Cardinal Resources Ltd: 4 Million Ounce Maiden Resource at Namdini
07.11.2016 | ABN Newswire
Perth - Cardinal Resources Ltd. (ASX:CDV) ("Cardinal" or "the Company") is pleased to announce the maiden resource estimate for Namdini and results of the Phase 1, single hole, metallurgical testwork programme.Highlights
- Maiden JORC Resource of circa 4 Million ounces gold
- Significant scope remains to expand the Resource with further drilling. The depositremains open at depth and along strike
- 4 diamond rigs drilling on site operating 24/7, with a focus on both increasing the drilldensity of the maiden resource, plus extensional drilling to grow the resource
- Preliminary metallurgical test work completed, with further test work continuing todetermine an optimal process route.
Commenting on the resource, Cardinal Resources Managing Director Archie Koimtsidis: "The Namdini maiden resource and the initial metallurgical results represent a major milestone for Cardinal and highlights the outstanding potential of the Namdini deposit, which remains open at depth and along strike. "With the first 4Moz now defined our aggressive drilling efforts will continue, with exploration around the existing resource already underway. Furthermore, we have four drill rigs onsite operating 24/7 to increase the size and confidence within the current resource. "Namdini is well located for future development and the project receives strong government and local landowner support."
The internal pit optimisation has demonstrated that the reported resource has reasonable prospects for economic extraction.
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About Cardinal Resources Ltd:
Cardinal Resources Ltd. (ASX:CDV) is a focused gold exploration and development company with its key assets located in the mineral-rich country of Ghana, West Africa. Cardinal owns and operates 2 drill rigs and has in country infrastructure which allows it to be a low cost exploration and development company.
Contact:
Archie Koimtsidis Managing Director
Cardinal Resources Ltd.
P: +233 (0)26 190 5220
Skype: cardinal.archie