TORONTO, ONTARIO–(Marketwired – Sept. 10, 2015) – Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) (“Dalradian” or the “Company”) is pleased to report results from its ongoing infill drilling program at the Curraghinalt Gold Deposit in Northern Ireland.
- 1.24 m grading 100.01 g/t gold from the Crow vein in hole 15-CT-232
- 6.48 m grading 10.85 g/t gold from the Sperrin* vein in hole 15-CT-254
- 0.31 m grading 475.00 g/t gold from the Causeway West* vein in hole 15-CT-223
- 2.53 m grading 19.60 g/t gold from the No.1 vein in hole 15-CT-220
- 0.54 m grading 123.59 g/t gold from the V75 vein in hole 15-CT-224
- 1.98 m grading 34.57 g/t gold from the T17 vein in hole 15-CT-238
- 3.26 m grading 22.68 g/t gold from the Causeway* vein in hole 15-CT-239
- 1.40 m grading 70.24 g/t gold from the Mullan vein in hole 15-CT-240
- 1.69 m grading 43.49 g/t gold from the Mullan vein in hole 15-CT-241
* Newly interpreted veins based on recent drilling
Details of Drilling at Curraghinalt
Final results are being reported for 25 drill holes located in the central part of the Curraghinalt deposit (see plan map and three cross sections at http://www.dalradian.com/news-and-events/news-releases/Sept-10-News-Release-figures/). These holes were drilled at varying intervals towards the south, targeting most of the veins included in the last mineral resource estimate. In addition, three new veins were interpreted as a result of the infill drill program results to date: the Slap shot, Sperrin, and Causeway veins. Holes 15-CT-220 through 15-CT-233, 15-CT-242 and 15-CT-243 were drilled from underground, while 15-CT-215, 15-CT-217, 15-CT-234 through 15-CT-241 and 15-CT-252 through 15-CT-255 were drilled from surface.
These 25 drill holes represent 8,438.5 metres of the 30,000 metre infill drilling program. To date, including the press release on July 15, 2015, 50 holes for 14,204.5 metres in total have been released, with results for the remaining drill holes to be released as they are received, compiled and interpreted. The purpose of the infill program is to convert resource ounces from the Inferred to the Indicated category, in support of a feasibility study currently underway. The drill program covers only 45% of the 1.7 kilometre strike length of the current Curraghinalt resource and to a depth of approximately 450 metres from surface.
The mineralized veins and zones intercepted by these drill holes correlate with the current vein wireframes, and confirm their high-grade nature. The increased drill hole density has also facilitated the interpretation of three additional veins: Slap shot, Sperrin and Causeway.
Selected Curraghinalt Drill Intersections
- True widths vary depending on the vein zone intersected but are generally not less than 90% of the down hole interval
- Intercepts are calculated using samples ≥1.0 g/t Au, and contain no more than 2.0 m of internal dilution
- 15-CT-233, 15-CT-234 and 15-CT-237 intercepted the projected veins, but no significant mineralization was encountered
- Partial Results still pending for 15-CT-215, 15-CT-224, 15-CT-231, 15-CT-243 and 15-CT-255
- Results are still pending for 15-CT-225, 15-CT-226, 15-CT-227, 15-CT-242, 15-CT-244 through 15-CT-251 and 15-CT-253
- Maps and diagrams associated with this release may also be viewed at www.dalradian.com
Greg Hope, AusIMM, Consulting Chief Geologist, Dalradian Resources, is the Qualified Person who supervised the preparation of the technical data in this news release.
Drill core was halved with samples (averaging between 0.25 m and 0.50 m in mineralized material and up to 1 m in wall rock) submitted to ALS Laboratories in the Republic of Ireland. Quality assurance and quality control procedures are ongoing. Core samples were analyzed by a 50 gram gold fire assay with an atomic absorption finish.
ALS Laboratories is accredited by the Irish National Accreditation Board (INAB) to undertake testing, including for Ores and Minerals (INAB P9 703), as detailed in the Schedule bearing the Registration Number 173T, in compliance with the International Standard ISO/IEC 17025:2005 2nd Edition “General Requirements for the Competence of Testing and Calibration Laboratories”.
To view the figures associated with this release, please visit the following link: http://media3.marketwire.com/docs/1024485_figs.pdf
About Dalradian Resources Inc.
Dalradian Resources Inc. is a gold exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Company is in the midst of a work program in support of a planning (permitting) application for construction of an operating mine at Curraghinalt. Components of the program include a feasibility study, an environmental impact assessment, infill drilling and underground exploration (885 metres of development with two test stopes).
This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, test work and confirming results from work performed to date, estimation of mineral resources, completion of the pre-feasibility study, environmental impact assessment and underground program and the realization of the expected economics of Curraghinalt. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions, such as continued political stability in Northern Ireland, that permits required for the Company’s operations will be obtained in a timely basis in order to permit the Company to proceed on schedule with its planned development and exploration programs, that skilled personnel and contractors will be available as the Company’s operations continue to grow, that the price of gold will be at levels that render the Company’s mineral project economic, that the Company will be able to continue raising the necessary capital to finance its operations and realize on mineral resource estimates, and that the assumptions contained in the Company’s preliminary economic assessment are accurate and complete.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; actual results of reclamation activities; conclusions of economic evaluations; meeting various expected cost estimates; changes in project parameters as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled “Risk Factors” in the Company’s annual information form.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Vice President Communications
+1 416 583 5622
Canaccord Genuity Limited (Nominated Adviser and Broker)
Henry Fitzgerald-O’Connor / Oliver Donaldson
+44 20 7523 8000