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Compass Gold’s Geochemical Survey Reveals Four More Shallow Gold Anomalies

In a report, Compass Gold Corp added an update on the formerly announced ongoing shallow soil geochemical survey program at the Ouassada exploration permit on its Sikasso Property in Southern Mali.

Location of the anomalous gold zones (dashed outlines) as identified by shallow soil geochemistry. Four additional zones are identified in Target areas 2 and 3.

Highlights

  • Four more parallel, northwest‐trending gold anomalies have currently been identified over strike lengths up to 12 km and widths up to 2 km, bringing the total to nine
     
  • Highest soil samples have 3,800 parts per billion (ppb) gold (Au) (3.8 g per ton (g/t) Au) 550 m north of artisanal workings at Farabakoura. Highest gold concentrations are not limited to areas of known workings.
     
  • In this latest phase of work, a total of 1,139 shallow soil samples were collected on the Ouassada permit where the average gold background for shallow soil samples was 5 ppb
     
  • Deep soil auger sampling at Ouassada is currently 90% over, and the shallow soil sampling is at present taking place on the Sankarani permit with 88% of the samples collected
     
  • High‐resolution Airborne geophysical interpretation, and structural and hyperspectral remote sensing (satellite) studies have been commenced

As we continue to receive shallow soil results from the assay lab it is gratifying to see that additional zones of gold anomalism have been identified on the Ouassada permit.  We have delineated at least nine zones, with the potential to identify addition zones as we complete our infill sampling between our primary target areas.  Soil auger sampling has been completed at Ouassada, and the field teams are now moving to Sankarani.  We eagerly anticipate the assay results of this deeper sampling, and hope they correlate with the shallow soil anomalies.

Larry Phillips, Compass CEO

Following the Company’s progress report of February 28, 2018, the Compass Gold Corp is happy to report the results of 1,139 extra shallow soil samples, collected over two broad zones within the Ouassada permit (target areas 2 and 3).  Target area 1 had 1,175 sample points. The targets were identified by inferring airborne geophysical data, the presence of a widespread zone of artisanal mining (comprising bedrock, vein‐hosted, gold mineralization) and the similarity of the geological and structural setting to the Yanfolila gold mine, situated 40 km along strike to the southwest.

Detailed Shallow Soil Results

The newest 1,139 shallow samples were gathered from a depth of approximately 0.4 m over the permit on an east‐west grid with a line spacing of 500 m and a sample spacing of 100 m.  The samples were tested by fire assay analysis at the international recognized geochemical laboratory of ALS (Ouagadougou, Burkina Faso).  

Basic statistical analyses were done on the combined data on target areas 1, 2 and 3 (and the area between target 1 and 2), to establish the degree of sample anomalism.  Background values were considered to be 5 ppb Au or less (number (n) = 1664), weakly anomalous (5-11 ppb Au, n = 444), moderately anomalous (11-17 ppb Au, n = 107), strongly anomalous (17-77 ppb, n = 86), and extremely anomalous (> 3 standard deviations from the mean, 77 ‐ 3800 ppb Au, n = 12).  

The formerly published results, from 1,175 shallow soil samples in target area 1, identified a 12‐km long continuous anomaly spreading from the artisanal gold workings at Kabangouè through the largest concentration of workings at Farabrakoura and extending for an extra 9 km to the north‐northwest.  A second sporadic anomaly with the same trend appears 1 km to the west, and is present for a strike length of 6.5 km.   

The latest results stretched the length of the 6.5 km anomaly in the center of the license by 2 km, but also identified four extra anomalous zones, which all trend towards the northwest, and differ in length from a continuous 5 km in the eastern part of the permit to two shorter (2 km‐long) anomalies in the west of the permit.  The new linear anomalies in targets 2 and 3 are actually narrower (one‐point anomalies) when compared to the anomalies existing in target area 1 (up to 2 km in width).  These surface widths are not uncommon in prospective gold areas in Mali covered by laterites.

Soil Auger Sampling

Based on these preliminary shallow soil results, the Compass Gold Corp is actively awaiting the results of the newly concluded 2,024 holes (27,970 m) truck‐mounted power auger soil samples collected within the Ouassada permit.  The results of this program will be published immediately after the assays are received from the laboratory.  The results will be used to establish the location of drill holes to test the occurrence of bedrock mineralization.

The surface geochemistry teams have finished work over target areas 2 and 3, and are at present moving on to the neighboring Sankarani permit.  Samples gathered in both of these areas have been shipped to the assay laboratory.

Sankarani Sampling

So far, a total of 1,707 samples have been taken from Sankarani, from a planned total of 1,931.  The sampling program is anticipated to be finished by April 6th, with gold assay results published by the end of April. Soil auger drilling will begin in early May, and the sampling locations will be reliant on the shallow results.

Regional Studies

Two studies have been ordered by Compass Gold Corp utilizing formerly collected data.  The first study is a reinterpretation of the high‐resolution airborne geophysics gathered by the company in 2011.  This study is presently being handled by Jeremy Brett, PGeo, principal consultant geophysicist at MPH Consulting, Toronto.  The second study is a structural and hyperspectral remote sensing (satellite) study, which will be handled by Dr. Francis Murphy, PGeo, Murphy Geosciences, Ireland.  This latter study is slated to commence in mid‐April

Summary

Shallow soil geochemistry assays have currently been received on target zones 1, 2 and 3 on the Ouassada permit.  The nine linear gold shallow soil anomalies matched with structures present in the airborne magnetic data, and are very encouraging.  The Compass Gold Corp looks forward to the infill shallow soil assays, and the outcome of the soil auger study. When all the geochemistry results are amassed and examined they will form the foundation of identifying bedrock drilling targets. This deeper drilling program is expected to be executed in late Q2. The work program is continuing on time and within budget.

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