- Compass Gold Corporation (CVB) provided an update on the recently completed deep bedrock drilling on four prospects on the new Moribala permit
- Initial deep drilling (10-holes) representing 833 metres on four prospects across the Moribala permit confirmed the presence of deeper gold mineralization at two of the prospects associated with the Moribala fault at Dakoun
- The best intercept was 7 metres at 2.85 g/t Au, including 6 metres at 3.29 g/t Au
- Compass Gold Corporation (CVB) is trading steady at $0.08 per share as of 10:15 a.m. ET
Compass Gold Corporation (CVB) provided an update on the recently completed deep bedrock drilling on four prospects on the new Moribala permit.
Initial deep drilling, which was 10-holes, representing 833 metres on four prospects across the Moribala permit confirmed the presence of deeper gold mineralization at two of the prospects associated with the Moribala fault at Dakoun.
The best intercept was 7 metres at 2.85 g/t Au, including 6 metres at 3.29 g/t Au.
Dakoun mineralization was traced 220 metres along strike within the main fault zone and remains open downdip and over a distance of 3 km to the northeast.
Additional assaying suggests the presence of coarse gold associated with quartz veins in previously unidentified zones at Dakoun and Dafaraba.
Resampling program is underway to determine the full extent of the “nugget” effect at Moribala and along strike at Tarabala and Massala West.
The 10 reverse circulation holes were drilled in late June had been previously drilled by air core drilling.
Compass Gold’s President and CEO, Larry Phillips stated that the latest reverse circulation drilling at Moribala has identified wider and higher-grade gold mineralization at Dakoun compared with the earlier air core drilling and increased the previously reported strike extension of the mineralization at Dafaraba.
“Because our initial drilling results were clearly at odds with the abundant artisanal gold workings, we’ve reprocessed and re-assayed our RC chips. The results of this work revealed that, due to the coarse grain size of the gold and the small sample size assay, much of the gold went undetected.”
Compass Gold Corp is a mineral exploration company. It is engaged in the acquisition, exploration, and development of mineral resource properties in Mali. Its project includes Mali gold and Sikasso Property.
Compass Gold Corporation (CVB) is trading steady at $0.08 per share as of 10:15 a.m. ET.
