Compass Gold Reports Additional Exploration Results on Yanfolila Property Suggesting Strong Gold Mineralization
25 Juni 2012 - 3:16AM
PR Newswire (Canada)
-- Fire assay results for an additional five deep-inclined
diamond-drill holes over an initial 350m strike length, show gold
mineralization in three holes, including: SD52: 15.65m @ 2.01 g/t
between 0.00m and 15.65m SD57: 26.50m @ 3.59 g/t between 5.40m and
31.90m, including 18.00m @ 5.16 g/t between 13.90m and 31.90m --
Results continue to support existence of strong gold mineralization
at the Solona target, as suggested by previous drilling -- Results
from the remaining 18 holes of the 30-hole program are pending
VANCOUVER, June 27, 2012 /CNW/ - Compass Gold Corporation ,
which is focused on gold exploration on four properties in Mali,
Africa's third largest gold producer, today announced further gold
assay results from its 30-hole, 5,000m, diamond-drill exploration
program at the Solona target, Yanfolila property in Southern Mali.
The results received on a further five holes continue to support
previous indications of strong gold mineralization at the Solona
target. In March 2012, Compass commenced a 3,000m diamond drill
program to test mineralization from surface to a depth of 100m. As
a result of positive initial results, Compass extended this program
to 5,000m. The company has completed drilling 30 holes for a total
of 3,594m. Compass has received assay results for 12 holes, with
the results for the first seven holes previously disclosed on May
23 and June 12, 2012. Of these seven holes, six encountered gold
mineralization from near surface to 78m inclined along the hole
(~65m vertical depth). The fire assay results now received for a
further five holes (SD52, SD55, SD57, SD58, and SD59) show gold
mineralization from surface on three of them to a vertical depth of
28m (32m inclined). Details of the mineralized interceptions are
set out below. True width is unknown for all intercepts.
_________________________________________________________ | | Drill
|From| To |Interval|Au (g/t)|Total Core| | |hole ID|(m) | (m) | (m)
| |Recovery %|
|_________|_______|____|_____|________|________|__________| | |
SD52 | 0 |15.65| 15.65 | 2.01 | 48 |
|_________|_______|____|_____|________|________|__________| | |
SD55 |10.5|18.00| 7.50 | 1.16 | 93 |
|_________|_______|____|_____|________|________|__________| | |
SD57 |5.4 |31.9 | 26.50 | 3.59 | 52 |
|_________|_______|____|_____|________|________|__________|
|Including| SD57 |13.9|31.9 | 18.00 | 5.15 | 38 |
|_________|_______|____|_____|________|________|__________| The
locations and orientations of the drill holes are shown in the map
below. http://files.newswire.ca/1069/CompassGoldCorpmap.pdf Compass
will release the results of the remaining drill holes as they
become available. "The results from our drilling program continue
to meet or exceed our expectations with respect to showing strong
gold mineralization. During the rainy season break this summer, we
will be receiving and analyzing further results from the completed
drilling as well as other data that we will use to plan for more
extensive exploration that we expect to begin late in the third
quarter of this year. We also are continuing to work towards
defining a National Instrument 43-101-compliant inferred resource
on the Solona target," said James Henderson, Compass' President and
Chief Executive Officer. Yanfolila Sampling Protocols The current
diamond-drill program at the Solona target, Yanfolila permit is
being carried out by ULC (Uranium Logging and Consulting), using a
LONGYYEAR DB 525 wire-line diamond-core drill rig and HQ-size rods.
All holes are started and finished in saprolitic or weathered
materials in headquarters. Each core is split using a stainless
steel knife (as the core is mainly clay material). One half of the
core is kept in the core box and stored in a covered and secure
core shed. Core samples are collected in plastic bags, numbered
outside, and a tag is placed inside the bag. All samples are taken
from site by Africa Mining personnel and delivered to the ALS
laboratory, Bamako, Mali, under secure ''chain-of-custody''
procedures. Samples are fine-crushed to 70% 2mm, pulverized, and
split to 85 % 75 um. Gold is assayed by fire assay (50g charge)
with FA AA Finish. Sample pulp is returned from the ALS laboratory
under secure ''chain-of-custody'' procedure by Africa Mining staff
and also stored in a secure location. Qualified Person Malcolm A
Carson, BSc Geo, MSc Nat Res. Mgt., MAIG is the "qualified person"
within the meaning of National Instrument 43-101, that has reviewed
and approved the scientific and technical information contained in
this news release, including verification of sampling procedures,
the assaying procedures of ALS Laboratory, and "chain-of-custody"
procedures. About Compass Gold Compass Gold Corporation, a Tier 2
mining issuer listed on the TSX Venture Exchange, is focused on
gold exploration in Mali, Africa's third largest producer of gold.
Compass, through its wholly owned subsidiary, Africa Mining SARL,
owns a 100% interest in four gold exploration permits (Yanfolila,
Dandoko, Kolondieba, and Solabougouda) as well as holding
applications over a further four areas, Mousala, Sirakourou,
Yanfolila East, and Kolondieba Nord) covering an aggregate of 1,138
sq kms in key gold-producing regions in south west Mali, West
Africa. Further information is available at
www.compassoldcorp.com. Forward-Looking Information This news
release includes "forward-looking statements" including forecasts,
estimates, expectations, and objectives for future operations that
are subject to a number of assumptions, risks, and uncertainties,
many of which are beyond the control of Compass Gold Corporation.
Statements regarding expectations and interpretation of drilling
results at Yanfolila's Solona target being associated with gold
mineralization and defining a NI43-101-compliant gold resource are
subject to all of the risks and uncertainties normally incident
with undertaking mineral exploration in Africa, including
technical, operational, and environmental risks associated with
gold exploration, including, but not limited to, successfully
identifying and drilling gold mineralization, completion of final
assaying of all drill holes, and the accuracy of the technical
evaluation of such results which cannot be relied upon until final
verified independent results are reviewed by Compass. Investors are
cautioned that any such statements are not guarantees of future
performance and those actual results or developments may differ
materially from those projected in the forward-looking statements.
Such forward-looking information represents management's best
judgment based on information currently available. No
forward-looking statement can be guaranteed and actual future
results may vary materially. Risks and uncertainties about Compass
Gold's business are more fully discussed in the company's
disclosure materials, including its MD&A, filed with the
securities regulatory authorities in Canada and available at
www.sedar.com and readers are urged to read these materials.
Compass Gold Corporation does not assume the obligation to update
any forward-looking statement, except as required by applicable
law. Neither the TSX Venture Exchange nor its regulation services
provider accepts responsibility for the adequacy or accuracy of
this news release. COMPASS GOLD CORPORATION "James Henderson" James
Henderson, President SOURCE Compass Gold Corporation PDF
available at:
http://stream1.newswire.ca/media/2012/06/27/20120627_C4493_DOC_EN_15776.pdf
Compass Gold Corporation CONTACT: James HendersonPresident and
Chief Executive OfficerCompass Gold CorporationEmail:
info@compassgoldcorp.comwww.compassgoldcorp.com+1 (604)
638-8067Investor and Media RelationsRichard W. WertheimWertheim +
Company Inc.Email: wertheim@wertheim.ca+1 (416) 594-1600+1 (416)
518-8479 (cell)
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