Cardinal Resources: Mineralised Downdip Extension Confiremd with Step-out Hole
(firmenpresse) - MINERALISED DOWNDIP EXTENSION CONFIRMED WITH STEP-OUT HOLE
HIGHLIGHTS
- Namdini mineralised gold zone extended down dip with step-out diamond drilling
- 200m wide mineralised gold zone extends to 290m vertical depth
- Significant gold mineralised intersections within Section O include:
- 54m (at) 2.00 g/t gold
- 47.5m (at) 1.30 g/t gold
- 27m (at) 1.56 g/t gold
- 12m (at) 2.61 g/t gold
Cardinal Resources Limited (ASX: CDV) (Cardinal or the Company) is pleased to report the results of a down dip RC/diamond drill hole, NMRD483-749, recently completed on the Namdini Project (Namdini), Ghana (Figure 1).
This drill hole has enabled Section O to be compiled with a 200m wide gold mineralised zone extending to a 290m vertical depth (Figure 2). This mineralised section confirms the continuation of wide gold mineralisation at depth within the Namdini Project.
The potential of the Namdini Project to host a world-class gold project continues to be confirmed by the intersection of long mineralised zones, including 54m (at) 2.00 g/t Au, 47.5m (at) 1.30 g/t Au and 27m (at) 1.56 g/t Au.
Recently received assay results have enabled Section J to be compiled with a 300m mineralised zone within altered volcaniclastics, granitoids and diorites (Figure 5, Appendix 2 and Appendix 3).
The hydrothermally altered volcaniclastics, granitoids and diorites intersected in these drill holes are mineralised throughout which confirm that gold mineralisation is consistently being intersected along strike and at depth.
Infill diamond drilling has been completed on 50m spacings, between previous 100m spaced diamond drill sections, to confirm and enhance the gold mineralisation previously intersected within the volcaniclastics, granitoids and diorites (Figure 1).
Assay results are pending for a further 13 diamond and 9 RC drill holes, which should provide a constant flow of results in the weeks ahead. The Company has divided up its core submissions between SGS Laboratories in Burkina Faso and Ghana to assist in accelerating receipt of assay results (Figure 1).
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Figure 1: Location of drill holes within Section O and Section J
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Figure 2: Drill Hole NMRD483-749 with mineralised zone of 200m extending to 290m
NMRD483-749 intersected 192m of gold mineralisation within hydrothermally altered volcaniclastics, granitoids and diorites from 100m to 292m vertical depths with multiple zones of mineralisation down the drill hole, including 7m (at) 1.14 g/t, 27m (at) 1.56 g/t, 12m (at) 2.61 g/t and 3m (at) 3.41 g/t, confirming continuity of mineralisation with depth (Figures 2 to 4).
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Figure 3: Mineralised volcaniclastic and granitoid within 27m (at) 1.56 g/t Au zone (NMRD483-749)
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Figure 4: Mineralised diorite with quartz veining within 12m (at) 2.61 g/t Au zone (NMDD483-749)
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Figure 5: Section J (NMDD432-740 and NMDD428-758) showing a 300m mineralised zone)
Drill hole NMRD483-749 was drilled from surface through unmineralised metasediments to 78m by Reverse Circulation (RC) method. The drill rig was aligned at -65 dip drilling east which allows for the shallowing of the drill hole with depth. The azimuth was set at 095 instead of 100 (normal to the strike of the formations) as the borehole trace usually deflects to the right with depth due to the clockwise rotation of the drill rods.
The RC portion of the drill hole was surveyed at the top of the drill hole which showed that the drill rig had been set up correctly. Once harder rock was encountered, PVC casing was inserted for stability of the RC portion of the drill hole which was drilled to 78m.
HW steel casing was inserted to 78m for stability of the hole and HQ size core was then drilled to the final depth of 414.05m. This drill hole was surveyed at a depth of 90m down hole, then every 30m down the remainder of the drill hole to determine the dip and azimuth of the drill hole with depth.
Drill holes NMDD433-740 and NMDD428-758 were drilled from surface. The soft near surface materials were drilled with a Triple Tube core barrel to reduce core losses. Once harder rock was encountered, HW steel casing was inserted for stability of the holes and HQ size core was then drilled to their final depths of 360.50m and 277.37m respectively.
The drill holes were surveyed every 30m down the drill holes to determine their dips and azimuths. The core was orientated at each drill run using a digital instrument. The core was marked showing the base of the drill hole, then the core from each drill run was laid in a length of angle iron to fit the core together so that the orientation line could be drawn along the length of the core at the drill site. Geotechnical parameters were measured using this orientation line as the datum line.
The core was photographed, cut in half and then quartered. One quarter of the core was consistently sampled, with the remaining three quarters stored in metal core trays and placed on metal racks under cover in the core shed at Bolgatanga. The quarter core samples were sent to the SGS Laboratory in Tarkwa, Ghana for sample preparation and fire assay.
