Dalradian Resources Inc.
TSX : DNA
AIM : DALR

Dalradian Resources Inc.

July 15, 2015 02:00 ET

Dalradian Intersects 4.40 Metres Grading 54.84 g/t Gold and 5.79 Metres Grading 7.12 g/t Gold at Curraghinalt

TORONTO, ONTARIO--(Marketwired - July 15, 2015) - Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") is pleased to report the first results from its ongoing infill drilling program at the Curraghinalt Gold Deposit in Northern Ireland.

Highlights

  • 4.40 m grading 54.84 g/t gold from the 106-16 vein in hole 15-CT-209
  • 5.79 m grading 7.12 g/t gold from the V75 vein in hole 15-CT-204
  • 4.74 m grading 15.26 g/t gold from the No. 1 vein, from 15-CT-214
  • 2.17 m grading 39.53 g/t gold from the Bend vein in hole 15-CT-205

Details of Drilling at Curraghinalt

Final results are being reported for twenty-five drill holes located in the central part of the Curraghinalt deposit (see plan map and two cross sections at www.dalradian.com/Home/figures-for-15July2015-drill-results-news-release). These holes were drilled at varying intervals towards the south, with the majority of holes targeting the T-17, No. 1, V-75, Bend and Crow veins. Holes 15-CT-218 and -219 were drilled from underground, while the remaining 23 holes in this release were drilled from surface.

These 25 drill holes represent 5,766 m of the 21,000 m drilling program (20,000 m of infill and 1,000 m of geotechnical drilling), 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 indicated category, in support of a pre-feasibility study currently underway. The drill program covers only 45% of the 1.7 km strike length of the current Curraghinalt resource and to a depth of approximately 400 m from surface.

The mineralized veins and zones intercepted by these drill holes correlate with the current vein wireframes, and confirm their high-grade nature.

Selected Curraghinalt Drill Intersections

Hole ID From
(m)
To
(m)
Width
(m)
Au Grade
(g/t)
Vein
System
15-CT-193 68.89 69.15 0.26 44.50 T17
15-CT-193 305.72 306.35 0.63 33.94 Crow
15-CT-194 75.58 76.00 0.42 39.60 T17
15-CT-194 99.66 103.73 4.07 5.40 No.1
15-CT-195 92.86 93.79 0.93 36.39 T17
15-CT-195 205.87 207.13 1.26 8.88 106-16
15-CT-196 49.05 49.48 0.43 26.40 No.1
15-CT-196 193.97 196.08 2.11 5.97 V75
15-CT-196 226.48 226.81 0.33 43.70 Bend
15-CT-197 29.00 29.30 0.30 62.10 T17
15-CT-197 51.60 53.00 1.40 24.60 No.1
15-CT-197 59.67 60.57 0.90 20.40 No.1 Splay
15-CT-197 206.12 208.13 2.01 13.99 V75
15-CT-197 264.45 265.64 1.19 18.96 Crow
15-CT-198 69.40 69.85 0.45 34.50 No.1 Splay
15-CT-198 114.26 116.77 2.51 6.15 106-16
15-CT-199 36.00 36.75 0.75 15.72 T17
15-CT-199 57.00 57.25 0.25 61.30 No.1
15-CT-200 65.15 66.06 0.91 26.68 V75
15-CT-201 117.79 119.25 1.46 16.18 V75
15-CT-202 156.00 156.25 0.25 17.95 V75
15-CT-203 68.49 70.32 1.83 20.40 106-16
15-CT-203 174.30 176.28 1.98 14.22 V75
15-CT-204 83.75 84.73 0.98 50.17 106-16
15-CT-204 229.21 235.00 5.79 7.12 V75
15-CT-205 24.00 24.65 0.65 15.45 No.1
15-CT-205 63.10 63.35 0.25 53.40 New Vein
15-CT-205 113.83 114.97 1.14 25.01 106-16
15-CT-205 272.30 273.30 1.00 17.23 V75
15-CT-205 311.54 313.71 2.17 39.53 Bend
15-CT-206 90.92 91.22 0.30 49.40 106-16 Splay
15-CT-207 172.35 172.60 0.25 67.90 Crow
15-CT-208 55.30 55.80 0.50 17.10 106-16
15-CT-209 63.72 68.12 4.40 54.84 106-16
15-CT-210 57.45 59.00 1.55 11.66 New Vein
15-CT-210 87.29 87.58 0.29 44.10 V75
15-CT-212 98.07 98.35 0.28 13.90 V75 Splay
15-CT-213 132.00 133.73 1.73 8.08 Crow
15-CT-214 101.03 105.77 4.74 15.26 No.1
15-CT-216 379.56 379.96 0.40 66.40 106-16 Splay
15-CT-216 382.80 385.69 2.89 5.94 106-16
15-CT-218 198.00 198.60 0.60 17.68 T17
15-CT-218 236.70 238.00 1.30 9.75 No.1
15-CT-218 277.57 280.65 3.08 7.06 106-16
15-CT-218 287.32 289.45 2.13 6.42 106-16 Splay
15-CT-219 229.85 231.72 1.87 5.55 No.1
15-CT-219 240.37 240.79 0.42 25.30 No.1 Splay

Notes

  • True width varies depending on vein zone intersected but are generally not less than 90% of width
  • Intercepts are calculated using samples ≥1.0 g/t Au, and no more than 2.0 m of internal dilution
  • 15-CT-211 intercepted the projected veins, but no significant mineralization was encountered
  • Results are still pending for 15-CT-215 and -217
  • Maps and diagrams associated with this release may also be viewed at www.dalradian.com

Qualified Person

Tim Warman, MSc, P.Geo., President, 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 were submitted to ALS Laboratories in the Republic of Ireland. Rigorous quality assurance and quality control procedures have been implemented including the use of blanks, standards and duplicates. 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 Canadian incorporated 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 with the goal of completing a pre-feasibility study in support of a planning application for construction of an operating mine at Curraghinalt. Components of the program include underground exploration, which incorporates approximately 1,000 metres of development, 20,000 metres of infill drilling, a pre-feasibility study and an environmental impact assessment.

FORWARD-LOOKING INFORMATION

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.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/dna0715fig1.pdf.

To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/dna0715fig2.pdf.

To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/dna0715fig3.pdf.

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