Compass Gold Corp. (TSX-V: CVB) (Compass or
the Company) is pleased to provide an update on
the recently completed drilling at the Samagouela prospect, located
on the Company’s Sikasso Property in Southern Mali.
Highlights
- Air core (AC) drilling at Samaguela (26 RC holes, 1,497
m) intersected gold mineralization at both ends of a 1.4 km
interpreted fault zone
- Best interval was 10 m at 1.67 g/t Au (from 50 m),
including 1 m @ 13.04 g/t Au (from 50m), with mineralization open
at the base of the hole
- Drilling encountered gold mineralization 1.4 km south
of the Samagouela artisanal workings, including 5 m at 1.93
g/t Au (from 53 m), with
mineralization open at the base of the hole
- Shallow soil anomalism (with samples up to 4.03 g/t Au)
present along interpreted fault
Compass CEO, Larry Phillips,
said, “Our initial bedrock drilling at Samagouela has identified
gold mineralization associated with quartz veins adjacent to a
large fault, and underlying extensive artisanal workings. Artisanal
miners there have reported that they have used mechanical
excavators to recover ‘significant’ amounts of gold. Our drilling
along the same fault also intercepted gold mineralization 1.4 km to
the south of the workings. The presence of anomalism up to
4.03 g/t gold in shallow soils samples is also highly
encouraging for more bedrock gold mineralization.”
“These results are further confirmation that our
permit areas have the potential to host several large, near
surface, mineralized zones, which was our core objective for this
year’s exploration program. Based on these promising findings, we
plan an additional 950 m of AC drilling at Samagouela next month,
starting right after we finish the second round at our Tarabala
prospect.”
Samagouela Air Core Drilling
Results
Between April 9th and 17th, the Company
completed 1,497 m of air core (AC) drilling over selected
geophysical and geochemical targets on the northern portion of the
Kourou permit (Figure 1). The drilling
targeted a 1.5-km-long and 200-m-wide zone identified from ground
geophysics, soil anomalism and the presence of artisanal
workings. The workings cover an area of 200 m x 100 m,
and depths up to 22.5 m. Artisanal miners reported in late
2018 that mechanical excavation of one area of the workings had
recovered 645 oz (20 kg) of gold over a three-month period
A second area, approximately 1.4 km south of the
Samagouela workings, was also investigated. The primary
target there was the interpreted offset of the north-south trending
Samagouela fault and a large NE-SW oriented fault. This
second fault is coincident with unnamed artisanal workings 2 km
along strike and a broad gold in shallow soil anomaly at Ourou
Ourou (Figure 1).
Figure 1: Location of artisanal
workings, regional soil geochemistry and drilling locations at
Samagouela is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/1727f8fb-df31-4f9e-94c1-76e4f25a36cc
Permit overview map:
http://compassgoldcorp.com/sikasso-properties/
The Samagouela prospect was drilled by three
fences of AC holes (Figure 2). The northern
12-hole fence (KOAC01-14, totalling 746 m) was designed to test the
generally north-south trending interpreted fault. Gold
mineralization was encountered in drill holes KOAC04 and KOAC013
(Table 1). KOAC04 contained an intercept of
5 m @ 1.33 g/t Au (from 49 m) and terminated in
mineralization. A broader and higher-grade zone of 10
m @ 1.67 g/t Au (from 50 m) was present in KOAC13, and
included an interval of 1 m @ 13.04 g/t Au (from
50 m). This hole also terminated in mineralization, and was
targeted to intercept the known mineralization in the deepest part
of the artisanal workings.
Drill targets were based on the interpretation
of recently completed gradient induced polarization (IP) geophysics
that identified subsurface features, and infill shallow soil
geochemistry that identified areas of gold anomalism.
Indications are that this at least 10 m-wide mineralized zone is
related to a NNE-trending splay on the main Samagouela fault. The
highest gold content of a soil sample in the immediate area was
4.02 g/t Au (Figure 2), and it was not associated
with artisanal gold workings.
