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Microsoft Word - 6 Jul 2016 Quarterly Activities and Cashflow Report
ASX ANNOUNCEMENT AND MEDIA RELEASE
6 July 2016
QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDED 30 JUNE 2016
HIGHLIGHTS
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Wide mineralised zones at Namdini Project between 190 and 310m widths
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Mineralisation along strike confirmed with infill Diamond drilling
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High gold values continue to be intersected along strike
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Significant intersections include:
• 98m @ 1.31 g/t
• 80m @ 1.06g/t
• 79m @ 1.34 g/t
• 59m @ 1.42 g/t
• 55m @ 1.62 g/t
• 49m @ 1.39 g/t
• 42m @ 3.37 g/t
• 31m @ 1.57 g/t
• 9m @ 4.62 g/t
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Ground geophysical surveys completed over Namdini, Kungongo and Ndongo Far East Prospects
Cardinal Resources Limited (ASX: CDV) ("Cardinal" or "the Company"), an African gold focused exploration company, is pleased to present to shareholders its Quarterly Activities report for the period ended 30 June 2016. Currently Cardinal holds four tenements within the Bolgatanga Project, with Subranum comprised of a single tenement in central Ghana (Figure 1).
Commenting on the quarters activities, Managing Director Archie Koimtsidis said:
"We are extremely encouraged by continued intersections of wide gold mineralisation reported from the 50m spaced infill Diamond drilling on the Namdini Project.
"These gold intersections range from surface to 300m vertical depths which considerably enhances the gold potential of this project.
"These results confirm that wide gold mineralisation continues for approximately 650m north along strike from the original Confirmed Gold Mineralised Zone on the Namdini Licence, with a total strike length of approximately 900m (Figure 3)."
Figure 1: Cardinal Resources Tenements in Ghana
BOLGATANGA PROJECT, GHANA
Infill Diamond drilling and updip reverse circulation (RC) drilling continued at the Namdini Project during the quarter.
NAMDINI PROJECT
The Namdini tenement is located ~12 km SE from Cardinal's Ndongo East Prospect and ~6 km SE of the producing Shaanxi Gold Mine (Figure 2).
Figure 2: Namdini Project Proximity Map
Figure 3: Namdini Drill Hole Collars of Diamond, RC and RD (Diamond tail) Drill Holes
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Cardinal Resources
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CODE : CDV.AX |
ISIN : AU000000CDV9 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cardinal Res. is a exploration company based in Australia. Cardinal Res. is listed in Australia. Its market capitalisation is AU$ 375.8 millions as of today (US$ 287.3 millions, € 237.2 millions). Its stock quote reached its lowest recent point on July 25, 2014 at AU$ 0.02, and its highest recent level on December 24, 2020 at AU$ 1.11. Cardinal Res. has 349 589 984 shares outstanding. |