Perth, Mar 16, 2017 AEST (ABN Newswire) - The Directors are pleased to submit their report on Cardinal Resources Limited (ASX:CDV) (OTCMKTS:CRDNF) for the half-year ended 31 December 2016.

JULY - DECEMBER 2016 REVIEW OF OPERATIONS

The Board is pleased to provide the following Review of Operations for the half year period to 31 December 2016.

GHANA GOLD PROJECTS

Cardinal Resources Limited, through its wholly owned subsidiary, Cardinal Resources Ghana Limited, holds five tenements prospective for gold mineralisation in Ghana in two NE-SW trending Paleoproterozoic granite-greenstone belts: the Bolgatanga and Namdini Projects located within the Nangodi and Bole-Bolgatanga Greenstone Belts in NE Ghana and the Subranum Project located within the Sefwi Greenstone Belt in SW Ghana (see Figure 1 in the link below).

BOLGATANGA PROJECT, GHANA

Exploration activities were mainly comprised of diamond, RC and RC with diamond tails drilling at the Namdini Project.

Shallow RC scout drilling was completed to the north and south of the main Namdini deposit to assess areas suitable for future mining infrastructureon Namdini.

Shallow soil auger was completed on Namdini, and selected portions of Ndongo, Kungongo & Bongo Prospects.

NAMDINI PROJECT

The Namdini tenement is located ~12 km SE from Cardinal's Ndongo East Prospect and ~6 km SE of the producing Shaanxi Gold Mine. The area around the original Namdini Licence has been considerably expanded, which is anticipated to add to the Namdini Licence gold inventory already identified (see Figure 2 in the link below).

NAMDINI PROJECT DRILLING

A total of 49 drill holes, comprising 32 Diamond, 6 RC + DD tails (see Figure 3 in the link below), and 11 scout sterilisation RC drill holes were completed during this review period totalling 8,485.10m. A total of 7,186 samples, including duplicates, blanks and standards, were submitted to SGS Laboratories in Burkina Faso and Ghana, for standard fire assay (see Table 1 in the link below). QAQC protocols were observed by the taking of duplicates (RC drilling), and inserting in-house blanks and commercial certified reference material (CRM) as standards.

The drill rigs were all aligned at -65deg dip drilling east which allows for the shallowing of the drill holes with depth. The azimuth was set at 095deg instead of 100deg (normal to the strike of the formations) as the borehole traces usually deviate to the right with depth due to the clockwise rotation of the drill rods.

Diamond Drilling

The 32 diamond drill holes were all cored from surface. The soft near surface materials were drilled with a Triple Tube core barrel to reduce core losses. Once harder rock was encountered, then HW steel casing was inserted for drill hole stability and HQ size core was drilled to their final depths using a full-hole chrome barrel for greater stability and to reduce excessive deviation.

The diamond drill holes were surveyed near the top of each drill hole, then every 30m down the hole to determine the dip and azimuth of the drill holes with depth. Surveys were done using digital instruments.

The drill cores were orientated at each drill run. The digital instrument indicates the lower side of the drill hole, allowing the core to be marked showing the base of the drill hole. Then the core from each drill run was laid in a length of angle iron to fit the core together so that the orientation line could be drawn along the length of the core at the drill site. Initial geotechnical parameters were measured at the drill site, with more detailed parameters measured in the core shed using this orientation line as the datum line.

The core was photographed then cut in half and quartered; one quarter was consistently sampled, with the remaining three quarters stored in metal core trays and placed on metal racks under cover in the core shed at Bolgatanga. The quarter core samples were sent to the SGS Laboratories in Burkina Faso and Ghana for fire assay.

Combination RC and Diamond Drilling (RC + DD Tails)

Three combined RC + DD tail drill hole was drilled within the main Namdini deposit. The RC portions were drilled from surface to fresh rock, then HW steel casing was inserted for drill hole stability and HQ size cores were drilled to their final planned depths.

The RC portions of the drill hole were surveyed using a stainless steel tube to obtain the azimuths and dips of the drill holes. The cored portion of the drill holes were surveyed for both azimuth and dip a short distance below the ends of the HW casing, and then every 30m down the drill holes to completion.

