Technical Report on Namdini
About Namdini Project: Ghana
The Namdini Mining Licence is located in the Bolgatanga region, 6 km south east of the operating Shaanxi underground Gold Mine and 12 km from Cardinal's Ndongo East Prospect. Extensive mining activities occur all around the Namdini licence attesting to the gold bearing potential of this whole area.
Known Mining Region
The Project is located in a mineral-rich region of Ghana where significant production has previously taken place from a number of gold mines and from numerous artisanal gold workings.
The producing open pit Youga Gold Mine, the historic Nangodi underground gold mine, the producing Shaanxi underground gold mine and the Namdini Mining Licence are all located along or adjacent to a major regional shear.
The Youga gold mine was recently sold by Endeavour Mining Corporation (TSE:EDV) (ASX:EVR) and is currently in production and operated by MNG Gold. At 31 December 2013, the Proven and Probable mineral reserves at Youga and Youga Satellites are 4.0 million tonnes at 2.0 g/t gold containing 0.265 million ounces (on a project basis 100%). The Measured and Indicated mineral resources, inclusive of reserves, are 15.5 million tonnes at 1.6 g/t gold containing 0.805 million ounces, plus Inferred resources of 2.2 million tonnes at 1.4 g/t gold containing 0.099 million ounces (0.5 g/t cut-off grade). This deposit was identified through regional exploration in the early 2000's.
The historic Nangodi gold mine produced 18,620 oz Au from 23,600 tonnes, at an average of ~23.9 g/t Au during the 1930's from underground workings exceeding 150m depths (Ghana Department of Mines records 1938).
The producing Shaanxi underground gold mine operates with 4 head frames, a large processing plant, an extensive range of equipment and company operated drill rigs. The underground workings are reported to range between 150-200m depths.
The Bole-Bolgatanga Fault is a major regional fault zone trending ~NE from Cote d'Ivoire, through NE Ghana, through Burkina Faso and into Niger. In Niger, the Samira Hill Gold Mine is located along the fault. This fault zone is developed over ~6 km in the NW corner of the Kungongo tenement and along the ~18 km SE border of the Bongo tenement and constitutes long lengths of potential gold bearing exploration targets.
The Nangodi Greenstone Belt is the southern portion of the greenstone belt that crosses into Burkina Faso where the Youga gold mine is located. Locally, the belt trends NNE-SSW over a distance of 30 km and turns to a more ENE-WSW trend in the south of the area.
The belt is comprised of Birimian interbedded metavolcanics (mainly basalt flows), metasediments (phyllites, greywackes and cherty horizons). Some small basic to intermediate intrusions occur within the belt which are associated with gold mineralisation. Metasediments of Tarkwaian age occur adjacent to the belt and host the gold mineralisation of the nearby Youga mine.
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About Cardinal Resources Ltd
The Company is focused on the development of the Namdini Project with a gold Ore Reserve of 5.1Moz (0.4 Moz Proved and 4.7 Moz Probable) and a soon to be completed Feasibility Study.
Exploration programmes are also underway at the Company's Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.
Cardinal confirms that it is not aware of any new information or data that materially affects the information included in its announcement of the Ore Reserve of 3 April 2019. All material assumptions and technical parameters underpinning this estimate continue to apply and have not materially changed.
Endeavour Mining Corporation
Cardinal Resources Ltd