Sanu Gold Corporation, in 2023, marked a year of significant advancement in its gold exploration projects in Guinea, West Africa. The company’s exploration endeavors, particularly in its Bantabaye, Diana, and Diguifara Gold Exploration Permits, have yielded impressive results, contributing to its growing prominence in the region.
At the forefront of these achievements is the Bantabaye project, where Sanu Gold made a notable near-surface high-grade gold discovery. This discovery is particularly striking, with results showing 11.4 grams per tonne (g/t) of gold (Au) over 15 meters (m), including an exceptionally high grade of 41.2 g/t Au over 4m. This discovery is significant as it is open in all directions, suggesting the potential for further high-grade finds.
Despite the challenging landscape for junior explorers in 2023, characterized by a tightening capital market, Sanu Gold demonstrated its resilience and strategic acumen by securing $6.45 million through non-brokered private placements. This funding positions the company for continued exploration and potential expansion in one of the world’s premier gold mining regions.
Martin Pawlitschek, President and CEO of Sanu Gold, reflects on the past year’s success, “At our flagship Bantabaye project, we’ve made an exciting high-grade grassroots discovery. The second drilling on the property yielded the remarkable 11.4 g/t Au over 15m, including 41.2 g/t Au over 4m. This discovery, which is open in all directions, is just one of several high-priority targets that we are following up on.”
Pawlitschek also highlights the next exploration phase at Bantabaye, which began in late 2023 with surface work and ground geophysics, setting the stage for follow-up drilling. The initial results from the geophysical survey are promising, indicating good chargeability and resistivity anomalies over the high-grade Target 2 discovery. These findings align with the signatures of major deposits in the region, suggesting a potential for significant gold reserves.
Despite 2023 being a challenging year for junior explorers, partly due to record gold prices, Sanu Gold’s ability to attract new institutional and high-net-worth investors and raise capital is commendable. Pawlitschek extends his gratitude to the company’s loyal shareholders, acknowledging their support in enabling the company to drive discovery in a highly prospective and underexplored region.
Further highlighting Sanu Gold’s exploration success, the company reported significant findings at its Bantabaye project, strategically located on the western edge of Guinea’s prolific Siguiri Basin. A comprehensive inaugural drill program in the first half of 2023 led to the high-grade discovery at Target 2. The company also undertook a rock chip and channel sampling program at Target 7 in Q3 2023, revealing mineralized exposures including 1.2 g/t Au over 40m and 5.4 g/t Au over 4m.
In the latter part of 2023, initial cyanide leach test results showed an average of 92–93% gold recoveries from the main mineralized rock types. This indicates that highly favorable gold recoveries can be achieved with cyanide leaching, a positive sign for the project’s future development.
Sanu Gold also announced a ground geophysics program covering up to 90 line kilometers of the area in Q4 2023. Preliminary results from this survey have been encouraging, showing a zone of elevated chargeability and resistivity coinciding with Target 2. This area extends approximately 300m west and east, with further results expected to refine target definition for follow-up drilling scheduled for Q1 2024.
In conclusion, Sanu Gold Corporation’s endeavors in 2023 have positioned it as a burgeoning force in West Africa’s gold mining sector. Its successful exploration activities, coupled with strategic funding, have set a strong foundation for continued success in the region. As the company looks forward to 2024, its focus on follow-up drilling and further exploration holds the promise of uncovering more significant gold deposits, contributing to the growth of the gold mining industry in West Africa.
