Compass Gold Corp. (TSX-V: CVB) (Compass or
the Company) reports the results of the latest
drilling at the Massala West, Massala Main, Orange Grove, Assama
and Sodala prospects, located on the Company’s Sikasso Property in
Southern Mali (
Figure 2).
Highlights
-
Wide-spaced drilling at Massala West confirms gold
mineralization along a new 1.6 km section of the
Tarabala Fault
-
Highest-grade drill interval was 2 m @ 13.06 g/t Au (from
16 m; SAAC204)
- Widest
mineralized zone was 21 m @ 0.86 g/t Au (from 1 m;
SAAC189)
-
Preparations are underway for an additional 1,600 m of air
core drilling over a distance of 1.4 km to the north of the new
zone, and 1,200 m of infill drilling on the recently discovered
mineralization
- 1,400 m
of air core (AC) drilling is also planned at the new Tarabala South
target
- Drilling
at Sodala intercepted intermittent shallow gold mineralization,
associated with a north-south trending shear zone and strong
shallow gold in soil anomalies
-
Highest-grade drill interval: 1 m @ 4.57 g/t Au
(from 21 m).
- Drilling
at the Massala Main, Orange Grove, and Assama artisanal workings
did not intercept significant mineralization
- Results
are pending from the Dialéké and Old Sam prospects
Compass CEO, Larry Phillips,
said, “These latest results of our systematic ongoing evaluation of
our extensive ground package have revealed yet another promising
large, shallow gold target. Drilling at our Massala West prospect
has confirmed the continuation of gold mineralization over a
distance of 4.2 km, and the structure remains open at either end.
We are preparing drill pads to test the strike extension of the
structure, and to test the continuity with infill drilling on the
best mineralized zones. This 82-hole drilling program should be
completed, and the results returned, before the rainy season is
heaviest in July.”
He added, “Drilling at the nearby Sodala
prospect has also confirmed the presence of gold and we will
conduct follow-up work later looking for wider, higher grade zones
of mineralization there as well. Meanwhile, in addition to the
follow-up drilling at Massala West, we are eagerly awaiting the
assay results from 70-holes drilled on two promising new targets on
the Kourou and Faraba-Coura permits.”
Massala West Drilling
Results
Following up on the previously reported results
from Massala West (see Compass news release dated March 16, 2021),
Compass has completed thirty-two (32) additional shallow air core
(AC) holes (1,914 m) at this prospect (Figure 1) to test for the
presence of gold mineralization associated with the Tarabala fault
over a distance of 1.8 km. This drilling included nine fences
spaced at 200 m intervals, with significant gold intercepts
present on six of the fences. The widest mineralized interval was
encountered in SAAC189, with 21 m @ 0.86 g/t Au
(from 1 m) including 6 m @ 1.67 g/t Au (from
1 m), 4 m @ 1.14 g/t Au (from 10 m) and 4
m @ 0.74 g/t Au (from 18 m). This hole was located
225 m south of the discovery hole SAAC123, which contained
24 m @ 2.35 g/t Au. The highest-grade
interval was located in SAAC204, 1.3 km to the south of the
discovery hole (SAAC123), and contained 2 m @ 13.06 g/t
Au (from 16 m). Each four-hole fence contained at least
one mineralized hole that comprised several mineralized intervals.
The intervals varied from 1 to 6 m, with individual intervals
varying from 0.20 to 22.6 g/t Au (Table 1).
Figure 1: Drilling locations and
significant results from recent
drilling.https://www.globenewswire.com/NewsRoom/AttachmentNg/416a4254-2bb5-4aa6-837d-7e272ae778e8
Based on the highly encouraging initial AC
drilling results at Massala West, Compass will drill 22 more holes
in several 200 m spaced fences, over a distance of 1.6 km to
the north along the target structure to test its strike potential.
An additional 22-holes (1,100 m) will be drilled as infill around
the holes reported in this release.
