Nangali Gold Project

Peru is now one of the pre-eminent gold producing countries in the world and the site of several large new mine developments including the world's largest operating gold mine at Yanacocha.

Compass 70% (in conjunction with Indo Mines Ltd 30%) completed the purchase of the Nangali Gold project from Newmont in 2006, subject only to an ongoing Production Royalty of 1.5%.

The target at Nangali is a high grade low sulphidation epithermal gold vein system defined by outcropping quartz veins, high grade silver and gold values and anomalous geophysical responses.

To date no drilling has been undertaken however several drill targets have been identified by Newmont.

Following the election of President Garcia in 2006, Compass believes the anti mining feeling amongst some residents in the region will subside and we are planning to commence preliminary field work with a view to drilling this target in 2007.