Compass Increases Confidence in a 2-km Structural Gold Target Within 10-km Tarabala Trend Additional Drilling Targets Identified by Ground Geophysics
Compass Increases Confidence in a 2-km Structural Gold Target Within 10-km
Tarabala Trend
Additional Drilling Targets Identified by Ground Geophysics
TORONTO, June 15, 2020 -- Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an
update on the recently completed drilling at the Tarabala prospect, located on the Company’s Sikasso Property in Southern
Mali (Figure 1).
Highlights
• Coordinated exploration work at Tarabala identifies a pronounced, broad, shallow gold target, associated
with a shear zone, extending more than 2-kilometres
• Air core drilling (24 AC holes, 1,253 m) intersected gold mineralization within the 10 km long Tarabala soil
geochemistry trend
• Best interval was 14 m at 1.24 g/t Au (from 23 m), including 1 m @ 12.99 g/t Au (from 33m)
• Further geophysical testing planned on other Tarabala Trend prospects in preparation for additional drilling
once ground conditions permit
Compass CEO, Larry Phillips, said, “Our technical team has uncovered a large and very encouraging gold target running for
at least two-kilometres through our Sankarani permit, which remains open at both ends. A combination of drilling, soil
sampling and geophysical surveys confirms our interpretation that our permits cover a highly-favourable segment of the
Tarabala fault, and further supports our belief that we are in the correct geological environment for a major gold-bearing system,
one which demands additional testing.”
He added, “In addition to the work at Tarabala, our team completed initial air core drilling programs at two large targets;
Samagouela on our Kourou permit; and, Sodala on our Sankarani East permit. Like Tarabala, these targets were selected
based on highly prospective geophysical and geological data, and their potential to contain large near surface gold
mineralization. With the results from Samagouela and Sodala expected in the next few weeks, we hope to continue to
demonstrate the significant potential for finding gold deposits at the Compass land package, which totals more than 850
square kilometres, all within one of the most prolific gold districts in the world.”
Dr. Madani Diallo, Director and Country Manager , added, “As our current exploration program nears its conclusion with
the start of the rainy season, I am gratified to see the positive results that our field teams have achieved. It is especially
important to note that this work has been completed without any cases of COVID-19 infection amongst Compass employees
or subcontractors in the field or our exploration office in Bamako, and that we have continued our stringent health protocols.”
Permit overview map: http://compassgoldcorp.com/sikasso-properties/
Tarabala Drilling Overview
In mid-May, the Company completed 1,253 m of shallow drilling over Gradient Induced Polarization (IP) geophysical and
shallow soil geochemical targets on the eastern portion of the Sankarani permit (Figure 1). This program comprised 1,144 m
of air core (AC) and 109 m of reverse circulation (RC) drilling. The drilling targeted an area approximately 1-km-long and
350 m-wide within the greater Tarabala Trend. This trend has a strike length of 10 km and an up to 600-m-wide zone on the
permit, and consists of anomalous gold in shallow soil samples, along with three areas of artisanal gold workings (Tarabala,
Yala, and Assama). These workings and soil anomalisms fall on the interpreted location of the Tarabala fault zone, which
extends approximately 30 km to the south-southwest through the Sankarani permit, and hosts at least forty documented
artisanal gold workings, suggesting it is a major gold-bearing system.
Previous drilling on the prospect (see Compass press release, May 7, 2020 ) identified two mineralized structures with 18 m @
0.43 g/t Au (from 41 m, SAAC01) and 16 m @ 1.51 g/t Au (from 16 m, SAAC02), which included 4 m @ 5.20 g/t Au (26 m).
The current drilling was planned to test the presence of this mineralization at distances of 200 m, 370 m, and 750 m along
strike from SAAC01 and SAAC02, and to determine which structures control mineralization.
Figure 1: Drilling locations at Tarabala and summary of significant intercepts. The principal target structures and soil
geochemistry are also illustrated is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/431daf22-8f14-
4d02-a446-a28c7950eeab
The current drilling entailed three fences of predominantly AC holes. In order to achieve the planned depth, the drill rig was
reconfigured to use reverse circulation (RC) equipment in areas where more resistant quartz veins were encountered. Each
fence was designed to test specific targets determined from Gradient IP geophysics or gold in shallow soil geochemistry. The
first fence (Fence 4, SAAC33-39) was to test a pronounced chargeability high (due to graphite-rich sediments), and 70 m to
the west, a strong resistive feature likely caused by meta-sandstone. The second fence (Fence 5, SAAC40-45) was designed
to target only the chargeability high, and the third fence (Fence 6, SAAC46-56) to target an area of shallow soil anomalism
with samples containing up to 15.3 g/t Au, but without any geophysical anomalies.
