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Cardinal Resources Ltd.
Summary
| Project: | Namdini | |
|---|---|---|
| Deposit: | Namdini | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 3/14/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-3-2018: Cardinal Resources Ltd. announces a PEA report for its Namdini deposit at the Namdini project. PEA results incl. post-tax NPV(5%) of US$445-$649M, IRR of 31%-44% and 14yr-27yr LOM at project. This report was prepared by Golder Associates Pty Lt | |
| Resources: | (Resource): 120Mt @ 1.1g/t Au (Ind.) and 84Mt @ 1.2g/t Au (Inf.) at project | |
| CP/QP: | [Resources]: Nicolas Johnson (MPR Geological Consultants Pty Ltd.) | |
| ABSTRACT: | This report was prepared by Golder Associates Pty Ltd (Golder) at the request of Cardinal Resources Limited (Cardinal). The purpose of this report is to provide Cardinal with an independent NI 43-101 compliant, Independent Technical Report and Preliminary Economic Assessment on the Namdini Gold Project in Ghana, Africa. This Preliminary Economic Assessment (PEA) was carried out for the purpose of determining the preliminary criteria under which the Namdini Gold Project in northeast Ghana may be considered potentially economic so that a development program can be planned. This report is produced for Public Reporting under Canadian National Instrument (NI) 43-101 in Canada (NI 43-101, 2014). The PEA on the Namdini Gold Project was commissioned by Cardinal with the purpose of defining and quantifying the technical merits of the project and for determining the conditions under which the Namdini Gold Project should be progressed to the Pre-feasibility study stage for Public Reporting of Mineral Reserves. The Project is conceived as a large-scale open pit, mined for gold by conventional drill and blast, dug by face shovel configured excavators feeding 220 tonne trucks. The ore will be fed to a large conventional Carbon-In-Leach (CIL) process plant with a sulphide flotation circuit to enhance gold recovery. Gold bullion will be produced on site for sale into the international market | |
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