TORONTO, Dec. 11, 2017 (GLOBE NEWSWIRE) -- Cardinal Resources Limited (ASX:CDV) (TSX:CDV) (“Cardinal” or “the Company”) reports the completion of a close spaced drilling programme in a targeted starter pit area for its flagship Namdini project. This work constitutes an important phase for the Company’s forthcoming PEA, as it supports the grades and tonnages the Company expects for the proposed starter pit area.
HIGHLIGHTS
- Excellent gold grades were returned in the upper benches of the targeted starter pit area
- Correlation of grades, ounces and tonnes between the Mineral Resource Model (September 2017) and the trial grade control model, has been completed with a very accurate reconciliation
Selected drill hole intersection results are as follows:
- 42m @ 5.6 g/t Au NMRC486
- 42m @ 4.85 g/t Au NMRC335
- 42m @ 4.8 g/t Au NMRC433
- 42m @ 4.5 g/t Au NMRC193
- 42m @ 3.9 g/t Au NMRC314
- 42m @ 3.7 g/t Au NMRC383
- 42m @ 3.4 g/t Au NMRC361
- 42m @ 3.0 g/t Au NMRC320
The selected intersections reported above are for the entire length of each drill hole (0 to 42m), at >0.5 g/t Au cut off with no more than 3m of consecutive internal dilution at <0.5 g/t Au.
Cardinal’s Chief Executive Officer / Managing Director, Archie Koimtsidis said:
“The close spaced drill testing in this initial study area where Namdini gold mineralisation is exposed at surface, is located within our targeted starter pit area.
“Today’s results are consistent with the grades, ounces and tonnes of the Resource Model (Table 1 and Figure 3). While this confirms the modelling methods and estimation techniques applied in the Mineral Resource Model estimation, these results are also a key element underpinning the production of a robust engineering study which will provide more informed views of the “ramp up” phase for the expected production scenario which will also be integrated into our Preliminary Economic Assessment expected to be completed in Q1 2018.
“An added benefit of this study is that these results will assist Cardinal with financing options for the Namdini Project”.
Detailed results of the drill programme are included below and in the attached schedules.
