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Cardinal Resources Starter Pit Infill Drilling Results

Mining News - Published on Thu, 25 Jul 2019

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Cardinal Resources Limited announced positive results from a selected area within the proposed starter pit that encompasses the first 2 to 3 years of production at its flagship Namdini Gold Project in Ghana. The infill drill programme results highlight the robustness of the Company's current Mineral Resource and further supports the Company's Project Finance plans.


Infill drilling tested down to the base of the proposed starter pit to a vertical depth of 140m

Selected in fill drill hole intersections:

89m @ 2.3 g/t Au from surface in NMRC794
83m @ 3.5 g/t Au from surface in NMRC745
78m @ 4.1 g/t Au from surface in NMRC738
74m @ 2.6 g/t Au from surface in NMRC743
69m @ 3.9 g/t Au from 99m in NMRC762
60m @ 2.1 g/t Au from surface in NMRC766
42m @ 3.2 g/t Au from 138m in NMRC771
40m @ 3.7 g/t Au from 10m in NMRC767
14m @ 4.1 g/t Au from 146m in NMDD172

Intersections are reported above 0.5 g/t Au using a minimum width of 3m, with no more than 3m of internal dilution of less than 0.5 g/t Au.

Archie Koimtsidis, Cardinal's Chief Executive Officer, Managing Director, said: "This close spaced infill drill programme, along with the previous Grade Control programme within our proposed starter pit, confirms the robustness of our Mineral Resource, thereby providing higher confidence in predicting operational outcomes. The infill results are also key to underpinning the delivery of a high-quality engineering study which will provide more informed economic data during the critical project finance payback period. An added benefit of these infill drill results is enhancing confidence in the first 2 to 3 years production from the proposed starter pit. This will assist Cardinal with project financing options for the Namdini Project with a declared open pit 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)."

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Posted By : Rabi Wangkhem on Thu, 25 Jul 2019
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