Dalradian Resources Inc.
TSX : DNA
AIM : DALR

Dalradian Resources Inc.

December 10, 2015 02:00 ET

Dalradian Intersects 2.01 m Grading 33.52 g/t Gold at Curraghinalt

TORONTO, ONTARIO--(Marketwired - Dec. 10, 2015) - Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") announces results from 43 drill holes from its ongoing infill drilling program at the Curraghinalt Gold Deposit in Northern Ireland.

Highlights

  • 2.53 m grading 10.82 g/t gold from the Mullan vein in hole 15-CT-253
  • 2.01 m grading 33.52 g/t gold from the Slap Shot vein in 15-CT-253
  • 1.88 m grading 28.60 g/t gold from the Crow-S vein in 15-CT-259
  • 2.68 m grading 9.60 g/t gold from the 106-16 vein in 15-CT-260
  • 2.76 m grading 27.81 g/t gold from the No.1 vein in 15-CT-263
  • 2.31 m grading 20.96 g/t gold from the V75 vein in 15-CT-265a

Details of Drilling at Curraghinalt

Final results are being reported for 43 drill holes located in the central and western parts of the Curraghinalt deposit (see plan map and three cross sections at http://www.dalradian.com/news-and-events/news-releases/news-releases-details/Dec-10-2015-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, as well as three of the newly interpreted veins, Slap Shot, Sperrin and Causeway (see press release of Sept. 10, 2015 for more details). Holes 15-CT-224 through 15-CT-227, 15-CT-242 through 15-CT-251, and 15-CT-256 through 15-CT-280a were drilled from underground, while 15-CT-215, 15-CT-253 and15-CT-255 were drilled from surface.

These 43 drill holes represent 12,440 metres of the approximately 50,000 metre expanded infill drilling program. To date, 91 holes for 26,267 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.

These intercepts correlate well with and improve the current geological model in the continuity and smoothness of the individual vein wireframes.

Patrick F.N. Anderson, Dalradian's Chairman and CEO, commented:

"Curraghinalt continues to deliver in predictability and uniformity of high grade gold distribution over the breadth of the system. These are exactly the sort of results you want to see from an infill drilling program, repeatable high grade intercepts."

