Compass Gold: New Artisanal Gold Workings Identified on Yanfolia South Block
Compass Gold: New Artisanal Gold Workings Identified on Yanfolia South Block
TORONTO, March 19, 2019 (GLOBE NEWSWIRE) -- Compass Gold Corp. (TSX-V:
CVB) (Compass or the Company) is pleased to provide an update on the progress of
prospecting conducted on four exploration permits comprising the newly created
Yanfolila South block on its Sikasso Property in Southern Mali.
Highlights
Fourteen artisanal workings were identified on the Yanfolila South block
permits
Four workings are coincident with targets previously identified from
shallow soil geochemistry and remote sensing studies
Field teams have been dispatched to systematically collect material from
the workings to help define an expedited bedrock drilling program
Also, initial orientation induced polarization (IP) geophysics survey has
been completed at Farabakoura; awaiting review by our consultant
geophysicist
Compass CEO, Larry Phillips, observed, “We are continuing to find new evidence of
the prospectivity of our large and relatively underexplored Sikasso permit area. Most recently, our prospecting team has identified fourteen
artisanal gold workings at our Yanfolila South block, including some in which, using heavy excavation equipment, artisanal miners have
reportedly recovered up to 20 kilograms of gold in recent months. We are now conducting a geochemical sampling program at the most
prospective of these sites with the intention of identifying our newest drilling targets to locate the bedrock source of gold mineralization
during the next phase of our robust exploration program.”
Technical Director, Dr. Sandy Archibald, added, “The discovery of new artisanal workings on the Yanfolila South block is welcome, as it
vindicates our initial view on the mineral potential of this block. However, our immediate focus remains on our northern permits* where we
have identified wide zones of bedrock gold mineralization through drilling at Farabakoura. An extensive IP survey is about to begin, which we
hope will identify additional drilling targets.”
(*See Figure 1 insert.)
Yanfolila South Block – Background:
In October 2018, the Company announced its technical team had identified twelve shallow-soil gold anomalies coincident with crustal faults
on the former Kourou permit (Compass news release dated October 9, 2018). Following the Company’s permit renewal (Compass news
release dated February 20, 2019), that Kourou permit was separated into three smaller permits, namely, Kourou, Badogo, and Lontola,
while the former Tiélouléna permit was reduced in size, with parts of it now making up this new Lontola permit (Figure 1). Collectively these
four permits comprise the Yanfolila South block.
Yanfolila South – Prospecting
From late January to mid-February, a field team conducted a block-wide field study, covering 400 square kilometres (sq. km) to determine
the location of artisanal gold workings not previously identified in published government files. At the same time, the team collected grab
samples of near surface material (laterite soil, waste heap samples) and outcrops. The samples were sent to the SGS Bamako laboratory
for gold assaying and, following industry best practice, utilizing appropriate standards and blanks.
Figure 1 accompanying this announcement is available at: http://www.globenewswire.com/NewsRoom/AttachmentNg/8767caae-905f-
4640-9f90-52c32b809a42
Five artisanal workings were identified on the Badogo permit (see Table 1 below ), four at Kourou, three at Tiélouléna, and two at Lontola.
None of these workings were noted in the government database (SYSMIN, 2006), although the Company was aware of the Samagouela
workings at Kourou.
The majority (8) of the workings are eluvial in nature, where the gold mineralization is present in the soil or lateralized (weathered) bedrock.
Artisanal groups at five of the workings are recovering gold from the bedrock and eluvium, and one area is an alluvial (river) operation,
where gold is recovered from the local stream. The workings range in age from the early 20th Century to 2018, with many workings being
reactivated within the last decade.
The largest working in terms of area is at Sanoutafougani, where it covers 6 hectares (600 m x 100 m) and artisanal miners report the
recovery of 10 kg (320 oz) of gold (Au) since the early 1960s. Nuggets of up to 60 g (2 ounces) have been reported from this working. Three
grab samples were collected from spoil heaps at an area noted for coarse gold nuggets, with the highest assay being 12 parts per billion
(ppb) Au. This observation confirms the coarse nature of the mineralization.
The newest working is Samagouela, where, in a three-month period in 2018, artisanal miners using heavy plant equipment are reported to
have recovered 20 kg (645 oz) of gold from excavations up to 22.5 m in depth. Several thousand artisanal miners were active at the site in
2018, but it is now largely abandoned due to the farming season. Four grab samples were collected from the workings, with the highest
Figure 1
Location of recently documented artisanal gold
works on the Yanfolila South block (yellow stars).
grade recorded from material from a mechanically excavated hole showing 0.82 grams per tonne (g/t) Au.
Table 1. Summary of artisanal workings identified on Yanfolila South block
1 These are the gold concentrations of the closest shallow soil samples collected by Compass Gold in June 2018.
2, 3 Information collected from local artisanal miners. The Company was unable to verify the information, but believes it is relevant.
