Cardinal's CEO/MD, Archie Koimtsidis said:
"The infill results confirm mineralised consistency within the deposit whilst the southern extension drilling demonstrates that the mineralised corridor extends along strike a further 150m to the south.
"Our Maiden Mineral Resource was initially estimated to a depth of 350m and our recently reported down dip step-out holes have confirmed mineralisation down to 600m. All of these extensions will be captured in our Mineral Resource upgrade expected in late Q3 2017.
"We have nine drill rigs on site with the main objective to accelerate the infill and extension drilling programmes which are expected to convert the current Inferred Mineral Resources into higher categories and increase the overall size of the current resource."
Discussion of Results
The Company is encouraged with these early results which show strong continuity of mineralised zones within the defined resource.
Extensional drilling to the south indicate that the Namdini mineralised corridor continues.
Cardinal will explore the continuation of the Namdini shear as mineralisation may extend to the south.
The Company is anticipating a steady stream of drill results to continue from the infill and extensional drilling programs. These results will form the basis for a Mineral Resource upgrade in size and category towards the end of Q3 2017.
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About Cardinal Resources Ltd
The Company’s Namdini Project has a declared Indicated Mineral Resource of 120 Mt @ 1.1 g/t for 4.3 Moz Au and an Inferred Mineral Resource of 84 Mt @ 1.2 g/t for 3.1 Moz (refer to Cardinal “Technical Report on Namdini” dated 11 September 2017). The Company is focused on the development of the Namdini Project through a resource expansion drilling programme and continues to advance the PEA / Scoping Study which is now due for release in Q1 2018. In parallel, a pre-feasibility study is progressing supported by additional multi-disciplinary engineering activities. Exploration activity is also underway on its large portfolio of regional exploration Licenses.
For more information on the Company, Investors should review the Company’s filings that are available at http://www.sedar.com
Cardinal Resources Ltd