Infill Diamond Drilling Program
The 50m spaced infill diamond drilling programme designed to evaluate the NNE trending gold mineralised corridor has been completed. All of the infill diamond drill holes were orientated to drill across this mineralised corridor to confirm the continuation of gold mineralisation along strike and at depth (Figure 1).
Updip RC Drilling Program
The recently announced shallow updip RC drilling programme (ASX announcement dated 17 June 2016) is in progress along the eastern side of the Namdini mineralised corridor. The RC drill holes are positioned on each previously drilled 50m section line so that 3 drill holes will be on each section (Figure 1).
Where water is encountered and dry samples cannot be obtained, the drilling to planned depths will be competed by diamond drilling.
Once all assay results are received, all drill data collected will form the basis for Cardinal to provide guidance on an initial Exploration Target, anticpated to be reported during Q3 2016.
Namdini Geology
The Namdini Project is located within a Paleo-Proterozoic Greenstone Belt comprising Birimian metavolcanics, volcaniclastics and metasediments located in close proximity to a major 30 km ~N-S regional shear zone with splays. These rock units are intruded by felsic monzonite granitoids and quartz diorites.
The gold mineralisation is developed within foliated, sheared and highly altered volcaniclastic rocks containing sulphides (pyrite and arsenopyrite). The host rocks dip approximately 60 W and strike 010. Hydrothermal alteration of the volcaniclastics is comprised of silica, iron carbonate (ankerite), sericite, epidote and chlorite. The highly altered rocks contain disseminated gold-bearing sulphides and are distinguished from the grey, unaltered, unmineralised host rocks by characteristic pale to medium green colours.
The monzonite granitoids are medium to coarse grained with quartz vein stockworks and are usually altered to pale green epidote with patches of pink to reddish albite (alkali feldspar). Sulphides of pyrite and arsenopyrite are contained within these granitoids.
The monzonite granitoid intrusive is considered to have been the heat engine which remobilised gold bearing sulphide rich fluids which altered the host rocks and precipitated the gold mineralisation within them.
The NNE-SSW trending corridor containing the gold mineralisation is bounded on both east and west sides by foliated metasediments of varying compositions, also dipping 60W and striking 010.
The quartz diorites contain primary pyrite sulphides which are weakly mineralised when unaltered. However, the diorites become partly mineralised when they are hydrothermally altered or sheared with quartz veining, or when some mineralised zones of altered volcaniclastics or granitoids occur within them.
Monitoring Of Drilling Programs
Cardinals technical and management team evaluates all of the available data on a daily basis with the main focus being the expansion of the gold potential.
Cardinal, together with the contract drill rigs, are providing the samples for express assaying services from SGS Laboratories in Ghana and Burkina Faso. This enables the Company to continuously improve its drill plan strategy as new information becomes available.
For further information contact:
Archie Koimtsidis
Managing Director
Cardinal Resources Limited
P: +233 (0)26 190 5220
Skype: cardinal.archie
To view a copy of this announcement, see here.
(http://cardinalresources.com.au/uploads/documents/2016/7_Jul_2016_Mineralised_Down_Dip_Extension_Confirmed.pdf )
Disclaimer
This ASX announcement (Announcement) has been prepared by Cardinal Resources Limited (ABN: 56 147 325 620) (Cardinal or the Company). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this Announcement.
This Announcement contains summary information about Cardinal, its subsidiaries and their activities which is current as at the date of this Announcement. The information in this Announcement is of a general nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in Cardinal.
By its very nature exploration for minerals is a high risk business and is not suitable for certain investors. Cardinals securities are speculative. Potential investors should consult their stockbroker or financial advisor. There are a number of risks, both specific to Cardinal and of a general nature which may affect the future operating and financial performance of Cardinal and the value of an investment in Cardinal including but not limited to economic conditions, stock market fluctuations, gold provide movements, regional infrastructure constraints, timing of approvals from relevant authorities, regulatory risks, operational risks and reliance on key personnel and foreign currency fluctuations.
Certain statements contained in this announcement, including information as to the future financial or operating performance of Cardinal Resources and its projects, are forward-looking statements that:
- may include, among other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, capital expenditures, and are or may be based on
- assumptions and estimates related to future technical, economic, market, political, social and other conditions;
- are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Cardinal Resources, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; and,
- involve known and unknown risks and uncertainties that could cause actual events or results to
- differ materially from estimated or anticipated events or results reflected in such forward-looking statements.
Cardinal Resources disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. The words believe, expect, anticipate, indicate, contemplate, target, plan, intends, continue, budget, estimate, may, will, schedule and similar expressions identify forward-looking statements.
All forward looking statements made in this announcement are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future
performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
No verification: Although all reasonable care has been undertaken to ensure that the facts and opinions given in this Announcement are accurate, the information provided in this Announcement has not been independently verified.
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Datum: 07.07.2016 - 14:59 Uhr
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