Compass GOLD: Geochemical Survey Identifies Four Additional Strong Shallow GOLD Anomalies
COMPASS GOLD: GEOCHEMICAL SURVEY IDENTIFIES FOUR
ADDITIONAL STRONG SHALLOW GOLD ANOMALIES
Toronto, Ontario, April 3, 2018 – Compass Gold Corp. (TSX-V:CVB) (Compass or the Company)
is pleased to provide an update on the previously announced ( see Compass news release
dated Feb. 28, 2018) ongoing shallow soil geochemical survey program at the Ouassada
exploration permit on its Sikasso Property in Southern Mali.
Highlights
● Four additional parallel, northwest -trending gold anomalies have now been identified
over strike lengths up to 12 km and widths up to 2 km (see Figure below) , bringing the
total to nine.
● Highest soil samples contain 3 ,800 parts per billion (ppb) g old (Au) ( 3.8 grams per
tonne (g/t) Au) 550 m north of artisanal workings at Farabakoura. Highest gold
concentrations are not restricted to areas of known workings.
● In this latest round of work, a total of 1 ,139 shallow soil samples were collected on the
Ouassada permit where the average gold background for shallow soil samples was 5 ppb.
● Deep soil auger sampling at Ouassada is now 90% complete, and the shallow soil sampling
is currently taking place on the Sankarani permit with 88% of the samples collected.
● High-resolution Airborne geophysical interpretation, and structural and hyperspectral
remote sensing (satellite) studies have been initiated.
Compass CEO, Larry Phillips, commented , “As we continue to receive shallow soil results from
the assay lab it is gratifying to see that additional zones of gold anomalism have been identified
on the Ouassada permit. We have delineated at least nine zones, with the potential to identify
addition zones as we complete our infill sampling between our primary target areas. Soil auger
sampling has been completed at Ouassada, and the field teams are now moving to Sankarani.
We eagerly anticipate the assay results of this deeper sampling , and hope they correlate with
the shallow soil anomalies.”
Subsequent to the Company’s progress report of February 28, 2018, the Company is pleased to
report the results of 1,139 additional shallow soil samples, collected over two broad zones
within the Ouassada permit (target areas 2 and 3). Target area 1 contained 1,175 sample points.
The targets were identified by interpreting airborne geophysical data, the presence of an
extensive zone of artisanal mining (containing bedrock , vein-hosted, gold mineralization ) and
the similarity of the geological and structural setting to the Yanfolila gold mine, located 40 km
along strike to the southwest (see Figure below).
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Figure: Location of the anomalous gold zones (dashed outlines) as identified by shallow soil
geochemistry. Four additional zones are identified in Target areas 1 and 2.
Detailed Shallow Soil Results
The latest 1,139 shallow samples were collected from a depth of approximately 0.4 m over the
permit on an east -west grid with a line spacing of 500 m and a sample spacing of 100 m. The
samples were analyzed by fire assay analysis at the international recognized geochemical
laboratory of ALS (Ouagadougou, Burkina Faso). Simple statistical analyses were performed on
the combined data on target areas 1, 2 and 3 (and the area between target 1 and 2) , to
determine the degree of sample anomalism. Background values were considered to be 5 ppb
Au or less (n umber (n) = 1664), weakly anomalous (5 - 11 ppb Au, n = 444), moderately
anomalous (11 - 17 ppb Au, n = 107), strongly anomalous (1 7 - 77 ppb, n = 86), and extremely
anomalous (> 3 standard deviations from the mean, 77 - 3800 ppb Au, n = 12 ). The results are
illustrated in the figure above.
The previously reported results, from 1,175 shallow soil samples in target area 1, identified a 12-
km long continuous anomaly extending from the artisanal gold workings at Kabangouè, through
the largest concentration of workings at Farabrakoura, and extends for an additional 9 km to the
north-northwest. A second sporadic anomaly with the same trend occurs 1 km to the west, and
is present for a strike length of 6 .5 km. The latest results extended the length of the 6.5 km
anomaly in the centre of the licence by 2 km, but also identified four additional anomalous
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zones, which all trend towards the northwest, and vary in length from a contin uous 5 km in the
eastern part of the permit to two shorter (2 km -long) anomalies in the west of the permit. The
new linear anomalies in targets 2 and 3 are apparently narrower (one -point anomalies) when
compared to the anomalies present in target area 1 (up to 2 km in width). These surface widths
are not unusual in prospective gold areas in Mali covered by laterites.
Soil Auger Sampling
Based on these initial shallow soil results, the Company is eagerly awaiting the results of the
recently completed 2,024 holes (27,970 m) truck-mounted power auger soil samples collected
within the Ouassada permit. The results of this program will be reported as soon as the assays
are received from the laboratory . The results will be used to determine the location of drill
holes to test the presence of bedrock mineralization.
The surface geochemistry teams have c ompleted work over target areas 2 and 3, and are now
moving on to the adjacent Sankarani permit. Samples collected in both of these areas have
been dispatched to the assay laboratory.
Sankarani Sampling
To date, a total of 1 ,707 samples have been collected on Sankarani, from a planned total of
1,931. The sampling program is expected to be completed on April 6 th, with gold assay results
reported by the end of April. Soil auger drilling will start in early May, and the sampling
locations will be dependent on the shallow results.
Regional Studies
Two studies have been commissioned by Compass utilizing previously collected data. The first
study is a reinterpretation of the high -resolution airborne geophysics collected by the
Company in 201 1. This st udy is currently being undertaken by Jeremy Brett, PGeo, p rincipal
consultant geophysicist at MPH Consulting, Toronto . The second study is a structural and
hyperspectral remote sensing (satellite) study, which will be undertaken by Dr. Francis Murphy,
PGeo, Murphy Geosciences, Ireland. This latter study is scheduled to begin in mid-April
Summary
Shallow soil geochemistry assays have now been received on target zones 1, 2 and 3 on the
Ouassada permit. The nine linear gold shallow soil anomalies correlated with structures present
in the airborne magnetic data, and are highly encouraging . The Company looks forward to the
infill shallow soil assays, and the result of the soil auger study. When all the geochemistr y
results are compiled and analyzed they will form the basis of identifying bedrock drilling targets .
This deeper drilling program is expected to be implemented in late Q2.
The work program is progressing on time and within budget.
About Compass Gold Corp.
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Compass, a public company having been incorporated into Ontario, is a Tier 2 issuer on the
TSX-V. Through the recent 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
1,179 km2. The Sikasso Property is located in the same region as several other multi -million
ounce gold projects, including Morila, Syama, Kalana and Kodieran. The Company’s Mali-based
technical team, led in the field by Dr. Diallo and under the supervision of Dr. Sandy Archibald,
P.Geo, is initiating a new exploration program. They are examining the first of numerous
anomalies noted for furthe r investigation in Dr. Archibald’s August 2017 “National Instrument
43-101 Technical Report on the Sikasso Property, Southern Mali.
Qualified Person
The technical information in this news release has been reviewed and approved by Dr. Sandy
Archibald, P.Ge o, 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 Information
This news release contains "forward‐looking information" within the me aning 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 di ffer 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:
Compass Gold Corporation Compass Gold Corporation
Larry Phillips – Pres. & CEO Greg Taylor – Dir. Investor Relations &
Corporate Communications
[email protected] [email protected]
T: +1 416-596-0996 X 302 T: +1 416-596-0996 X 301
Website: www.compassgoldcorp.com
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