TSX-V:CVB Volume : 46000 Change : +0.005 Last : 0.105 Day High : 0.105 Day Lo: 0.105 Date : 2/22/2012
Yanfolila
Yanfolila 43-101 Report - September 2011
Map 1: "Yanfolila location in Mali"
Click here to view enlarged version
The Yanfolila permit is located in the Kalana-Kodieran Gold Province in South Mali and covers an area of 250km2. It is located in a similar geological setting as the 1m oz Kalana mine (Avnel Gold) located 40 km south of the Yanfolila permit.
Map 2: "Yanfolila is part of a very prospective
gold belt which hosts significant anomalies"
Click here to view enlarged version
It is also located immediately east of permits owned by Goldfields, which were acquired by Goldfields in 2009 for $45m and which Goldfields continues to aggressively explore.
Details of the exploration work undertaken on the Yanfolila permit are disclosed in the news releases of the Company. These works included:
- Regional and semi-regional exploration focused on the Solona target in the north of the permit.
- Geological mapping at 1:5000 scale of six priority anomalies within the Yanfolila permit covering a total area of 11.5 sq. km as follows:
|
Zone |
Size (m) |
|
Solona anomaly |
2200 x 700 |
|
Solona south east anomaly |
1600 x 1000 |
|
Solona north anomaly |
4000 x 600 |
|
Yanfolila anomaly |
2000 X 600 |
|
Guendibi anomaly |
3000 X 1500 |
|
Yanfolila East Anomaly C |
4000 X 2200 |
Initial results identified 12 gold anomalies – see diagram below:
Recent work identifed 3 additional sub parallel shear zones have been defined in the Yanfolila East area.
Yanfolila Scout Drill Program - Solona Target
Drilling at the Solona target commenced in May 2011. This comprised a 30 diamond drill hole program (for a total of approximately 1,500m) designed to test for free digging gold mineralization in weathered, saprolithic material.
23 vertical holes have been completed, and the remaining 7 holes are being drilled.
Results have been received for the first 10 holes submitted to ALS. 10 holes show gold mineralization with the best intersections being:
- SD2: 13m @ 1.59 g/t at a depth between 34m and 47m
- SD5: 11m @ 2.05 g/t at a depth between 22m and 33m
- SD6: 2m @ 2.44 g/t at a depth between 10 and 12mm
- SD8: 7m @ 1.05 g/t at a depth between 16m and 23m
- SD13: 18m @ 1.31 g/t at a depth between 0m and 18m
- SD16: 8m @ 1.21 g/t at a depth between 19m and 28m
- SD17: 3m @ 0.52 g/t at a depth between 32m and 35m
A table showing mineralized intersections is set out below.
|
|
Drill |
From |
To |
Interval |
Au (g/t) |
Core |
|
|
SD2 |
34 |
47 |
13 |
1.59 |
59 |
|
|
SD4 |
3 |
5 |
2 |
1.16 |
71 |
|
|
SD5 |
0 |
44 |
44 |
0.68 |
58 |
|
including |
SD5 |
22 |
33 |
11 |
2.05 |
65 |
|
including |
SD5 |
35 |
38 |
3 |
1.05 |
62 |
|
|
SD6 |
10 |
44 |
34 |
0.44 |
77 |
|
including |
SD6 |
10 |
12 |
2 |
2.44 |
88 |
|
including |
SD6 |
25 |
28 |
3 |
1.23 |
91 |
|
|
SD7 |
5 |
7 |
2 |
0.89 |
94 |
|
|
SD8 |
13 |
23 |
10 |
0.94 |
69 |
|
including |
SD8 |
16 |
23 |
7 |
1.05 |
71 |
|
|
SD10 |
15 |
17 |
2 |
0.53 |
67 |
|
|
SD10 |
39 |
41 |
2 |
0.51 |
76 |
|
SD13 |
0 |
18 |
18 |
1.31 |
79 |
including |
SD13 |
7 |
13 |
6 |
2.35 |
77 |
|
SD16 |
3 |
6 |
3 |
0.57 |
79 |
|
SD16 |
19 |
28 |
8 |
1.21 |
81 |
|
SD17 |
32 |
35 |
3 |
0.52 |
80 |
A preliminary interpretation shows that the best 3 holes are aligned and are located in the middle of the targeted area as shown on the map below.
Map 3: "Map of Solona and drill locations"
Click here to view enlarged version
Map of Solona target and drill hole locations
These results are in-line with the Company's expectations on the prospectivity of the Solona Target and the Yanfolila region in general. Subject to the results of the remainder of the drill program, the Company will seek to expand the program to continue testing for both near surface and deep mineralization.
The balance of the drill program (10 holes) will be completed after the wet season, with drilling expected to re-commence in October 2011.
2012 Drill Program
Following the completion of the scout drill program in February 2012, a larger program in Februrary 2012, a larger diamond drill rig will commence core drilling initially on the Solona and then the Yanfolila target.
Initial core drilling on the Solona target will be comprised of a 3,000m, 20 hole program testing the identified gold mineralization over a 1 km strike length on drill fences 100m apart. Drilling is scheduled for completion in April 2012.
This drilling program is expected to more closely define the dimensions of the gold mineralization at Solona. Further diamond and reverse circulation (RC) drilling programs will be undertaken later in 2012 with the aim of defining a National Instrument 43-101 ("NI 43-101") compliant inferred mineral resource early in 2013.
Following the completion of this initial 3,000m drill program, the diamond drill rig will move to the Yanfolila East target to undertake a 16 hole, 2,000m drilling program targeting mineralization over a strike length of 1.6km on drill fences 200m apart. It is expected that this drilling will be completed by July 2012.
Aeromagnetic Survey
High-resolution airborne magnetic and radiometric survey completed at 200m spacing between the line with a tighter, 50m spacing, over the Solona and Yanfolila East targets. Preliminary results have been released and these results have confirmed the identified soil geochemical anomalies in the three key target areas of Solona, Yanfolila East and Guendibi. The map below highlights this:
FIGURE: 1 Yanfolila total magnetic intensity Image highlighting key Targets
Click here to view enlarged version
The Yanfolila permit is due for renewal in July 2011 and 50% of this permit must be surrendered in accordance with the terms of the permit and Malian Law. The identified priority targets in the Yanfolila permits will be retained by Africa Mining. Compass will apply for new permits covering the relinquished areas in order to maintain the current landholding. There are no assurances that the new permits applied for will be granted to Compass by the applicable governmental authorities.