The Ndongo East discovery is about 20 kilometres north of Cardinal’s Namdini Gold Project which has an indicated resource of 6.5 million ounces of gold.
Cardinal’s Bolgatanga Project (Ndongo, Bongo, Kungongo) and the Namdini Project
Highlight results from the latest drilling include:
• 2 metres at 27.0 g/t gold from 10 metres;
• 6 metres at 12.6 g/t gold from 2 metres; and
• 7 metres at 2.2 g/t gold from 55 metres.
Cardinal’s shallow reverse circulation (RC) drilling has encountered multiple intercepts of near-surface gold mineralisation over a strike length of about 1.2 kilometres.
The new results add to the significant drill intersections reported on July 16, 2018 from the Ndongo East discovery.
Cardinal chief executive officer and managing director Archie Koimtsidis said: “These latest shallow, significant gold intersections have provided a possible threefold extension to the original 400 metres strike length discovery zone to 1.2km in length.
“The Ndongo East prospect lies within a larger target area of approximately 7 kilometres in strike length which has yet to be RC drill tested.”
Cardinal recently completed all the required documentation for a US$25 million senior secured credit facility from globally renowned resource investment firm Sprott.
The US$25 million facility will provide working capital and funding to complete the preliminary and definitive feasibility studies (PFS and DFS) for Cardinal’s Namdini Gold Project.
Koimtsidis added: “We are increasingly encouraged at how Ndongo East is evolving with the potential to add high-grade gold ounces to our 6.5 million ounce Namdini Gold Project located only 20 kilometres to the south and we expect the recommencement of the drilling as soon as possible after the wet season ends during October-November 2018.”