370m Extensive Gold Mineralised Zone from Surface
Perth, Feb 12, 2016 AEST (ABN Newswire) - Cardinal Resources Limited (
ASX:CDV) ("Cardinal" or "the Company") is pleased to announce results of the diamond drill hole, NMDD422-736, completed on the Namdini Project ("Namdini").
HIGHLIGHTS
Higher grade intersections include:
- 15.4m @ 4.02 g/t
- 18.1m @ 2.87 g/t
- 5.5m @ 4.4 g/t
This diamond drill hole continues to confirm that the gold mineralisation occurs within the hydrothermally altered volcaniclastics and monzonite granitoids with relatively consistent grades throughout.
These new results clearly demonstrate the potential of the extensive gold mineralisation previously reported at the Namdini Project.
Namdini Geology
The Namdini Project is located within a Paleo-Proterozoic Greenstone Belt comprising Birimian metavolcanics, volcaniclastics and 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 monzonite granitoid intrusive is 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 the gold mineralisation is bounded on both east and west sides by foliated metasediments of varying compositions, also dipping 60degW and striking 010deg.
The unaltered quartz diorites contain primary pyrite sulphides and are mostly unmineralised.
The altered volcaniclastics contain finely disseminated mineralised sulphides and are recognised by their light to medium green colours (Figures 4 and 5 in link below).
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, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CDV-752544.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.
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