Toronto, Ontario, July 31, 2018 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the current geochemistry and geophysics surveys, and the planned Q4 work program on the Sikasso Property in Southern Mali.
Highlights
- Completion of phase 1 exploration on Ouassada permit, and review of results has identified 14 targets over a distance of 12 km that warrant bedrock drilling
- Proposed phase 2 drilling will target near-surface bedrock gold mineralization
- Four zones containing active artisanal mining are considered priority areas; will involve six fences of drilling totaling approximately 3,500 m
- The average length of the 14 drilling targets is 1.2 km; the longest zone is 2.45 km
- Targets based on shallow and deep (auger) soil gold anomalism; induced polarization (IP) conductors; geological mapping; and, interpretation of high-resolution airborne magnetic geophysics
Compass CEO, Larry Phillips, commented, “This represents an exciting new chapter for the Company, as it will be the first bedrock drilling program ever executed on our 1,179 sq. km Sikasso property. We’ve achieved this pending milestone through the dedicated work of our technical team, led by Dr. Madani Diallo, which has complied the results of extensive exploration geochemistry and geophysics work to identify these first 14 bedrock drilling targets. While we had already planned and budgeted to examine the first two targets in this second phase, we have identified still more priority targets. Now, with the additional funds raised in May, we are looking to expand our bedrock drilling to test four priority target zones in areas of current artisanal mining activity. We hope that drilling will begin in early-November when ground conditions are suitable.”