5.1 Moz Gold – Ore Reserve.
Stock Code: TSX: CDV | ASX: CDV
Company Exposure: Gold
Project Locations: Ghana
Cardinal Resources Limited (ASX: CDV, TSX: CDV) is an African gold-focused, exploration and development company which holds interests in several projects within Ghana, West Africa. The Company’s principal focus is on the development of the Namdini Gold Project. Exploration activity is also continuing on the Company’s Bolgatanga and Subranum Projects.
Cardinal announced a positive Pre-Feasibility Study (“PFS”) on the planned development of Namdini in 2018 and recently announced an updated Ore Reserve of 5.1 Moz (138.6 Mt at 1.13 g/t Au). Cardinal continues to generate positive news flow from ongoing metallurgical optimisation work and exploration drilling at its nearby Ndongo East gold discovery in advance of the Namdini Feasibility Study (“FS”) release, expected in Q4 2019.
• Well funded gold development company with strong institutional shareholder base
• Board and Management Team with extensive project finance and development experience
• PFS confirmed Namdini to be a technically and financially robust, low‐cost mining opportunity with the potential to generate strong positive cashflows
• 5.1 Moz Ore Reserve in single, long-life pit with a low life-of-mine strip ratio
• Ongoing commitment to exploration to grow mine life following the recent Ndongo East discovery
• Reconnaissance exploration, including airborne magnetics, ground geophysics and auger drilling, continuing on other regional targets