Cardinal Resources Limited: High Grade from Surface at Namdini Project
(firmenpresse) -
HIGH GRADE GOLD FROM SURFACE AT NAMDINI PROJECT
HIGHLIGHTS
- 119m (at) 1.72 g/t including 41m (at) 2.57 g/t from surface
- First shallow updip drill hole widens gold mineralisation across strike to 275m
- Significant gold mineralised intersections within this section include:
o 119m (at) 1.72 g/t gold - from surface
o 98m (at) 1.31 g/t gold - from surface
o 49m (at) 1.39 g/t gold
o 31m (at) 1.57 g/t gold
o 9m (at) 4.62 g/t gold
21 July 2016, Cardinal Resources Limited (ASX: CDV) (Cardinal or the Company) https://www.youtube.com/watch?v=zOWLLySUM6c is pleased to report the results of the first shallow updip RC drill hole, NMRC389-767, recently completed on the Namdini Project (Namdini), Ghana (Figure 1).
Cardinals Managing Director, Archie Koimtsidis said:
This first shallow updip drill hole confirms that the mineralised gold corridor has been widened across strike, thereby significantly enhancing the gold potential of the Namdini project.
This updip drill hole is also confirms the presence of near surface gold mineralisation within the Namdini mineralised corridor.
The width and tenor of gold that continues to be encountered with our drilling at Namdini to date is certainly pointing towards a very large gold system being present within the 900m x 300m that has been the focus of our drilling so far. On top of this, Namdini has great exploration upside given that mineralisation remains open at depth and along strike.
Infill diamond drill holes NMDD393-725 and NMDD391-745 (see ASX announcement dated 17 June 2016) with updip RC hole NMRC389-767 have enabled Section F to be compiled, with a 275m wide gold mineralised zone (Figure 2). This mineralised section confirms the continuation of wide gold mineralisation at depth and along strike and near surface 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 119m (at) 1.72 g/t from surface, 98m (at) 1.31 g/t Au from surface and 49m (at) 1.39 g/t Au, as well as a high grade gold zone of 9m (at) 4.44 g/t Au within diamond drill hole NMDD391-745.
Assay results are pending from 11 diamond and 12 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).
http://www.irw-press.at/prcom/images/messages/2016/36368/21 Jul 2016 High Grade Gold From Surface at Namdini v8_PRCOM.001.jpeg
Figure 1: Location of drill holes NMDD393-725, NMDD391-745 and NMRC389-767
http://www.irw-press.at/prcom/images/messages/2016/36368/21 Jul 2016 High Grade Gold From Surface at Namdini v8_PRCOM.002.jpeg
Figure 2: Drill holes NMDD393-725, NMDD391-745 and NMRC389-767 with 275m mineralised zone
NMRC389-767 intersected 104m of gold mineralisation within hydrothermally altered volcaniclastics from 0m to 104m vertical depth, within a mineralised zone of 275m, confirming continuity of mineralisation with depth (Figures 2 and 3).
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Figure 3: Hydrothermally altered volcaniclastics within 119m (at) 1.72 Au zone (NMRC389-767)
The drill rig was aligned for this RC drill hole at -60 dip drilling east which allows for the shallowing of the drill holes with depth. The azimuth was set at 095 instead of 100 (normal to the strike of the formations) as the borehole traces usually deflect to the right with depth due to the clockwise rotation of the drill rods.
The RC drill hole was surveyed at the top of the drill hole to confirm that the drill rig had been set up correctly. Once harder rock was encountered, PVC casing was inserted for stability of the RC drill hole which was drilled to the planned depth of 127m. The drill hole was also surveyed at the base of the drill hole to determine the dip of the drill hole.
NMDD393-725 intersected 209m of gold mineralisation within hydrothermally altered volcaniclastics from 40m to 249m vertical depths with multiple zones of mineralisation down the drill hole, including 31m (at) 1.57 g/t, 49m (at) 1.39 g/t and 15m (at) 1.27 g/t, confirming continuity of mineralisation with depth (Figures 2 and 4).
http://www.irw-press.at/prcom/images/messages/2016/36368/21 Jul 2016 High Grade Gold From Surface at Namdini v8_PRCOM.004.png
Figure 4: Hydrothermally mineralised and altered volcaniclastics (NMDD393-725)
NMDD391-745 intersected 144m of mineralisation within hydrothermally altered volcaniclastics from surface to 144m vertical depths, including 98m (at) 1.31 g/t and 9m (at) 4.62 g/t confirming continuity of mineralisation with depth (Figures 2 and 5).
http://www.irw-press.at/prcom/images/messages/2016/36368/21 Jul 2016 High Grade Gold From Surface at Namdini v8_PRCOM.005.jpeg
Figure 5: Hydrothermally mineralised and altered volcaniclastics (NMDD391-745)
Drill holes NMDD393-725 and NMDD391-745 were cored from surface. The soft near surface materials were drilled with a Triple Tube core barrel to reduce core losses. Once harder rock was encountered, then HW steel casing was inserted for stability of each hole and HQ size core was drilled to their final depths of 373.14m, 276.9m 127m and espectively.
The drill rigs were aligned for both diamond drill holes at -65 dip drilling east which allows for the shallowing of the drill holes with depth. The azimuth was set at 095 instead of 100 (normal to the strike of the formations) as the borehole traces usually deflect to the right with depth due to the clockwise rotation of the drill rods.
The drill holes were surveyed near the top of each drill hole, then every 30m down the hole to determine the dip and azimuth of the drill holes with depth.
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 then cut in half and then cut in half again. 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 Burkina Faso for sample preparation and fire assay.
All of the completed infill diamond and updip RC drill holes were orientated to drill across this mineralised corridor to confirm the continuation of gold mineralisation along strike and at depth.
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
Cardinal Resources Limited ABN 56 147 325 620
www.cardinalresources.com.au
Ghana: Durugu Residential Area, Kumbosco, Bolgatanga, Ghana P: +233 (0) 261905220 SKYPE: cardinal.archie
Australia: Level 1, 115 Cambridge Street, West Leederville, Perth, 6007 P: +61 (8) 9322 6600 F: +61 (8) 9322 6610
To view the entire press release please follow the link: http://cardinalresources.com.au/uploads/documents/2016/21_Jul_2016_High_Grade_Gold_From_Surface_at_Namdini.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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