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Be the first with the news that moves the market- Compass Gold (TSXV:CVB) has discovered a new shallow gold zone at its Samagouela and Samagouela South prospects in Southern Mali
- The company drilled a total of 1,445 metres in mid-May, focussing on an anomaly that was previously defined through geophysical and structural mapping
- Significant results include nine metres at 5.79 grams per tonne of gold at Samagouela, and 14 metres at 2.75 grams per tonne of gold at Samagouela South
- The results will be used to identify high-priority targets for a separate drill program later this year
- Compass Gold (CVB) is up 7.41 per cent and is trading at C$0.29 per share
Compass Gold (TSXV:CVB) has discovered a new shallow gold zone at its Samagouela and Samagouela South prospects in Southern Mali.
The prospects are located on the company’s Kourou permit within its Sikasso property, which was secured through Compass Gold’s acquisition of MGE and its Malian subsidiaries in 2017.
In mid-May, Compass Gold completed a drill program totalling 1,445 metres at the Samagouela prospects. This focused on a shallow soil geochemistry anomaly, associated with a northeast-trending shear zone, which was identified in an earlier program of geophysical and structural mapping.
Two areas of mineralisation were targeted, each associated with their own 200-metre-wide shear zone. These zones are connected, and it’s thought that they may extend to the northeast, beyond the area that was tested by the geophysical surveys.
The most significant drill results at Samagouela came from the KOAC30 hole, which included a wide zone of 9 metres at 5.79 grams per tonne of gold from 45 metres, as well as a higher-grade intercept of one metre at 36.37 grams per tonne of gold from 45 metres.
At Samagouela South, the best results came from drill hole KOAC44, which identified an additional wide zone of 14 metres at 2.75 grams per tonne of gold over 25 metres and a high-grade intercept of one metre at 11.64 grams per tonne of gold over 21 metres.
This mineralised structure can be traced over a distance of 350 metres, and mirrors existing contact interpretations along the northeast-trending shear zone.
Larry Phillips, CEO of Compass Gold, said the recently discovered gold zones are near surface, wide and contain the kind of grades the company has been targeting.
“This latest drilling has intersected high-grade gold veins beneath, and along strike from, the pit where artisanal miners have recovered gold and we have discovered a new mineralized structure where the mineralisation clearly follows a traceable feature in the geophysical data.
“Geophysical evidence also suggests the Samagouela shear zone could extend to the Ourourou prospect, a distance of eight kilometres,” he said.
The results from this drill program will be used to identify high-priority targets for a separate campaign anticipated in October this year.
Compass Gold (CVB) is currently up 7.41 per cent and is trading at C$0.29 per share at 10:41am EDT.
