Cardinal Resources Ltd: Quarterly Activities and Cashflow Report
28.04.2017 | ABN Newswire
Perth - Cardinal Resources Ltd. (ASX:CDV) (OTCMKTS:CRDNF) ("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 March 2017. The Company holds interests in prospective tenements for gold mineralization in Ghana in two NE-SW trending Paleo-Proterozoic granite greenstone belts: the Bolgatanga Project and the Namdini Project, which are located, respectively, within the Nangodi and Bole-Bolgatanga Greenstone Belts in northeast Ghana, and the Subranum Project, which is located within the Sefwi Greenstone Belt in southwest Ghana (see Figure 1 in the link below).HIGHLIGHTS
- Drill holes continue to intersect wide mineralised zones at Namdini Project
- 2 infill drill holes from west completed
- 7 drill holes completed south along strike
- Auger soil surveys completed over Namdini, Kungongo, Ndongo North and Bongo
Commenting on the quarter's activities, MD / CEO Archie Koimtsidis said:
"We are further encouraged by continued intersections of wide gold mineralisation reported from diamond drilling on the Namdini Project, both from the west and the southern strike extension (see Figure 2 in the link below).
"Cardinal announced the drill results of NMDD062 (21st Feb 2017) which clearly demonstrates that the lithologies are mineralised further down dip to a vertical depth of approximately 550m. Given that our 4M oz maiden resource was calculated on drill hole data to a vertical depth of 350m, we are looking forward to the assay results for the two drill holes either side of NMDD062 being NMDD063 and NMDD065 (see Figure 2 in the link below).
"These two diamond drill holes are collared 200m to the south and 200m to the north of NMDD062. If these holes produce similar mineralisation to NMDD062, then we could have approximately 400m of the entire 1,000m of strike length further mineralised to a vertical depth of approximately 550m from the original 350m used in the maiden resource estimate (see Figure 2 in the link below).
"Cardinal also announced the results of a southern extension drill fence located 50m south of the maiden resource (7th Feb 2017). We are now awaiting drill results for two fences which were drilled up to 150m further south of the maiden resource.
"If these two fences show similar mineralisation to the first southern extension drill fence, they will enhance the global resource figure and provide data which could indicate the real possibility of a strike extension to the south of the maiden resource model (see Figure 2 in the link below)."
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About Cardinal Resources Ltd:
Cardinal Resources Ltd. (ASX:CDV) (OTCMKTS:CRDNF) 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. Cardinal has its operational base located within close proximity to the Bolgatanga Project in North East Ghana and has its corporate office located in Perth, Western Australia.
Contact:
Archie Koimtsidis MD / CEO
Cardinal Resources Ltd.
P: +61-8-6558-0573
Skype: cardinal.archie