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Cardinal Resources Ltd's Drill Results Yield Visible Gold At Namdini In Ghana

Cardinal Resources Ltd (ASX:CDV) has intersected mineralised zones of gold in its two latest diamond drill holes at the Namdini project in Ghana.

The two holes were both drilled to a depth of circa 235 metres and one hole intercepted visible gold of: 1 metre at 68.3 g/t gold.

Other high grade intersections from both holes included: 15 metres at 9.49 g/t gold, 11.1 metres at 3.45 g/t gold and 4.45 metres at 6.94 g/t gold.

Further diamond drill holes are planned to evaluate the mineralised corridor.

Currently there are three drill rigs on site drilling separate holes, this includes Cardinal's company-owned drill rig.

Results from seven drill holes are at the lab, which should shortly provide a constant flow of results.

Background

Cardinal has had continued exploration success over the past six months at its flagship Namdini gold project with results of 47.5 metres at 1.30 g/t gold, 8.8 metres at 1.49 g/t gold and 5.5 metres at 2.51 g/t gold.

Cardinal has three projects in Ghana - Namdini, Bolgatanga and Subranum.

There are currently three drill rigs operating at the Namdini project so an exploration target can be estimated and announced during Q3, 2016.

Analysis

Namdini continues to display wide zones of mineralisation open in many directions.

Namdini represents a genuine new gold discovery in Ghana with previous high grade intersections of 67 metres at 3.10 g/t gold and 45 metres at 7.73g/t gold.

Cardinal continues to benefit from a rising AUD gold price (A$1655) with its share price trading up circa 185% over the previous 12 months.

Further drill results are imminent and will be highly anticipated.

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