Compass Gold identifies 15 targets at Moribala, Mali

Compass Gold Corp. [CVB-TSXV; COGDF-OTC] provided an update on the recently completed remote sensing study completed on the Moribala permit, located on the 100%-owned company’s Sikasso property in southern Mali, West Africa.

Highlights included identifying 15 target areas on the Moribala permit. This increases the size potential of three previously drilled targets that contain gold mineralization. Targets are associated with Moribala and Tarabala faults and areas of hydrothermal alteration. Remote sensing results generated new mineralized targets to the north on the Sankarani permit.

Compass CEO, Larry Phillips, said, “I’m encouraged to see that the results from this recent remote sensing study support our view that the Moribala permit has excellent potential to host economic gold mineralization. Further, these results have indicated likely extensions of these highest priority targets, where initial drilling has confirmed the presence of gold, including a 21-m wide intercept grading 0.51 g/t gold. The study identified 15 target zones that we will test through ground geophysics to provide more precise drilling targets. We look forward to starting this work as soon as possible.”

The Moribala remote sensing study utilized a detailed Sentinel-2 and ASTER satellite image interpretation of the Moribala permit that was undertaken by Murphy Geological Services to identify alteration and structures (faults) associated with orogenic gold mineralization seen in southern Mali. The primary aim of the study was to define the structural framework of the permit and generate gold exploration targets.

A total of 15 targets were identified and ranked using the structural and alteration interpretation, in conjunction with the results of the Compass shallow soil geochemistry survey, the distribution of artisanal workings, interpretation from ground geophysics, and the presence of gold mineralization found through recent air core (AC) drilling in the area. Four primary targets were identified, nine secondary targets, and two tertiary targets.

The targets are associated with the NE-trending faults that comprise the Siekorole shear zone, in particular along the Moribala and Tarabala faults. Four primary targets were identified, nine secondary, and two tertiary. All of the targets have merit, in a permit with little to no exposure of the bedrock geology.

Three of the four primary targets were drilled in the March 2022 drilling program, with drill hole MOAC012 on target area MB-1 encountering a 7 metres of 1.01 g/t gold (from surface) intercepted within 21 metres of 0.50 g/tgold(from surface). This drilling result bodes well for drilling on other targets along strike.

Additional work is required to test the other targets. This includes ground geophysics (Gradient IP) to determine the precise location of the controlling structure, AC drilling to establish the presence of near-surface mineralization, and reverse circulation drilling to confirm mineralization in the bedrock.

As noted in Compass’s March 31 press release, air-core (AC) and reverse circulation (RC) drilling is planned at Dafaraba and Dankoun to determine the strike and down-dip extension of mineralization. More drilling will also be performed at Nglokouna to target additional structures coincident with the workings. Based on the results of the remote sensing study, three other areas at Moribala will be prioritized for Gradient IP surveys to refine future AC drilling targets.

A similar satellite alteration and structural study is nearing completion on the Morila block permits, with results expected in about two weeks.

Through the 2017 acquisition of MGE and Malian subsidiaries, Compass holds gold exploration permits located in Mali that comprise the Sikasso property. The exploration permits are located in four sites in southern Mali with a combined land holding of 1,143 km2. The Sikasso property is located in the same region as several multi-million-ounce gold projects, including Morila, Syama, Kalana and Komana.