Cardinal Resources Ltd Stock Market Press Releases and Company Profile
High Grade Results Continue at Namdini
High Grade Results Continue at Namdini

Perth, July 25, 2016 AEST (ABN Newswire) - Cardinal Resources Limited (googlechartASX:CDV) ("Cardinal" or "the Company") is pleased to report the results of another shallow updip RC drill hole, NMRC470-784, recently completed on the Namdini Project ("Namdini"), Ghana (Figure 1, see link below).

Highlights:

- 108m @ 1.62 g/t from surface including 43m @ 2.52 g/t

- Confirms wide gold mineralisation across strike to 240m

- Significant gold mineralised intersections within this section include:

-- 108m @ 1.62 g/t gold - from surface
-- 69m @ 2.05 g/t gold - from surface
-- 50m @ 1.99 g/t gold
-- 58m @ 1.61 g/t gold
-- 37m @ 2.36 g/t gold

Cardinal's Managing Director, Archie Koimtsidis said:

"This shallow updip drill hole confirms that the mineralised gold corridor has been widened across strike, thereby significantly enhancing the gold potential of the Namdini project.

"This updip drill hole also confirms the presence of near surface gold mineralisation within the Namdini mineralised corridor.

"The width and tenor of gold that continues to be encountered with our drilling at Namdini to date is certainly pointing towards a very large gold system being present within the 900m x 300m that has been the focus of our drilling so far. On top of this, Namdini has great exploration upside given that mineralisation remains open at depth and along strike".

Infill diamond drill holes NMDD472-745 and NMDD470-774 with updip RC hole NMRC470-784 have enabled Section N to be compiled, with a 240m wide gold mineralised zone (Figure 2). This mineralised section confirms the continuation of wide gold mineralisation at depth and along strike and near surface within the Namdini Project.

The potential of the Namdini Project to host a world-class gold project continues to be confirmed by the intersection of long mineralised zones, including 108m @ 1.62 g/t Au, 69m @ 2.05 g/t Au, 58m @ 1.61 g/t Au, 50m @ 1.99 g/t Au and 37m @ 2.36 g/t Au.

Assay results are pending from 9 diamond and 11 RC drill holes, which should provide a constant flow of results in the weeks ahead. The Company has divided up its core submissions between SGS Laboratories in Burkina Faso and Ghana to assist in accelerating receipt of assay results (Figure 1).

NMRC470-784 intersected 120m of gold mineralisation within hydrothermally altered granitoids,volcaniclastics and diorites from 0m to 120m vertical depths with multiple zones of mineralisation down the drill hole, including 108m @ 1.62 g/t, confirming continuity of mineralisation with depth (Figures 2 and 3, see link below).

The drill rig was aligned for this RC drill hole at -60DEG 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 deflect to the right with depth due to the clockwise rotation of the drill rods.

The RC drill hole was surveyed at the top of the drill hole to confirm that the drill rig had been set up correctly.

Once harder rock was encountered, PVC casing was inserted for stability of the RC drill hole which was drilled to the planned depth of 150m. The drill hole was also surveyed at the base of the drill hole to determine the dip of the drill hole.

NMDD472-754 intersected 244m of gold mineralisation within hydrothermally altered granitoids and volcaniclastics from 48m to 292m vertical depths with multiple zones of mineralisation down the drill hole, including 37m @ 2.36 g/t, 58m @ 1.61 g/t and 22m @ 1.01 g/t, confirming continuity of mineralisation with depth (Figures 2, 4 and 5, see link below).

NMDD470-774 intersected 184m of mineralisation within hydrothermally altered granitoids and volcaniclastics from surface to 184m vertical depths, including 69m @ 2.05 g/t, 50m @ 1.99 g/t and 17m @ 1.21 g/t confirming continuity of mineralisation with depth (Figures 2 and 6, see link below).

Drill holes NMDD472-754 and NMDD470-774 were cored from surface whilst the hole NMRC470-784 was drilled as RC 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 stability of each hole and HQ size core was drilled to their final depths of 351.72m and 231.71m respectively.

The drill rigs were aligned for both DD drill holes at -65DEG dip and -60 for the RC 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 deviates to the right with depth due to the clockwise rotation of the drill rods.

The 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.

The core was orientated at each drill run using a digital instrument. The core was 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. Geotechnical parameters were measured using this orientation line as the datum line.

The core was photographed then cut in half and then cut in half again. One quarter of the core 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 Laboratory in Burkina Faso for sample preparation and fire assay.

All of the completed infill diamond and updip RC drill holes were orientated to drill across this mineralised corridor to confirm the continuation of gold mineralisation along strike and at depth.

To view tables and figures, please visit:
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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.

abnnewswire.com 


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

Warrick Hazeldine
Cannings Purple
E: whazeldine@canningspurple.com.au
P: +61-417-944-616



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