Cardinal Resources: Encouraging First Pass Gold Results at Ndongo
(firmenpresse) - Cardinal Resources: Encouraging First Pass Gold Results at Ndongo
Cardinal Resources Limited (ASX/TSX: CDV) (Cardinal or the Company - https://www.youtube.com/watch?v=zOWLLySUM6c) is pleased to announce that it has received encouraging results from its first pass shallow RC drilling designed to test one of the six coincident gold-in-soil and geophysical targets on the Ndongo License within the Bolgatanga Project, which is located ~15 km north of the Companys Namdini Gold Project with an Indicated Mineral Resource of 6.5 Moz Au (Figure 2).
Highlights
- RC drilling has returned several shallow gold intersections from the first of six targets to be drilled including:
- NDRC130: 24m at 1.2 g/t Au from 2m, and 14m at 1.4 g/t Au from 46m
- NDRC131: 9m at 11.5 g/t Au from surface (includes 3m at 29.8 g/t Au)
- NDRC134: 4m at 1.2 g/t Au from 20m
- NDRC137: 8m at 1.4 g/t Au from 1m
- The results highlight the potential for discovery of gold mineralisation within the Ndongo License, located approximately 15 km north of Cardinals Namdini Gold deposit which currently contains 6.5 Moz Au Indicated and 0.5 Moz Inferred Mineral Resources.
- Prospectivity of the area is enhanced due to its proximity to the prolific Nangodi Shear Zone which is known to host major economic gold mineralisation in northeast Ghana and Burkina Faso
- Field crews are currently undertaking geological mapping, surface rock sampling, trenching and geophysical surveys to help identify new targets and refine existing targets
Cardinals Chief Executive Officer / Managing Director, Archie Koimtsidis stated:
We are highly encouraged with these early promising results at Target A - Prospect Zupeliga South (Figures 3, 4 and 5) particularly given the strong grades we are seeing near surface. These results strengthen our resolve that the Ndongo License is highly prospective with several untested drill targets which could deliver another significant gold discovery.
We are planning infill and extensional drilling with both RC and DD rigs to target the strike and dip extensions of the mineralisation which remains open.
Gold mineralisation has initially been located within an area of ~200m strike length by ~100m width within the larger Target A area which has a strike length of ~12km and a width of ~1.5km. At this early stage, mineralisation appears to be open along strike and at depth with further drilling planned.
Drill rigs will also be mobilised across the Ndongo License to test other target areas (Figures 3, 4 and 5).
The target area was originally highlighted following a soil sampling programme by AfricWest in 1997 and Etruscan Resources in 2007. A number of shallow high-grade gold intersections were returned from RAB drilling completed by Etruscan Resources in 2008. The results from the historical Etruscan Resources RAB drilling include:
- NRB-08-399: 7.5m at 1.8 g/t Au from 33m
- NRB-08-400: 19.5m at 1.2 g/t Au from 6m
- NRB-08-404: 21.0m at 2.3 g/t Au from 6m
- NRB-08-409: 18.0m at 3.4 g/t Au from surface
Note: All the historical RAB drill data was collected by Etruscan Resources Ghana Limited, now part of Endeavour Mining Corporation (For details, refer to TSX announcement by ABZU Gold on 23 January, 2013 entitled ABZU Gold Announces Drilling Mobilisation For 2013, Targets Additional Satellite Gold Mineralisation at Zupeliga).
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Figure 1: Major Gold Discoveries in Burkina Faso, Cote dIvoire (Ivory Coast) and Ghana
Ndongo Prospecting License
The Ndongo Prospecting License covers an area of 295 km2, having been recently expanded by the purchase of two exploration licence areas from Kinross Gold in August 2017 (Figure 2).
The license area is considered highly prospective for the discovery of economic gold mineralisation associated with the prolific Nangodi Shear Zone, a splay fault off the main regional-scale Bole-Bolgatanga Shear. Elsewhere, the Nangodi Shear Zone is spatially related to no fewer than four major gold discoveries, including the Companys Namdini Gold Project with 6.5 Moz Au Indicated and 0.5 Moz Au Inferred Mineral Resources, the Shaanxi Mine, the historic Nangodi Gold Mine and the 2.1 Moz Youga Gold Mine in Burkina Faso, adjacent to the Ghana border (Figures 1, 2 and 3). In addition, there are numerous historic shallow artisanal workings along many parts of this shear zone ~15 km north of the Namdini Gold Project (Figure 3).