Table 1. Mineralized intervals
greater than 3 m or greater than 0.5 g/t Au identified during
recent drilling at Massala West
Hole ID |
From (m) |
To (m) |
1, 2 Interval(m) |
Au (g/t) |
SAAC180 |
20 |
21 |
1 |
0.54 |
SAAC181 |
33 |
34 |
1 |
2.02 |
SAAC184 |
6 |
7 |
1 |
3.85 |
SAAC184 |
8 |
9 |
1 |
0.76 |
SAAC184 |
32 |
33 |
3 |
0.27 |
SAAC185 |
22 |
26 |
4 |
0.45 |
SAAC186 |
6 |
10 |
4 |
0.27 |
SAAC187 |
3 |
6 |
3 |
0.46 |
SAAC189 |
1 |
22 |
21 |
0.86 |
inc. |
1 |
7 |
6 |
1.67 |
inc. |
5 |
6 |
1 |
7.85 |
inc. |
10 |
14 |
4 |
1.14 |
inc. |
18 |
22 |
4 |
0.74 |
SAAC189 |
57 |
59 |
2 |
1.56 |
inc. |
57 |
58 |
1 |
2.81 |
SAAC192 |
32 |
35 |
3 |
0.45 |
SAAC194 |
20 |
21 |
1 |
0.54 |
SAAC197 |
8 |
13 |
5 |
0.66 |
SAAC197 |
37 |
38 |
1 |
0.70 |
SAAC197 |
47 |
48 |
1 |
0.51 |
SAAC197 |
49 |
50 |
1 |
0.69 |
SAAC198 |
31 |
33 |
2 |
1.61 |
SAAC198 |
53 |
54 |
1 |
1.81 |
SAAC199 |
13 |
14 |
1 |
1.05 |
SAAC199 |
28 |
31 |
3 |
0.30 |
SAAC200 |
8 |
9 |
1 |
0.51 |
SAAC200 |
42 |
44 |
2 |
1.46 |
SAAC201 |
22 |
23 |
1 |
2.40 |
SAAC201 |
36 |
37 |
2 |
0.53 |
SAAC204 |
16 |
18 |
2 |
13.06 |
inc. |
16 |
17 |
1 |
22.6 |
1True thicknesses are interpreted as 60-90% of
stated intervals.2 Intervals use a 0.2-gram-per-tonne gold cut-off
value
Next Steps
Based on the positive AC drilling results at
Massala West, and interpretation of recent Gradient Induced
Polarization (IP) geophysics, a total of 82 AC holes (totalling
4,100 m) are planned for the Tarabala Trend (Figure 2). These
include 54 holes (2,700 m) on the Tarabala fault at Massala West,
and 28 holes (1,400 m) at a new target located immediately south of
the Tarabala prospect (Figure 2). Drilling pad preparation is
underway, and it is anticipated that drilling will be completed
prior to the heaviest part of the rainy season.
In addition to the AC drilling, sites have also
been selected for deeper reverse circulation (RC) drilling at
Tarabala (2,500 m), and tentatively selected at Massala West (2,500
m). Several diamond core holes (500 m) are also proposed at
Tarabala and Massala West. The purpose of this drilling will be to
test the down dip extension and continuity of mineralization to
depths up to 120 m from surface. Preparation of the drilling pads
will take place in June, and will allow drilling during the rainy
season.
Assay results are pending from 1,412 m of AC
drilling at the Dialéké prospect (Faraba-Coura permit), and
889 m of drilling at the Old Sam prospect (Kourou permit).
Ongoing in-fill shallow soil sampling and ground geophysics are
continuing on other parts of the Sikasso property, and Compass’s
technical team is continually appraising and identifying new
targets.
Figure 2: Property
map showing the location of prospects mentioned in this
release.https://www.globenewswire.com/NewsRoom/AttachmentNg/5b8efa25-6d21-4567-81d6-b1ae22b20d60
Additional results:
Massala Main and Orange Grove Drilling
Results
Ten shallow AC holes (1,084 m) were drilled at
Massala Main (Figure 1) to test a small area of north-south
trending artisanal gold workings. Only one hole (SAAC173)
intercepted gold mineralization, 3 m @ 0.92 g/t Au (from 24 m),
including 1 m @ 2.01 g/t Au (from 24). The mineralization occurs on
the interpreted Massala fault, and correlates with a mineralized
zone (3 m @ 1.90 g/t Au) previously identified by drilling 1.5
km to the south at the Massala East prospect. No additional work is
planned at the Massala Main prospect.
A total of 8 holes (480 m) were drilled on two
200-m spaced fences at the Orange Grove prospect. The prospect is
3.6 km south of the Massala Main prospect on the Massala fault, and
is located 1 km east of the Tarabala fault (Figure 1). The
target was chosen based on interpretation of ground geophysics and
the presence of a shallow soil sample containing 5 g/t Au. Only one
hole (SAAC212) intercepted mineralization (1 m @ 0.46 g/t Au).
Additional drilling might be required in the future to identify the
source of gold indicated from the anomalous soil sample.
