Highlights
- Drilling at Tarabala identifies a pronounced, broad, shallow gold target, associated with a shear zone, extending at least 1.1-kilometres
- Higher-grade mineralized zones intercepted within wide zones of low-grade mineralization; remains open down dip
- Best interval: 5 m at 2.86 g/t Au (from 8 m), including 1 m @ 12.50 g/t Au (from 9m)
- Preparing immediate further drilling at Tarabala and initial drilling on other prospects on the Tarabala Trend
- Latest drilling along 1.7 km portion of 10 km Samagouela Trend confirms wide zones of quartz veining
- Compass to host Webinar on
January 21 – Will include an Update and Discussion of Next Steps
Compass CEO,
He added, “Final assays from the December drilling at the first section of the Samagouela Trend confirmed that we intercepted the target structures predicted by the previously noted geophysical survey. We are planning additional drilling programs on this trend, targeting Old Sam and Ourou Ourou.”
Dr.
Tarabala Drilling Results
Thirty-six (36) air core (AC) holes (1,500 m) and two reverse circulation (RC) holes (186 m) were drilled in December at Tarabala to test the lateral extent and orientation of a wide zone of previously identified near-surface mineralization at the prospect (See Compass press release,
Over the 1,800 m strike length tested, a 1,100-m panel of wider and higher-grade mineralization was identified (Figure 2). Generally, gold mineralization was present within a wide (15 to 34 m) zone of quartz veining parallel to the Tarabala fault that contained low-grade concentrations (< 0.5 g/t Au). Individual intervals within this mineralized zone are narrower with higher gold grades (Table 1). For example, SAAC75 had a mineralized interval of 11 m @ 0.57 g/t Au (from 23 m), SAAC83 had 5 m @ 2.86 g/t Au (from 8 m), and SAAC95 6 m @ 0.64 g/t Au (from 28 m). A deep RC hole, SARC001, identified a 17-m-wide mineralized zone containing several higher-grade intervals including 5 m @ 0.94 g/t Au (from 59 m) and 4 m @ 0.84 g/t Au from 67 m (Figures 2 and 3 and Table 1). Numerous higher-grade intervals were recorded, including 1 m @ 12.5 g/t Au (from 9 m) in SAAC83, 3 m @ 5.13 g/t Au (47 m to the end of the hole) in SAAC080, and 1 m @ 7.30 g/t Au (from 46 m) in SAAC076. These higher values correspond well to grab samples collected of quartz vein material from the artisanal workings.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/20f81cfb-5340-4d34-ad14-b4e8c274fc48
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4645749f-3c01-4cc9-a052-bdc110749bf4
Based on the highly encouraging AC drilling, two RC holes were drilled to test the mineralization at depth. SARC01 confirmed the width of the mineralized structure, the fact it remains open at depth, and the orientation of the mineralization matches surface measurements for the Tarabala fault and veins present in the artisanal workings (Figure 3).
