Company Announcement Wildcat drill hole confirms exploration concept for Compass’ Western NSW Projects Exploration Results The Cuttaburra and Yancannia Exploration Licenses (Compass 80% Bohuon Resources Pty Ltd 20%) were acquired to test a concept that a new base or precious metal mineral district may exist in this remote part of Western NSW. The region is almost entirely covered by Cretaceous to recent sediments with the potentially prospective Lower Palaeozoic basement sequence occurring at unknown depth beneath the cover. This is the principal reason that the area has never previously been explored. The conceptual model applied by Compass interprets airborne magnetic trends, identified from regional geophysical data, as basement features related to strata bound sulphide horizons, possibly with elevated base metals, and occurring at a shallow enough depth to allow effective exploration. As in other parts of the world including, the Cobar Basin, large base and precious metal deposits may be present along these trends associated with discrete magnetic anomalies. Following geophysical modelling 9 discrete airborne anomalies were selected for initial follow up work, and were located in the field by geophysical surveys. A single wildcat hole was drilled into each of 2 widely separated anomalies (see map). Both holes confirmed our exploration concept that the magnetic data reflected basement features within effective exploration range. The holes intersected a stratigraphic sequence similar to the Cobar Basin sequence at a depth of approximately 75 metres beneath the cover rocks. Encouragingly both holes intersected pyrite and or pyrrhotite mineralisation the latter being the source of the magnetic anomaly tested in the Cuttaburra Exploration Licenses. Assay results are now available for the Cuttaburra hole CBRCD01 and include significant and strongly anomalous values for a wildcat hole with up to 0.11% copper, 0.18% zinc, 0.41% tungsten and 40 g/t silver.
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