Compass Gold Completes Expanded Q4 2020 Drill Program at Samagouela and Tarabala

More than 75% of Assay Results Pending; Target Generation Work Continues

Toronto, Ontario, December 30, 2020 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the recently completed drilling at the Samagouela and Tarabala prospects, located on the Company’s Kourou permit within the Sikasso Property in Southern Mali.

Highlights

  • Samagouela – Air core drilling (41 AC holes, 1,901 m) and reverse circulation (1 hole, 52 m) drilled on two gold mineralized structures (Includes 8 AC holes and 1 RC hole added to the original program.)
    • 2,054 samples dispatched to assay laboratory (795 results received)
  • Tarabala – 1,505 m from 30 AC holes and 186 m from 2 RC holes completed
    • 1,780 samples dispatched to assay laboratory with all results pending
  • Ground geophysics completed on eight of twelve target areas
  • 482 in-fill shallow soil samples pending from Kourou permit

Compass CEO, Larry Phillips, said, “As promised, we have now completed the latest drill program at Samagouela and Tarabala, part of the ongoing 17,000 metre program that will continue into the first half of the coming year. While originally planned for 3,000 m of air core drilling, our technical team expanded the program to test a total of 3,644 m. The small sampling of initial results we’ve received so far has confirmed the presence of the mineralization and quartz vein structures that we have been looking for. We look forward to receiving all of the assay results, which are expected by mid-January, and which will help determine the next stage of drilling.”

Compass Director and Exploration Manager, Dr. Madani Diallo, added, “Initial results from this latest work at Samagouela have confirmed the presence of gold mineralization associated with our target structures, demonstrating the benefits of using ground geophysics and surface geochemistry in this part of Mali. Meanwhile, we are moving ahead with more drilling, as well as more Gradient Induced Polarization ground geophysics and geological mapping.  Our goal with all of this work is to identify additional drilling targets to be tested in the first half of 2021.”

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