Quarterly Activities and Cashflow Report
- 23 infill and step out diamond drill holes completed at Namdini
- 3 RC drill holes with diamond tails completed at Namdini
- 33 RC infill and sterilisation drill holes completed at Namdini
- Auger soil surveys completed at Namdini, Kungongo, Ndongo North and Bongo with results being processed
- Capital raising completed
SUBSEQUENT TO QUARTER END
- Effective from July 10, 2017 Cardinal obtained a secondary listing in Canada on the TSX
- In July, 2017 the Namdini Gold Project Mining Licence directions were finalised to assign the licence to the Company
- On July 11, 2017 Dr Robert Schafer was appointed to the Board and Mr Derrick Weyrauch was appointed as Chief Financial Officer
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About Cardinal Resources Ltd
The Company's Namdini Project has an Indicated Mineral Resource of 6.5Moz of gold contained in 180Mt at 1.1 g/t Au at a cut-off of 0.5g/t Au and an Inferred Mineral Resource of 0.5Moz of gold contained in 13Mt @ 1.2 g/t Au at a cut off of 0.5 g/t Au.
The Company is focused on the development of the Namdini Project through advancing the Pre-Feasiblity study, supported by additional multi-disciplinary engineering activities.
Exploration programmes are also continuing at the Company's Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.
Cardinal Resources Ltd