Quarterly Activities and Cashflow Report
Perth, April 22, 2016 AEST (ABN Newswire) - Cardinal Resources Limited (
ASX:CDV), an African gold focused exploration company, is pleased to present to shareholders its Quarterly Activities report for the period ended 31 March 2016. Currently Cardinal holds four tenements within the Bolgatanga Project, with Subranum comprised of a single tenement.
Highlights:
- High gold values continue to be intersected along strike
- Significant intersections include:
-- 45m @ 7.73 g/t
-- 35.35m @ 3.65g/t
-- 18.1m @ 2.87 g/t
-- 15.4m @ 4.02 g/t
-- 8m @ 2.25 g/t
-- 5.5m @ 4.40 g/t
Commenting on the quarters activities, Managing Director Archie Koimtsidis said:
"We are extremely encouraged by continued intersections of high grade gold mineralisation reported from the diamond drilling on the Namdini Project.
"These gold intersections range from surface to 200m vertical depths which considerably 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, with a total strike length of approximately 900m."
To view the complete quarterly report, please visit:
http://abnnewswire.net/lnk/77OI5DP7
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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