Inactive Instrument

Cardinal Resources Limited

Equities

CDV

AU000000CDV9

Cardinal Resources Ltd Quarterly Activities Report

January 31, 2019 at 04:19 am IST

Perth, Australia (ABN Newswire) - Cardinal Resources Limited (ASX:CDV) (TSE:CDV) ("Cardinal" or "the Company"), an African gold focused exploration company, is pleased to present its Quarterly Activities report for the period ended 31 December 2018. Currently Cardinal holds tenements within Ghana being the Bolgatanga Project and Subranum in central Ghana (see Figure 1 in link below).

The Company is focused on the development of the Namdini Gold Project with a Maiden Ore Reserve of 4.76Moz and is now advancing the Bankable Feasibility Study (BFS).

Exploration programmes are also underway at the Company's Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.

HIGHLIGHTS

- On September 13, 2018 the Company commenced with an Enterprise Optimisation study on the Namdini Gold Project with Whittle Consulting Pty Ltd. This involves a rigorous analytical and computational process at a detailed spatial and technical level to increase the value of the project. The optimised results of which will be fed into the BFS.

- On October 18, 2018 the Company commenced with a geochemical assessment of the Namdini Gold Project and to provide a management support programme for any potential Acid and Metalliferous Drainage (AMD) associated with the development of the deposit into operation and eventual closure.

- On October 26, 2018 the Company submitted its draft Environmental Impact Statement (EIS) for the Namdini Gold Project to the Environmental Protection Agency (EPA) of Ghana.

- On November 11, 2018 BFS value added activities commenced on the Namdini Gold Project. This included optimisation studies to improve the level definition of the current pit design as well to explore opportunities in enhancing and increasing project value. These are being undertaken by the same consultants that completed the Pre-Feasibility Study (PFS) on behalf of the Company.

- On November 28, 2018 the Company announced high grade intercepts on the Ndongo East Discovery located within the Ndongo License area approximately 24km north of the Namdini deposit. Additional shallow gold intersections to the exploration drill results previously announced on July 16, 2018, were located at the new Ndongo East Discovery.

To view the full report, please visit:
http://abnnewswire.net/lnk/VA0F1OU0

About Cardinal Resources Ltd:

Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) 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.

Source:

Cardinal Resources Ltd

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@renmarkfinancial.com
P: +1-416-644-2020 or +1-514-939-3989

Peta Baldwin / Andrew Rowell
Cannings Purple
E: pbaldwin@canningspurple.com.au
P: +61-455-081-008 (PB) / +61-400-466-226 (AR)

Latest news about Cardinal Resources Limited

Cardinal Namdini Mining Limited announced that it expects to receive $0.5 million in funding from Cardinal Resources Limited	25/22/25	CI
Cardinal Resources Limited Reports Earnings Results for the Second Quarter Ended December 31, 2020	12/21/12	CI
Cardinal Resources Limited Announces Board Restructure	01/21/01	CI
Cardinal Resources Limited(ASX:CDV) dropped from S&P/ASX All Ordinaries Index	20/21/20	CI
Shandong Gold Mining (Hong Kong) Co., Limited completed the acquisition of Cardinal Resources Limited from a group of shareholders.	19/21/19	CI
Dongshan Investments Limited cancelled the acquisition of Cardinal Resources Limited.	30/20/30	CI
Engineers & Planners Company Limited cancelled the acquisition of Cardinal Resources Limited from Nord Gold SE, Shandong Gold Mining (Hong Kong) Co., Limited, Macquarie Group Limited, Samson Rock Capital LLP and others.	30/20/30	CI
S&P/ASX 200 : Australian Shares Cheer Shortened Holiday Session; CFOAM Soars 50% on New US Contract	24/20/24	MT
Dongshan Investments Limited made an offer to acquire Cardinal Resources Limited for approximately AUD 650 million.	24/20/24	CI
Nordgold Closes Offer for Cardinal	24/20/24	CI
Nord Gold SE cancelled the acquisition of remaining 81.3% stake in Cardinal Resources Limited from MM Asset Management Inc., The Bank of Nova Scotia and other shareholders.	23/20/23	CI
Resolute to sell Ghana gold mine to China's Chifeng Jilong	15/20/15	RE
Nordgold Increases Offer Price in Relation to its Offer for Cardinal Resources	14/20/14	CI
Nordgold Extends the Offer Period in Relation to its Unconditional All-Cash Offer for Cardinal Resources	07/20/07	CI
Nordgold Extends the Offer Period in Relation to its Unconditional All-Cash Offer for Cardinal Resources	27/20/27	CI
Cardinal Resources : Nord Gold Extends Takeover Bid for Cardinal Resources Again	26/20/26	MT
Engineers & Planners Company Limited made an offer to acquire Cardinal Resources Limited from Nord Gold SE, Shandong Gold Mining (Hong Kong) Co., Limited, Macquarie Group Limited, Samson Rock Capital LLP and others for approximately AUD 560 million.	24/20/24	CI
Nord Gold Extends the Offer Period in Relation to Its Offer for Cardinal Resources Limited	20/20/20	CI
Takeovers Panel Rejects A Request of Cardinal Resources to Improve Separate Takeover Offers	17/20/17	CI
Cardinal Resources Limited Reports Earnings Results for the First Quarter Ended September 30, 2020	13/20/13	CI
Nordgold Extends the Offer Period in Relation to its Unconditional All-Cash Offer for Cardinal Resources Limited	12/20/12	CI
Nordgold Extends the Offer Period to Acquire Cardinal Resources	12/20/12	CI
Nordgold Extends its Unconditional All-Cash Offer for Cardinal Resources	29/20/29	CI
Cardinal Resources Announces Annual General Meeting of Shareholders	27/20/27	CI
Nordgold Extends its Unconditional All-Cash Offer for Cardinal Resources	26/20/26	CI

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Company Profile

Cardinal Resources Limited is a gold exploration and development company. The Company is engaged in exploration of minerals in Ghana. The Company, through its subsidiary, Cardinal Resources Ghana Limited, holds approximately five tenements prospective for gold mineralization in Ghana in two northeast-southwest trending Paleo-Proterozoic granite-greenstone belts, the Bolgatanga and Namdini Projects located within the Nangodi and Bole-Bolgatanga Greenstone Belts in northeast Ghana, and the Subranum Project located within the Sefwi Greenstone Belt in southwest Ghana. The Namdini tenement is located approximately 12 kilometers southeast from its Ndongo East Prospect and approximately six kilometers southeast of the producing Shaanxi Gold Mine. The Bolgatanga Project area and the Subranum Project comprises approximately 734 square kilometers of granted tenements. It owns and operates two drill rigs.

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