Sanu Resources Ltd.
TSX VENTURE : SNU

Sanu Resources Ltd.

August 02, 2006 08:00 ET

Sanu Resources Ltd.: Moule Rock Chip Results and Three New Permits Granted in Burkina Faso

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 2, 2006) - Sanu Resources Ltd. (the "Company" or "Sanu") (TSX VENTURE:SNU) announces the initial results from the Moule gold project in Burkina Faso as well as the granting of three new exploration permits. The acquisition of the new permits brings the total number of permits in Burkina to seven covering 1226 square kilometers (sq. km). Encouraging results from Moule as well as due diligence on the new licenses will lead to an expanded program for the coming field season. The Company's website has several maps showing all the permit locations and the various prospects within each license.

Moule Gold Permit

In June 2006, the Company completed its initial reconnaissance work at Moule, a gold project located in the Boromo greenstone belt. Although the permit area has active artisanal sites, it had never been previously explored due to prior ownership challenges. Sanu's work included mapping and rock chip sampling of the entire permit, but was concentrated in the northeastern portion around several highly prospective areas and artisanal sites.

The work identified an array of anomalous north-south quartz veins and quartz vein swarms contained within a northeast-southwest structural corridor approximately 16km x 4km. The quartz veins vary from 30 centimeters to 5 meters (m) wide and occur within sheared and altered intermediate volcanics. Of the 180 rock chip samples collected from outcropping quartz veins, wall rock, and alteration zones, 50 reported values greater than 300 parts per billion (ppb) gold with 34 having greater than 1000ppb gold and peak values to 9.5 g/t gold (refer to www.sanuresources.com for a map showing the prospect areas and gold distribution).

The widespread nature of anomalous gold mineralization suggests the potential for bulk-mineable targets. The Company will conduct a soil sampling program in October to more tightly define drill targets. Concurrent with this program, work will also continue at the nearby Loto and Nyieme permits.

Lati Exploration Permit

The Lati Permit (246 sq. km), located in the Boromo belt, covers a major north-south shear zone and a number of known but under-explored prospects as well as an active artisanal mining area. Lati was previously explored by the UNDP (United Nations Development Program) and BUMIGEB (Burkina Faso Office of Mines and Geology) for volcanic-hosted massive sulfides (VHMS) similar to the Perkoa zinc deposit, as well as by Carlin Resources and Incanore Resources.

Prior exploration included airborne geophysics, soil geochemistry, trenching, and drilling. Several anomalous areas that were not followed up include a gold-in-soil anomaly (1000m by 200m) in the northern part of the permit in which three samples yielded over 1 g/t gold with a peak value of 6.5 g/t gold; a UNDP prospect that reported 12m of 2.45 g/t gold in a diamond drill hole; and the Kwademen artisanal mining area area where reported gold mineralization over an area of 1250m x 250m with isolated values up to 65 g/t gold occurs in quartz veins and veinlets in a sheared granites and felsic volcanics.

Sanu will initiate a soil and trench sampling program in November to verify and better understand the extent of the reported gold anomalies before embarking on a program of RC drilling in the most prospective areas of the permit.

Tondiata Permit

The Tondiata permit (246 sq. km) is adjacent to and along strike from the the Inata Trend held by Goldbelt Resources who has reported a resource of more than 950,000 oz. gold in oxides. The Tondiata property is underlain by volcano-sediments and transected by northeast-southwest structures which are the locus of several artisanal gold mining sites. These structures define the Inata trend of mineralization. A regional soil sampling program (1000m x 500m) was completed on the Tondiata permit by BHP Minerals in 1995. The Company is conducting due diligence to acquire and verify this data. In the coming dry season Sanu plans to conduct infill geochemistry and trenching.

Tordo Permit

The 143 sq. km Tordo permit, in the Fada N'gourma greenstone belt east of Ouagadougou consists of meta-tuff, meta-sediment and mafic metavolcanic rocks. A dilational fault splay is focused near the contact of the greenstone belt and enclosing granites. A number of artisanal gold workings and lag quartz-float debris fields are associated with these structures. The area has never been explored and the Company plans soil sampling, trenching and mapping in the coming field season.

Qualified Person/Quality Analysis/Quality Control

Dr. Demetrius Pohl, a Qualified Person as defined by National Instrument 43-101 and Vice President of Exploration for the Company, has reviewed and verified the technical mining information contained in this news release. The Moule rock chip samples were analysed by fire assay with AAS finish in the BUMIGEB laboratories in Ouagadougou. The previous results reported at Lati are taken from UNDP and Burkina Faso government publications as well as from Carlin Resources and Incanore press releases and as such must not be considered as NI 43-101 compliant.

Profile

Sanu is a mineral exploration company focused on the acquisition, exploration and discovery of world-class gold and base metal deposits in Africa and is currently exploring in Eritrea, Burkina Faso and Morocco. The Company has 19.4 million shares outstanding and trades on the TSX Venture Exchange under the symbol SNU.

Forward-Looking Statement

Some statements in this release contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, expenditures, transactions and financings. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, risks related to actual results of exploration activities, the timing and amount of expenditures and the completion of transactions and financings.

The TSX Venture does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Sanu Resources Ltd.
    Michael Winn
    President
    (949) 494-6431
    or
    Sanu Resources Ltd.
    Kim Casswell
    Corporate Secretary
    (604) 688-2199
    www.sanuresources.com