Dalradian Resources Inc.

Dalradian Resources Inc.

October 14, 2010 10:49 ET

Dalradian Intercepts 1 Metre of 59.88 g/t of Gold at Tyrone Project

TORONTO, ONTARIO--(Marketwire - Oct. 14, 2010) - Dalradian Resources Inc. ("Dalradian" or the "Company") (TSX:DNA)(TSX:DNA.WT) has intercepted several new parallel veins and cut 1 metre of 59.88 g/t of gold in infill hole 10-CT-66 at its Curraghinalt mesothermal gold deposit in Northern Ireland (Figure 1). Dalradian has completed 11 holes totalling 2,802 metres since it began its exploration program and infill drilling on March 8, 2010. The aim of the exploration program is to identify the outer limits of the mineralized system by drilling along strike, down dip and parallel to the current resource zone. Figures, maps and complete results are appended to this release, which may be viewed at www.dalradian.com.

"We have identified new parallel mineralized zones at depth to the main resource envelope, just as we had hoped," said Patrick F. N. Anderson, Dalradian's chairman and chief executive officer. "Our exploration program going forward is aimed at expanding the size of our known resource by testing new areas at depth, along strike and at additional parallel targets. We look forward to expanding our exploration program when Major Drilling Group's additional two rigs arrive on site in November."

To date the Company has received assay results for seven holes, five of which were exploration holes designed to extend the known boundaries of the existing resource to the south and southeast. The remaining two holes were designed to fill gaps in the existing resource. Highlights from the assay results over true width intervals are:

Exploration holes, new vein intercepts
  • 10-CT-58: 0.85 m at 20.02 g/t Au
  • 10-CT-59: 0.43 m at 26.61 g/t Au and 1.41 m at 5.60 g/t Au
  • 10-CT-60: 1.84 m at 9.25 g/t Au and 0.64 m at 26.36 g/t Au
  • 10-CT-61: 0.80 m at 6.69 g/t Au
Infill holes
  • 10-CT-63: 0.80 m at 10.25 g/t Au; 1.60 m at 7.75 g/t Au; 0.60 m at 20.19 g/t Au; 1.00 m at 16.63 g/t Au; 0.60 m at 9.45 g/t Au and 0.47 m at 27.97 g/t Au
  • 10-CT-66: 1.00 m at 59.88 g/t Au (including 0.60 m at 99.00 g/t)

The assay results for the seven holes have been reviewed and the full list of vein composites are tabulated in the tables appended to this release. Omac Laboratories Ltd. (ISO/IEC 17025 accredited) of Loughrea, Republic of Ireland, performed the assays.

Conclusions and next steps

The exploration program will continue with the aim of delineating the resource envelope, infilling areas within the resource and adding resource ounces. The Company anticipates Major Drilling's two rigs to begin yielding results in the first quarter of 2011. Dalradian has also commenced evaluating additional prospects on its licences, and is establishing an exploration team in Gortin, Northern Ireland.

Qualified Person

Vaughan Williams, P. Geo, Eur. Geol., Project Manager, Aurum Exploration Services, a consultant to the Company, is the Qualified Person who supervised the preparation of the technical data in this news release.

Dalradian Resources Inc.: A golden opportunity in Northern Ireland

Dalradian is a Canadian-based exploration company working to increase its gold resources at its approximately 84,000-hectare Tyrone Project, which encompasses its flagship Curraghinalt mesothermal gold deposit, in counties Tyrone and Londonderry in Northern Ireland. Its active exploration program is underway with two drill rigs operating at the site. Dalradian's NI 43-101 report, "A Mineral Resource Estimate for the Curraghinalt Gold Deposit and a Review of a Proposed Exploration Program for the Tyrone Project, County Tyrone and County Londonderry, Northern Ireland" is dated May 10, 2010 and prepared by Micon International Limited. Dalradian's common shares and warrants are listed on the Toronto Stock Exchange under the symbols DNA and DNA.WT respectively.

Cautionary statement regarding forward-looking information

This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, spending commitments, future operations, results of exploration, future work programs, capital expenditures and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results (including mineralization) and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's prospectus under the heading "Risk Factors." There can be no assurance that such information will prove to be accurate, as actual results (including mineralization) and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

To view the appendices to this release, please visit the following link: http://media3.marketwire.com/docs/dna1014a.pdf

Contact Information

  • Dalradian Resources Inc.
    Annemarie Brissenden
    Director, Investor and Corporate Relations