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Cardinal Resources Ltd.
Summary
| Project: | Namdini | |
|---|---|---|
| Deposit: | Namdini | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 9/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-9-2017: Cardinal Resources Ltd. announces a Resource Estimation report for its Namdini deposit at the Namdini project. Updated mineral resource estimate. Cardinal Resources Limited (ASX/TSX: CDV) (“Cardinal” or “the Company”) announces an updated Miner | |
| Resources: | (Resource): 120Mt @ 1.1 g/t Au (Ind.) + 84Mt @ 1.2 g/t Au (Inf.) (at 0.5g/t Au cut-off) | |
| CP/QP: | [Resources]: Nicholas Johnson (MPR Geological Consultants Pty Ltd.) | |
| ABSTRACT: | Cardinal Resources Limited (ASX/TSX: CDV) (“Cardinal” or “the Company”) announces an updated Mineral Resource estimate for the Namdini Gold Project (“Namdini”) in Ghana, West Africa. Namdini’s Indicated Mineral Resource has increased to 120 M tonnes grading 1.1 g/t Au for 4.3 Moz Au with an Inferred Mineral Resource of 84 M tonnes grading 1.2 g/t Au for 3.1 Moz Au at a 0.5 g/t Au cut off. This was achieved with the deployment of 11 rigs which have drilled 33,406 m since the Company’s first published NI 43‐101 Mineral Resource estimate report by Roscoe Postle Associates Inc. (“RPA”) on the 6th of April 2017. Table 1 highlights Mineral Resource estimations at a series of cut‐off grades. Currently the 0.5 g/t Au cut‐off grade approximates an operational parameter that the Company believes to be applicable. This is in accordance with the guidelines of Reasonable Prospects for Eventual Economic Extraction (“RPEEE”) per the Canadian Institute of Mining, Metallurgy and Petroleum “CIM Definition Standards for Mineral Resources and Mineral Reserves” (CIM, 2014) and the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code 2012). Refer to Sections 1, 2 and 3 of the JORC Code 2012 Edition Table 1 criteria in Appendix 1. The effective date of the mineral resource estimate is 11 September 2017. Cardinal’s Chief Executive Officer / Managing Director, Archie Koimtsidis said: “We are very pleased that our intensive drilling campaign is achieving results with the overall increase in Mineral Resources and are especially delighted that so many ounces have been upgraded into the Indicated category. This upgrade is over a four‐fold increase in the Indicated category from the Mineral Resource estimate published in the April 2017 NI43‐101 technical report prepared by RPA.“ | |
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