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
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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)
--------------------------------------------------------------------------
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0.75 10,700,000 2.25 6.84 0.98 0.2 530.8 2,581,341 231.2
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0.80 10,500,000 2.29 6.92 0.99 0.201 530.1 2,562,718 229.2
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0.85 10,200,000 2.32 6.96 0.99 0.202 521.7 2,503,888 222.6
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0.90 10,000,000 2.36 7 1 0.202 520.3 2,468,900 220.5
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0.95 9,800,000 2.39 7.07 1.01 0.203 516.4 2,443,717 218.2
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1.00 9,500,000 2.42 7.14 1.02 0.204 506.8 2,392,364 213.6
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1.10 9,100,000 2.49 7.22 1.04 0.205 499.5 2,317,310 208.6
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1.20 8,500,000 2.58 7.29 1.05 0.206 483.5 2,185,506 196.8
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1.30 8,200,000 2.64 7.37 1.06 0.207 477.3 2,131,507 191.6
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1.40 7,700,000 2.72 7.43 1.08 0.208 461.7 2,017,832 183.3
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1.50 7,300,000 2.79 7.5 1.09 0.209 449.0 1,931,033 175.4
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1.60 6,800,000 2.88 7.49 1.1 0.209 431.8 1,796,372 164.9
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1.70 6,300,000 2.97 7.6 1.11 0.21 412.5 1,688,728 154.2
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1.80 5,900,000 3.05 7.64 1.12 0.21 396.7 1,589,831 145.7
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1.90 5,500,000 3.14 7.73 1.12 0.211 380.7 1,499,504 135.8
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2.00 5,100,000 3.24 7.81 1.12 0.212 364.3 1,404,839 125.9
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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
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0.80 16,700,000 1.76 5.93 0.86 0.191 648.0 3,492,823 316.6
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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
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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
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1.60 7,800,000 2.46 6.14 0.94 0.188 423.0 1,689,151 161.6
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1.70 7,200,000 2.53 6.09 0.95 0.187 401.6 1,546,519 150.8
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1.80 6,600,000 2.61 6.12 0.97 0.187 379.8 1,424,626 141.1
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1.90 5,600,000 2.74 6.17 0.95 0.186 338.3 1,218,649 117.3
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2.00 5,100,000 2.81 6.2 0.96 0.186 315.9 1,115,237 107.9
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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
Sanu Resources Ltd Com Npv (TSXV:SNU)
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