COMPASS IDENTIFIES TWO NEW 1-KM TARGETS WITH BEDROCK GOLD MINERALIZATION ON THE FARABAKOURA TREND Aggressive New Drill Program to Commence Following Rainy Season
COMPASS IDENTIFIES TWO NEW 1-KM TARGETS WITH BEDROCK
GOLD MINERALIZATION ON THE FARABAKOURA TREND
Aggressive New Drill Program to Commence Following Rainy Season
Toronto, Ontario, August 13 , 2020 – Compass Gold Corp. (TSX- V: CVB) (Compass or the
Company) is pleased to provide an update on the recently completed fieldwork at the Dialéké
prospect on the Company’s Sikasso Property in southern Mali (Figure 1).
Highlights
● Exploration work at Dialéké identifies two discrete >1-km-long zones of coincident gold-in-
shallow-soil anomalism associated with the Siekeroli shear zone
● Pronounced gold in soil anomaly present adjacent to Dialéké workings
● Gold-bearing quartz veins recovered from shallow artisanal workings
● Drilling at Dialéké will start when ground conditions permit
Compass CEO, Larry Phillips, said, “These latest results from our Dialéké prospect have added two
clear new targets to our already robust pipeline of highly prospective gold targets at
Tarabala, Samagouela and Sodala. Our objective for the coming year is to confirm a gold
resource at one or more of these targets contained on our Sikasso Property.”
He added, “Our technical team recently completed a review of all of our exploration results and
has outlined an aggressive and cost -effective exploration program for the coming field season
once ground conditions permit . The first stage of this exploration program will include a fully -
funded 3,000 m drill program on our Samag ouela and Tarabala prospect s, where we had
considerable success earlier this year. We are anxious to resume this next phase of field work as
soon as the rainy season ends.”
Dialéké Overview
Dialéké is located on the boundary between the Ouassada and Faraba-Coura permit areas (Figures
1 and 2). It is one of eighteen prospects previously identified along the 16-km Farabakoura Trend
through regional, shallow, soil geochemistry, deep auger sampling and airborne magnetic surveys.
The initial target at Dialéké was chosen based on an isolated 3.8 g/t Au shallow soil sample (the
highest shallow soil on the Ouassada/Faraba-Coura permits), close to the inferred location of the
Siekeroli fault, an d c ut b y a strong N W-trending fau lt in terpreted fro m air borne magnetic
surveying.
The latest assay results from the Dialéké prospect were received following the Company’s recently
completed field work in southern Mali, which concluded with the start of the rainy season.
Samples collected there in May from spoils heaps at a new area of east -west trending artisanal
workings, covering 4.5 hectares, contained mineralized quartz veins with grades up to 35.1 g/t Au
(Figure 2). Follow -up Gradient IP and shallow soil surveys confirmed the Dialéké workings are
centred on an area marked by numerous smaller faults and gold soil anomalism adjacent to the
main Siekeroli shear zone. Another target area 800 m to the west of the Dialéké workings contains
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gold in soil samples up to 1.22 g/t Au. This area represents an exciting new target 2 km to the
north of the focus of Compass’ field work in May 2019. This work was completed in mid-July, and
the final assays were received in early August. Drilling on the prospect is planned once ground
conditions permit.
Figure 1: Location of Compass Gold’s western permit areas. Target trends are illustrated in yellow with
corresponding prospects (purple text).
Technical Review:
Pit Reject (spoil) Samples
A total of 90 unbiased samples were collected on a 25 x 25 m grid over the newly identified
workings at Dialéké. The samples were 1.5 to 2 kg and randomly collected by shovel from the
waste piles adjacent to artisanal workings. Shafts vary in depth from 6 to 30 m, with the water
table occurring at 24 m.
