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Mining Journal - Cardinal Out To Outperform Peers - Mining Journal

Tuesday, 23 January 2018

Dual-listed Cardinal Resources (ASX:CDV; TSX:CDV) is aiming high in 2018 as its experienced management team continues to de-risk its flagship, large-scale Namdini openpit gold project in Ghana.

Managing director and CEO Archie Koimtsidis said Cardinal provided investors with exposure to potentially a world-class development gold asset, with the company de-risking and advancing the project towards development with a management team with extensive in-country experience. 

"The company expects to continue to generate positive news flow from its infill drill campaign, metallurgical optimisation work, greenfield exploration assets and preliminary economic assessment due in the first quarter of 2018," he told Mining Journal.

"Given the recently completed drill programme at Namdini, growing mineral resources and expected positive PEA, the company believes it should outperform its peer group during 2018."

Namdini's indicated mineral resource has increased to 120 million tonnes grading 1.1g/t gold for 4.3 million ounces with an inferred mineral resource of 84Mt grading 1.2g/t for 3.1Moz at a 0.5g/t cutoff. 

Infill drilling has continued to point to the scope of the resource with recently produced high-grade gold results including 13m at 4.9g/t from surface and 9m at 4.1g/t from 414m.

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