DEEP AUGER SAMPLING CONFIRMS GOLD ANOMALISM AT MORIBALA Immediate Follow-Up is Planned on Three 1-km-Long Target Zones
DEEP AUGER SAMPLING CONFIRMS GOLD ANOMALISM AT
MORIBALA
Immediate Follow-Up is Planned on Three 1-km-Long Target Zones
Toronto, Ontario, January 18, 2021 – Compass Gold Corp. (TSX -V: CVB) (Compass or the
Company) provides an update on the recently completed deep auger drilling program at
Moribala and the shallow soil sampling program at Morila, both located on the Company’s
Sikasso Property in Southern Mali (Figure 1).
Highlights
● Auger drilling confirmed the presence of deeper gold anomalism previously identified by
licence-wide shallow soil sampling at Moribala
● Anomalies associated with artisanal workings following faults on the Tarabala Trend
● Geochemistry suggests at least three 1-km long target zones are present on the 12 km of
faults on the permit
● Ground geophysics is underway at Moribala to help refine air core (AC) drilling targets in
February 2022
● On the Morila block, initial soil sampling collection has focussed on thr ee high-priority
areas
● A remote sensing study is underway over the Morila block with results expected in late-
January.
Compass CEO, Larry Phillips, said, “We are excited to report on our successful December auger
drilling program at Moribala, which tested a southern extension of the Tarabala Trend, as well as
a parallel trend, totalling 12 kilometers in length. The auger drilling went down to a depth of about
15metres, focussing on three zones, each about 1km in length. This drilling confirmed the
presence of shallow gold anomalism consistent with what was previously discovered at surface
with soil sampling. The three target zones are coincident with artisanal workings associated with
these two large faults that transect the licence. Our team is now conducting a Gradient IP survey
in preparation for an Air Core drilling program that will test these zones to a depth of about 60
metres.
Meanwhile, at our new Morila permit block, we are please d to report that we have completed
three focused shallow soil surveys. Initial indications are that these permit areas share significant
geological features with the nearby Morila mine. We have commissioned a remote-sensing study
on our permit block, and these results should be available shortly.”
Mali
Compass Exploration Manager and Director, Dr. Madani Diallo , added, “While the political
situation in Mali continues to evolve, we have felt no significant impact on our exploration . As
several large producers there have already reported, we do not foresee any interruption of our
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operations. Our Mali-based discovery team is highly experienced and together, we will continue
to monitor events as the transitional government, the people of Mali and the Economic
Community of West African States (ECOWAS) work towards a peaceful resolution of their
differences.”
Moribala Drilling Results
A 73-hole (1,032 m) auger drilling program was completed on four fence lines (350 - 500 m) on
the Moribala permit in December 2021 (Figure 2). The three areas drilled were coincident with
artisanal gold workings and shallow soil anomalism associated with two prominent , 6-km-long,
faults on the permit. The eastern fault is interpreted to be a continuation of the Tarabala fault .
Significant bedrock gold mineralization was intercepted 10-km to the north on this fault, over
1.1 km, at the Tarabala prospect by Compass in 2020 and 2021 (See Compass press releases May
7, 2020, and December 6, 2021). Both faults each contained three areas where gold anomalism
in shallow soils attained strike lengths of approximately 1 km (Figure 2). The 1 km strike lengths
are consistent with the Company’s target size criterion. The holes were spaced at 25 m intervals
and drilled vertically to depths from 9 m to 18 m. Sampling was over 3 m intervals and produced
344 samples.
The average grade in the auger holes was 14 ppb Au (reflective of the wide spacing), but the
highest zone of anomalism was located on three of the lines generally above the fault as
interpreted from a satellite study. The highest recorded gold grade was 139 ppb Au , which is
generally comparable with the auger drilling grades returned from the Tarabala prospect prior to
deeper drilling and identification of bedrock gold mineralization. For example, a 50 ppb Au auger
sample at Tarabala was followed up with air-core (AC) drilling that returned 17 m @ 0.73 g/t Au
(from 18; SAAC109). The location of the holes containing anomalous gold grades is in good
agreement with the workings and the interpreted fault.
Based on the encouraging soil and auger results, a Gradient Induced Polarization (IP) was initiated,
and once completed it will be used to refine the location of the Company’s first bedrock drill holes
along the two highly prospective structures.
Morila Shallow Soil Sampling
Between November and mid-January 2021, 4,375 soil samples were collected from seven high-
priority areas on the Morila permit block (comprising the Ko urouforéla, Kouma and N’Tila
permits). The areas were selected based on an initial geological and structural compilation of
historic data. Emphasis was placed on the contact between granitic intrusions or the proximity
to major faults, akin to the geological setting at the world-class Morila mine, located 10-km along
strike from the Kourouforéla permit. A 1988 government- funded regional soil survey identified
an isolated single point anomaly containing 4,50 ppb Au. Follow-up work and subsequent drilling
delineated a resource that has produced more than 7.5 Moz of gold since 2000 . The final assay
results from Compass’s recent s oil sampling should be available early next month and will be
reported as soon as possible.
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Figure 1: Property map showing the location of Compass’s new Moribala and Morila permits.
Figure 2: Location of the recently completed anomalous shallow soil samples and auger drilling sites. The
positions of the ongoing ground geophysical surveys are also illustrated.
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Next Steps
A ground-based Gradient IP survey, covering 2.6 sq. km, is currently underway at Moribala, which
will help define the precise location of the deeper AC drilling targets. Each survey will take
approximately one week to complete, with the first survey data expected next week. A ir-core
drilling is expected to commence at Moribala in mid-February.
The focused soil sampling program on the Morila block permits is complete, and all assays are
pending. Results are expected by early February. A remote-sensing study that includes a satellite
alteration and structural study over Morila is currently be ing performed by Murphy Geological
Services. The interpretation and targeting report is expected in mid-February.
Finally, Compass is reviewing all of the previous exploration performed on the Morila permits and
reinterpreting the historic (2004) government-sponsored airborne geophysics. This information
will be integrated with the new soil data to help identify potential drilling targets in March.
Technical Details
All auger holes at the Moribala were vertical, with hole lengths varying from 6 to 18 m, and an
average depth of 14 m . Drilling was performed by Sahara Drilling (Bamako, 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 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. The y 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 auger 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 3 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, the Qualified Perso n 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.
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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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