Sanu Gold achieved a notable breakthrough in its exploration activities, unveiling a high-grade gold discovery near the surface at the Bantabaye project. The results highlighted an impressive yield of 11.4 g/t Au over 15 m, including 41.2 g/t Au over 4m.
Despite the formidable challenges faced by junior explorers throughout the year, Sanu Gold demonstrated resilience by securing substantial funding. Through non-brokered private placements, the company successfully raised $6.45 million. This financial achievement not only showcased the company’s ability to navigate a challenging landscape but also positioned Sanu Gold for ongoing success in the world’s premier gold mining region.
Reflecting on the accomplishments of 2023, the company’s CEO remarked, “As we move into the new year, I would like to take the opportunity to look back at Sanu Gold’s accomplishments in 2023. At our flagship Bantabaye project in Guinea, West Africa, our exploration efforts paid off with a high-grade grassroots discovery. The second hole ever drilled on the property returned 11.4 g/t Au over 15 m, including 41.2 g/t Au over 4m. This discovery is open in all directions and is just one of several high-priority targets we are back on the ground following up on.
“The next phase of exploration at Bantabaye began in late 2023, with surface work and ground geophysics well underway in advance of follow-up drilling planned to begin later this quarter.
“The initial results from the geophysical survey are highly encouraging. We are seeing a good chargeability and coincident resistivity anomaly over the high-grade Target 2 discovery and strong similarities to the signature of major deposits in the region.”
Acknowledging the industry challenges faced by junior explorers in 2023, the CEO highlighted Sanu Gold’s success in raising capital and attracting new institutional and high-net-worth investors despite the capital markets being essentially closed for many peers.
“I would like to take this opportunity to thank our loyal shareholders. With their support and a strong treasury, the company is well-positioned to continue to drive discovery in a highly prospective and underexplored part of the world’s number one gold mining region,” continued Pawlitschek.
Sanu Gold’s breakthroughs at Bantabaye
Situated strategically on the western fringe of Guinea’s prolific Siguiri Basin, Sanu Gold Corporation’s flagship Bantabaye project continues to unveil its potential as a highly promising exploration site.
Following an extensive inaugural drill program in the first half of 2023, the company disclosed a noteworthy near-surface high-grade discovery at Target 2, showcasing impressive results of 11.4 g/t Au over 15 m, including 41.2 g/t Au over 4m.
In the third quarter of 2023, Sanu Gold executed a rock chip and channel sampling initiative at Target 7, spanning a length of 700m and frequently utilized by small-scale artisanal miners. The channel sampling outcomes revealed mineralized exposures, with notable results of 1.2 g/t Au over 40m and 5.4 g/t Au over 4m, indicating sustained mineralization in both channels.
During the fourth quarter of 2023, initial results from cyanide leach tests indicated average gold recoveries ranging from 92% to 93% for the main mineralized rock types. These results suggest highly favorable gold recovery rates achievable through cyanide leaching processes.
Sanu Gold made an announcement in Q4 2023 regarding the initiation of a ground geophysics program, covering an expansive area of up to 90 line km. Preliminary findings point to a zone of elevated chargeability and resistivity, coinciding with Target 2 and extending 300m west and a similar distance east. The survey remains underway, with further results anticipated. The primary objective is to refine the target definition for subsequent drilling, scheduled for the first quarter of 2024.
Source: Miningreview