 km and is coincident with mapped and interpreted east-west to east-northeast trending felsic and mafic units that host the gold mineralization in this area. These felsic and mafic units were previously intercepted in initial drilling in 2023 at Target 2 (returning 11.4 g/t Au over 15 m, including 41.2 g/t Au over 4 m) and at Target 7 (returning 1.2 g/t Au¹ over 40 m¹, including 5.4 g/t Au over 4 m in channel BANT-TR-03).

Results of this infill sampling program provide excellent resolution of the surface gold footprint of Targets 1, 2, 3, 4, 7 and 8 (Figure 1). Field investigations and terrain analysis suggest that gold anomalies at Targets 1, 2, 3, 7 and 8 are located close to and on top of primary mineralised structures (Figure 1). Targets 4, 5, 6 and 9 while extensive are in more complex regolith covered areas that involve a component of transport and dispersion (Figure 1).

Results indicate the occurrence of multiple sets of strong, parallel northwest-trending gold anomalies that form en echelon fracture systems within the structural corridor between the Bantabaye Thrust Fault and the Tinkisso Fault. Individual gold-bearing anomalies coincident with structures are up to 1 km in length and locate within a 5 km long mineralized corridor.



Figure 1: Location expanded footprint of termite mound and soil gold anomalies at Bantabaye North, with ground geophysics program, interpreted geology and key target areas.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8941/197687_caab2d3104543a57_001full.jpg

Table 1 : Bantabaye North infill termite mound and soil sampling results.

Au range (ppb) <25 25-50 50-100 100-200 200-2,000
Number of Samples 516 162 75 63 44
Minimum 0.01 25 51 101 201
Maximum 25 49 100 196 1945

Next Steps

These results are very helpful in firming up the extent of the east west trending mineralized structures and together with the ongoing program of ground geophysics (IP and ground magnetics), are being integrated into the overall project database to finalize a follow up drill program to start in late Q1, which will include follow up on the previous drill result of 11.4 g/t Au4 over 15 m, including 41.2 g/t Au over 4m at Target 2 from the 2023 drilling program.

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 ''Leach Well geochemical analysis LWL69M'' at the SGS Laboratory in Ouagadougou, Burkina Faso ("SGS"). SGS is an internationally recognized and commercially certified laboratory and is independent of Sanu Gold.

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

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 prolific, yet underexplored part of this region. Despite being home to both long-lived multi-million ounce gold mines and recently commissioned gold mines, Guinea's Siguiri Basin continues to produce important new gold discoveries.

Sanu Gold has defined multi-kilometer long gold-bearing structures on each of its three exploration permits and is targeting near-surface multi-million ounce gold discoveries. Initial drill programs on the first two permits drilled have yielded high-grade gold discoveries. The Company is operated by a highly experienced team, with successful records of discovery, resource development and mine permitting across 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:

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 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, including local mining regulations and surface area reductions of permit areas, 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 References to nearby projects is for information purposes only and there is no assurances that the Company's projects will achieve the same results.
2 grams of gold per tonne ("g/t Au").
3 metres ("m"); The Company does not have sufficient information to make a determination of the true widths of the drill hole intersections; see Sanu Gold news releases dated May 17 and July 27, 2023, for additional information.
4 metres ("m"); The Company does not have sufficient information to make a determination of the true widths of the drill hole intersections; see Sanu Gold news releases dated May 17 and July 27, 2023, for additional information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/197687


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