Table 1. Mineralized intervals greater than 3 m identified during recent drilling at Tarabala
Hole ID | From (m) | To (m) | 1, 2 Interval (m) | Au (g/t) |
SAAC72 | 0 | 14 | 14 | 0.33 |
SAAC73 | 15 | 17 | 2 | 1.90 |
SAAC73 | 34 | 36 | 2 | 1.19 |
SAAC73 | 47 | 50 | 3 | 0.32 |
SAAC74 | 18 | 20 | 2 | 0.25 |
SAAC75 | 23 | 34 | 11 | 0.57 |
SAAC76 | 37 | 40 | 3 | 0.40 |
SAAC76 | 43 | 47 | 4 | 2.11 |
inc | 46 | 47 | 1 | 7.30 |
SAAC79 | 42 | 49 | 7 | 0.50 |
inc | 42 | 45 | 3 | 0.73 |
inc | 47 | 49 | 2 | 0.53 |
SAAC80 | 29 | 33 | 4 | 0.38 |
SAAC80 | 37 | 44 | 7 | 0.43 |
SAAC80 | 47 | 50 | 3 | 5.13 |
SAAC82 | 26 | 31 | 5 | 1.23 |
SAAC83 | 0 | 3 | 3 | 1.78 |
SAAC83 | 8 | 13 | 5 | 2.86 |
inc | 9 | 10 | 1 | 12.5 |
SAAC85 | 12 | 15 | 3 | 0.43 |
SAAC94 | 11 | 15 | 4 | 0.90 |
inc | 13 | 14 | 1 | 1.87 |
SAAC95 | 28 | 34 | 6 | 0.64 |
inc | 28 | 29 | 1 | 2.08 |
SARC001 | 45 | 48 | 3 | 0.35 |
SARC001 | 59 | 64 | 5 | 0.94 |
inc | 61 | 52 | 1 | 2.96 |
SARC001 | 67 | 71 | 4 | 0.84 |
SARC002 | 1 | 6 | 5 | 0.44 |
SARC002 | 10 | 14 | 4 | 3.11 |
SARC002 | 21 | 25 | 4 | 1.04 |
SARC002 | 34 | 37 | 3 | 1.10 |
SARC002 | 42 | 43 | 3 | 0.58 |
SARC002 | 65 | 73 | 8 | 0.55 |
inc | 71 | 72 | 1 | 1.81 |
1True thicknesses are interpreted as 70-90% of stated intervals, except for SARC002 which is 20-40% of the stated interval.
2 Intervals use a 0.2-gram-per-tonne gold cut-off value
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cc281151-04c9-4b03-a86c-9eaf5e38a8e8
Samagouela Drilling Results
Further to the drilling results previously reported from Samagouela (see Compass press release,
Technical Details
All AC holes from Tarabala and Samagouela reported here were drilled on an azimuth of 270° (towards the west), at dips of 55°, with lengths varying from 50 to 56 m at Tarabala and 31 m to 59 m at Samagouela. These fences of holes were to test structures interpreted from the Gradient IP survey, and potential mineralized trends identified by earlier drilling by Compass. Two RC holes (90 and 96 m) were drilled at Tarabala and one RC hole (52 m) at Samagouela to test the presence and orientation of deeper mineralization. The hole at Samagouela was abandoned due to excess ground water. Drilling was performed by two companies: Target Drilling undertook work at Tarabala, and
Next Steps
Preparations are underway at Tarabala to perform a 30-hole (1,725 m) in-fill drilling program centred on a 1,100-m panel of the Tarabala fault zone. This drilling will include ten holes drilled to test ground along strike that was not targeted in the
Planning for exploration drilling at Ourou Ourou and Old Sam on the Samagouela Trend are being finalized, with drilling expected to take place in Q1.
Ongoing in-fill shallow soil sampling and ground geophysics are continuing on other areas of the Sikasso property, and new targets are continually being appraised and identified.
Compass Webinar
Compass will be hosting a webinar at
To register for the webinar, please follow this link: https://www.redcloudfs.com/rcwebinar-cvb/
Before the webinar, investors are invited to review the Company’s latest news releases (http://compassgoldcorp.com/category/news/) and investor presentation (http://compassgoldcorp.com/investor-presentation/).
About
Compass, a public company having been incorporated into
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 (
Qualified Person
This news release has been reviewed and approved by EurGeol. Dr.
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:
lphillips@compassgoldcorp.com | gtaylor@compassgoldcorp.com |
T: +1 416-596-0996 X 302 | T: +1 416-596-0996 X 301 |
Website: www.compassgoldcorp.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
Figure 1
Property map showing the location of Tarabala and Samagouela.
Figure 2
Drilling locations and significant results at Tarabala. Previous drilling results in yellow labels.
Figure 3
Cross section at Tarabala showing the continuity of the mineralized structure.
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