Cardinal Resources (ASX:CDV) (TSE:CDV) Quarterly Activities Report
abnnewswire.net
WWW: www.cardinalresources.com.au Company Overview
Perth, Jan 31, 2019 AEST (ABN Newswire) - Cardinal Resources Limited ( ASX:CDV) ( TSE:CDV) ("Cardinal" or "the Company"), an African gold focused exploration company, is pleased to present its Quarterly Activities report for the period ended 31 December 2018. Currently Cardinal holds tenements within Ghana being the Bolgatanga Project and Subranum in central Ghana (see Figure 1 in link below).
The Company is focused on the development of the Namdini Gold Project with a Maiden Ore Reserve of 4.76Moz and is now advancing the Bankable Feasibility Study (BFS).
Exploration programmes are also underway at the Company's Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.
HIGHLIGHTS
- On September 13, 2018 the Company commenced with an Enterprise Optimisation study on the Namdini Gold Project with Whittle Consulting Pty Ltd. This involves a rigorous analytical and computational process at a detailed spatial and technical level to increase the value of the project. The optimised results of which will be fed into the BFS.
- On October 18, 2018 the Company commenced with a geochemical assessment of the Namdini Gold Project and to provide a management support programme for any potential Acid and Metalliferous Drainage (AMD) associated with the development of the deposit into operation and eventual closure.
- On October 26, 2018 the Company submitted its draft Environmental Impact Statement (EIS) for the Namdini Gold Project to the Environmental Protection Agency (EPA) of Ghana.
- On November 11, 2018 BFS value added activities commenced on the Namdini Gold Project. This included optimisation studies to improve the level definition of the current pit design as well to explore opportunities in enhancing and increasing project value. These are being undertaken by the same consultants that completed the Pre-Feasibility Study (PFS) on behalf of the Company.
- On November 28, 2018 the Company announced high grade intercepts on the Ndongo East Discovery located within the Ndongo License area approximately 24km north of the Namdini deposit. Additional shallow gold intersections to the exploration drill results previously announced on July 16, 2018, were located at the new Ndongo East Discovery.
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About Cardinal Resources Ltd
 Cardinal Resources Ltd ( ASX:CDV) ( TSE:CDV) ( OTCMKTS:CRDNF) is a West African gold-focused exploration and development Company that holds interests in tenements within Ghana, West Africa.
The Company is focused on the development of the Namdini Project with a Maiden Ore Reserve of 4.76Moz and is now advancing the feasibility study.
Exploration programmes are also underway at the Company's Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.
| | Archie Koimtsidis
CEO / MD
Cardinal Resources Limited
P: +61-8-6558-0573
Alec Rowlands
IR / Corp Dev
Cardinal Resources Limited
P: +1-647-256-1922
Bettina Filippone
Renmark Financial Communications Inc
E: bfilippone@renmarkfinancial.com
P: +1-416-644-2020 or +1-514-939-3989
Peta Baldwin / Andrew Rowell
Cannings Purple
E: pbaldwin@canningspurple.com.au
P: +61-455-081-008 (PB) / +61-400-466-226 (AR) | | |
Link: Quarterly Activities and Cashflow Report
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