Quarterly Activities Report
Quarterly Activities Report
Perth, April 27, 2018 AEST (ABN Newswire) - Cardinal Resources Limited (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) ("Cardinal" or "the Company"), an African gold focused exploration company, is pleased to present to shareholders its Quarterly Activities report for the period ended 31 March 2018. Currently Cardinal holds four tenements within the Bolgatanga Project, with Subranum comprised of a single tenement in central Ghana (see Figure 1 in link below).

HIGHLIGHTS

- On March 15, 2018, the Company announced a technical report titled "Technical Report on Namdini Gold Project, Ghana", in respect of the Company's Preliminary Economic Assessment ("PEA") of the Namdini Gold Project in Ghana, West Africa. The NI43-101 Technical Report was authored by Golder Associates Pty Ltd and MPR Geological Consultants Pty Ltd, and has an effective date of February 5, 2018. The Technical Report can be viewed under the Company's issuer profile on SEDAR at www.sedar.com or the Company's web site www.cardinalresources.com.au

- On March 5, 2018, the company announced an updated Mineral Resource estimate of Namdini. An Indicated Mineral Resource of 180 Mt grading 1.1 g/t Au for 6.5 Moz Au and an Inferred Mineral Resource of 13 Mt grading 1.2 g/t Au for 0.5 Moz Au, each at a 0.5 g/t Au cut off. The mineralisation remains open along strike and down dip.

- On February 22, 2018, the final tranche of Namdini infill drilling results were announced from the completed campaign to add definition to the Namdini Mineral Resource. These results, along with previously announced intercepts of infill drill results, formed the basis of the March 5, 2018 Mineral Resource upgrade.

- On February 5, 2018, the Company announced the completion and summary results of its PEA. The PEA confirmed Namdini to be a technically and financially robust low-cost mining opportunity, with the potential to generate strong positive cashflows.

- On January 22, 2018, Namdini infill drilling results were announced from the comprehensive campaign to continue to add definition to the Namdini Mineral Resource. The infill drill results continued to support strong continuity of the mineralised zones.

To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/R692V681

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 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.

 


Contact

Archie Koimtsidis
CEO / MD
Cardinal Resources Limited
P: +61-8-6558-0573
P: +1-647-256-1922
Email: archie@cardinalresources.com.au



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