Gold concentrations ranged from 1 ppb to 35,110 ppb (35.11 g/t Au). Five samples had gold
grades greater than 1 g/t Au (1.08, 2.98, 4.00, 4.63 and 35.11 g/t Au), and 18 samples had gold
grades between 0.2 and 1.0 g/t Au. Inspection of the pit reject samples showed the mineralization
was present in smoky quartz veins with oxidized pyrite that cut a sheared granodiorite. This is
similar to the mineralization noted in o ther prospects on the Farabakoura Trend (e.g.,
Farabakoura, Kabangoue, and Boumban).
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Figure 2: Location of the Dialéké prospect on the Farabakoura Tend. Other prospects on the trend are also
illustrated.
Shallow Soil Sampling
A total of 320 infill soil samples were collected on a 100 m x 100 m grid centred over the Dialéké
and Farabakoura NW workings . Gold concentrations ranged from 1 ppb to 1,220 ppb
(1.22 g/t Au), with an average concentration of 24 ppb . Eleven samples contained more than
100 ppb Au (0.10 g/t Au) , which is considered extremely anomalous in the total shallow soil
database (7,101 samples) covering the 179 sq. km Ouassada and Faraba-Coura permits.
Gold anomalism correlates closely with the presence of artisanal workings and interpreted faults.
A large 1 ,200 m long and up to 550 m wide zone of enhanced gold anomalism parallels the
western contact of the Siekorole fault and is centred on the Dialéké workings. This is considered
the primary target zone.
A second area of enhanced anomalism is noted in the NW corner of the sampling grid, including
one sample with 1.22 g/t Au. This 500 x 500 m zone correlates with a fault parallel to the Siekorole
fault that cuts a granodiorite. Only weak anomalism is present in the vicinity of the Farabakoura
NW artisanal workings, although a pit reject sample from this location contained 1.20 g/t Au.
Gradient Induced Polarization (IP) Survey
Concurrent with the geochemical sampling programs, a Gradient IP ground geophysical survey
was performed over the Dialéké and Farabakoura NW workings. The survey covered an area of
1.5 sq. km (1.4 x 1.0 km) and lines were orientated in a NE direction . The resistivity and
chargeability data were processed and interpreted by Jeremy S. Brett , M.Sc., P.Geo. (MPH
Consulting Limited).
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The processed data indicate the location of the Siekorole fault (Figure 1) and a parallel fault 600 m
to the west. The Dialéké workings are located at the centre of a 700 x 700 m zone of faulting that
is likely a favourable location for mineralization. The large area of gold soil anomalism in the
northwest of the soil grid appears to correspond to an area of less structural complexity.
Interpretation of Field Work
Surface geochemical and geophysical surveys at Dialéké have significantly enhance d the
understanding of likely locations for gold mineralization at the prospect. Two targets have been
identified that require follow-up drilling: a 700 x 700 m area centred at Dialéké, and a 500 x 500 m
area 400 m to the northwest of Farabakoura NW. Both targets are located on north -northwest
trending faults in contact with intrusive rocks and extend for over 1 km.
Next Steps
Compass’s technical team recently completed a thorough review of all exploration data collected
to date to appraise current and new target areas. The review outlined an aggressive exploration
program for the coming field season totalling at least 3,000 m of air core drilling on previously
identified broad zones of shallow gold mineralization on the Company’s Samagouela and Tarabala
prospects, and ground geophysics and in -fill soil surveys on additional areas of interest. This
exploration is fully -funded and is expected to start as soon as field conditions allow, likely in
November.
Targets have been selected according to their potential to host shallow, open -pittable ore
systems.
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 km2. The Sikasso
Property is located in the same region as several multi- million-ounce gold projects, including
Morila, Syama, Kalana and Komana. Mineralization hosted on adjacent and or nearby properties
is not necessarily indicative of mineralizat ion hosted on the Company’s property . 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 anomal ies first noted in Dr. Archibald’s August 2017 “National
Instrument 43-101 Technical Report on the Sikasso Property, Southern Mali.”
QAQC
All pit reject and soil 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. All 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.
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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 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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