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Share Name | Share Symbol | Market | Type |
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Sanu Resources Ltd Com Npv | TSXV:SNU | TSX Venture | Common Stock |
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Sanu Resources Ltd. ("Sanu") (TSX VENTURE:SNU) is pleased to announce that it has intersected a new volcanic hosted massive sulfide (VHMS) zone on its Aderat prospect 4.5km north of its Hambok Cu-Zn deposit in Eritrea. The 571m of diamond coredrilled at Aderat to date are part of a larger drill program to test the "Hambok trend", a significant geophysical feature defined by anomalous gravity and EM, and geology. Assay results are pending and will be reported as soon as they are available. The mineralization at Aderat is blind, buried beneath 2 to 3m of alluvium in flat terrain and was discovered through a trenching program based on extrapolating prospective geological trends into this area. DDH ANK-005 was targeted to test the projection, at depth, of gossanous horizons, an EM conductor, and adjacent to a gravity high on the Hambok gravity trend 4.5kms north of the Hambok Cu-Zn sulfide body. The drill hole intersected two narrow gossan horizons near the top of the hole and two bands of banded massive to semi-massive sulfides, 3.0m and 8.0m wide respectively, with traces of chalcopyrite and sphalerite deeper in the hole. The sulfide bands are within a 57m section of sericite and chlorite altered sulfidic felsic tuffs. ANK-006 was also targeted to test the projection, at depth, of gossanous horizons and a strong EM conductor adjacent to a gravity high. ANK-006 intersected two zones of massive to semi-massive pyrite-sphalerite-chalcopyrite mineralization, 5m and 12m respectively within a larger 90m envelope of strongly altered felsic tuff with disseminated pyrite with traces of sphalerite. The 12m zone, deeper in the hole, is within a 28m zone of sphalerite and chalcopyrite mineralized pyritic tuff. The presence of zinc and copper was confirmed by field XRF analysis but definitive grades are being confirmed by conventional assay techniques. ANK-007, drilled approximately 100m underneath ANK - 006, encountered only disseminated pyrite mineralization in rocks interpreted as the hanging wall of the sulfide horizon. The Aderat VHMS-style mineralization is open along strike to the northeast and southwest of the ANK-005 and 006 intersections. The company is very encouraged by this newly discovered zone and will resume drilling at Aderat after the completion of testing of the "Hambok trend" and other targets on the Mogoraib River and Kerkebet River Exploration Licenses. Dr. Demetrius Pohl, Ph.D., a Qualified Person as defined by National Instrument 43-101 and Vice President of Exploration for the Company, has reviewed and verified the technical information contained in this news release. On Behalf of the Board Wojtek A. Wodzicki, President and CEO This news release contains forward-looking statements concerning the Company's plans for its properties. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of its properties, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described in the Company's periodic filings with the British Columbia Securities Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.
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