Highlights
Drilling at the Tarabala prospect to test 450 m of a 1,000 m zone intercepted higher-grade mineralized areas within wide zones of low-grade mineralization
Best interval: 13 m at 3.30 g/t Au (from 84 m), including 8 m @ 4.95 g/t Au (from 84 m)
Highest-grade interval: 1 m @ 18.90 m (from 86 m) Widest interval of low-grade mineralization was 19 m at 0.84 g/t Au (from 170 m)
Mineralization remains open at depth
The Company is considering a metallurgical sample test program of high-grade, near-surface gold mineralization
Compass CEO,
Meanwhile, we are awaiting the results of the metallic screen fire assaying to determine if coarse-grained, nuggety gold is present in the samples. If it is, then it is likely that previously reported grades from drilling along the 14 km Tarabala trend were under-reported, which would indicate a huge potential for future resource estimations along several zones of that trend.'
Dr.
Also, during my recent site visit, I was impressed to find that the number of artisanal workings at Tarabala has increased sharply since we last drilled there in
Next Steps
Based on the recent drilling, the Company now believes that gold mineralization is open at depth and continues to the south of the main workings. Additional drilling is required along the full 800 m length of the target zone structure to enable the Company to perform an initial resource estimation. Preliminary studies suggest that this program will require 3,200 m of air core (AC) and reverse circulation (RC) drilling. A budget for this work will be prepared in order to determine what additional funding would be required.
The Company will also develop a plan for deep trenching and pitting at Tarabala to determine the quantities of near-surface gold mineralization that can be recovered from the laterite. This would involve five 100-m trenches excavated to a depth of 5 m, and the collection and analysis of (2400) 1 m channel samples. A series of 5 m deep pits would be dug every 20 m between the trenches and the channels would be sampled for gold. Metallurgical testing would be performed to determine the gold recovery.
The holes were completed over the 450 m strike length of previously drill-tested shallow mineralization to test the grade and continuity at a depth of a 1,000-m panel of the best gold mineralization. Gold mineralization was present in all drill holes and was associated with narrow quartz veins associated with the highly sheared, graphite-rich, Tarabala fault. Wide zones of mineralization greater than 10 m were recorded in five holes: 19 m @ 0.84 g/t Au (from 170 m, SARC022), 13 m @ 3.30 g/t Au (from 84 m, SARC019), 11 m @ 0.46 g/t Au (from 125 m, SARC020), 10 m @ 0.49 g/t Au (from 140 m, SARC017), and 10 m @ 0.42 g/t Au (from 101 m, SARC018). Individual intervals within these mineralized intervals are narrower with higher gold grades. For example, SARC019 had a mineralized interval of 8 m @ 4.95 g/t Au (from 84 m), and SARC004 contained an interval of 3 m @ 1.63 g/t Au (from 186 m). No significant mineralized intervals were encountered in SARC021.
SARC022 was the most southerly hole drilled and contained the widest mineralized zone, 19 m @ 0.84 g/t Au (from 170 m). This zone correlated well with previous shallower mineralization, i.e., SAAC080 (7 m @ 0.43 g/t Au, from 37 m; 3 m @ 5.13 g/t Au, from 47 m), SARC005 (13 m @ 0.79 g/t Au, from 84 m), and SADD004 (17 m @ 0.96 g/t Au, from 101 m), and clearly showed that the structure remains open at depth. Drilling occurred beneath an iron-rich crust ('cuirass') where only small amounts of artisanal mining had been performed. However, where the cuirass has been naturally eroded 50 m to the south of SARC022, an extensive series of deep artisanal workings are currently being excavated, showing the workings are present over a distance of 1,000 m, which correlates well with Compass' drilling results.
About
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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.
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