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New drill season hits high-grade shallow gold at Ndongo East

ID: 1544551
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Significant new high-grade gold intersections from Ndongo East include:

3m (at) 29.3 g/t Au from 45m in NDDD036

3m (at) 4.1 g/t Au from 122m in NDDD037

Previous high-grade gold intersections from Ndongo East included:

9m (at) 23.3 g/t Au from 60m in NDRC248*

7m (at) 4.4 g/t Au from 14m in NDRC216*

6m (at) 12.6 g/t Au from 2m in NDRC275*

Gold mineralisation demonstrated over a strike length of approximately 1.2km at Ndongo East;

RC drilling has encountered multiple intercepts of near-surface mineralisation;

Further assay results expected from four diamond holes completed along the NE-SW structure that hosts high-grade gold discovered to date;

Diamond drilling is ongoing and will continue to evaluate the strike and depth extension of the Ndongo East mineralised system;

Multiple additional parallel mineralised structures striking NE-SW remain to be evaluated by drilling and provide high priority drill targets;

Prospectivity of the area is greatly enhanced due to its proximity to the prolific Nangodi Shear Zone which is known to host major economic gold mineralisation ? including the historic Nangodi Gold Mine.

* Refer to press releases dated 16 July 2018 and 29 August 2018 on Ndongo East

Advanced West African gold developer, Cardinal Resources Limited (ASX/TSX: CDV) (?Cardinal? or ?the Company? - http://www.commodity-tv.net/c/search_adv/?v=298369) is pleased to announce that first drilling results following the recent wet season have commenced strongly, hitting further high-grade and shallow gold mineralisation at the new Ndongo East discovery reported in mid-2018.

On 16 July and 29 August 2018, Cardinal reported several intersections of high-grade gold at its new Ndongo East discovery within the Ndongo Prospecting License and has now intersected further high-grade gold in recently completed diamond drilling of this exciting high-grade gold target. y include:



3m (at) 29.3 g/t Au from 45m in NDDD036

3m (at) 4.1 g/t Au from 122m in NDDD037

Cardinal?s Chief Executive Officer / Managing Director, Archie Koimtsidis commented:

?The Ndongo East discovery is particularly encouraging with the initial 450m strike length of strong, shallow gold mineralisation still open along strike and at depth (Figure 3).

?Beyond this initial mineralised zone, a further 750m of gold mineralisation has been intersected along strike, which currently extends overall gold mineralisation of the Ndongo East discovery to approximately 1.2km (Figure 2).

?We are increasingly encouraged at how Ndongo East is evolving, with the potential to add further high-grade gold ounces to our Maiden Probable Ore Reserve of 4.76Moz within the Namdini Gold Project located 24km to the south.

?The Ndongo East prospect lies within a larger target area of approximately 7km in length that has yet to be drill tested.

Ndongo Prospecting License

The Ndongo Prospecting License covers an area of 295 km2 and 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.

Ndongo East Prospect

The Ndongo East Prospect is located within NE-SW trending Birimian metavolcanics and metasediments. alteration with sulphides (mainly pyrite with very minor arsenopyrite).

Previously announced drilling intersected higher-grade mineralised structures concentrated in the northern portion of the shear zone, over a 450m strike length with coincident gold-in-soil and geophysical targets. o the southwest intersected 2m at 27.0 g/t Au from 10m downhole in NDRC247 which suggests a strike potential up to 1.2km of mineralised structures. (refer to Cardinal?s ASX/TSX Press Release 29 August 2018 ?Cardinal Extends Ndongo East Discovery Strike Length?).

Additional diamond drilling is continuing at Ndongo East to test the strike and depth extents of the mineralised system and to evaluate the structural components of the various lithological units.

Drill holes for this release are detailed in Schedule 1, Tables 1 and 2 below.

ABOUT CARDINAL

Cardinal Resources Limited (ASX/TSX: CDV) 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.

Cardinal confirms that it is not aware of any new information or data that materially affects the information included in its announcement of the Maiden Ore Reserve of 18 September 2018. All material assumptions and technical parameters underpinning this estimate continue to apply and have not materially changed.

For further information contact:

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(at)renmarkfinancial.com

P: +1 416 644 2020 or +1 514 939 3989

Peta Baldwin / Andrew Rowell

Cannings Purple

E: pbaldwin(at)canningspurple.com.au

P: +61 455 081 008 (PB) / +61 400 466 226 (AR)

In Europe:

Swiss Resource Capital AG

Jochen Staiger

info(at)resource-capital.ch

www.resource-capital.ch

Competent Person?s / Qualified Person?s Statement

The information in this press release is based on information prepared by Mr. Paul Abbott, a full-time employee of Cardinal Resources, who is a member of the Geological Society of South Africa. Mr. Abbott has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity which he is undertaking to qualify as a Competent Person, as defined in the 2012 Edition of the ?Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves?.

The information in this press release has been compiled and reviewed by Mr. Richard Bray, a Registered Professional Geologist with the Australian Institute of Geoscientists and Mr. Ekow Taylor, a Chartered Professional Geologist with the Australasian Institute of Mining and Metallurgy. in this report based on the information in the form and context in which it appears.

Disclaimer

This ASX / TSX press release has been prepared by Cardinal Resources Limited (ABN: 56 147 325 620) (?Cardinal? or ?the Company?).

This press release contains summary information about Cardinal, its subsidiaries and their activities, which is current as at the date of this press release.

By its very nature exploration for minerals is a high?risk business and is not suitable for certain investors.stment in Cardinal including but not limited to economic conditions, stock market fluctuations, gold price movements, regional infrastructure constraints, timing of approvals from relevant authorities, regulatory risks, operational risks and reliance on key personnel and foreign currency fluctuations.

Except for statutory liability which cannot be excluded and subject to applicable law, each of Cardinal?s officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in this press release and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this Announcement or any error or omission here from. Except as required by applicable law, the Company is under no obligation to update any person regarding any inaccuracy, omission or change in information in this press release or any other information made available to a person nor any obligation to furnish the person with any further information.

Forward?looking statements

Certain statements contained in this press release, including information as to the future financial or operating performance of Cardinal and its projects may also include statements which are ?forward?looking statements? that may include, amongst other things, statements regarding targets, anticipated timing of the feasibility study (FS) on the Namdini project, estimates and assumptions in respect of 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. These ?forward ? looking statements? are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Cardinal, 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 disclaims any intent or obligation to update publicly or release any revisions to any forward?looking statements, whether as a result of new information, future events, circumstances or results or otherwise after today?s date or to reflect the occurrence of unanticipated events, other than required by the Corporations Act and ASX and TSX Listing Rules. 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 press release 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.



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published by: PresseBox
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Date: 11/29/2018 - 09:13
Language: English
News-ID 1544551
Character count: 3726
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Firma: Swiss Resource Capital AG
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