Compass Gold: Geophysical Survey and Infilled Auger Drilling Initiated on Malian Permits
Compass Gold: Geophysical Survey and Infilled Auger Drilling Initiated on
Malian Permits
TORONTO, June 25, 2018 -- Compass Gold Corp. (TSX-V:CVB) (Compass or the Company) is pleased to provide an
update on exploration programs on the Ouassada and Sankarani exploration permits in Southern Mali.
Highlights
• Fieldwork on five induced polarization (IP) survey lines, totaling 18 kilometers, has started to cover the deep
auger soil sampling anomalies previously identified on the Ouassada permit
• A deep auger soil sampling program has been initiated over the Sodala shallow soil anomaly (2 km x 5 km)
on the Sankarani permit
• 7,521 shallow soil samples from priority areas at Kalé, Kourou, Tiélouléna, and infill areas at Sankarani are
at the assay laboratory
• Deep drilling targeting studies are ongoing, which will be finalized when the IP and auger drilling programs
are completed in July
Compass CEO, Larry Phillips, commented , “We are pushing to complete our exploration work on our Sikasso property area
prior to the rainy season. The deep soil auger drilling program at Sodala will aid our understanding of this exciting new gold
target and provide valuable information about the extent of the near surface mineralization. We will use the information
gathered from this near surface work as well as the current IP survey on Ouassada to help refine our initial bedrock targets,
which we plan to begin drilling in October. The drilling will help determine the nature, grade and extent of the gold
mineralization in the bedrock.
We are also eagerly anticipating the results from our shallow soil sample programs from Kalé, Kourou and Tiélouléna, as
these relatively underexplored permits contain numerous geophysical and structural targets identified from recent studies.”
Induced Polarization (IP) Survey
Based on the highly encouraging shallow soil and deep auger soil geochemical sampling programs over target area 1 on the
Ouassada permit (see Compass press releases dated April 3 and May 7, 2018 ), the Company is pleased to announce that an
Induced Polarization (IP) survey was started on June 11 th by Mali-based geoscience consultants EurekaGeo. This survey
consists of five (5) east-west trending lines that vary in length from 2 to 4.5 km and is centred on the 12.5 km long zone of
anomalous gold geochemistry (containing gold concentrations up to 2.6 ppm) and is underlain by 3.4 km of sporadic artisanal
gold workings at the southern extension of the anomaly. The purpose of the IP survey is to identify areas of enhanced
conductivity, which typically indicate the presence of disseminated sulphides or faults, both features that are important for the
formation of gold mineralization. The IP survey provides a useful indication of the depth of any target, and this information will
be utilized to determine the precise location and depth of the bedrock drilling program planned to begin in October 2018. The
location of the IP lines in relation to the geology and deep soil auger anomalism is illustrated in Figure 1 below.
Figure 1 is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/db8d3041-bcab-44e4-a9eb-fe15c5b05e10.
Sodala Anomaly Deep Soil Auger Drilling
A 97-hole deep soil auger drilling program was initiated at the Sodala anomaly on June 11 th (Figure 2). This program is being
undertaken by a private Mali-based drilling company, and consists of three lines, 1 km apart and at a sample spacing of 50 m,
to determine the depth continuity of an area of extreme gold in soil anomalism, where four samples contained 31.30, 10.10,
2.49 and 0.50 g/t gold over a distance of 1 km ( see Compass press releases dated June 1, 2018) . Weather permitting, an
additional east-west orientated deep soil auger line (Traverse 4, Figure 2) will be drilled in the centre of the Sodala shallow soil
infill-grid.
The purpose of this deep sampling program is to confirm the presence of gold to a depth of approximately 10 m at Sodala, and
remove the possibility that all of the shallow soil results are due to the presence of gold derived from the previously
undocumented gold workings in the area. Additional auger drilling will be performed in Q4 in the area, but if encouraging gold
grades are encountered during the present auger program at Sodala, then the bedrock drilling program could be accelerated.
Figure 2 is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6cb2c090-eafe-4446-a2a1-df90ae7b3fb9.
Shallow Soil Geochemistry
The Company is currently waiting on 5,343 shallow soil gold geochemistry sample results (including blanks and standard
reference materials) from priority areas in the Kalé, Kourou, and Tiélouléna permits, and an additional 2,178 samples from the
infill soil grids on Sankarani. The Sankarani target areas (Sodala, Selindian, Dalaba, and Tarabala) were identified from a
combination of wide spaced shallow soil geochemistry, and structural targets identified in the recently completed structural
and alteration remote sensing study ( see Compass press release dated May 29, 2018). The location of the Sodala in-fill
samples are illustrated on Figure 2.
The final shallow soil sampling program at Kourou, consisting of 1,200 samples over a grid with a 500-m line spacing and
samples collected every 100 m, started on June 19 th. It is anticipated that this work will be completed by the first week of
July, but this is contingent on the severity of the rains in the wet season.
Summary
Exploration work continues on the Ouassada, Sankarani, and Kourou permits, with the main focus being to accurately define
bedrock drilling targets on the two former permits in Q4. These targets will be investigated using a combination of Rotary Air
Blast (RAB) and Reverse Circulation (RC) drilling techniques. Shallow soil geochemical sample results at Kalé, Kourou, and
Tiélouléna are pending, and will be used to focus follow-up deep soil auger geochemistry once the rains have subsided.
About Compass Gold Corp.
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 at 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 further investigation in Dr. Archibald’s August 2017 “National Instrument 43-101 Technical Report on the
Sikasso Property, Southern Mali."
Qualified Person
This news release has been reviewed and approved by 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 Information
This 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:
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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