Quarterly Activities and Cashflow Report
Perth, July 6, 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 30 June 2016.
Highlights:
- Wide mineralised zones at Namdini Project between 190 and 310m widths
- Mineralisation along strike confirmed with infill diamond drilling
- High gold values continue to be intersected along strike
- Significant intersections include:
-- 98m @ 1.31 g/t
-- 80m @ 1.06g/t
-- 79m @ 1.34 g/t
-- 59m @ 1.42 g/t
-- 55m @ 1.62 g/t
-- 49m @ 1.39 g/t
-- 42m @ 3.37 g/t
-- 31m @ 1.57 g/t
-- 9m @ 4.62 g/t
- Ground geophysical surveys completed over Namdini, Kungongo and Ndongo Far East Prospects
Currently Cardinal holds four tenements within the Bolgatanga Project, with Subranum comprised of a single tenement in central Ghana (Figure 1, see link below).
Commenting on the quarters activities, Managing Director Archie Koimtsidis said:
"We are extremely encouraged by continued intersections of wide gold mineralisation reported from the 50m spaced infill diamond drilling on the Namdini Project.
"These gold intersections range from surface to 300m 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 (Figure 3, see link below)."
To view the report, please visit:
http://abnnewswire.net/lnk/R3URJ0C4
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.
| ||
|
