December 2015 Quarterly Report
Perth, Jan 29, 2016 AEST (ABN Newswire) - Cardinal Resources Limited (
ASX:CDV) ("Cardinal" or "the Company"), an African gold focused exploration company, is pleased to present to shareholders its Quarterly Activities report for the period ended 31 December 2015. Currently Cardinal holds four tenements within the Bolgatanga Project, with Subranum comprised of a single tenement.
HIGHLIGHTS
- Very wide gold intersections found in drilling at Namdini
- 215m wide gold mineralised zone in diamond drill hole section
- Significant intersections include:
o 133.75m @ 1.61 g/t from 3m vertical depth
o 87m @ 1.08 g/t from 28m vertical depth
- 13 RC drill holes on 5 sections include:
o 83m @ 1.41 g/t from 13m vertical depth
o 67m @ 1.78 g/t from surface
o 51m @ 1.02 g/t from 35m vertical depth
o 48m @ 1.15 g/t from 19m vertical depth
Commenting on the quarter acitivities, Managing Director Archie Koimtsidis said: "We are extremely encouraged by the wide intersections of gold mineralisation reported from 2 of the diamond drill holes and the 13 RC drill holes on the Namdini Project.
"These wide gold intersections range from surface to very shallow depths which further enhances the gold potential of this project.
"These results confirm that wide gold mineralisation continues for approximately 650m north along strike from the original Confirmed Gold Mineralised Zone on the Namdini Licence."
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/82564-ASX-CDV-750409.pdf
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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