TSX-V:CVB Volume : 0 Change : 0.00 Last : 0.095 Day High : N/A Day Lo: N/A Date : 2/2/2012
Properties
Map 1: "Location of Compass Gold Properties in Mali"
Click here to view enlarged version
Compass Gold holds a 100% shareholding in Africa Mining. The key assets of Africa Mining comprise five exploration permits: Yanfolila, Kolondieba, Dandoko, Solabougouda and one authorisation to explore (ATE): Moussala.
The map above shows the relative position of the licenses. Dandoko is located in Western Mali, in the so-called "Kenieba-Koudougo Birrimian window". Yanfolila, Kolondieba and Solabougouda licenses are located in Southern Mali. All 5 licenses are on strike with World class gold deposits.
Work completed on the Yanfolila license has identified 12 gold anomalies and a 5,400m scout drilling program commenced at the "Solona" target in March 2011.
Initial results from the drilling program have shown mineralization in 10 out of the first 23 holes. Drilling has been interrupted due to the wet season, and has now recommence, to complete an additional 7 holes.
A 5,000m diamond drilling program is due to commence in February 2012.
Two gold anomalies, Disse and Bembala, have been identified on the Dandoko license as targets in May 2011. These targets are drill-ready.
A 3,600m RC drill program will commence in late December 2011.
The results of Phase 1 and Phase 2 exploration programs exceeded expectations.
Yanfolila is considered a principal property of Africa Mining and a 43-101 compliant report dated September 21, 2011 has been completed on this property ("Yanfolila 43-101 Report").
The 43-101 Report was prepared Richard Parker (MIMMM, FGS, C.Eng.) and Dr. Albert Wilkinson (MIMMM, FGS, C.Geol) from New Resources Management Services Ltd. A full copy of the report can be found here.
A 43-101 Report was also completed in respect of Dandoko.This report is dated September 21, 2011 and prepared by Richard Parker (MIMMM, C.Eng.) from New Resource Management Services Ltd. ("Dandoko 43-101 Report"). A full copy of the report can be found here
A geochemical sampling and mapping is program underway on Kolondieba and Solabougouda permits.
A Africa Mining has applied to convert Moussala permit from an "Authorization to Explore", to a full "Exploration Research Permit"