AMN - GHANA: Cardinal hits more high-grade gold at Namdini

Cardinal Resources has received positive drilling results from an area within the proposed starter pit that encompasses the first two to three years of production at its flagship Namdini Gold Project in Ghana. The project boasts an ore reserve of 5.1 million ounces of gold with 4.7 million ounces in the probable category and the remainder in the proved category.

The infill drill results highlight the robustness of Cardinal’s current resource and further supports the company’s project finance plans.

Best results from drilling down to the base of the proposed starter pit to a vertical depth of 140 metres include 89 metres at 2.3 g/t gold from surface; 83 metres at 3.5 g/t from surface; and 78 metres at 4.1 g/t from surface.

Cardinal CEO and managing director Archie Koimtsidis said: “This close-spaced infill drill program, along with the previous grade control program within our proposed starter pit, confirms the robustness of our mineral resource, thereby providing higher confidence in predicting operational outcomes.

“The infill results are also key to underpinning the delivery of a high‐quality engineering study which will provide more informed economic data during the critical project finance payback period.

“An added benefit of these infill drill results is enhancing confidence in the first two to three years production from the proposed starter pit.

“This will assist Cardinal with project financing options for the Namdini project with a declared open pit ore reserve of 5.1 million ounces of gold.”

The company also recently received high-grade results from diamond drilling at the Ndongo East discovery, about 24 kilometres north and within hauling distance of Namdini.

Results from a 15-hole, 883-metre program provide further confidence to potentially define high-grade satellite pits.

Geophysical surveys and auger soil drilling are now underway to identify additional drill targets within the broader target area which spans about 7 kilometres.

Results include: 5.3 metres at 13.9 g/t gold from 78 metres; 5.5 metres at 3.8 g/t from 31 metres; 3.7 metres at 3.3 g/t from 59 metres; 2.7 metres at 7.7 g/t from 19 metres; and 2 metres at 18.3 g/t from 59 metres.

Koimtsidis said the Ndongo East discovery was particularly encouraging as drilling had now delineated a well-defined mineralised zone with a strike length of more than 150 metres within the initial 450-metre mineralised discovery zone.

“These new shallow high-grade results further increase our level of confidence to continue drilling along strike and at depth as we have only drilled down to approximately 80 metres vertically below surface.

“Along strike from this initial 450-metre discovery zone, we are enthusiastic about the additional corridor of 750 metres of gold mineralisation previously intersected, which may provide a large number of additional shallow gold targets.”

www.cardinalresources.com.au