Assama Drilling Results
Twenty-four shallow air core (AC) holes (1,236
m) were drilled at Assama (Figure 2) to test a 250 m by 120 m area
of surface gold excavations at the southernmost part of the
Tarabala Trend. A 13-hole fence was drilled over the artisanal
workings and a second 11-hole fence 200 m to the north. These holes
were also designed to target two of six NNE-trending faults,
understood to be part of the Tarabala shear zone as interpreted
from Gradient IP geophysics. Drilling identified the quartz veining
associated with the projected fault structures, with only trace
amounts of gold mineralization (<0.22 g/t Au). Select
geochemical tests (cyanide leach) are being performed on the
drilling samples from the Tarabala Trend to determine the total
gold concentration of samples.
Sodala Drilling Results
Twenty shallow AC holes (1,084 m) were drilled
at Sodala (Figure 1) to test an area 350 m east of the currently
active shallow gold workings. Two 10-hole NW-trending fences were
drilled within a 500 m by 500 m area marked by extremely anomalous
shallow soil samples (e.g., 31.3, 10.1, 2.5, 1.29 g/t Au).
Geological mapping and interpretation of Gradient IP geophysics
identified several north- and northeast-trending faults on each
fence that were coincident with the soil anomalism.
The drilling results confirmed that the N- and
NE-trending faults likely control mineralization as the highest
gold intercepts were recorded at the predicted locations. The best
intercepts were 1 m @ 4.57 g/t Au (from 21 m, SEAC009)
and 1 m @ 1.45 g/t Au (from 17 m, SEAC014), both
associated with N-trend faults. Most of the mineralized intervals
were less than 2 m and less than 0.5 g/t Au. It is likely that
weathering of the narrow, high-grade mineralization is responsible
for the exceptionally high-grade shallow soil samples documented
from the area. Follow-up work is recommended on the gold-bearing
structures to determine if wider zones of mineralization are
present along strike or down dip.
Technical Details
Air core holes from Massala West, Massala Main,
Orange Grove, Assama reported here were drilled on an azimuth of
270° (towards the west), at dips of 55°, with the exception of two
holes at Massala West, which were drilled at 090° (towards the
east). AC holes from Sodala were drilled on an azimuth
of 315° (towards the NW). Hole lengths at both prospects varied
from 50 to 60 m. The drill fences were designed to test structures
interpreted from Gradient IP surveying, and potential mineralized
trends identified by Compass’s earlier fieldwork. Drilling was
performed by Etasi and Co. Drilling (Mali). All samples were
prepared by Compass staff and an appropriate number of standards,
duplicates and blanks were submitted and analysed for gold at SGS
(Bamako, Mali) by fire assay.
About Compass Gold
Corp.
Compass, a public company having been
incorporated into Ontario, is a Tier 2 issuer on the TSX- V.
Through the 2017 acquisition of MGE and Malian subsidiaries,
Compass holds gold exploration permits located in Mali that
comprise the Sikasso Property. The exploration permits are located
in three sites in southern Mali with a combined land holding of 867
sq. km. The Sikasso Property is located in the same region as
several multi-million-ounce gold projects, including Morila, Syama,
Kalana and Komana. The Company’s Mali-based technical team, led in
the field by Dr. Madani Diallo and under the supervision of Dr.
Sandy Archibald, P.Geo, is conducting the current exploration
program. They are examining numerous anomalies first noted in Dr.
Archibald’s August 2017 “National Instrument 43-101 Technical
Report on the Sikasso Property, Southern Mali.”
QAQC
All AC samples were collected following industry
best practices, and an appropriate number and type of certified
reference materials (standards), blanks and duplicates were
inserted to ensure an effective QAQC program was carried out. The 1
m interval samples were prepared and analyzed at SGS SARL (Bamako,
Mali) by fire assay technique FAE505. All standard and blank
results were reviewed to ensure no failures were detected.
Qualified Person
This news release has been reviewed and approved
by EurGeol. Dr. Sandy Archibald, P.Geo, Compass’s Technical
Director, who is the Qualified Person for the technical information
in this news release under National Instrument 43-101
standards.
Forward‐Looking InformationThis
news release contains "forward‐looking information" within the
meaning of applicable securities laws, including statements
regarding the Company’s planned exploration work and management
appointments. Readers are cautioned not to place undue reliance on
forward‐looking information. Actual results and developments may
differ materially from those contemplated by such information. The
statements in this news release are made as of the date hereof. The
Company undertakes no obligation to update forward‐looking
information except as required by applicable law.
For further information please contact:
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Compass Gold Corporation |
Compass Gold Corporation |
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Larry Phillips – Pres. & CEO |
Greg Taylor – Dir. Investor Relations & Corporate
Communications |
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lphillips@compassgoldcorp.com |
gtaylor@compassgoldcorp.com |
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T: +1 416-596-0996 X 302 |
T: +1 416-596-0996 X 301 |
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Website: www.compassgoldcorp.com
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THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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