Compass Gold Corp. (TSX-V: CVB) (Compass or
the Company) is pleased to provide an update on
the recently completed drilling at the Sodala prospect, located on
the Company’s Sikasso Property in southern Mali (
Figure
1).
Highlights
- Drilling at Sodala identifies a broad, shallow gold
target, associated with a shear zone
- Air core drilling (9 AC holes, 467 m) intersected gold
mineralization within a 280-m wide fault zone cutting artisanal
gold workings
- Further geophysical testing and drilling planned on
permit to test a large (1,000 m x 500 m) shallow soil
anomaly
Compass CEO, Larry Phillips,
said, “Additional bedrock drilling on the Sankarani East permit has
identified gold mineralization within a newly discovered shear zone
centred on the Sodala artisanal workings. The results of this
latest drilling validate Sodala as a major target for additional
geophysical testing and follow-up drilling. This work has
also given us a much clearer understanding of the controls on
mineralization, and explains the location of a pronounced soil
anomaly, which includes a 31.3 g/t Au sample collected by
Compass.”
He added, “As we’ve recently reported,
geophysical and geological testing has led to our discovery of two
new mineralized trends at Tarabala and Samagouela, and it now
appears that Sodala lies on a similar structure. We have
abundant evidence that several permits within our
850-square-kilometre property display the necessary geological
features to potentially host open-pittable gold deposits, all
within one of the most prolific gold districts in the world.”
Permit overview map:
http://compassgoldcorp.com/sikasso-properties/
Sodala Drilling Overview In
mid-April, the Company completed 310 m of shallow air core (AC)
drilling over 175 m of artisanal workings at Sodala on the western
side of the Sankarani East permit (Figure
1). This was the first drilling on the prospect, and
focused on artisanal workings occurring within a 270-m-wide
shear-zone, and cut by NE-trending faults that appear to control
mineralization. The latest drilling comprised 377 m of AC and
90 m of reverse circulation (RC) drilling. The purpose of the
drilling was to determine the grade, width, and orientation of
mineralization recorded at the artisanal workings, and to use this
information to identify the mineralized structures responsible for
some exceptionally high shallow soil samples collected in
2018. The high-grade samples were collected within 700 m of
the artisanal workings and the five highest recorded soil grades
were 31.3, 10.1, 2.49, 1.29 and 0.50 g/t Au.
Previous drilling on the prospect (see Compass
press release, May 7, 2020) identified three narrow, near-surface,
mineralized structures with 1 m @ 0.78 g/t Au (from 1 m, SAAC29), 1
m @ 2.71 g/t Au (from 16 m, SAAC31), and 1 m @ 0.82 g/t Au
(from 8 m, , SAAC32). All of mineralization was associated
with a small hydrothermally altered felsic unit. The current
drilling was planned to test the same mineralization in order to
determine the precise orientation and dip of the veins.
Figure 1: Geology, major
faults, soil anomalism and artisanal workings at Sodala is
available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/438a4ae4-e5e4-4f99-bba5-5e01f5be9a55
The current drilling comprised a single fence 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. The fence was specifically designed to test
gold-bearing quartz veins mapped in the artisanal workings and
noted in the drilling in April, and the interpretation of Gradient
IP geophysics that the workings were coincident with a major
north-south shear zone.
Drilling ResultsThe best
mineralization occurred in drill holes SAAC60 (Figure 2), where
five mineralized intervals were recorded over the 52m length of the
hole (Table 1), and SAAC64, where four mineralized intervals were
recorded. The longest mineralized intercept was 4 m @ 0.61
g/t Au (from 8 m, SAAC60). Grades were typically between 0.20
and 0.70 g/t Au, with higher grades up to 2.45 g/t Au (from 33 m)
present in SAAC64.
Drilling revealed the veins were present within
a graphite-rich shear zone, and determined that the veins dip
between 40 and 75°and trend to the northwest (325°). All this
information is consistent with geological mapping in the area, and
interpretation of the ground geophysical surveys.
Figure 2: Satellite map
of the Sodala prospect showing the location of bedrock drilling in
relation to the target structure is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/57da2b7e-9aee-4fa5-ae88-09155096e6ea
Table 1. Assays greater
than 0.2 g/t Au identified during recent drilling at Sodala
Hole ID |
From (m) |
To (m) |
1, 2 Interval (m) |
Au (g/t) |
SAAC57 |
21 |
22 |
1 |
0.58 |
SAAC58 |
21 |
22 |
1 |
0.27 |
SAAC59 |
0 |
1 |
1 |
1.45 |
SAAC59 |
4 |
6 |
2 |
0.26 |
SAAC59 |
8 |
9 |
1 |
0.2 |
SAAC60 |
0 |
1 |
1 |
1.05 |
SAAC60 |
8 |
12 |
4 |
0.61 |
inc |
10 |
11 |
1 |
1.42 |
SAAC60 |
23 |
24 |
1 |
0.24 |
SAAC60 |
25 |
27 |
2 |
0.34 |
SAAC60 |
50 |
52 |
2 |
0.68 |
inc |
51 |
52 |
1 |
1.14 |
SAAC63 |
23 |
26 |
3 |
0.57 |
SAAC64 |
1 |
2 |
1 |
0.2 |
SAAC64 |
10 |
11 |
1 |
0.21 |
SAAC64 |
21 |
22 |
1 |
2.45 |
SAAC64 |
29 |
30 |
1 |
0.21 |
1True thicknesses are interpreted as 60-90% of
stated intervals
Technical Details
All AC drill holes in this campaign (SAAC57-64)
were drilled on an azimuth of 255° (towards the west-southwest), at
dips of 55°, with lengths varying from 48 m to 54 m. The
fence was planned to cut the main artisanal workings at Sodala at
the intersection between the main north-south trending Sodala
shear-zone and a northeast-trending splay fault. The site of
the workings is also coincident with an interpreted highly-altered
felsic intrusion and proximal to an exceptionally high shallow soil
gold anomaly with assays up to 31.30 g/t Au. This is the
highest grade of 6,749 soil samples collected on the Sankarani and
Sankarani East permits by Compass. Soil samples greater than
0.5 g/t Au are present up to 750 m from the workings, and appear to
correlated closely with a second northeast-trending splay fault
with a 1000 m strike length. This area will be the primary
focus of additional drilling in the coming months.
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. Drilling was performed
by IDC Drilling (Mali), and collected samples were assayed at SGS
(Bamako, Mali) by fire assay. Geophysical interpretation of
the Gradient IP data was performed by Jeremy S. Brett, M.Sc.,
P.Geo. (MPH Consulting Limited), and structural analysis by
independent consultant geologist David Lewis, M.Sc., P.Geo.
Next Steps
The technical team, which is only awaiting
infill shallow soil assay results from Massala (Sankarani permit),
is interpreting the results from all recent exploration programs,
and placing them in a geological framework. These latest
drilling results will help to determine the precise location for
follow-up drilling on the identified target structures at Tarabala,
Sodala and Samagouela. This drilling will start when weather
conditions permit after the cessation of the rainy season, normally
in October. Gradient IP surveys are also being planned in
areas containing strong gold in shallow soil anomalism coincident
with regional target structures.
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 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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REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
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THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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