Selected Curraghinalt Drill Intersections

Hole ID From (m) To (m) Width (m) Au Grade (g/t) Vein System
15-CT-215 62.84 63.21 0.37 31.10 T17
15-CT-215 88.81 89.27 0.46 27.00 No.1-S
15-CT-215 98.47 100.50 2.03 9.77 No.1
15-CT-215 106.70 108.18 1.48 11.77 Causeway
15-CT-215 158.00 159.49 1.49 10.69 106-16
15-CT-224 45.54 46.00 0.46 43.50 No.1
15-CT-224 86.81 87.25 0.44 31.90 Causeway
15-CT-225 129.93 130.50 0.57 22.05 Slap Shot
15-CT-225 132.98 133.40 0.42 38.90 Slap Shot
15-CT-226 99.00 99.29 0.29 85.60 106-16-S
15-CT-226 119.68 120.35 0.67 80.97 Slap Shot
15-CT-227 59.00 61.20 2.20 5.13 Causeway
15-CT-227 156.28 157.05 0.77 109.07 V75
15-CT-242 108.41 108.66 0.25 55.60 Causeway
15-CT-242 214.50 216.30 1.80 27.17 V75
15-CT-243 137.22 138.18 0.96 23.24 106-16
15-CT-243 330.31 330.56 0.25 40.20 Crow-S
15-CT-244 113.86 114.56 0.70 78.18 106-16
15-CT-244 218.63 219.10 0.47 84.90 Bend
15-CT-245 131.40 132.82 1.42 9.19 Slap Shot
15-CT-245 157.66 158.60 0.94 36.51 V75
15-CT-245 259.17 260.76 1.59 12.40 Crow
15-CT-246 185.04 187.23 2.19 12.04 Slap Shot
15-CT-246 197.33 197.58 0.25 49.40 V75
15-CT-249 57.78 58.05 0.27 43.80 No.1
15-CT-249 104.23 104.87 0.64 35.59 106-16
15-CT-250 100.85 101.71 0.86 30.35 106-16
15-CT-250 189.92 190.44 0.52 50.30 V75-S
15-CT-251 167.65 169.40 1.75 14.52 V75
15-CT-253 193.52 193.95 0.43 24.40 Sheep Dip
15-CT-253 254.38 255.59 1.21 20.10 Sperrin
15-CT-253 274.06 276.59 2.53 10.82 Mullan
15-CT-253 380.04 381.31 1.27 12.07 106-16
15-CT-253 403.79 405.80 2.01 33.52 Slap Shot
15-CT-255 313.74 314.21 0.47 33.80 106-16
15-CT-255 343.14 343.54 0.40 34.70 Slap Shot
15-CT-256 87.87 88.45 0.58 33.88 106-16
15-CT-256 281.20 281.95 0.75 48.11 Crow-S
15-CT-257 13.96 15.29 1.33 25.51 No.1
15-CT-258 13.39 14.45 1.06 32.51 No.1
15-CT-258 145.91 146.39 0.48 38.50 V75
15-CT-259 13.51 14.78 1.27 11.49 No.1
15-CT-259 80.37 81.42 1.05 16.80 106-16
15-CT-259 237.00 237.30 0.30 83.30 Crow
15-CT-259 247.25 249.13 1.88 28.60 Crow-S
15-CT-260 16.73 17.21 0.48 64.40 No.1
15-CT-260 97.00 99.68 2.68 9.60 106-16
15-CT-260 125.57 125.90 0.33 51.10 Slap Shot
15-CT-261a 12.00 14.35 2.35 13.00 No.1
15-CT-262 12.00 14.64 2.64 20.61 No.1
15-CT-262 74.78 75.79 1.01 10.34 106-16
15-CT-262 136.41 137.06 0.65 16.43 V75
15-CT-263 12.25 15.01 2.76 27.81 No.1
15-CT-263 148.08 148.73 0.65 38.42 V75
15-CT-264 15.60 17.10 1.50 19.66 No.1
15-CT-264 89.59 91.34 1.75 7.07 106-16-S
15-CT-264 93.05 94.04 0.99 12.48 106-16
15-CT-264 151.82 152.12 0.30 42.30 V75-S
15-CT-264 172.95 173.72 0.77 38.77 V75
15-CT-264 194.61 194.88 0.27 58.10 Bend-S
15-CT-265 18.53 20.00 1.47 15.61 No.1
15-CT-265a 18.64 19.98 1.34 14.13 No.1
15-CT-265a 109.60 110.60 1.00 60.90 106-16
15-CT-265a 212.54 214.85 2.31 20.96 V75
15-CT-267 78.00 78.56 0.56 23.33 No1
15-CT-267 194.75 196.04 1.29 42.49 V75
15-CT-269 145.45 145.75 0.30 38.70 V75
15-CT-269 233.69 234.40 0.71 40.87 Bend
15-CT-270 108.62 108.91 0.29 40.30 106-16
15-CT-270 147.89 148.38 0.49 25.90 V75
15-CT-270 155.66 156.12 0.46 24.80 V75-S
15-CT-271 43.62 44.17 0.55 22.26 V55
15-CT-271 134.53 134.78 0.25 188.00 106-16-S
15-CT-271 305.73 307.30 1.57 6.63 Bend
15-CT-272 169.71 171.25 1.54 10.44 V55
15-CT-272 260.51 261.62 1.11 21.77 Bend
15-CT-275 100.02 101.55 1.53 6.72 106-16
15-CT-276 152.86 153.27 0.41 63.30 V75
15-CT-276 193.4 193.7 0.3 133.50 V75-S
15-CT-277 96.17 96.97 0.8 19.55 106-16
15-CT-280a 84.21 84.50 0.29 98.80 106-16-S
15-CT-280a 88.65 89.10 0.45 119.00 106-16

Notes

  • True widths vary depending on the vein zone intersected but are generally not less than 75% of the down hole interval
  • Intercepts are calculated using samples ≥2.0 g/t Au, and contain no more than 1.0 m of internal dilution
  • 15-CT-247, 15-CT-248, 15-CT-266, 15-CT-268, 15-CT-273, & 15-CT-274 intercepted the projected veins, but no significant mineralization was encountered
  • 15-CT-278 and 15-CT-279 were short cover holes for underground development and intercepted the projected veins, but no significant mineralization was encountered

Qualified Person

Eric Tremblay, P.Eng., Chief Operating Officer, 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".

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 and social impact assessment, infill drilling and underground exploration (885 metres of development with two test stopes).

FORWARD-LOOKING STATEMENTS

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 feasibility study, environmental and social 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.

Contact Information

  • Dalradian Resources Inc.
    Marla Gale
    Vice President Communications
    +1 416 583 5622
    investor@dalradian.com

    Grant Thornton UK LLP (Nominated Adviser)
    Philip Secrett
    +44 (0)20 7383 5100

    Canaccord Genuity Limited (Broker)
    Henry Fitzgerald-O'Connor / Martin Davison
    +44 20 7523 8000

    Finsbury (UK financial communications)
    Charles O'Brien / Sam Best
    +44 20 7251 3801
    Charles.O'Brien@Finsbury.com / Sam.Best@Finsbury.com