Cardinal Resources has been named as the winner of the 2019 Thayer Lindsley Award by the Prospectors and Developers Association of Canada (PDAC).
Night drilling at the Namdini project.
The award which is open to individuals and teams of any nationality, honours the memory of Thayer Lindsley, considered to be one of the greatest mine finders of all time. The award itself recognises an individual or a team of explorationists credited with a recent significant mineral discovery anywhere in the world. In the case of Cardinal, it recognises the company’s 2014 discovery of the Namdini gold deposit in north-eastern Ghana, which is considered one of the most significant gold discoveries in West Africa so far this century.
Cardinal’s CEO and MD, Archie Koimtsidis, said he was honoured and delighted to accept the award on behalf of the entire Cardinal Resources team.
“There had been some previous indications of gold mineralisation along the Nangodi greenstone belt in north-eastern Ghana, but until we began the reverse circulation (RC) drilling programme in 2014, the area was largely unexplored,” he said.
After Cardinal’s first successful exploration pass, encouraging results from subsequent RC holes gave the company confidence to step out 600 m along strike of the mineralised trend with its first diamond drill hole in 2015.
“The step-out intersected 15 m at 0,9 g/t gold, 10 m at 1,0 g/t gold and 41 m at 1,2 g/t gold,” said Koimtsidis. “This marked the beginning of a programme of widely spaced drill fences (100 m along strike) designed to determine the extent of the Namdini deposit which is currently 1 100 m long and 350 m wide. We currently have an ore reserve of 4,76 Moz and it will be mined as an open pit.
“On the strength of this, and other consistently positive results, we went to Hartleys in Perth to raise A$5 million to further investigate the project,” said Koimtsidis.
“We completed the pre-feasibility study on Namdini in September 2018, and have moved to a full Definitive Feasibility study now which we expect to be completed in late 2019,” Koimtsidis said.
Cardinal Resources was presented with its award at the PDAC gala dinner and awards ceremony in Toronto on March 5.
Photo courtesy of Cardinal Resources.