Cardinal Reports Further Shallow High-Grade Gold
Cardinal Reports Further Shallow High-Grade Gold
Perth, July 10, 2019 AEST (ABN Newswire) - Cardinal Resources Limited (ASX:CDZV) (TSE:CDV) ("Cardinal" or "the Company") is pleased to announce further intersections of shallow, high-grade gold mineralisation from a 15-hole, 883 metre Diamond Drill programme at the Ndongo East discovery located approximately 24km north and within hauling distance of the Company's Namdini Gold Project for which Cardinal declared an Ore Reserve of 5.1Moz (0.4Moz Proved and 4.7Moz Probable) on 02 April 2019 (Figure 1 in link below).

Highlights

New significant gold intersections include:
5.3m @ 13.9g/t Au from 78m in NDDD063
5.5m @ 3.8g/t Au from 31m in NDDD072
3.7m @ 3.3g/t Au from 59m in NDDD064
2.7m @ 7.7g/t Au from 19m in NDDD068
2.0m @ 18.3g/t Au from 59m in NDDD066

Previously reported gold intersections:

14m @ 7.0g/t Au from 69m in NDDD046
9m @ 23.3g/t Au from 60m in NDRC248
8.3m @ 11.3g/t Au from 76m in NDDD059
7m @ 4.4 g/t Au from 14m in NDRC216
6m @ 12.6g/t Au from 2m in NDRC275
5.2m @ 4.5g/t Au from 60m in NDDD060
3m @ 29.3g/t Au from 45m in NDDD036

- Results provide further confidence in the potential to define high grade satellite pits within hauling distance of the 5.1Moz open pit Ore Reserve at the Namdini Project

- Geophysical surveys and auger soil drilling programmes underway to identify additional drill targets within the much broader target area spanning approximately 7kms

Cardinal's Chief Executive Officer / Managing Director, Archie Koimtsidis stated: "The Ndongo East discovery is particularly encouraging as the close spaced drilling has now delineated a welldefined mineralised zone over a strike length of 150 metres within the initial 450 metre mineralised discovery zone.

"These new shallow high-grade results further increase our level of confidence to continue drilling along strike and at depth as we have only drilled down to approximately 80 metres vertically below surface.

"Along strike from this initial 450 metre discovery zone, we are enthusiastic about the additional corridor of 750 metres of gold mineralisation previously intersected, which may provide a large number of additional shallow gold targets".

The Ndongo East discovery lies within a much larger target area which currently covers a strike length of approximately 7km. Ground geophysical surveys and auger soil drilling programmes are ongoing to evaluate this larger target area and are expected to generate further drill targets which could develop into high-grade satellite pits to provide additional ounces of gold for our developing Namdini Project which has a 5.1Moz Ore Reserve from surface located only 24km away.

Ndongo Prospecting License

The Ndongo Prospecting License covers an area of 295 km2 and is considered highly prospective for the discovery of economic gold mineralisation associated with the prolific Nangodi Shear Zone, a splay fault off the main regional-scale Bole-Bolgatanga Shear. Elsewhere, the Nangodi Shear Zone is spatially related to no fewer than four gold discoveries, including the Company's Namdini Gold Project with a 5.1Moz Ore Reserve, the Shaanxi Gold Mine, the historical Nangodi Gold Mine and the Youga Gold Mine in Burkina Faso, adjacent to the Ghanaian border. In addition, there are numerous historical shallow artisanal workings along many parts of this shear zone ~15 to 25 km north of the Namdini Gold Project (Figure 1 in link below).

Ndongo East Prospect

The Ndongo East Prospect is located within northeast-southwest trending Birimian metavolcanics and metasediments. Gold mineralisation is developed mostly along diorite-granodiorite contact zones where competency contrasts create brittle fracturing allowing the ingress and precipitation of gold mineralising fluids (Figures 2, 3 and 4 in link below). The mineralised horizons contain variable chlorite-silica-carbonate-sericite alteration with sulphides (mainly pyrite with very minor arsenopyrite). Occasional visible gold grains and blebs have been observed in the core.

The gold mineralisation at Ndongo East is confined to specific gold - bearing, pyrite-silica-ankerite carbonate altered, shear zones which dip to the northwest. Drilling indicates two orientations to the mineralisation, namely a steeply-dipping northwest orientation and a shallower west-southwest plunging orientation.

A marker horizon comprising a very narrow, thinly bedded, black pyritic mudstone has been observed to occur at the base of the mineralised intersections within the metavolcanics (Figures 3, 4, 5 and 6) and could mark a hiatus in the continuation of volcanic activity in the area. Although this marker horizon appears to be unrelated to mineralisation within the metavolcanics, it will be a very useful marker as more shallow diamond drilling is completed further along strike.

Today's results include the follow-up systematic close spaced infill and step-out shallow diamond drilling from existing RC holes, for a total of 882.5m at Ndongo East along strike to better define the geometry, extent and continuity of the high-grade mineralised zones. These additional drill holes will determine the strike and depth extent of the mineralised system and will evaluate the structural components of the various lithological units (Figure 2).

12.5m step out diamond drilling from the initial section line E-E was carried out to ensure that plunges of the mineralised structures are understood before embarking on a wider spaced drill campaign along strike. The drilling has now delineated a well-defined mineralised zone over a strike length of 150 metres within the initial 450 metre mineralised discovery zone (Figure 2).

A full table of the results is included at the end of this report in Table 2 in Schedule 1 in link below.

The high-grade mineralised structures have been tested to a shallow depth of approximately 70m vertically below surface (Figures 3,4,5 and 6). The Company plans to steadily increase exploration at Ndongo East after evaluating further drill core and assay results to determine the strike and depth extents of the mineralised system as well as the structural components of the various lithological units. Furthermore, Infill auger drilling and Gradient Array IP (GAIP) geophysical surveys commenced over the Ndongo East deposit and its southern extension of ~7km strike length to delineate additional drill targets within this structurally controlled mineralised shear system.

Previously announced drilling intersected higher-grade mineralised structures concentrated in the northern portion of the shear zone with coincident gold-in-soil and geophysical targets defined to a strike length of 450m northeast-southwest (Figure 2). Subsequent RC drilling along fence lines further to the southwest along strike and at depth has proven encouraging with further high-grade intercepts within the mineralised structures. This indicates that the mineralised system is open along a northeast-southwest strike and at depth with multiple mineralised intersections. The furthest drill fence to the southwest intersected 2m at 27.0g/t Au from 10m downhole in NDRC247 which suggests a strike potential up to 1.2km (refer to Cardinal's ASX/TSX Press Release 29 August 2018 "Cardinal Extends Ndongo East Discovery Strike Length").

To view tables and figures, please visit:
http://abnnewswire.net/lnk/6A14S472


About Cardinal Resources Ltd

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

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.

 


Contact

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

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

Andrew Rowell
Cannings Purple
E: arowell@canningspurple.com.au
P: +61-400-466-226

Peta Baldwin
Cannings Purple
E: pbaldwin@canningspurple.com.au
P: +61-455-081-008



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