Cardinal Resources hits more Namdini gold
THE DRILL SERGEANT: Cardinal Resources (ASX: CDV) has encountered further gold intersections at the Namdini Mining Licence, located within the company’s Bolgatanga project in Ghana.
Shallow gold hits along strike and along section include:
18 metres at 3.12 grams per tonne gold from 16m vertical depth;
17m at 3.77g/t gold from 30m vertical depth;
16m 1.29g/t gold from 14m vertical depth; and
12m at 1.67g/t gold from 14m vertical depth.
“Drill holes NMRC368‐748 and NMRC367‐751 both intersected wide, shallow zones of gold mineralisation in Zone 1 but were terminated prematurely due to caving before Zone 2 could be tested,” Cardinal Resources managing director Archie Koimtsidis said in the company’s announcement to the Australian Securities Exchange.
“Several mineralised gold intersections within drill hole NMRC372‐731 confirm the continuation of the amalgamated mineralised zones north along strike from the 51 metre intersection previously announced on 27 January 2015.
“These gold intersections are located in a similar position north along strike from the wide 51 metre gold intersection, which indicates continuity of the amalgamated gold zones.
“Two other near surface intersections of seven metres and 12 metres respectively within the same drill hole, confirm the continuation of shallow gold mineralisation within Zone 5 and a four metre intersection at 34 metres vertical depth also confirms the continuation of Zone 4 down dip.
“These very encouraging results provide additional information that will guide the next stage of the drill plan to test for further strike and depth extensions which are anticipated to expand the gold potential at Namdini.
“We have 199 samples which will be sent to the SGS laboratory in Ouagadougou, Burkina Faso this week.
“These results will be reported to the market as they become available.”
Cardinal is in the fortunate position of being the owner and operator of its own drill rig.
This has enabled it to establish an express assaying service with its drilling results, allowing it to continuously improve its drill plan strategy as new information becomes available.
The company indicated it will continue drilling selective holes, submitting the samples and be on standby as results are received.
Once the results have been assessed Cardinal can plan further drill holes to maximise expansion of the gold potential at Namdini.
“We are operating two shifts daily to finalise the balance of approximately 300 metres of the planned drill target of 3,000 metres announced on 28 November 2014,” Koimtsidis said.
Website: www.cardinalresources.com.au