Car­di­nal clar­i­fies Nam­dini drilling de­scrip­tions

Stockwatch Daily - - MINES & METALS - Mr. Archie Koimt­sidis re­ports

CAR­DI­NAL RE­SOURCES Ltd. is is­su­ing this press re­lease to clar­ify its dis­clo­sure on the Nam­dini gold project. The com­pany wishes to clar­ify the de­scrip­tion of drill in­ter­sec­tions high­lighted in the com­pany’s press re­leases dated Aug. 9 and Aug. 22, 2017.

In the press re­leases, the com­pany dis­closed a se­ries of in­di­vid­ual weighted av­er­age grade min­er­al­ized in­ter­cepts which were de­rived us­ing a com­mon in­dus­try guide­line. The com­pany de­fined a min­er­al­ized in­ter­cept to in­clude a min­i­mum of three con­sec­u­tive me­tres of 0.5 gram per tonne gold sep­a­rated by no more than three con­sec­u­tive me­tres of in­ter­nal di­lu­tion at less than 0.5 g/t gold.

Once the in­di­vid­ual in­ter­cepts were es­tab­lished for each hole, they were added up in sched­ule 1 and the grade was av­er­aged with­out the in­clu­sion of any ma­te­rial be­low a cut-off grade of less than 0.5 g/t gold. The com­pany wishes to clar­ify that th­ese to­tal ag­gre­gate min­er­al­ized in­ter­vals do not rep­re­sent con­tin­u­ous weighted-av­er­age in­ter­cepts. The com­pany un­der­stands that this pre­sen­ta­tion method­ol­ogy may have caused con­fu­sion in the mar­ket there­fore it withdraws this method of dis­clo­sure.

The com­pany be­lieves that this press re­lease now clar­i­fies the read­ers un­der­stand­ing.

This press re­lease was is­sued as a re­sult of a review by the On­tario Se­cu­ri­ties Com­mis­sion and Aus­tralian reg­u­la­tors.

Qual­i­fied per­son/com­pe­tent per­son state­ment

The in­for­ma­tion in this press re­lease has been re­viewed and ap­proved by Richard Bray, a reg­is­tered pro­fes­sional ge­ol­o­gist with the Aus­tralian In­stit ute of Geo­sci­en­tists, and Ekow Tay­lor, a char­tered pro­fes­sional ge­ol­o­gist with the Aus­tralasian In­sti­tute of Min­ing and Me­tal­lurgy. Mr. Bray and Mr. Tay­lor have more than five years of ex­pe­ri­ence rel­e­vant to the styles of min­er­al­iza­tion and type of de­posits un­der con­sid­er­a­tion and to the ac­tiv­ity which is be­ing un­der­taken to qual­ify as a com­pe­tent per­son, as de­fined in the 2012 edi­tion of the “Aus­tralasian Code for Re­port­ing of Ex­plo­ration Re­sults, Min­eral Re­sources and Ore Re­serves” and as a qual­i­fied per­son as de­fined by Na­tional In­stru­ment 43-101. Mr. Bray and Mr. Tay lor are full-time em­ploy­ees of Car­di­nal and hold eq­uity se­cu­ri­ties in the com­pany.

This press re­lease con­tains in­for­ma­tion ex­tracted from re­ports which are avail­able for view­ing on the com­pany’s web­site.

The com­pany con­firms it is not aware of any new in­for­ma­tion or data that ma­te­ri­ally af­fect the in­for­ma­tion in­cluded in mar­ket an­nounce­ments re­lat­ing to ex­plo­ration ac­tiv­i­ties car­ried out at the Nam­dini gold project and all ma­te­rial as­sump­tions and tech­ni­cal pa­ram­e­ters un­der­pin­ning the ex­plo­ration ac­tiv­i­ties in those mar­ket an­nounce­ments con­tinue to ap­ply and have not been changed. The com­pany con­firms that the form and con­text in which the com­pe­tent per­son’s find­ings are pre­sented have not been ma­te­ri­ally mod­i­fied from the orig­i­nal mar­ket an­nounce­ments.

Mark Con­nelly, Ma­lik Easah, Si­mon Jack­son, Archie Koimt­sidis, Robert Wil­liam Schafer, Kevin Michael Tom­lin­son

(CDV) Shares: 350,062,957

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