Compass Gold Corp. (TSXV: CVB) (Compass or the Company) reports that it has launched its previously announced follow-up drilling program on the Tarabala Trend, which consists of reverse circulation drilling at the Tarabala artisanal workings on its Sikasso Property in Southern Mali.

Highlights

An 800-m reverse circulation (RC) drilling program has begun on the Tarabala prospect

The drilling is focused on tracing the down-dip extension of wide zones of shallow gold mineralization identified through earlier Air Core (AC), RC and diamond drilling.

Assaying will include cyanide extraction and metallic screen fire assay to accurately determine the extent of nuggety gold previously noted on the Tarabala Trend

Compass CEO, Larry Phillips, commented, 'This latest drill program is intended to determine the down-dip extension and width of some of the gold mineralization we've already found at the Tarabala prospect. The different assay methods will also give us critical information on the degree of coarse gold over the 450 m strike length being tested, and will show us which assay method gives the most accurate results in these conditions. Drilling is expected to take one week, and we will report the complete results as soon as they are available.'

Results from Previous Drilling and Sampling

Air Core (AC) drilling on the Tarabala Trend first identified bedrock gold at the Tarabala prospect in April 2020. Subsequent drilling identified shallow gold mineralization at Massala West. This confirmed the presence of a 4-km-long mineralized zone between Tarabala and Massala West. To date, a total of 106 AC holes (4,972 m), 5 RC holes (530 m), and 5 diamond holes (563.6 m) have been drilled at Tarabala over a distance of 1.5 km. An additional 102 AC holes (6,047 m) and 11 RC holes (1,056 m) have been completed at Massala West over 3 km. The deepest drilling has only tested the mineralized zone to a depth of 80 m from surface.

AC results at Tarabala included wide intervals of up to 16 m @ 1.51 g/t Au (from 16 m; SAAC02) and 17 m @ 0.73 g/t Au (from 18 m; SAAC109), and included higher grade sub-intervals such as 4 m @ 5.20 g/t Au (from 26 m; SAAC02) and 1 m @ 12.99 g/t Au (from 33 m; SAAC36). Follow-up RC drilling at Tarabala indicated that the mineralization continued at depth, but it was not tested deeper than 60 m. The widest intercepts from the RC driller were 26 m @ 0.47 g/t Au (from 45 m; SARC001) and 25 m @ 0.58 g/t Au (from 67 m; SARC003). The best mineralization was identified in a 1-km-section of the 2.2 km-long mineralized Tarabala Fault.

Two kilometers further north, AC drilling identified two discrete mineralized zones greater than 550 m at Massala West. The northernmost zone contained the widest mineralized interval and the highest grade. Drill hole SAAC123 contained 24 m @ 2.35 g/t Au (from 18 m), which included 1 m @ 26.80 g/t Au (from 35 m). RC drilling in the two zones identified several mineralized intervals including the widest zone of 6 m @ 1.02 g/t Au (from 43 m; SARC010).

A resampling program of historic Compass RC chips indicated that coarse-grained ('nuggety') gold was likely present at Tarabala. The nugget effect was evidenced by the presence of higher grade mineralized intervals, e.g., 7 m at 14.13 g/t Au (inc. 1 m @ 97.34 g/t Au), compared to an earlier result of 0.42 g/t Au, and previously barren intervals containing gold, e.g., 1 m @ 0.92 g/t Au, compared to 0.01 g/t Au. The latest drilling will specifically address the nugget effect by employing two assay techniques.

About Compass Gold Corp.

Compass, a public company having been incorporated into Ontario, is a Tier 2 issuer on the TSX- V. 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 three sites in southern Mali with a combined land holding of 867 sq. km. The Sikasso Property is located in the same region as several multi-million-ounce gold projects, including Morila, Syama, Kalana and Komana. The Company's Mali-based technical team, led in the field by Dr. Madani Diallo and under the supervision of Dr. Sandy Archibald, P.Geo, is conducting the current exploration program. They are examining numerous anomalies first noted in Dr. Archibald's August 2017 'National Instrument 43-101 Technical Report on the Sikasso Property, Southern Mali.'

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

(C) 2023 Electronic News Publishing, source ENP Newswire