Investor Update - September 2017
Perth, Sep 18, 2017 AEST (ABN Newswire) - Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) provides the Company's latest Investor Presentation on Namdini Gold Project.
INVESTMENT HIGHLIGHTS
Namdini gold deposit - mineralised system currently measuring up to 350m in width and extending over 1km within the West African Birimian greenstones
Mining Licence - recently granted for a 15 year renewable term with environmental permitting in progress
Mineral Resource - 1st drill hole to maiden resource in 18 months - declared Nov 2016 and updated Sept 2017
Resource expansion - open at depth and along strike with drilling on-going
Metallurgy - testwork confirms conventional crush-grind-float-regrind-CIL circuit. Optimisation ongoing
Infrastructure - established roads, grid power and continuous water supply available - located nearby
Community - pre-existing, robust, long term relationships assists with rapid development objective
Board and Management Team - proven track record in African gold mining industry, in particular, Ghana
NAMDINI GEOLOGY
- The Namdini deposit is hosted along the regional-scale Nangodi Shear zone which is spatially associated with the nearby Youga and Shaanxi gold mining operations
- Gold mineralisation is characterised by disseminated sulphides in sheared Birimian greenstones (metavolcanics intruded by granite & diorite)
- Namdini is a significant mineralised system of up to 350m in width, 650m in depth and extending over 1km in strike length
NAMDINI PROJECT DEVELOPMENT
- Granted Mining Licence paves the way to production
- Large scale single open pit opportunity
- Anticipated low strip ratio
- Conventional processing flowsheet
- Local infrastructure
o National HV power grid ~30km
o Water supply ~7km
o Sealed highway ~15km
- Low population density
- Open savannah grassland
To view the full presentation, please visit:
http://abnnewswire.net/lnk/O15LZPRS
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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