Dalradian Resources Inc.

Dalradian Resources Inc.

December 02, 2015 02:00 ET

Dalradian Makes New Discovery 12 Kilometres From Curraghinalt: 168.0 g/t and 42.4 g/t Gold Returned From Outcrop

TORONTO, ONTARIO--(Marketwired - Dec. 2, 2015) - Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") announces results from its ongoing regional exploration program in Northern Ireland. Newly discovered quartz veins have been mapped and sampled in an area known as Rylagh, located approximately 12.5 km to the south west of the Company's Curraghinalt gold deposit. Samples from outcrop at Rylagh have returned high-grade gold results including 168.0 g/t and 42.4 g/t of gold.

Sample Sample type Gold grade (g/t) Sample description
F11601 Outcrop 139.5 50 cm quartz vein with minor sulphide mineralisation along selvedges
F11627 Outcrop 1.37 10-15 cm vuggy quartz vein with pyrite
F36011 Outcrop 168 50 cm quartz vein with minor grey sulphide mineralisation
F36012 Outcrop 42.4 50 cm quartz vein with minor sulphide mineralisation

Note: Values range from less than 0.01 g/t of gold to 168 g/t of gold for the complete dataset of 40 samples. For Rylagh location, see map at the end of this press release or on Dalradian's web site at http://www.dalradian.com/files/images/figures/2015/Regional_Working_Nov2015PR2.png.

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

"These results prove that additional high grade gold mineralisation exists in outcrop on our Northern Ireland properties. As we continue to work on the feasibility study at Curraghinalt, our regional team is busy identifying and bringing to drill readiness other high grade targets on our 84,000 hectare prospecting licences."

Several quartz carbonate veins were sampled in and around Rylagh Burn on the company's DG3 Licence. Prospecting crews discovered several veins including a sub-horizontal vein exposed for some 3-4.0 metres in the burn which returned a result of 139.5 g/t Au. Field follow up duplicate samples returned assays of 168.0 g/t Au and 42.4 g/t Au. The Rylagh prospect is understood to be underlain by the NE-SW trending Glengawna Formation (schistose chloritic psammite and semipelite); and the overlying Mullaghcarn Formation (schistose psammite with minor semipelite and pelite). Exposure is poor and confined to stream sections draining higher ground. Extensive deposits of peat and boulder clay largely obscure the local geology.

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.

Rock samples were submitted to ALS Laboratories Loughrea in the Republic of Ireland. Rock samples were analysed by a 50 gram gold fire assay with an atomic absorption finish (method Au-AA26) and gravimetric finish for over-limit samples (method Au-GRA22). Selected samples were also subjected to a 4 hour accelerated cyanide leach using LeachWELL Assay Tabs™ with an atomic absorption finish (method Au-AA15) to confirm the high grade results.

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).


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

  • Marla Gale
    Vice President Communications
    +1 416 583 5622

    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