Cardinal Resources : 285m Mineralised Gold Zone Intersected from Surface

Microsoft Word - 22 Jan 2016 285m Mineralised Gold Zone

ASX ANNOUNCEMENT AND MEDIA RELEASE

22 January 2016

285m MINERALISED GOLD ZONE INTERSECTED FROM SURFACE

HIGHLIGHTS

• 285m mineralised gold zone intersected from surface includes:
  • 7m @ 3.06 g/t from surface
  • 18m @ 1.64 g/t from 19m vertical depth o 10.7m @ 1.19 g/t from 66m vertical depth o 58.33m @ 1.07 g/ from 90m vertical depth o 30m @ 1.05 g/ from 140m vertical depth o 17m @ 0.99 g/t from 168m vertical depth

Cardinal Resources Limited (ASX: CDV) ("Cardinal" or "the Company") announces the results of two deep diamond drill holes, NMRD443‐746 ("F" on Figure 2) and NMDD502‐768 ("I" on Figure 2) and 5 shallow pre‐ collar RC drill holes (North of "I" on Figure 2), completed on the Namdini Project ("Namdini") (Figures 1 and 2).

Commenting on today's results, Managing Director Archie Koimtsidis said:

"Drill hole NMRD443‐746 ("F" on Figure 2) intersected a 285m mineralised zone from surface confirming that wide gold mineralisation continues to be discovered at depth within the hydrothermally altered volcaniclastics and monzonite granitoids.

"These new results clearly demonstrate the significant depth potential of the wide gold mineralisation previously reported at the Namdini Project".

Cardinal expects the assay results from drill hole NMDD422‐736 ("E" on Figure 2) to be reported within 2 weeks.

Figure 1: Namdini Project Proximity Map

Figure 2: Plan View of Namdini Project

Figure 3: Diamond Drill Hole NMRD443‐746 ("F" on Figure 2)

Diamond Drill Hole NMRD443‐746 has altered volcaniclastics which are medium to fine grained with characteristic light to medium green colours. The monzonite granitoids are medium to coarse grained with very pale green colours and some pink to reddish zones. Both lithologies contain finely disseminated pyrite and arsenopyrite sulphides (Figure 4).

Figure 4: Hydrothermally altered volcaniclastics and granitoids (bottom row).

Figure 5: Diamond Drill Hole NMDD502‐768 ("I" on Figure 2)

Diamond Drill Hole NMDD502‐768 has altered volcaniclastics which are medium to fine grained with characteristic light to medium green colours. The monzonite granitoids are medium to coarse grained with very pale green colours and some pink to reddish zones. Both lithologies contain finely disseminated pyrite and arsenopyrite sulphides (Figure 6).

Figure 6: Hydrothermally altered volcaniclastics and granitoids (pink to red)