Gold Intercepts include 18 Metres at 27.82 g/t
Significant Resource Extension Drilling Results Returned
Perth, Feb 7, 2017 AEST (ABN Newswire) - Cardinal Resources Limited (
ASX:CDV) (CRDNF:OTCMKTS) ("Cardinal" or "the Company") is pleased to report drilling assay results at the Namdini Project ("Namdini").
HIGHLIGHTS
- Results demonstrate resource extensions to the east, south and at depth
- Results provide strong confidence in the potential to grow the 4Moz maiden resource
-- Up-dip shallow drilling confirms mineralisation extends to surface. Highlights include:
o 30m @ 2.21 g/t - Hole NMDD046
o 18m @ 27.82 g/t - Hole NMDD051
(1.76g/t when intersection of 1m @ 484g/t is top cut to 15 g/t)
o 12m @ 3.30 g/t - Hole NMDD053
-- Strike extension drill programme highlights include:
o 52m @ 1.73 g/t - Hole NMDD058
o 26m @ 1.78 g/t - Hole NMDD059
-- Depth extensions demonstrated by down-dip program. Highlights include:
o 34m @ 2.51 g/t - NMDD061
- Four diamond rigs continuing to target down-dip depth potential
- Additional drilling to test for possible strike extensions to the south will commence this quarter
Cardinal's MD / CEO, Archie Koimtsidis said:
"The drill fence on Section A-50 has shown that the Namdini deposit is still open to the south and at depth. We have planned for another section to be drilled 50m further south to test for a possible strike extension.
"The up-dip drilling programme has demonstrated that gold mineralisation at Namdini extends to the ground surface further east of the resource and along the entire length of the deposit.
"These two programs confirm that mineralisation exists outside of the current Maiden Resource of 4Moz.
"The infill drill hole NMDD052 continues to confirm that broad zones of gold mineralisation characterise the Namdini deposit. The infill data provides further confidence in the robustness of the resource. "Currently the four diamond rigs are now drilling for possible down-dip depth extensions. Drill hole NMDD061, on Section A, is one of the first of these new down-dip holes and has returned strong results within a 250m wide mineralised corridor."
Down-Dip Depth Extension Drilling
Figure 2 (see the link below) - Drill hole NMDD061 is a resource extension drill hole that has confirmed a greater than 250m wide mineralised corridor.
Further down-dip step-out extension drilling is underway along strike to explore possible depth extensions to the large mineralised corridor at Namdini.
Strike Extension Drilling
Figure 3 (see the link below) - displays Section A-50. The great majority of the mineralised 'corridor' intersected extends beyond the current Namdini resource model.
Section A-50 has confirmed that the mineralised zone continues to the south and is open along strike and at depth. The mineralised zone is up to 250m wide and increasing in zone width at depth.
Up-Dip Width Extension Drilling
Gold Mineralisation has now been extended beyond the current Resource model with the results from the updip extension drilling confirmation programme (see Figures 4-9 in the link below).
Figure 4 (see the link below) - Drill hole NMDD043 shows that the mineralised zone width has been extended to the surface relative to the current resource model.
Figure 5 (see the link below) - Drill hole NMDD046 returned strong gold mineralisation outside the current resource model and close to the ground surface.
Figure 6 (see the link below) - Drill Hole NMDD053 confirms that the Namdini mineralised zone extends to the surface.
Figure 7 (see the link below) - Drill Hole NMDD048 and infill hole NMDD052, both confirm that the characteristic wide mineralised zone for Namdini extends to the surface.
Figure 8 (see the link below) - Drill hole NMDD051 has intersected strong gold mineralisation well to the east, and up-dip of the current Namdini resource model.
Figure 9 (see the link below) - Drill Hole NMDD054 has intersected gold mineralisation from the surface well to the east of the current resource model.
Long Section
Figure 10 (see the link below) - Shows the relevance of drill hole NMDD061 (see Figure 2 in the link below) and Section A-50 (see Figure 3 in the link below) in terms of the current 'reasonable prospects of economic extraction' pit shell.
The southern end of the pit shell was considered waste, due to the lack of drilling to define the Namdini mineralised corridor in this location, and thus the current resource model. NMDD061 and Section A-50 have now confirmed that the Namdini deposit remains open to the south along strike and at depth.
Planned Drilling Programme
The four drill rigs on site at Namdini are currently focused on the down-dip depth extension drilling programme. As these initial holes are completed, the rigs will be relocated to the south of the deposit in order to continue to track the Namdini deposit to the south.
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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.
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