DRILLING COMPLETED AT FARABAKOURA – Additional Work Underway in Preparation for More Drilling

Toronto, Ontario, May 8, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the results of their ongoing exploration activity on their Yanfolila North and Yanfolila South blocks, comprising parts of the Sikasso Property in Southern Mali.

Highlights

  • Completed 13 reverse circulation (RC) drill holes at Farabakoura artisanal workings, totalling 1,928 m
  • Completed a detailed 3-sq.-km ground magnetic survey over the Kabangoué workings
  • Ongoing 60 km of ground induced polarization (IP) examination at Ouassada and Faraba-Koura
  • Identifying new drilling targets based on latest drilling and geophysical results 

Compass CEO, Larry Phillips, said, “We have completed our latest round of drilling at Farabakoura, which has advanced our knowledge of this target area.  Assays are pending for the last four of the thirteen holes drilled, and we expect to be able to release them within the next ten days.  In the meantime, our technical team has been busy performing a number of geophysical and geochemical surveys.  The results of all of this work will be used to finalize our next drilling program on the Ouassada and Faraba-Coura permits, which we expect to begin before the end of this month.”

Reverse Circulation Drilling (Farabakoura)

As previously announced (see Compass news release dated March 28, 2019), the Company planned to conduct approximately 1,000 m of additional drilling at the extensive Farabakoura artisanal site.  The focus of this additional drilling was to test two parallel NW-trending structures, termed the Farabakoura Pit Structure, and the Kabangoué Structure, and the general east-west trending structure termed the Farabakoura East Structure.  Drilling targets were based on the interpretation of geophysical survey data and previous drilling results.  The Company was able to extend this program to include a total of 13 new RC holes for a total length of 1,928 m.  The final drill hole, OURC025, was completed on May 3.  Results will be announced once the final assays are received from the laboratory and they pass appropriate industry QAQC protocols.

Ground Magnetic Study (Kabangoué)

A detailed ground magnetic survey, covering an area of 3 sq. km and centred on the Kabangoué artisanal workings, was completed on May 6, 2019.  The north-south orientated grid is at a line-spacing of 50 m and will provide resolution to help plan the next phase of drilling at the artisanal workings.  The field work was performed by technicians from EurekaGeo, a mineral exploration consultancy based in Bamako, Mali.  This magnetic survey data will be interpreted by Jeremy S. Brett, M.Sc., P.Geo. (MPH Consulting Limited, Toronto), in consultation with Compass staff.

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