Africa-focused gold miner Cardinal Resources is evaluating a larger process throughput option for its Namdini project, in Ghana, following an increase in the project’s indicated resource categorisation from 4.3-million ounces to 6.5-million ounces.
Cardinal will evaluate the economic results of the new option against its current preliminary economic assessment (PEA) and, should the economic results be favourable, Cardinal will release an updated PEA reflecting the new option.
Should the evaluation show marginal economic results to Cardinal’s PEA, released in February, Cardinal will continue with the planned preliminary feasibility study (PFS).
As a result, the planned PFS which was due for completion in the second quarter of this year, has been deferred to the third quarter, to allow for the evaluation process.
The Namdini licence is located about 50 km south-east of the regional town of Bolgatanga, in northern Ghana.