Cardinal Resources Limited (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) ("Cardinal" or "the Company") advises that the Company is evaluating a larger process throughput option due to an increase in their indicated resource categorisation from 4.3Moz to 6.5Moz (ASX/TSX announcement 5 March 2018 "Cardinal Upgrades Indicated Minerals Resource to 6.5Moz").
Cardinal will evaluate the economic results of the new option against the Company's current Preliminary Economic Assessment (PEA) (ASX/TSX announcement 5 February 2018 "Namdini Gold Project Preliminary Economic Assessment"), and should the economic results be favourable the Company will release an updated PEA reflecting the new option.
On review should the Company's evaluation of a larger throughput option show marginal economic results to Cardinal's PEA, released in February 2018, Cardinal will continue with the planned Preliminary Feasibility Study (PFS), as indicated in the Company's Investor Presentation.
As a result, the planned PFS due Q2 2018, would be deferred to Q3 2018, to allow for this evaluation process.
To view the Company's updated Investor Presentation, please visit:
Archie Koimtsidis CEO / MD Cardinal Resources Limited P: +61-8-6558-0573 Bettina Filippone Renmark Financial Communications Inc E: email@example.com P: +1-416-644-2020 or +1-514-939-3989 Alec Rowlands IR / Corp Dev Cardinal Resources Limited P: +1-647-256-1922
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