Updated Investor Presentation
Cardinal will evaluate the economic results of the new option against the Company's current Preliminary Economic Assessment (PEA) (ASX/TSX announcement 5 February 2018 "Namdini Gold Project Preliminary Economic Assessment"), and should the economic results be favourable the Company will release an updated PEA reflecting the new option.
On review should the Company's evaluation of a larger throughput option show marginal economic results to Cardinal's PEA, released in February 2018, Cardinal will continue with the planned Preliminary Feasibility Study (PFS), as indicated in the Company's Investor Presentation.
As a result, the planned PFS due Q2 2018, would be deferred to Q3 2018, to allow for this evaluation process.
To view the Company's updated Investor Presentation, please visit:
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