Compass Points Way Higher

Great finds are to be discovered on what was once called “The Dark Continent” of Africa, and Toronto-based Compass Gold Corp. (TSX-Venture: CVB) was bright as day Tuesday. The company enthusiastically told its investors of the progress of the exploration drilling on the Ouassada exploration permit on its Sikasso Property in Southern Mali.

Three new reverse circulation drill holes totaling 406 metres (m) were completed on an area known as Farabakoura. Moreover, gold mineralization was identified in all three holes. CVB went on to point out the best intercept was 13 m @ 3.40 grams per tonne (g/t) gold within a broad zone of gold mineralization of consisting of 60 m @ 1.42 g/t Au.

Compass CEO Larry Phillips, said, “I am excited to report that our most recent drilling at the Farabakoura artisanal gold workings has revealed a broad mineralized zone containing two distinct zones in the northwest and three more along the targeted mineralized trend to the southeast.

“As a result, we are planning more drilling to help determine the extents of continuity and additional strike length of the system. Further, our current field geophysics program on the Ouassada permit will help refine our bedrock drilling targets.”

The stock price perked, for sure, climbing four cents, or 30.8%, to approach noon ET Tuesday at 17 cents, on volume topping 503,000 shares.