COMPASS INTERCEPTS 7 M AT 2.85 G/T GOLD WITH DEEP DRILLING AT MORIBALA Additional Mineralized Zones Identified During Assay Verification
COMPASS INTERCEPTS 7 M AT 2.85 G/T GOLD WITH DEEP
DRILLING AT MORIBALA
Additional Mineralized Zones Identified During Assay Verification
Toronto, Ontario, August 29, 2021 – Compass Gold Corp. (TSX -V: CVB) (Compass or the
Company) is pleased to provide an update on the recently completed deep bedrock drilling on
four prospects on the new Moribala permit , located on the Company’s Sikasso Property in
Southern Mali (Figure 1).
Highlights:
● Initial deep drilling (10-holes/833 m) on four prospects on the Moribala permit confirmed
the presence of deeper gold mineralization at two of the prospects associated with the
Moribala fault at Dakoun
o Best intercept: 7 m @ 2.85 g/t Au (from 70 m), incl. 6 m @ 3.29 g/t Au (70 m).
• Dakoun mineralization was traced 220 m along strike within the main fault zone and
remains open downdip and over a distance of 3 km to the northeast
● Additional assaying suggests the presence of coarse gold associated with quartz veins in
previously unidentified zones at Dakoun and Dafaraba
● Resampling program is underway to determine the full extent of the “nugget” effect at
Moribala and along strike at Tarabala and Massala West
Compass CEO, Larry Phillips, said, “The latest RC drilling at Moribala has identified wider and
higher-grade gold mineralization at Dakoun compared with the earlier AC drilling and increased
the previously reported strike extension of the mineralization at Dafaraba. Because our initial
drilling results were clearly at odds with the abundant artisanal gold workings, we’ve reprocessed
and re-assayed our RC chips. The results of this work revealed that, due to the coarse grain size
of the gold and the small sample size assay, much of the gold went undetected.”
He added, “This work has opened the tantalizing possibility that our earlier drill results may have
significantly understated the actual near-surface gold content in the numerous artisanal workings
we’ve tested. The team has completed the sampling of select RC drill holes at Massala West and
Tarabala, and also performed sampling at twenty surface workings. Results for this work are
pending, and if they are encouraging, we will start a bulk sampling program in mid-October to test
for the presence of near-surface gold on the property.”
Dr. Madani Diallo, Director and Country Manager, added, “We are finding increasing evidence
that much of the gold in these areas is too coarse and nuggety to be measured through standard
drilling. However, we believe that this gold, much of which is found in quartz veining, may only
be recoverable through broad er sampling and processing techniques t o ensure that the true
amount of gold can be properly recorded.”
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Figure 1: Location of the Moribala permit (blue rectangle) relative to mineralization in the area.
Moribala Reverse Circulation Drilling Results
Ten reverse circulation (RC) holes (833 m) were drilled in late June on four prospects (Dafaraba,
Ngolokouna, Million-ki, and Dakoun) on the Moribala permit ( Figure 1). These areas had be en
previously drilled by air core (AC) drilling , and two prospects (Dafaraba and Dakoun) had
encountered encouraging results. The Ngolokouna and Million-ki prospects did not identify gold
mineralization in the AC program. However, the abundance of active artisanal mining operations
and a clear correlation with ground geophysics and remote sensing studies suggested that the
shallow AC drilling might have dril led through areas that had been mined out. It was therefore
decided that a single deep RC hole should be drilled on each prospect in an area of artisanal
workings
The best mineralization encountered during the RC drilling was reported from the Dakoun
prospect where the previous twenty-hole AC program had intercepted several short intervals of
mineralization, including 2 m @ 1.12 g/t Au (from 21 m). MORC07 intercepted 7 m @ 2.85 g/t Au
(from 70 m), including 6 m @ 3.29 g/t Au (from 70 m) , and MORC08 intercepted shallow low -
grade mineralization of 4 m @ 0.25 g/t (from 34 m) . MORC08 was designed to test deeper
mineralization, but had to be stopped before the target structure was reached due to poor ground
conditions. Holes MORC09 and MORC010 were drilled 220 m to the NE to test the strike potential
of the structure identified from ground geophysics. MORC09 was barren, but MORC10 contained
three mineralized intervals over a length of 11 m, which included 1 m @ 2.30 g/t Au (from 56 m).
This indicates the structure is present, and the gold content is highly variable.
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Figure 2: Latest RC drilling results (red labels) and previous AC drilling results (black labels).
Four holes (totalling 347 m) were drilled at Dafaraban, the northwest of the Moribala permit over
the interpreted Moribala Fault. Previous drilling in the area had identified a wide zone of shallow
gold mineralization returning 21 @ 0.50 g/t Au (from 1 m), including 7 m @ 1.01 g/t Au (from 1
m). The purpose of MORC01 and MORC02 was to intercept this mineralization at depth to
determine the down-dip continuity. Neither hole encountered mineralization, with the highest
gold content being 0.17 g/t Au in MORC01. It is very likely that the drilling missed the st ructure
due to the angle of the hole (i.e., the mineralization is associated with a cross fault on the Moribala
fault.) Two additional holes were drilled 280 m to the southwest over the interpreted location of
the Moribala fault. These holes returned narrow mineralized intervals of 1 m @ 0.92 g/t Au (from
26 m; MORC03) and 1 m @ 0.28 g/t Au (from 14 m; MORC04). None of the holes were associated
with artisanal workings, the closest workings being 200 m to the northwest of MORC01.
