CARDINAL’S GHANA PROJECTS

Cardinal is the beneficial owner of 2 gold exploration assets, the Bolgatanga Project area and the Subranum Project comprising circa 734 kmĀ² of granted tenements.

Cardinal holds interests in three prospective tenements for gold mineralization in Ghana: the Bolgatanga Project and the Namdini Project, which are located, respectively, within the Nangodi and Bole-Bolgatanga Greenstone Belts in northeast Ghana, and the Subranum Project, which is located within the Sefwi Greenstone Belt in southwest Ghana.

The main focus of Cardinal’s activity is the Namdini Project, where an initial resource of 931,000 ounces of indicated resources and 3,629,000 ounces of inferred resources of gold has been established. The map below shows the location of the Namdini Project and the Corporation’s other properties in Ghana:

Figure 1: Location of the Bolgatanga and Subranum Projects

EXPLORATION AND MINING IN GHANA

The Constitution of Ghana vests title in every mineral in its natural state to the President of Ghana on behalf of, and in trust for, the people of Ghana. The exercise of any mineral right in the form of reconnaissance, exploration or exploitation of any mineral in Ghana requires an appropriate mineral right to be issued by the Government of Ghana acting through the Minister responsible for Lands and Natural Resources, who administers, promotes and regulates Ghana’s mineral wealth through the Minerals Commission, a governmental organization established in accordance with the Minerals Commission Act 1993 (Act 450) and the Minerals and Mining Act 2006 (Act 703).



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ASX Code: CDV

Current CDV Price: $0.545

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