Gold explorer Cardinal Resources has acquired a new multi-purpose, reverse circulation and diamond drill rig to commence its maiden drilling programme on the Ndongo prospect, which is located within the Bolgatanga project in Ghana.

The decision comes after a successful geochemical and aeromagnetic programme was carried out through 2013.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

As part of the multi-purpose rig, Cardinal Resources will complete an initial 4,000m programme of drilling within the Bolgatanga project area.

Cardinal Resources managing director Archie Koimtsidis said that the start of a maiden drilling program with a company-owned multi-purpose drill rig is a clear indication of the confidence the company has in the Bolgatanga Project tenement package.

"The SGS Laboratory in Ouagadougou, Burkina Faso, assay turn-around time is expected to take approximately two weeks," Koimtsidis said.

See Also:

"We anticipate samples to be delivered on a weekly basis which will assist with quick analysis and reporting. We expect to complete this initial drilling program by the end of Q2 2014."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company noted that the drill rig, which cost $560,000, is expected to arrive at Tema Port, Accra, Ghana, by February 2014.

Cardinal Resources’ 2013 aerial survey and soil geochemical programme identified up to 50km strike length of multiple structures within the Ndongo prospect and delineated around 8km of the structures from the Nangodi programme.

The gradient array ground IP is expected to start in January 2014 to delineate the initial drill targets.

Energy