Mineralization was present within metasediments
(metamorphosed siltstones). All the holes had a planned depth
of 70 m, but due to the hardness of the bedrock, the average
penetration was 53 m and the maximum depth reached was 68 m.
As a result, some gaps are present between drill holes, including a
25 m zone within the area of intense artisanal mining activity.
Figure 2: Map showing the
location of AC drilling and summary intercepts at Samagouela is
available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/b664d4a9-ea82-4a50-af5c-c0e34af26a89. The
location of the next stage of drilling is also illustrated.
Table 1. Significant
assays (>0.5 g/t Au) identified during recent drilling at
Samagouela
Hole ID |
From (m) |
To (m) |
1, 2 Interval (m) |
Au (g/t) |
KOAC04 |
49 |
54 |
5 |
1.33 |
KOAC13 |
10 |
11 |
1 |
0.70 |
KOAC13 |
50 |
60 |
10 |
1. 67 |
Inc. |
50 |
51 |
1 |
13.04 |
KOAC15 |
48 |
49 |
1 |
0.60 |
KOAC15 |
53 |
58 |
5 |
1.93 |
KOAC25 |
41 |
42 |
1 |
1.99 |
KOAC25 |
65 |
66 |
1 |
0.52 |
1 True thicknesses are interpreted as 60-90% of stated
intervals 2 Intervals use a 0.2-gram-per-tonne gold
cut-off value
As noted, additional drilling was carried out
1.4 km to the south of the main artisanal pit at Samagouela.
Two east-west trending fences, 100 m apart, were completed,
including 13 drill holes (KOAC15-26) totalling 751 m. The
purpose of the drilling was to target the intersection of the
north-south Samagouela fault with two other faults, a pronounced
NE-trending fault and weaker NW-trending one. Weak to
moderate gold shallow soil anomalism is present in the area,
although one sample collected contained 0.89 g/t Au.
Two holes, KOAC15 and KOAC25, contained
mineralized intervals greater than 0.2 g/t Au
(Table 1). KOAC15 encountered 5
m @ 1.93 g/t Au (from 53 m) at the base of the hole, and
the mineralization remains open at depth. KOAC25 contained
several mineralized intervals, including 1 m @ 1.99 g/t
Au (from 41 m) and a wide, low-grade mineralization
interval at the end of the hole with 12 m @ 0.18 g/t Au (from 54
m). The highest-grade interval within the larger intercept
was 1 m @ 0.52 g/t Au.
Technical DetailThe Samagouela
fence (KOAC01-12, and 14) was drilled on an azimuth of 160°
(towards the SSE), at a dip of 60°, with lengths varying from 39 m
to 60 m. Drill hole KOAC13 was drilled on an azimuth of
270° (towards the west). This fence was planned to intercept
the northern part of the interpreted Samagouela fault, and the site
of the reportedly high-grade gold veins recovered by artisanal
workers. The two southern fences, KOAC15-20 and KOAC21-26,
were drilled on an azimuth of 270° (towards the west), at dips of
60°, with lengths varying from 44 m to 67 m. These fences
were drilled on an area covered by a gradient IP geophysical survey
that was interpreted to cover a later NE-trending fault that had
offset the main north-trending Samagouela fault. The closest
artisanal workings to the area drilled were located 350 m to the
north.
Next StepsA 19-hole, 950 m
follow-up AC drill program is planned at Samagouela based on the
initial drilling and interpretation of the ground geophysics.
This program is part of at least 2,500 m of AC drilling that will
take place over the next four to six weeks on the Tarabala, Sodala
and Samagouela prospects. The Company’s technical team is also
performing in-fill shallow soil geochemistry sampling and gradient
IP geophysical surveys on high-priority targets identified by
previous fieldwork.
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
Air core drilling was performed by IDC Drilling
(Senegal) and all 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 InformationThis
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 |
lphillips@compassgoldcorp.com |
gtaylor@compassgoldcorp.com |
T: +1 416-596-0996 X 302 |
T: +1 416-596-0996 X 301 |
Website: www.compassgoldcorp.com
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THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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