From: Biniam Tekle (biniamt@dehai.org)
Date: Tue Feb 03 2009 - 16:10:57 EST
*Sanu Resources Ltd.*
TSX VENTURE: SNU
<http://www.sanuresources.com/> Feb 03, 2009 16:00 ET
Sanu Announces Resource Estimate for Hambok Project, Eritrea
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 3, 2009) - Sanu Resources
Ltd. ("Sanu" or "the Company") (TSX VENTURE:SNU) is pleased to announce the
completion of an independent resource estimate on its Hambok
Volcanic-associated Massive Sulphide (VMS) Project located in western
Eritrea. The Hambok Project is located approximately 15 kilometers southwest
of the Bisha VMS deposit currently being developed by Nevsun Resources and
the Eritrean Government.
The estimate was prepared in accordance with the guidelines of NI 43-101 and
includes an indicated resource at a cut off grade of 0.75% zinc of 10.7
million tonnes grading 2.25% zinc, 0.98% copper, 6.84 g/t silver, 0.2 g/t
gold and an additional inferred resource at a cut off grade of 0.75% zinc of
17.0 million tonnes grading 1.74% zinc, 0.85% copper, 5.89 g/t silver and
0.19 g/t gold.
At a 2% zinc cut off grade there is a higher grade indicated resource
grading 5.1 million tonnes grading 3.24% zinc, 1.12% copper, 7.8 g/t silver,
0.2 g/t gold and an additional inferred resource of 5.1 million tonnes
grading 2.8% zinc, 0.96% copper, 6.2 g/t silver and 0.19 g/t gold.
The Hambok resource estimate was prepared by G.H. Giroux of Giroux
Consultants Ltd., a qualified person pursuant to NI 43-101 and will be
included in a new 43-101 report co-authored by Dr. Tucker Barrie which will
be released in February, 2009. A copy of the resource estimate and the
report will be available on Sedar and on the Company's website
www.sanuresources.com.
Indicated Resource within the Mineralized Shell
--------------------------------------------------------------------------
Tonnes Contain- Contain-
greater Grade greater ed Contain- ed
Cut- than than cutoff Zinc ed Copper
off Cutoff Zn Ag Cu Au (million Silver (million
Zn % (tonnes) % (g/t) % (g/t) lbs) ounces lbs)
--------------------------------------------------------------------------
--------------------------------------------------------------------------
0.75 10,700,000 2.25 6.84 0.98 0.2 530.8 2,581,341 231.2
--------------------------------------------------------------------------
0.80 10,500,000 2.29 6.92 0.99 0.201 530.1 2,562,718 229.2
--------------------------------------------------------------------------
0.85 10,200,000 2.32 6.96 0.99 0.202 521.7 2,503,888 222.6
--------------------------------------------------------------------------
0.90 10,000,000 2.36 7 1 0.202 520.3 2,468,900 220.5
--------------------------------------------------------------------------
0.95 9,800,000 2.39 7.07 1.01 0.203 516.4 2,443,717 218.2
--------------------------------------------------------------------------
1.00 9,500,000 2.42 7.14 1.02 0.204 506.8 2,392,364 213.6
--------------------------------------------------------------------------
1.10 9,100,000 2.49 7.22 1.04 0.205 499.5 2,317,310 208.6
--------------------------------------------------------------------------
1.20 8,500,000 2.58 7.29 1.05 0.206 483.5 2,185,506 196.8
--------------------------------------------------------------------------
1.30 8,200,000 2.64 7.37 1.06 0.207 477.3 2,131,507 191.6
--------------------------------------------------------------------------
1.40 7,700,000 2.72 7.43 1.08 0.208 461.7 2,017,832 183.3
--------------------------------------------------------------------------
1.50 7,300,000 2.79 7.5 1.09 0.209 449.0 1,931,033 175.4
--------------------------------------------------------------------------
1.60 6,800,000 2.88 7.49 1.1 0.209 431.8 1,796,372 164.9
--------------------------------------------------------------------------
1.70 6,300,000 2.97 7.6 1.11 0.21 412.5 1,688,728 154.2
--------------------------------------------------------------------------
1.80 5,900,000 3.05 7.64 1.12 0.21 396.7 1,589,831 145.7
--------------------------------------------------------------------------
1.90 5,500,000 3.14 7.73 1.12 0.211 380.7 1,499,504 135.8
--------------------------------------------------------------------------
2.00 5,100,000 3.24 7.81 1.12 0.212 364.3 1,404,839 125.9
--------------------------------------------------------------------------
Inferred Resource within the Mineralized Shell
--------------------------------------------------------------------------
Tonnes Contain- Contain-
greater Grade greater ed Contain- ed
Cut- than than cutoff Zinc ed Copper
