Cardinal Resources: New Discovery in Ghana
A new discovery of over 5 million ounces in northern Ghana
Cardinal Resources is a gold exploration development company based in Perth. Markedly, they’ve made a new discovery of over 5 million ounces in northern Ghana which has been a historic producer of gold. The Namdini Mining Licence is located approximately 50km south-east of the regional town of Bolgatanga. Namdini lies within the Nangodi Greenstone Belt. The belt is one of a series of southwest – northeast trending granite-greenstone belts. It is host to significant gold mineralization in Ghana and Burkina Faso.
“We’ve brought it all the way to a definitive feasibility study and are now construction ready. And we are one of the very few companies, if maybe the only company who have done so.”, says Director of Corporate Development, Alec Rowlands.
Further, Cardinal is currently working on its funding requirements. “The CapEx here is slightly over $400 million dollars US. We want to build a 9.5 million ton per annum facility.” says, Rowlands.
According to Rowlands, the Company will be producing virtually gold only that will produce, on average, a little bit less than 300k ounces a year for 14 years out of one large operation.
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