Toronto, Ontario, July 16, 2018 – Compass Gold Corp. (TSX-V:CVB) (Compass or the Company) is pleased to provide an update on ongoing geochemistry and geophysics fieldwork from the priority target areas on the Ouassada and Sankarani exploration permits on its Sikasso Property in Southern Mali.
Highlights
● Several discrete highly anomalous gold samples identified at Ouassada target area 3 (TA3)
o Anomalies correlate with margins of a late granodiorite intrusion, and a shear zone within the intrusion
● A five-line, 18-km-long, induced polarization (IP) study has been completed over the principal target zone (target area 1/TA1) on Ouassada to aid in identifying drilling targets in the principal exploration area
● An expedited 95-hole deep soil auger drilling program has been completed over the high-priority Sodala shallow soil gold anomaly on the Sankarani permit
Compass CEO, Larry Phillips, commented, “Work on our southern Malian property is progressing despite the heavy rains in the region, and we are very pleased with both the results and the progress we are making. These results are invaluable in helping us to refine our next exploration efforts. While TA1 at Ouassada is currently our principle target on the permit – where we have identified a broad zone of gold anomalism over a distance of 12 km located 4 km to the west of TA 3 – we are awaiting the assay results from several other areas on our property. At the same time, we are reviewing the results of our recently completed IP study over TA1, which will aid in determining our bedrock drilling targets there. ”
“We have also completed our deep soil auger drilling at the new Sodala anomaly on our Sankarani permit, where shallow soil sampling identified a 2 km-wide area with soil samples containing up to 31.1 g/t gold. We expect that within a few weeks we will have all of the data and results to formulate a deep drilling plan for Ouassada and Sankarani that will include multiple priority targets. Pending results on Kalé may add to the deep drilling target priorities before the end of the rainy season.”
Compass Technical Director, Dr. Sandy Archibald, added, “I am pleased with the exploration progress on our property. Our geological knowledge of the five permits continues to grow daily as we received the results from our field surveys, and our technical team looks forward to using the data to define our Q4 deeper drilling targets. We expect shallow soil gold assay results from our Kalé, Kourou, and Tiélouoléna permits shortly, which we hope will lead to more exploration activity in addition to our planned work on the preliminary drilling targets we’ve identified so far at Ouassada and Sankarani.”