The workings at Sokofèle Kra Kra, which cover an area of 400 m by 50 m, are also noted for the coarse gold present, with nuggets reported
up to 18 g since mining began in 2014. During the field team’s initial site visit, seven samples of discarded quartz vein spoil were collected.
The highest concentration was 64 ppb Au, with five samples less than the limit of detection (1 ppb).
On the Tiélouléna permit three artisanal sites were visited. The newest site was Guelo, and was opened in 2018 to recover gold from
eluvium and quartz veins cutting the bedrock metasedimentary rocks. Five samples were collected from the site and the highest gold
concentrations were recorded from an ore dressing site (0.81 g/t Au) and spoil associated with a shaft (0.17 g/t Au).
Six of the artisanal workings on the permits are coincident with the shallow soil geochemical anomalies previously identified by Compass
(Figure 1). The gold concentration of the soil samples at these workings ranged from 8 to 51 ppb Au (Table 1). The other eight artisanal
workings had gold in soil concentrations that ranged from less than the limit of detection (5 ppb) for four samples, to 14 ppb Au. The
difference between the limits of detection between the 2018 soil samples and the 2019 samples was due to different gold assay techniques
at the two assay laboratories, i.e., ALS (Johannesburg) and SGS (Bamako), respectively. These concentrations suggest that soil sampling
alone is not a good indication of the presence of gold mineralization, or that samples greater than 10 ppb are anomalous in this
environment.
Although the initial reconnaissance grab samples collected are encouraging, the company has immediately started a new sampling
program on nine areas within the Yanfolila South block to determine the extent and gold grade of mineralization. This will take the form of
methodical grid sampling, with a spacing of 50 m, of discarded spoil material associated with artisanal excavation (dark grey areas in
Figure 1). It is estimated that this work program, which will take three to four weeks to complete, will include the collection of about 1,350
samples for analysis. The results of this geochemical survey will be used to initially identify bedrock drilling targets, which will subsequently
be tested through aircore (AC) or reverse circulation (RC) drilling.
Ouassada IP and Magnetic Survey
The previously announced ground geophysical surveys (see Compass news release dated February 14, 2019) at the Farabakoura artisanal
workings on Ouassada have been completed. The data is currently being interpreted by a geophysical consultant and the results will be
announced shortly. Once the optimal measurement parameters have been determined, the remaining 55-line-kms of IP (over 19 targets) on
the Ouassada and Farabakoura permits will be performed.
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 situated at three sites in southern Mali with a combined land holding of 854 km 2. The Sikasso Property is located within the
same region as several multi -million ounce gold projects, including Morila, Syama, Kalana and Kodiéran. 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 initiating a new exploration
Name Permit Type
1 Max. Au in soil
(ppb)
2 Year
(Discovered/Reactivated) Dimensions
Depth
(m)
3 Estimated Gold
Production
Sanoutafougani Badogo Eluvial 10 ca. 1960 / 2013 600 x 100 m 2.5
10 kg (320 oz) with nuggets
20-60 g noted
Sokofèle Kra
Kra Badogo Eluvial 51 > 2004 400 x 50 m 3
Coarse gold 1-18 g nuggets
present
Senébéldé Badogo Eluvial 50 2018 75 x 25 m - < 1 kg
Wolokourou Badogo Eluvial 11 > 2004 25 m x 25 m 1
Small (1 g) gold nuggets
noted
Niaguélé Dama Badogo Alluvial < 5 ca. 1900 - - -
Samagouela Kourou Eluvial/Bedrock 8 2016?
200 m x 100
m 22.5 20 kg (645 oz Au)
Samagouela
Ancien Kourou Eluvial/Bedrock 14 ca. 1940s
200 m x 10
m - -
Bougoufiè
Trichiyoro Kourou Eluvial 12 > 2004 100 x 50 m 1.5 2-3 g nuggets noted
Daoulemba Kourou Eluvial/Bedrock 12 1989
50 m x < 5
m < 2 -
Djiguiba
Kourou Lontola Eluvial < 5 2015
200 m x 150
m - < 1 kg (32 oz)
Moussaoule
Kourou Lontola Eluvial < 5 > 2004
500 m x 50
m 2 < 1 kg (32 oz)
Tioulena Tieoulena Eluvial < 5 2014 350 x 150 m 9 -
Tinkole TieoulenaEluvial/Bedrock 9 2015 Isolated pits - -
Guelo TieoulenaEluvial/Bedrock 6 2018
100 m x 10
m - -
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.”
QAQC
All geochemical 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 samples were
prepared and analyzed at SGS SARL (Bamako, Mali) by fire assay analysis. All standard and blank results were reviewed to ensure no
failures were detected.
Qualified Person
This news release has been reviewed and approved by Dr. Sandy Archibald, P.Geo, Compass ’ 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:
Website: www.compassgoldcorp.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
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