For thousands of other reports visit RSC's Mineral Intellingence Map
Cardinal Resources Ltd.
Summary
| Project: | Namdini | |
|---|---|---|
| Deposit: | Namdini | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 2/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-2-2018: Cardinal Resources Ltd. announces a Scoping Study report for its Namdini deposit at the Namdini project. Scoping study results incl. pre-tax NPV (5%) $913M, IRR 54%, LOM 19yrs. Cardinal Resources Limited (ASX / TSX: CDV) (“Cardinal” or “the Comp | |
| Resources: | (Resource): 120.4Mt @ 1.1g/t Au (Ind.) and 84.3Mt @ 1.2g/t Au (Inf.) at project | |
| CP/QP: | [Overall Report]: Glenn Turnbull (Golder Associates) | |
| ABSTRACT: | Cardinal Resources Limited (ASX / TSX: CDV) (“Cardinal” or “the Company”) is pleased to announce results of its Preliminary Economic Assessment (“PEA”, NI 43‐101) / Scoping Study (“SS”, JORC 2012) for the Namdini Gold Project (“Namdini”) in Ghana, West Africa. The Preliminary Economic Assessment (“PEA”) referred to in this announcement has been undertaken to determine the potential viability of an open pit mine and gold processing plant to be constructed at the Namdini Gold Project in Ghana. The purpose of the PEA isto determine the probable scale of such a plant and to determine whether to proceed with more definitive feasibility studies. This study is based on low‐level technical and economic assessments that are not sufficienttosupporttheestimationofOreReserves. Further explorationandevaluationworkandappropriate studies are required before Cardinal Resources Limited will be in a position to estimate any Ore Reserves or to provide any assuranceofaneconomicdevelopmentcase. The PEA is preliminary in nature and it includesInferred Mineral Resourcesthat are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. The PEA is based on the material assumptions outlined in this document. These include assumptions about the availability of funding. While Cardinal considers all of the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomesindicated by the PEAcanbe achieved. The PEAincludes existingIndicatedMineralResources(81%)andInferredMineralResources(19%)definedwithin the project. There is a lowerlevel of geological confidence in Inferred MineralResources and investors are cautioned that there is no certainty that further drilling will result in the upgrade to Indicated Mineral Resources,orthat the Production Target will be realized. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report