Sanu Gold Commences Ground Geophysics Program at the Bantabaye Permit in Guinea, West Africa
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Vancouver, British Columbia--(Newsfile Corp. - December 12, 2023) - Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) ("Sanu Gold" or the "Company") is pleased to announce that a ground geophysics program has commenced on the Company's flagship 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.
Highlights:
- Crews have been mobilized and a program of ground geophysics is underway at Bantabaye,
- Induced Polarization ("IP") and Ground Magnetometer ("Ground Mag") surveys are planned,
- The primary objective of this work is to refine target definition for follow up drilling in Q1 2024.
Martin Pawlitschek, President and CEO commented: "The first geophysics program on our flagship Bantabaye project is now underway. Geophysical surveys are a rapid and cost-effective method of obtaining a more robust understanding of the geology, structural setting, and signature of gold mineralization at Bantabaye, where initial drilling earlier this year returned up to 11.4 g/t Au over 15 m, including 41.2 g/t Au over 4 m1."
"Within the region, induced polarization has proven to be a particularly effective geophysical tool in the discovery and delineation of gold mineralization. The results from this program will form an important dataset that will be combined with existing drill and surface sampling datasets to better delineate key targets, with the primary objective of refining target definition for our next phase of drilling planned for early 2024," continued Mr. Pawlitschek.
Program Summary
The ground geophysics program (the "Program") is being conducted by SAGAX AFRIQUE of Ouagadougou, Burkina Faso and is planned to include IP and Ground Mag over the key gold anomalies and structures identified by termite mound sampling, auger drilling and initial reverse circulation ("RC") drilling in the northern portion of the Permit ("Bantabaye North").
The Program consists of north-south oriented lines centered on Bantabaye North, with up to 90 line km of Gradient Array IP/Resistivity, up to 9 line km of Pole-Dipole Array IP/Resistivity and up to 90 line km of Ground Mag planned (Figure 1).
Figure 1 : Location of ground geophysics program and key target areas in Bantabaye North.
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The Company and its consultants will review the data as it is collected and make modifications to the Program parameters in the field as required. It is anticipated that the survey will take 6 to 8 weeks to complete.
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:
Fiona Childe, Ph.D. P.Geo.
VP, Corporate Development & Communications
Sanu Gold Corp.
+1 647-473-7268
info@sanugoldcorp.com
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 grams of gold per tonne ("g/t Au"); 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/190655
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