Maiden Diamond Drill Hole Completed at Namdini Project
Perth, Nov 25, 2015 AEST (ABN Newswire) - Cardinal Resources Limited (
ASX:CDV) ("Cardinal" or "the Company") is pleased to announce that the maiden diamond drill hole has been completed on the Namdini Project ("Namdini"), (Figure 1, see link below).
Highlights:
- Maiden diamond drill hole of 362.50m completed at Namdini Project
- 231m of sulphide-bearing volcaniclastic rock unit down hole from 13m
- 64m of sulphide bearing quartz diorite rock unit down hole from 244m
- Laboratory assay results expected within two weeks
Commenting on today's results, Managing Director Archie Koimtsidis said:
"This diamond drill hole predominantly contains volcaniclastics with only minor intersections of granitoids. The volcaniclastics occur from 13m to 244m down the hole, a length of 231m (see Appendix 1 summary, in link below).
"The volcaniclastics have generally contained higher gold grades than the granitoids within the Namdini Project.
"Sulphide-bearing diorites were intersected at a down hole depth of 244m and these diorites visually contain a greater amount of sulphides than previously observed within the granitoids. This may represent an aditional mineralised zone of up to 64m from 244m down hole to 308m.
"We look forward to reporting the laboratory assay results which are expected within two weeks."
The four completed RC drill holes adjacent to drill hole NMDD462-754 only tested the near surface geology compared to the deep diamond drill hole (Figure 4, see link below). Further diamond drill holes are planned to assess the gold potential at deeper levels within the Namdini Project.
Namdini Project Geology
The Namdini Project is located within a Paleoproterozoic Greenstone Belt comprising Birimian metavolcanics, volcaniclastics & metasediments located in close proximity to a major 30 km ~N-S regional shear zone with splays (Figure 1). These rock units are intruded by felsic monzonite granitoids and quartz diorites.
The gold mineralisation is developed within foliated, sheared and highly altered rocks containing sulphides (pyrite and arsenopyrite). The host rocks dip approximately 60DEG W and strike 010DEG. Hydrothermal alteration is comprised of silica, iron carbonate (ankerite), sericite, epidote and chlorite. The highly altered rocks contain disseminated gold-bearing sulphides and are distinguished from the grey, unaltered, unmineralised host rocks by characteristic pale to medium green colours.
The felsic intrusives are considered to have been the "heat engine" which remobilised gold bearing sulphide rich fluids which altered the host rocks and precipitated the gold mineralisation within them.
The NNE-SSW trending corridor containing gold mineralisation is bounded on both east and west sides by foliated metasediments of varying compositions, also dipping 60DEGW and striking 010DEG.
Diamond Drill Hole NMDD462-754
The drill rig was aligned at -65DEG dip drilling east which allows for the shallowing of the drill hole with depth. The azimuth was set at 095DEG instead of 100DEG (normal to the strike of the formations) as the borehole trace usually deflects to the right with depth due to the clockwise rotation of the drill rods (see Appendix 1 for survey data, in link below).
The soft near surface material was drilled with a Triple Tube core barrel to reduce core losses. Once harder rock was encountered, then HW steel casing was inserted for stability of the hole. Thereafter HQ size core was drilled.
The hole was surveyed near the top of the drill hole, then every 30m down the hole to determine the dip and azimuth of the drill hole with depth. The core was orientated each drill run using a digital instrument. The core was marked showing the base of the drill hole, then the core from each drill run was laid in a length of angle iron to fit the core together so that the orientation line could be drawn along the length of the core. Geotechnical parameters were measured using this orientation line as the datum line.
The core was photographed then cut in half; one half was consistently sampled, with the remaining half stored in metal core trays & placed on metal racks under cover in Cardinals secure core shed located in Bolgatanga.
The RC drill holes drilled either side of the diamond drill hole show similar lithologies and compare favourably with the diamond drill hole (Figure 3, in link below). The volcaniclastics and granitoids intersected in the four RC drill holes all contained gold mineralisation (Figure 5 and Figure 6, in link below).
The quartz diorites intersected from 244m down hole contain significant pyrite sulphides over 64m of this intrusive. If the intrusive is mineralised, the gold potential of the Namdini Project could be enlarged.
Laboratory assay results for the diamond drill hole NMDD462-754 are expected within two weeks.
MONITORING OF DRILLING PROGRAMS
Cardinal's technical and management team evaluates all of the available data on a daily basis with the main focus being the expansion of the gold potential for the expanded licence areas.
Cardinal is the owner and operator of its own drill rig and has established an express assaying service with its drilling results, enabling the Company to continuously improve its drill plan strategy as new information becomes available.
The Company will continue drilling selective holes, submitting the samples and be on standby as results are received. Once the results have been assessed, Cardinal can plan further drill holes to maximise expansion of the gold inventory within the Namdini Project.
To view figures and appendix, please visit:
http://media.abnnewswire.net/media/en/docs/81650-ASX-CDV-743278.pdf
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.
| ||
|
