Cardinal Resources Ltd: Feasibility Study Update
Perth, Australia - Cardinal Resources Ltd. (ASX:CDV) (FRA:C3L) (OTCMKTS:CRDNF) (TSE:CDV) refers to its announcement of 4 June 2019 in relation to its proposed Feasibility Study release, scheduled for Q3, 2019.The Feasibility Study is progressing well having received the awaited Maelgwyn (AachenTM) laboratory data.
Study Consultants, Technical Committee, Legal, ASX and TSX compliance reviews are currently in progress.
The Company is on track to deliver the Feasibility Study during the month of October 2019.
The Feasibility Study examines the proposed construction of a 9.5mtpa processing plant with a 5.1 million oz Ore Reserve* at the Company's flagship Namdini Gold Project in Ghana, West Africa (ASX/TSX Press Release dated 3 April 2019).
*Ore Reserve of 5.1Moz (138.6 Mt @ 1.13 g/t Au; 0.5 g/t cut-off), inclusive of 0.4Moz Proved (7.4 Mt @ 1.31 g/t Au; 0.5 g/t cut-off) and 4.7Moz Probable (131.2 Mt @ 1.12 g/t Au; 0.5 g/t cut-off).
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.
Source:
Cardinal Resources Ltd.
Contact:
Archie Koimtsidis CEO / MD Cardinal Resources Ltd. P: +61-8-6558-0573 Alec Rowlands IR / Corp Dev Cardinal Resources Ltd. P: +1-647-256-1922 Andrew Rowell Cannings Purple E: arowell@canningspurple.com.au P: +61-400-466-226 Peta Baldwin Cannings Purple E: pbaldwin@canningspurple.com.au P: +61-455-081-008