At Nglokouna, a prospect characterized by abundant active artisanal workings , a shallow soil
sample collected at its edge contained 43.6 g/t Au. This prospect covers an area of 0.5 sq. km and
follows the interpreted Tarabala fault over a distance of 1.9 km. Despite the clear evidence of
gold being recovered in the vicinity, air core drilling returned only weak mineralization (grades
less than 0.6 g/t Au over 1 m) and the single deep RC hole there (MORC05 for 54 m) recorded a
maximum gold content of 67 ppb Au. Similar re sults were obtained at the Million-ki prospect,
where drilling beneath workings that follow a fault parallel to the Moribala and Tarabala fault
returned only 25 ppb Au.
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Table 1. Mineralized intervals greater than 0.2 g/t Au identified during recent drilling at Moribala
Hole ID From (m) To (m)
1, 2 Interval
(m) Au (g/t)
MORC003 26 27 1 0.92
MORC004 14 15 1 0.28
MORC007 70 77 7 2.85
inc 70 76 6 3.29
MORC008 34 38 4 0.25
inc 34 35 1 0.44
inc 36 38 2 0.27
MORC010 46 47 1 0.33
MORC010 52 54 2 0.47
MORC010 56 57 1 2.30
1True thicknesses are interpreted as 60-90% of stated intervals.
2 Intervals use a 0.2-gram-per-tonne gold cut-off value
The results of the drilling at the Nglokouna and Million-ki are clearly at odds with the evidence of
gold recovery by the local artisanal miners. All four of the main prospects at Moribala are
associated with surficial mining, and all four have returned variable AC and RC drilling results.
There is clear support for surficial enrichment due to weathering, and artisanal miners have
recovered coarse-grained gold.
Similar gold variability is seen at depth from the drilling at Dakoun and Dafaraba, and was
investigated by a preliminary study where the course field rejects from the RC program were
washed and sieved to separate the quartz vein material from the weathered wall rock and friable
vein material (now clays). The results of this selected a ssaying program are shown in Table 2.
MORC01, MORC03, and MORC04 (all from Dafaraba) show elevated gold values in the quartz vein
fraction (up to 7.47 g/t Au) compared to the original assay (47 ppb or 0.047 g/t Au). MORC04 also
contains an unrecognized mi neralized zone of 15 m @ 0.22 g/t Au, which corresponds to the
Moribala fault that the drilling targeted.
Table 2. Comparison between original assay results and assays from quartz vein and clay fractions from
RC drill holes at Moribala
1True thicknesses are interpreted as 60-90% of stated intervals.
2 Quartz and clay fractions grades have not been corrected for weight or volume fraction . Caution is advised.
3 1,000 ppb Au equals 1 ppm Au, or 1 g/t Au
Hole ID From
(m) To (m)
1Interval
(m)
2, 3Au (ppb)
Original Assay
2, 3Au (ppb)
Quartz Fraction
2, 3Au (ppb)
Clay Fraction
MORC01 11 12 1 11 3,170 39
MORC03 22 23 1 111 385 -
MORC03 25 26 1 47 7,470 -
MORC03 26 27 1 923 42 -
MORC03 40 41 1 39 213 -
MORC04 16 31 15 55 219 -
MORC07 70 77 7 2,852 1,277 1,826
Inc 69 77 8 2,854 1,502 1,876
MORC08 34 38 4 251 2,355 70
MORC08 32 43 11 134 1,557 70
MORC10 4 5 1 90 2860 24
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At Dakoun, reassaying of MORC07 showed the original assay results to be higher than the two
fractions (2,584 ppb Au versus 1,277 ppb Au for the quartz fraction and 1,826 ppb Au for the clay
fraction). In drill hole MORC08, an interval with 4 m @ 0.25 g/t Au was increased to 4 m
@ 2.35 g/t Au (by using the quartz fraction), which was part of a much wider intercept of 11 m @
1.56 g/t Au.
Caution must be taken with these results since they represent fractions of the rock material
over the stated interval. However, they clearly demonstrated that there is a variability of gold
grade within the mineralized target zone, and the variability is likely caused by coarse -grained
(“nuggety”) gold associated with the quartz veins. Additional sampling and assaying of the
surface workings and RC d rill cuttings at Moribala, Mas sala West and Tarabala have been
started to determine the degree of the nugget effect in these areas. Results are pending.
Next Steps
Due to the variable gold grades encountered during the AC and RC drilling programs at Moribala
it is necessary to determine the true concentration of gold associated with the artisanal workings
on the Moribala and Tarabala faults. This has been done through a series of large representative
samples (10-20 kg) collected from the workings to increase the likelihood of detecting coarse
grained gold a representative sample. RC chip samples from earlier drilling at Tarabala and
Massala West have been collected, washed, sieved and assayed to determine if unrecognized
mineralized zones are present at these showing, similar to those noted at Moribala. Results from
both of these studies are pending.
If the results are positive, the Company plans to recover and proc ess large samples (5,000 to
10,000 kg) from the workings to determine the presence of coarse gold, and investigate the
possibility of recoverable gold in the weathered rock (laterite) associated with the Moribala and
Tarabala faults. Preparations are being made to start this work in mid-October.
Technical Details
RC holes reported from Dakoun, Dafaraba and Million -ki were drilled on an azimuth of 315°
(towards the northwest), at dips of 60°, with lengths varying from 73 to 99 m. The drill hole at
Nglokouna was drilled on an azimuth of 270° (towards the west) at a dip of 60° and a length of
84 m. The holes were to test structures interpreted from the Gradient IP survey and previously
tested by AC drilling. Drilling was performed by Target Drilling (Mali). All samples were prepared
by Compass staff and an appropriate number of standards, duplicates and blanks were submitted
and analysed for gold at SGS (Bamako, Mali) by fire assay.
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 four sites in southern Mali with a combined land holding of 1,143 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
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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 wer e 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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