Cardinal Purchases Kinross Land Package Along Namdini Trend
Cardinal Purchases Kinross Land Package Along Namdini Trend
Perth, Aug 16, 2017 AEST (ABN Newswire) - Cardinal Resources Limited (ASX:CDV) (TSE:CDV) ("Cardinal" or "the Company") is pleased to announce that it has acquired two large scale prospecting licences ("PL's") located in North East Ghana from the Kinross Gold Corp ("Kinross") subsidiary Red Back Mining Ghana Limited ("Red Back") (see Figure 1 in the link below).


- Land package encompasses Namdini regional shear

- Historic producing "Nangodi" gold mine located within acquired tenements

- More than 120 diamond and RC historic drill holes within acquired land package

Cardinal has entered into a definitive agreement with Red Back to acquire 100% ownership of the licences. The PL's are strategically located adjacent to Cardinal's Ndongo tenement (173.36 sq km) which increases the new Ndongo combined tenement area to 286.67 sq km. This enlarged area significantly increases Cardinal's land holding over the Namdini major regional shear and allows the Company to extend its exploration programme into this highly prospective terrane.

Cardinal's Chief Executive Officer / Managing Director, Archie Koimtsidis stated:

"The 100% acquisition of these large-scale licences clearly demonstrates our commitment to the regional prospectivity within the Upper East Region of Ghana.

"On a regional scale, Cardinal now has tenements that span ~900 sq km and contain two major regional shear zones, namely the Bole-Bolgatanga Shear Zone and the major Nangodi regional shear zone on which the Namdini Project is located.

"Located along the Nangodi shear is the historic Nangodi Gold Mine, which produced 18,620 oz Au at 24.54 g/t during the 1930's.

"The consolidation of the acquired land package with our large scale Ndongo tenement, which is located on the same regional shear zone as the Namdini deposit, will allow Cardinal to progress its regional exploration programme."

Completion is subject to customary regulatory approval.

To view figures, please visit:

About Cardinal Resources Ltd

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

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 its PFS studies as well as gold exploration on its tenements located within close proximity to the Namdini Project.



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

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

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