Highlights
Auger drilling confirmed the presence of deeper gold anomalism previously identified by licence-wide shallow soil sampling at Moribala
Anomalies associated with artisanal workings following faults on the Tarabala Trend
Geochemistry suggests at least three 1-km long target zones are present on the 12 km of faults on the permit
Ground geophysics is underway at Moribala to help refine air core (AC) drilling targets in
On the Morila block, initial soil sampling collection has focussed on three high-priority areas
A remote sensing study is underway over the Morila block with results expected in late-January.
Compass CEO,
Meanwhile, at our new Morila permit block, we are pleased to report that we have completed three focused shallow soil surveys. Initial indications are that these permit areas share significant geological features with the nearby Morila mine. We have commissioned a remote-sensing study on our permit block, and these results should be available shortly.'
Compass Exploration Manager and Director, Dr.
Moribala Drilling Results
A 73-hole (1,032 m) auger drilling program was completed on four fence lines (350 - 500 m) on the Moribala permit in
The average grade in the auger holes was 14 ppb Au (reflective of the wide spacing), but the highest zone of anomalism was located on three of the lines generally above the fault as interpreted from a satellite study. The highest recorded gold grade was 139 ppb Au, which is generally comparable with the auger drilling grades returned from the Tarabala prospect prior to deeper drilling and identification of bedrock gold mineralization. For example, a 50 ppb Au auger sample at Tarabala was followed up with air-core (AC) drilling that returned 17 m @ 0.73 g/t Au (from 18; SAAC109). The location of the holes containing anomalous gold grades is in good agreement with the workings and the interpreted fault.
Based on the encouraging soil and auger results, a Gradient Induced Polarization (IP) was initiated, and once completed it will be used to refine the location of the Company's first bedrock drill holes along the two highly prospective structures.
Morila Shallow Soil Sampling
Between November and
Next Steps
A ground-based Gradient IP survey, covering 2.6 sq. km, is currently underway at Moribala, which will help define the precise location of the deeper AC drilling targets. Each survey will take approximately one week to complete, with the first survey data expected next week. Air-core drilling is expected to commence at Moribala in mid-February.
The focused soil sampling program on the Morila block permits is complete, and all assays are pending. Results are expected by early February. A remote-sensing study that includes a satellite alteration and structural study over Morila is currently being performed by Murphy Geological Services. The interpretation and targeting report is expected in mid-February.
Finally, Compass is reviewing all of the previous exploration performed on the Morila permits and reinterpreting the historic (2004) government-sponsored airborne geophysics. This information will be integrated with the new soil data to help identify potential drilling targets in March.
About
Compass, a public company having been incorporated into
Forward Looking Information
This news release contains 'forward looking information' within the meaning of applicable securities laws, including statements regarding the Company's planned exploration work and management appointments. Readers are cautioned not to place undue reliance on forward looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward looking information except as required by applicable law.
Contact:
Tel: +1 416-596-0996
Web: www.compassgoldcorp.com
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