Namdini Scout Sterilisation RC Drilling

Scout sterilisation RC drilling at Namdini North and Namdini South during this review period comprised of 11 RC drill holes and 3 RC drill holes with diamond tails (see Figure 4 in the link below).

The general strike of the host rocks is 010deg and dipping at approximately -60deg W. The RC drilling was orientated at 90deg to the strike of 100deg azimuth with all drill holes inclined to the east.

Three lines of shallow inclined reverse circulation drilling were completed to the north (two lines) and south (one line) of the Namdini deposit in order to fulfill two objectives; firstly to provide a near-surface test of some interpreted geophysical anomalies and secondly to initiate assessment of suitable locations for the positioning of waste dump and other infrastructure required for any future open pit located on the Namdini deposit. A total of 15 holes were drilled for 2,027 metres of RC drilling and 88.85 metres of diamond drill 'tails' for a total of 2,115.85m.

Namdini Soil Auger Drilling Surveys

Gradient Array Induced Polarisation (GAIP) and Ground Magnetic surveys were previously completed over a 19.58 sq km area around the Namdini deposit (see Figure 5 in the link below).

Soil auger drilling was completed during this review period utilising the same grid lines of 100 by 50 for shallow soil sampling over the accessible parts within this area. In all 1,133 holes totalling 3,909m were completed, and submitted to SGS Tarkwa for bottle roll (BLEG) analyses.

The geochemical results will be combined with the ground geophysical interpretations to delineate drill targets to extend and further enhance the gold potential of the Namdini area.

NDONGO PROSPECT (Ndongo Far East & Ndongo North)

Auger soil sampling was completed over portions of Ndongo Far East and Ndongo North, with 2,550 holes drilled totalling 9,076m (see Figure 6 in the link below). Samples have been submitted to SGS Tarkwa laboratory for bottle roll (BLEG) analyses.

KUNGONGO PROSPECT

Shallow auger soil drilling was completed over 3 selected areas of Kungongo during this review period, with 2,279 holes drilled totaling 9,947m (see Figure 7 in the link below). Samples have been submitted to the SGS Tarkwa laboratory for bottle roll (BLEG) analyses.

BONGO PROSPECT

Shallow auger soil drilling was completed over 2 selected areas of Bongo during this review period, with 4,767 holes drilled totaling 17,945m (see Figure 8 in the link below). Samples have been submitted to the SGS Tarkwa laboratory for bottle roll (BLEG) analyses.

SUBRANUM PROJECT

Previous exploration at Subranum has established that the NE extension to the regional Bibiani Shear Zone is developed for approximately 9 km trending SW-NE across the Subranum tenement (see Figure 9 in the link below).

This previous exploration has established a significant NE trending anomalous zone of 5.2 km from the SW boundary. Previous drilling, however, had been on 11 fences of varying distances between 200m to >500m apart.

Cardinal has planned a systematic diamond drilling programme to cover this 5.2 km anomalous strike length to properly evaluate the gold mineralisation contained within this anomalous zone.

Clearing of the previous drill access tracks was started during this review period with diamond drilling planned to start during 2017.

A soil auger programme is planned for the remaining 3.8 km strike length in the NE portion of the tenement to initially cover a ~400m width across the strike of the Bibiani Shear Zone. After analysis of these results, either RC or diamond drilling could be planned to further assess any anomalies.

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About Cardinal Resources Ltd

Cardinal Resources ASX:CDVCardinal Resources Ltd (ASX:CDV) (OTCMKTS:CRDNF) is a focused gold exploration and development company with its key assets located in the mineral-rich country of Ghana, West Africa. Cardinal owns and operates 2 drill rigs and has in country infrastructure which allows it to be a low cost exploration and development company. Cardinal has its operational base located within close proximity to the Bolgatanga Project in North East Ghana and has its corporate office located in Perth, Western Australia.

 


Contact

Archie Koimtsidis
Managing Director
Cardinal Resources Limited
P: +233-26-190-5220
Skype: cardinal.archie



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