Resource Estimate

The Hambok resource estimate was prepared by G.H. Giroux of Giroux Consultants Ltd., a qualified person pursuant to NI 43-101 and included in a 43-101 report dated January 23, 2009 co-authored by Dr. Tucker Barrie. Please click here to view entire report.


The Hambok resource estimate was based on 57 diamond drill holes completed in 2006 and assayed for Au, Ag, Cu and Zn. 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 that extends approximately 1000m along strike and has 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 2.5 m 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 5 m E-W, 20 m N-S and 10 m vertical. Estimated blocks were then classified as Indicated or Inferred based on grade continuity.

The drill programs and sampling were supervised by Dr. Demetrius Pohl, Vice President of Exploration for Sanu Resources 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.

Donnelly & North Donnelly Zones Measured and Indicated Resources 2008

In September 2008 the Company completed an updated independent resource estimate on the Donnelly and North Donnelly zones at its GJ/Kinaskan gold-rich porphyry copper deposit in northern British Columbia.

The Donnelly and North Donnelly resource estimate is based on assay results from 169 diamond drill holes over a strike length of 1.6 kilometres. The measured and indicated resource, at a cut-off of 0.20% copper, is 153.3 million tonnes grading 0.321% copper and 0.369 g/t gold and contains 1.09 billion pounds of copper and 1.82 million ounces of gold.

Main and North Donnelly Measured & Indicated Resource

Main Donnelly Measured Resource

Main and North Donnelly Indicated Resource

Main and North Donnelly Inferred Resource

This updated resource estimate was commissioned following the 2007 drill program, which successfully allowed a substantial portion of the 2007 indicated resource category to be upgraded to the measured category.

The 2008 measured and indicated resource, at a cut-off grade of 0.20% copper, represents an approximate 25% increase in tonnage, 27% increase in contained copper and 31% increase in contained gold over the 2007 measured and indicated resource.

The Donnelly Zone has been drilled to date to an average depth of about 300 metres on about 50-metre centres. It is 1600 metres in strike length and up to 340 metres wide.

Upcoming plans include a Preliminary Economic Assessment. This study will focus initial open-pit mining on the high-grade, near-surface eastern portion of the Donnelly Zone. The higher-grade material in this area averages in excess of 0.4% copper and 0.4 g/t gold.

"This new resource estimate includes substantial additional near-surface, higher-grade material that would be immediately accessible for mining," stated Rick Bailes, president of Canadian Gold Hunter. "In addition, we are very encouraged that Premier Gordon Campbell announced recently that the Province of British Columbia will start immediately the environmental assessment process and First Nations consultation on the Northwest Transmission Line along Highway 37. This power line would have a positive impact on the economics of the GJ project, which is easily accessible from Highway 37."

The Main and North Donnelly Zone resource estimate was prepared by qualified person Mr. Gary Giroux. P.Eng. using a computer-generated block model based on approximately 42,000 metres of diamond drilling in 169 drill holes. A total of 9,883 assayed samples were used to define the resource.

The drill programs and sampling were supervised by qualified person David Mehner, P.Geo., Project Geologist for Canadian Gold Hunter. Appropriate quality control and quality assurance protocols were utilized on the program. Standard reference samples, blanks and duplicates were inserted in each batch of samples for assay. The Canadian Gold Hunter drill samples were analyzed for gold by fire assay / atomic absorption and for copper by ICP, and by atomic absorption for those samples over 1%, by ALS-Chemex in North Vancouver, B. C., Canada. All assay results were examined by independent engineer Dr. Giles Peatfield, P.Eng. prior to release, in order to verify that QC protocols were honoured.

An updated, independent resource estimate in December, 2007 on the Josemaria porphyry copper-gold deposit located in San Juan Province, Argentina. The updated inferred resource estimate, in accordance with NI 43-101, is 460Mt @ 0.39% Cu and 0.30g/t Au at a 0.3% TCu cut-off which represents a 20% increase in contained copper and an approximate 30% increase in contained gold. A review of the drilling conducted to date indicates that the deposit remains open to the northwest where some of the best drill intersections have been realized to date.

The updated independent resource estimate has been prepared for the Josemaria project by John Nilsson, P.Eng. of Nilsson Mine Services Ltd., and Mario Rossi, M.Sc. of Geosystems International, Inc.

Josemaria Inferred Resources



The drill hole database used to estimate the updated resources at Josemaria consists of a total of 21,616.75 metres with 47 inclined reverse circulation (RC) surface drill holes plus 7 diamond drill holes (DDH). Compared to the previous resource model results, the number of samples has increased by approximately 50%. The Josemaria resource block model was defined as a single-size block model that encompasses the area of interest. The block size chosen was 25 x 25 x 15m, intended to reflect drill hole spacing available and generally accepted practices used to model large, Cu-Au porphyry deposits. Grades were estimated using ordinary kriging.

The Company's exploration programs were carried out under the direction and management of J. Patricio Jones (PhD). Dr. Jones and his team discovered the worldclass Veladero gold deposit in Argentina and was responsible for the initial development of the Bajo de Alumbrera copper-gold project. The technical contents of this release have been reviewed and verified by Mr. Paul K. Conibear, P.Eng., Director, who is an appropriately qualified person as defined by National Instrument 43-101. Mr. Mario Rossi, M.Sc. of Geosystems International, Inc. has been retained as the independent consultant responsible for the geologic modeling, geo-statistics, and calculation of the updated resource estimate for the Josemaria property. Samples are sent to ALS Chemex labs in Mendoza Argentina and Santiago, Chile, for analysis using conventional ICP methods with multi-acid digestion. A 50 gram fire assay with AA (atomic absorption) finish is run on all samples for gold. A series of blanks are routinely introduced with each batch of samples. Quality controls include preparation and analysis statistics performed to industry standards.