Compass Gold recovers first gold at Massala project

Executive Summary

• Compass Gold reports the initiation of bulk sampling at its Massala small‑mine project, having processed ~100 t of mineralized material with modest recoveries and pending assay results.
• The Malian interministerial committee approved the environmental and social impact study, clearing the path for a formal mining permit that is expected within days.
• SMAT testing facility upgrades now allow efficient processing at 10‑30 t/hr, supporting further bulk sampling up to 1,000 t to confirm grades and recoveries.

Key Details

• Bulk Sampling Authorization: Up to 1,000 t of material will be processed; ~100 t already tested.
• Processing Results: Eight bulk samples (≈100 t) processed; plant operating at 10‑30 t/hr; recovery percentages pending final laboratory assays.
• Facility Upgrade: SMAT testing facility modified and upgraded, located 5 km from the Massala gold zone.
• Environmental Approval: Interministerial committee approved environmental & social impact study on Sept. 3; formal permit to be gazetted shortly, enabling issuance of a Small Mine Permit (SMP).
• Future Outlook: Anticipated improvement in road conditions post‑rainy season will allow larger material shipments for testing; positive results could lead to additional small‑mine permits along the Tarabala trend and elsewhere on the 1,173 km² Sikasso property.
• Strategic Considerations: Company may explore strategic partnerships or joint ventures to accelerate development of additional small mines.

Notable Quotes

“The initiation of our bulk sampling authorization for Massala is one of the final steps in achieving our goal… Positive test results at Massala … could see the granting of additional small mines permits along the Tarabala trend.” – Larry Phillips, CEO, Compass Gold Corp.