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Cardinal Resources Ltd.
Summary
| Project: | Kungongo | |
|---|---|---|
| Deposit: | Kungongo | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 1/31/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 31-1-2019: Cardinal Resources Ltd. announces an Exploration/Drilling Update report for its Kungongo deposit at the Kungongo project. Drilling results incl. 2m @ 3.6g/t Au from 60m. Cardinal Resources Limited (ASX: CDV; TSX: CDV) (“Cardinal” or “the Compan | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Richard Bray, Ekow Taylor (Internal) | |
| ABSTRACT: | Cardinal Resources Limited (ASX: CDV; TSX: CDV) (“Cardinal” or “the Company”), an African gold focused exploration company, is pleased to present its Quarterly Activities report for the period ended 31 December 2018. Currently Cardinal holds tenements within Ghana being the Bolgatanga Project and Subranum in central Ghana (Figure 1). The Company is focused on the development of the Namdini Gold Project with a Maiden Ore Reserve of 4.76Moz and is now advancing the Bankable Feasibility Study (BFS). Exploration programmes are also underway at the Company’s Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects. The principal activity of the Company (and its subsidiaries) is gold exploration and mine development in Ghana. The Company holds interests in five tenements prospective for gold mineralisation in Ghana in two NE-SW trending PaleoProterozoic granite-greenstone belts: the Bolgatanga Project and the Namdini Gold Project (“Namdini Gold Project” or “Namdini”), which are, respectively, located 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. The main focus of activity is the Namdini Gold Project which has a maiden Probable Ore Reserve of 129.6 Mt grading 1.14 g/t Au for 4.76 Moz Au at a 0.5 g/t Au cut-off grade. The Company expects to continue to generate positive news flow from its ongoing greenfield exploration assets and Bankable Feasibility Study activities. The map below shows the location of the Namdini Gold Project and the Company’s other properties | |
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