off Cutoff Zn Ag Cu Au (million Silver (million
Zn % (tonnes) % (g/t) % (g/t) lbs) ounces lbs)
--------------------------------------------------------------------------
--------------------------------------------------------------------------
0.75 17,000,000 1.74 5.89 0.85 0.19 652.1 3,531,585 318.6
--------------------------------------------------------------------------
0.80 16,700,000 1.76 5.93 0.86 0.191 648.0 3,492,823 316.6
--------------------------------------------------------------------------
0.85 16,300,000 1.78 5.99 0.87 0.192 639.6 3,443,657 312.6
--------------------------------------------------------------------------
0.90 14,600,000 1.89 6.19 0.87 0.193 608.3 3,187,491 280.0
--------------------------------------------------------------------------
0.95 13,800,000 1.94 6.24 0.88 0.193 590.2 3,037,170 267.7
--------------------------------------------------------------------------
1.00 13,300,000 1.98 6.25 0.89 0.193 580.6 2,931,819 261.0
--------------------------------------------------------------------------
1.10 12,200,000 2.06 6.22 0.9 0.192 554.1 2,676,429 242.1
--------------------------------------------------------------------------
1.20 11,500,000 2.12 6.18 0.9 0.191 537.5 2,506,639 228.2
--------------------------------------------------------------------------
1.30 10,700,000 2.18 6.19 0.91 0.19 514.2 2,336,038 214.7
--------------------------------------------------------------------------
1.40 9,300,000 2.31 6.16 0.91 0.189 473.6 2,020,548 186.6
--------------------------------------------------------------------------
1.50 8,500,000 2.39 6.15 0.92 0.188 447.9 1,843,739 172.4
--------------------------------------------------------------------------
1.60 7,800,000 2.46 6.14 0.94 0.188 423.0 1,689,151 161.6
--------------------------------------------------------------------------
1.70 7,200,000 2.53 6.09 0.95 0.187 401.6 1,546,519 150.8
--------------------------------------------------------------------------
1.80 6,600,000 2.61 6.12 0.97 0.187 379.8 1,424,626 141.1
--------------------------------------------------------------------------
1.90 5,600,000 2.74 6.17 0.95 0.186 338.3 1,218,649 117.3
--------------------------------------------------------------------------
2.00 5,100,000 2.81 6.2 0.96 0.186 315.9 1,115,237 107.9
--------------------------------------------------------------------------
The Hambok resource estimate was based on 57 diamond drill holes completed
in 2006 and assayed for copper, zinc, silver, and gold. The drill holes
define a massive sulphide body with a simple geometry, consisting of several
stacked lenses that dip 60 to 70 degrees to the east and extend
approximately 1000m along strike with a depth extent of over 400m. A
geologic three dimensional model was developed to outline the massive
sulfide lenses. Drill holes were compared to this volume and individual
assays were tagged as mineralized or waste if inside or outside this volume
respectively. The grade distribution for each variable in each domain was
evaluated and capping levels determined. Uniform down hole 2.5m composites
were formed that honoured the solid boundaries within the mineralized
sulfide. Variography was used to determine the grade continuity along strike
and down dip within the massive sulfide solid. Grades were interpolated
using ordinary kriging into blocks with dimensions 5m E-W, 20m N-S and 10m
vertical. Estimated blocks were then classified as Indicated or Inferred
based on grade continuity.
The Company is pleased with the results of this resource estimate which
confirms that Hambok is a significant base metal deposit and further
confirms the Company's view that the emerging VMS belt in western Eritrea is
one of the most prospective in the world. The development of the Bisha Mine
and processing facilities located only 15 kilometers from Hambok will
improve regional infrastructure and enhance the value of the Hambok Deposit
and the Company's adjacent exploration ground.
The drill programs and sampling were supervised by Dr. Demetrius Pohl, Vice
President of Exploration for Sanu who is a qualified person under NI 43-101.
Standards and duplicate samples were inserted into the sequence of analyzed
samples. The drill samples were prepared at Horn of Africa Labs in Asmara,
Eritrea and after multiple acid digestion, analyzed by ICP-OES for base
metals and fire assay/atomic absorption for gold at Genalysis Labs in Perth
Australia.
On Behalf of the Board
Wojtek A. Wodzicki, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
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