Cardinal Resources Limited (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) ("Cardinal" or "the Company"), an African gold focused exploration company, is pleased to present to shareholders its Quarterly Activities report for the period ended 30 June 2018. Currently Cardinal holds four tenements within the Bolgatanga Project, with Subranum comprised of a single tenement in central Ghana (see Figure 1 in link below).

HIGHLIGHTS

- On April 4, 2018 the Company advised that first pass regional exploration drilling was underway. Recent RC drilling results on the Kungongo Prospect were announced which focused primarily on shallow auger soil gold anomalies and ground magnetics targets. Drilling confirmed a sequence of mixed sediments and mafic volcanics. The initial RC drilling was completed on a series of fences between 400m and 1,600m apart. Hole spacing on lines was at 50m to 100m centres with the drilling covering approximately 3.6km of strike length along the target. Gold intersections returned were encouraging with some significant grades and multiple zones encountered.

- On April 19, 2018 a Technical Report on the Namdini Gold Project was filed on SEDAR where the Company announced an updated Mineral Resource estimate of an Indicated Mineral Resource of 180 Mt grading 1.1 g/t Au for 6.5 Moz Au and an Inferred Mineral Resource of 13 Mt grading 1.2 g/t Au for 0.5 Moz Au, each at a 0.5 g/t Au cut off. The mineralisation remains open along strike and down dip. The NI43-101 Technical Report was authored by MPR Geological Consultants Pty Ltd and has an effective date of March 5, 2018. The Technical Report can be viewed under the Company's issuer profile on SEDAR at www.sedar.com or the Company's website www.cardinalresources.com.au

- On May 28, 2018 the Company announced that encouraging first pass shallow RC drilling gold results were returned from one of the six coincident gold-in-soil and geophysical targets on the Ndongo Licence within the Bolgatanga Project, which is located ~15 km north of the Company's Namdini Gold Project with an Indicated Mineral Resource of 6.5 Moz Au (see Figure 2 in link below). These preliminary results were very positive and confirmed previous historical exploration by Etruscan Resources.

To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/394BK5O9


About Cardinal Resources Ltd

Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) is a West African gold exploration and development Company that holds interests in tenements within Ghana, West Africa.

The Company is focused on the development of the Namdini Project with a gold Ore Reserve of 5.1Moz (0.4 Moz Proved and 4.7 Moz Probable) and a soon to be completed Feasibility Study.

Exploration programmes are also underway at the Company's Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.

Cardinal confirms that it is not aware of any new information or data that materially affects the information included in its announcement of the Ore Reserve of 3 April 2019. All material assumptions and technical parameters underpinning this estimate continue to apply and have not materially changed.

 

Contact

Archie Koimtsidis
CEO / MD
Cardinal Resources Limited
P: +61-8-6558-0573

Alec Rowlands
IR / Corp Dev
Cardinal Resources Limited
P: +1-647-256-1922

Warrick Hazeldine
Cannings Purple
E: whazeldine@canningspurple.com.au
P: +61-417-944-616



Link: Quarterly Activities and Cashflow Report


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