Sanu Gold updates Bantabaye Project, Guinea
Sanu Gold Corp. [CSE-SANU; OTCQB-SNGCF] reported that drilling is progressing well with 14 holes and 1,652 metres completed at Target 2 on the company’s flagship Bantabaye Project located on the prolific western margin of the Siguiri Basin of Guinea, West Africa. The company has been integrating its latest geophysical data into a structural geology model for Target 3 and Target 7. This model has provided a basis for planning an initial drill test comprised of 15 holes along four lines for an estimated 1,500 metres.
Highlights: Drilling at Target 2 is progressing well: Fourteen holes for a total of 1,652 metres have been completed to-date in the priority area of Target 2. Each hole has intersected zones of alteration, quartz veining and sulfides over metres to tens of metres.
Initial batch of samples dispatched: A batch of 678 samples from the first seven holes has been sent to the laboratory. A second batch is expected to be sent shortly.
Target 3 and 7 structure has a large footprint: The combined strike length of Targets 3 and 7 is 1,500 metres. The targets are characterized by a chargeability and resistivity response at depth, below the deeply weathered saprolite zone.
Initial Drill Testing Planned: The recently completed geophysics shows drilling needs to focus down dip and the to the south of the main surface gold anomaly and artisan workings. The company has designed a program of 15 priority holes on four lines to drill test the target area, requiring approximately 1,500 metres of drilling.
Martin Pawlitschek, President, and CEO, commented: “We are excited that the drilling program at Bantabaye, currently focused on Target 2, is progressing very well with 14 holes completed. We have also finalized our structural model and plans for initial drill testing of the main structure at Targets 3 and 7. These targets sit on the same contiguous structure that is linked to Target 2. With over 1,500 metres of strike length to test at Target 3 and 7 this presents a significant size target. The Company has commenced access track and drill pad preparation at these targets.”
The initial target test program at Target 3 and Target 7 consists of 15 planned holes for an estimated 1,500 metres. The company has integrated the recent geophysics, 2023 drilling and surface data into the structural model. Similar work is in progress for the other targets and will be announced as soon as practical.
Access and drill pad preparations are underway, and drilling will commence once the priority holes at Target 2 are completed. The program will test the structure on its down dip portion along a 800-metre trend on lines spaced 100m to 300m apart. The lines are planned so that the structure is intercepted near surface and down dip to a vertical depth of up to 150 metres. Additionally, more systematic, lines of drilling are likely on receipt of positive results.
Access and drill pad preparations have commenced at Targets 3 and 7. The drill rig is currently completing the Phase 1 drill holes at Target 2, after which it will move to complete drill testing at Target 3 and Target 7.
Located within the world class Siguiri Basin, host to several operating mines, Sanu is exploring three high quality gold exploration permits in Guinea, West Africa targeting multi-million-ounce gold discoveries. The company has defined multi-kilometer scale gold bearing structures on each of the gold exploration permits, with multiple high-value drill targets.