Cardinal Resources Ltd: Updated Investor Presentation, June 2018
Perth - Cardinal Resources Ltd. (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) ("Cardinal" or "the Company") advises that the Company is evaluating a larger process throughput option due to an increase in their indicated resource categorisation from 4.3Moz to 6.5Moz (ASX/TSX announcement 5 March 2018 "Cardinal Upgrades Indicated Minerals Resource to 6.5Moz").Cardinal will evaluate the economic results of the new option against the Company's current Preliminary Economic Assessment (PEA) (ASX/TSX announcement 5 February 2018 "Namdini Gold Project Preliminary Economic Assessment"), and should the economic results be favourable the Company will release an updated PEA reflecting the new option.
On review should the Company's evaluation of a larger throughput option show marginal economic results to Cardinal's PEA, released in February 2018, Cardinal will continue with the planned Preliminary Feasibility Study (PFS), as indicated in the Company's Investor Presentation.
As a result, the planned PFS due Q2 2018, would be deferred to Q3 2018, to allow for this evaluation process.
To view the Company's updated Investor Presentation, please visit:
http://abnnewswire.net/lnk/7V34U647
About Cardinal Resources Ltd:
Cardinal Resources Ltd. (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) is a gold-focused exploration and development Company which holds interests in tenements within Ghana, West Africa.
The Company's Namdini Project has an Indicated Mineral Resource of 6.5Moz of gold contained in 180Mt at 1.1 g/t Au at a cut-off of 0.5g/t Au and an Inferred Mineral Resource of 0.5Moz of gold contained in 13Mt @ 1.2 g/t Au at a cut off of 0.5 g/t Au.
The Company is focused on the development of the Namdini Project through advancing the Pre-Feasiblity study, supported by additional multi-disciplinary engineering activities.
Exploration programmes are also continuing at the Company's Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.
Contact:
Archie Koimtsidis CEO / MD
Cardinal Resources Ltd.
P: +61-8-6558-0573
Bettina Filippone Renmark Financial Communications Inc
E: bfilippone@renmarkfinancial.com
P: +1-416-644-2020 or +1-514-939-3989
Alec Rowlands IR / Corp Dev
Cardinal Resources Ltd.
P: +1-647-256-1922