Six exploration target areas totalling 70 km in strike length ~15 km north of the Namdini Gold Project have been initially identified for more detailed investigations through assessing geophysical, geochemical and geological data relevant to this Prospecting License (Figures 3 and 4).
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Figure 2: Cardinals Three Large Scale Tenements comprising the Bolgatanga Project and the Namdini Project
Ndongo Prospecting License - Target A - Prospect Zupeliga South
Target A was previously named Ndongo West prior to the acquisition of the surrounding Kinross ground. Numerous gold-in-soil anomalies, RAB drilling, shallow artisanal diggings and several deeper artisanal shafts all indicated the gold-bearing potential of this recently acquired area (Figures 3 and 4).
At Ndongo West, Gradient Array IP (GAIP) and ground magnetic surveys identified a very well-developed contact zone between conductive and resistive units, along which the artisanal shafts are located.
Once the former Kinross ground was added to Ndongo West, this extended the Target A strike length to 12 km and 1.5 km width and is now called Zupeliga South Prospect (Figure 5).
The prospect is underlain by weak to strongly magnetic mafic-ultramafic volcanic units which are intruded locally by granodiorite. The volcanic units are altered containing pyrite, minor pyrrhotite, magnetite, minor arsenopyrite and silica.
The geology of this prospect is more complex as folding has been identified with the fold axis orientated ~020, and the rock units striking ~300 and dipping north at ~60. The structures imply open anticlinal folds although plunges have yet to be determined.
Gold of variable grades is found within highly magnetised mafic volcanic horizons with disseminated sulphides and cross-cutting pyrite and smoky quartz veinlets. Higher gold grades occur within a sheared, less magnetic and siliceous altered inner zone within the magnetic corridor which also has cross-cutting pyrite and quartz veinlets.
Gold mineralisation has initially been located within an area of ~200 m strike length by ~100 m width within the larger Target A area which has a strike length of ~12 km and a width of ~1.5 km. At this early stage, mineralisation appears to be open along strike, especially along the fold axes, and at depth with further drilling planned to evaluate the two limbs of the anticlines.
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Figure 3: Ndongo Prospecting License - Target Areas Over Geology
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Figure 4: Ndongo Prospecting License - Target Areas Over Magnetics
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Figure 5: Ndongo Prospecting License showing local prospects
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Figure 6: Prospect Zupeliga South - Plan View - Interpretive Geology and Location of Cross Section Lines (Yellow Histograms are Historical values drilled by Etruscan Resources Ghana Ltd)
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Figure 7: Prospect Zupeliga South - Cross Section (Section Line A-A¹)
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Figure 8: Prospect Zupeliga South - Cross Section (Section Line B - B¹)
ABOUT CARDINAL
Cardinal Resources Limited (ASX/TSX: CDV) is a gold-focused exploration and development Company which holds interests in tenements within Ghana, West Africa.
The Companys Namdini Project has an Indicated Mineral Resource of 6.5 Moz of gold contained in 180 Mt at 1.1 g/t Au at a cut-off of 0.5 g/t Au and an Inferred Mineral Resource of 0.5 Moz of gold contained in 13 Mt (at) 1.2 g/t Au at a cut-off of 0.5g/t Au.
The Company is focused on the development of the Namdini Project through advancing its PFS studies, supported by additional multi-disciplinary engineering and metallurgical activities.
Exploration programmes are also continuing at the Companys Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.
For further information contact:
Archie Koimtsidis
CEO / MD
Cardinal Resources Limited
P: +61 8 6558 0573
Bettina Filippone
Renmark Financial Communications Inc
E: bfilippone(at)renmarkfinancial.com
P: +1 416 644 2020 or +1 514 939 3989
Alec Rowlands
IR / Corp Dev
Cardinal Resources Limited
P: +1 647 256 1922
Für Europa:
Swiss Resource Capital AG
info(at)resource-capital.ch
www.resource-capital.ch
To view original English news including drill results and JORC-Code, please follow the link:
https://www.asx.com.au/asxpdf/20180528/pdf/43vbjsmtr5xrzx.pdf
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Datum: 28.05.2018 - 14:54 Uhr
Sprache: Deutsch
News-ID 576169
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