Drilling at Farabakoura and Kabangoué Supports Continuity of Gold-Bearing Structures

Preparing to Drill Four New Targets

Toronto, Ontario, February 17, 2020 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the latest exploration drilling at the Farabakoura and Kabangoué prospects, located on the Company’s Sikasso Property in Southern Mali (Figure 1).

Highlights

  • Drilling at Farabakoura (8 RC holes, 1,174 m) extended continuity of gold mineralization in east-west trending structures along strike and at depth
  • Best interval was 2 m @ 7.13 g/t Au, within 13 m @ 1.67 g/t Au (from 19 m)
  • Drilling at Kabangoué North (5 RC holes, 750 m) intersected several zones of mineralization, including 8 m @ 0.67 g/t Au (from 21 m)
  • Kabangoué South (3 RC holes, 450 m) intersected a narrow interval of gold mineralization (1 m @ 0.23 g/t Au, from 73 m) in an area of artisanal workings that contained grab samples assaying 25.4 g/t Au
  • Immediately commencing 2,000 m air core drill program on four new geochemical targets with artisanal mining workings on the Sankarani and Kourou permits

Compass CEO, Larry Phillips, said, “We continue to intercept significant gold mineralization at Farabakoura, where we have drilled less than half of the area covered by artisanal gold workings. We are also advancing our understanding of the complex nature of gold mineralization there, and we are particularly encouraged by the evidence from our drilling that there have been multiple mineralization events on this prospect. Based on the technical data, we have identified nine more targets on the Farabakoura Trend, each and every one of which needs to be drill-tested.”

He added, “Our initial drilling at Kabangoué North also encountered promising gold mineralization associated with an area that has been worked by artisanal miners.  One-kilometre further south, at Kabangoue South, we are working to identify the bedrock source of gold-bearing quartz veins that contain up to 25.4 g/t Au recovered from the artisanal workings in 2012.”

Technical Director, Dr. Sandy Archibald noted, “Over the last 14-months we have accumulated a great deal of geological, geochemical and geophysical information on the numerous prospects along the 15-km long Farabakoura Trend.  While the drilling takes place on geochemical targets on three of Compass’s other permit areas, we will be appraising the extensive drilling data, conducting a comprehensive structural synthesis, and completing our outstanding geophysical surveys across Farabakoura in order to further understand how these multiple mineralized zones fit together.  This will help us to continue to effectively explore the Farabakoura Trend when we begin the next phase of drilling there in April.

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