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Compass points to 'spectacular' results in Mali

Mali-focused explorer Compass Gold (TSXV: CVB) has reported hitting “spectacular” high-grade gold in bedrock at the Farabakoura artisanal workings on the Ouassada permit at its Sikasso property.
Compass points to 'spectacular' results in Mali Compass points to 'spectacular' results in Mali Compass points to 'spectacular' results in Mali Compass points to 'spectacular' results in Mali Compass points to 'spectacular' results in Mali

Compass is planning further drilling at its Sikasso property in Mali next quarter

Staff reporter

Among the highlights, Compass intercepted 6.1m at 65.6g/t gold from 19.5m and 13m at 9.25g/t from 21.1m.

It said all seven diamond drill holes had intersected significant gold mineralisation within a 200m section of the 750m long Farabakoura high-grade zone.

CEO Larry Phillips described the results as spectacular and said the season's work had revealed "new structures with significant potential" Compass planned to start drilling next quarter, once the rainy season ended.

The company had C$2.2 million (US$1.7 million) in cash at June 30.

It had raised $2.7 million (US$2 million) at 30c per share in April.

Compass shares hit a 52-week high of 71c in March on reporting "exceptional" results from the first diamond drill hole at Farabakoura, including 4m at 83.82g/t.

They last traded at 31.5c, up 12.5% year-to-date, and the company is capitalised at $12.2 million (US$9.3 million).