Company AnnouncementWildcat drill hole confirms exploration...

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.