Namdini Infill and Up-Dip Drilling Results Returned
Perth, Dec 19, 2016 AEST (ABN Newswire) - Cardinal Resources Limited (
ASX:CDV) ("Cardinal" or "the Company") is reporting assay results which have been received from infill and up-dip drilling at the Namdini Project ("Namdini") (Figure 1, refer to link below).
HIGHLIGHTS
- Gold intersections from infill drilling include:
-- 27m @ 7.75g/t (3.82g/t, cut to 15g/t) from 162m
-- 34m @ 7.33g/t (6.24g/t, cut to 15 g/t) from surface
-- 49m @ 1.46g/t from 38m
- In addition, gold intersections from up-dip drilling include:
-- 9m @ 2.06g/t from surface
-- 26m @ 1.64g/t from 20m
-- 70m @ 1.54g/t from 50m
-- 43m @ 1.11g/t from surface
-- 29m @ 1.15g/t from 10m
- Drilling is ongoing with 4 diamond drill rigs active on site
Cardinal's Managing Director, Archie Koimtsidis said:
"The up-dip drill holes indicate that broad zones of mineralisation extend to the surface and that highgrade gold intersections begin from the surface in several parts of the Namdini deposit. Infill data provides further confidence in the current resource.
"The new up-dip drill hole programme is demonstrating the potential for the gold-mineralised zone at Namdini to extend to the surface over the majority of the deposit. A further 14 up-dip holes have been completed and assay results are awaited.
"Drilling is ongoing, with 4 diamond rigs active on site. The diamond rigs are currently drilling to test possible strike extensions to the south of the current resource and are also drilling in the west, testing for possible down-dip extensions".
Holes NMDD034, NMDD035 and NMDD036 represent infill holes from the initial framework drilling. Holes NMDD037 to NMDD040 form part of the up-dip extension drilling confirmation programme.
NMDD034 and NMDD040 intersected gold grades within volcaniclastics and diorites, confirming the continuity of mineralisation within Section E (Figure 2, refer to link below). The figures show the drill hole gold grades as 3m down hole composites, along with the Multiple Iindicator Kriging (MIK) resource estimate.
The high-grade intersection of 27m at 7.75 g/t in NMDD035 is interpreted to form part of the highgrade zone that was intersected approximately 150m down dip in hole NMDD006 (35m at 3.65g/t) on Section G (Figure 3, refer to link below).
NMDD036 intersected 34m at 7.33g/t and confirms the existence of a wide, high grade gold mineralised zone greater than 2g/t Au from surface on Section M (Figure 4, refer to link below).
NMDD037 also confirmed the existence of a broad (approximately 100m down hole) zone of elevated gold mineralization returning 26m at 1.64g/t and 70m at 1.54g/t. This is the up-dip continuation of the broad mineralised zone intersected in NMDD013, which returned 45m at 2.15g/t and 22m at 1.21g/t, demonstrating that the zone appears to continue to the surface on Section K (Figure 5, refer to link below).
NMDD038 intersected 29m of 1.15g/t from approximately 10m down hole which confirms that the high grade mineralised corridor of Section L extends to the surface (Figure 6, refer to link below).
NMDD039 intersected 43m at 1.11g/t down hole from surface, which confirms that the mineralised zone on Section D extends to the surface (Figure 7, refer to link below).
Table 1 (refer to link below) lists the drill hole intersections in NMDD034 to NMDD040, based on a reporting rule of a minimum 3 metres down hole mineralised length, a maximum of 3 metres contiguous 'sub-grade' and a lower cutoff grade of 0.5 g/t.
APPENDIX 1: Shows the Namdini drill hole renumbering system. (refer to link below)
APPENDIX 2: For full details of lithologies and assay results of diamond drill holes NMDD034 to NMDD040, please refer to the Cardinal Resources website (http://www.cardinalresources.com.au).
To view tables, figures and appendices, please visit:
http://abnnewswire.net/lnk/59W3A853
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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