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Update on Expanded Small Mine Application and Badogo Permit Transfer
Toronto, Ontario--(Newsfile Corp. - May 5, 2025) - Compass Gold Corp. (TSXV: CVB) (Compass or ...
About this update from Compass Gold Corporation
[{"type":"text","content":"Update on Expanded Small Mine Application and Badogo Permit TransferToronto, Ontario--(Newsfile Corp. - May 5, 2025) - Compass Gold Corp. (TSXV: CVB) (Compass or the Company) is pleased to provide a further update on its plans to produce gold at the Massala prospect located along the 15 km Tarabala Trend, which is contained within the Company's Sikasso Property in southern Mali.HighligthsEnvironmental review process for the Massala small mine permit expanded to allow for the future development of wholly-owned facility.SMAT production facility completes successful first production test. Final upgrades are nearly complete.Comprehensive environmental process, including full stakeholder consultation, completed. Final Small Mine Permit issuance from the Ministry of Mines is pending.Review and priority ranking of Compass exploration permits leads to agreement to transfer Badogo Exploration permit to Mina Sable SARL for total consideration >CDN$1.0 million, (434.7 million CFA).Massala Small Mine PermitAs Compass Gold has previously reported, the Company's Small Mine permit application for Massala, one of the first under the provisions of the new Malian Mining Code for Small Mines (See Compass news release dated August 19, 2024), has been the subject of a rigorous environmental review. The original Environmental Ministry's terms of reference for the development of a mining operation at Massala and Tarabala, combined with a co-production processing arrangement with the nearby SMAT facility (See Compass news release dated October 28, 2024), were expanded to allow for the eventual development of a wholly-owned and operated Compass processing facility within the permit area. Compass's technical team and its Environmental consultants have successfully completed the additional studies and community consultations and are now awaiting final approvals as the last step to receive the Small Mine Permit. By having completed the expanded review process, Compass will effectively have pre-approval for the placement of its own processing facility on the Massala permit area.SMAT Processing Facility ProgressThe Compass technical team has also been working closely with SMAT, the ROMACO Engineering group, and the Company's own consultants on the reopening, testing, and optimizing of the SMAT processing facility where the first gold production at Massala...