Implications of drilling at Tarabala
The two campaigns of drilling at Tarabala since March 2020 have significantly enhanced the understanding of gold
mineralization at the prospect. It was found that the best holes – those that encountered elevated gold grades (> 1 g/t Au)
over wide intervals (> 10 m) – were those that specifically targeted the sheared contact between the meta-sandstone and the
highly-sheared graphite metasediments (SAAC01, SAAC02, and SAAC35). Geophysical interpretation of the Gradient IP data
by Jeremy S. Brett, M.Sc., P.Geo. (MPH Consulting Limited), combined with the drilling results, suggests that a 2,000 m
portion of the Tarabala fault, centered on the main artisanal workings, has not been adequately tested and requires immediate
follow-up drilling. The target is clearly defined on the Gradient IP resistivity map (Figure 2).
Figure 2: Satellite map of the Tarabala area showing the location of bedrock drilling in relation to the target structure (red
dashed line). The insert map shows the area relative to the overall Tarabala Trend is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c291d551-acd6-4b0c-a3ee-ae6c74bf518d
Drilling Results
The best mineralization occurred in drill hole SAAC36 (Fence 4, Figure 1), where two broad zones of mineralization, totalling
31 m, were intercepted in the 54 m hole (Table 1). The upper interval intercepted 14 m @ 1.24 g/t Au (from 23 m), and
included a high-grade intercept of 1 m @ 12.99 g/t Au (from 33). The lower interval was 11 m @ 0.26 g/t Au (from 43 m),
including 3 m @ 0.38 g/t Au (from 49 m). The lower zone remains open as the hole terminated in mineralization. The
mineralization occurs near the contact between meta-sandstone (physically strong rocks) and highly-sheared (weaker)
graphite-rich metasediments.
On drill Fence 5 (150 m to the north), the best mineralized interval was 1 m @ 0.56 g/t Au (from 41 m) in SAAC44, and was
associated within a 10-m wide interval of sheared graphite-rich metasediments.
No mineralization was noted on Fence 6 (350 m north of Fence 5). This location was chosen to test a highly-anomalous
shallow soil geochemical anomaly and northeast-trending fault. It was not intended to target the Gradient IP anomalies
representing the sheared graphite-rich zone, or the interpreted structure in the meta-sandstone. The lack of mineralization in
these holes indicates that the gold in the soil anomaly is likely transported from the main workings, and the mapped fault
likely post-dates mineralization.
Table 1 . Assays greater than 0.2 g/t Au identified during recent drilling at Tarabala
Hole ID From (m) To (m) 1, 2 Interval (m) Au (g/t)
SAAC33 17 18 1 0.55
SAAC34 32 33 1 0.24
SAAC34 42 43 1 0.22
SAAC35 0 1 1 0.42
SAAC35 6 8 2 0.29
SAAC35 18 19 1 0.21
SAAC36 12 13 1 0.31
SAAC36 23 37 14 1.24
SAAC36 23 25 2 0.33
SAAC36 27 30 3 1.00
SAAC36 33 34 1 12.99
SAAC36 36 37 1 0.28
SAAC36 43 54 11 0.26
inc 43 44 1 0.26
inc 45 46 1 0.52
inc 39 52 3 0.38
inc 53 54 1 0.46
SAAC37 0 1 1 0.21
SAAC37 2 3 1 0.26
SAAC37 46 47 1 0.31
SAAC38 3 4 1 0.20
SAAC39 18 19 1 1.02
SAAC41 50 51 1 0.29
SAAC44 41 42 1 0.56
1True thicknesses are interpreted as 60-90% of stated intervals
2 Intervals use a 0.2-gram-per-tonne gold cut-off value
Technical Details
Three fences (Fences 4, 5 and 6, containing drill holes SAAC33-56) were drilled on an azimuth of 270° (towards the west), at
dips of 55°, with lengths varying from 41 m to 60 m. Two fences were planned to cut the main area of the 600-m-long Tarabala
workings and intersect the interpreted western fault that makes up the Tarabala fault zone. The northern fence was drilled to
test an area between two northeast-trending faults, and a coincident shallow soil gold anomaly with assays returning up to
15.30 g/t Au. The high-grade soil sample is at least 150 m from the closest recorded workings. Drilling was primarily
performed by AC methods, but in areas of abundant quartz veins it was necessary to complete the planned holes using RC
equipment. Earlier AC drilling depths at Tarabala were limited by the hardness of the quartz veins. Drilling was performed by
IDC Drilling (Mali), and collected samples were assayed at SGS (Bamako, Mali) by fire assay.
Pending Results – Samagouela and Sodala
On June 4, 2020, the Company completed 467 m of AC drilling at Sodala, on the Sankarani East permit. This followed the
second round of drilling at Samagouela (totalling 992 m) on the Kourou permit and the interpretation of a Gradient IP survey.
Samples have been dispatched to the assay laboratory, and results are expected within the month.
Next Steps
Field teams are continuing to perform in-fill shallow soil geochemistry sampling on high priority targets on the Sankarani and
Tiéloulena permits. The results of these soil surveys will be used to help design follow-up exploration programs.
Results from the current drilling programs will also be put into a geological framework to help determine the precise location for
follow-up drilling on the newly identified target structure. This drilling will start when weather conditions permit after the
cessation of the rainy season, normally in October.
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. 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 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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