Dalradian Resources Inc.
TSX : DNA

Dalradian Resources Inc.

May 02, 2012 09:12 ET

Dalradian Resources Reports Assays From 14,673 Metre Curraghinalt Drill Program Including 13.8g/t Au Over 3.35m, 10.43g/t Au Over 3.75m and 22.83g/t Au Over 1.48m

TORONTO, ONTARIO--(Marketwire - May 2, 2012) - Dalradian Resources Inc. ("Dalradian" or the "Company") (TSX:DNA) has received final assays from outstanding drill holes from the 2011 and first quarter 2012 program at its Curraghinalt Deposit in County Tyrone, Northern Ireland. 54 drill holes are reported with 43 infill, and 11 step-out holes.

Drill results for the infill drilling are broadly consistent with the modelled and reported resource (PR November 30, 2012) while the step-out drilling continues to extend known mineralization along strike and down dip as well as delineating new mineralized veins.

The deposit remains open along strike, down dip and across strike.

These results mark the end of the current phase of surface infill drilling at the Curraghinalt deposit. For the next phase of the infill program, an application has been submitted to enable underground drilling from the existing workings, which we expect to commence end of Q3 this year.

Additional surface drilling will commence on July 1, 2012, following the completion and integration of on-going structural, geophysical, geochemical and geological studies to better understand and target high priority areas in the Curraghinalt trend.

Table 1: Selected drill results

Hole ID From
(m)
To
(m)
Au
Grade
g/t
Width
(m)
Vein Target
11-CT-101a 346.4 346.8 11.68 0.44 Crow Step-out 390m from the resource
11-CT-103* 775.6 775.8 155.14 0.2 New Vein Step-out
11-CT-108 118.1 120.3 10.24 2.16 M-Class Infill
11-CT-108 123.9 127.7 10.43 3.75 M-Class Infill
11-CT-109 81.8 83 15.32 1.2 No.1 Infill
11-CT-110 83.6 84.3 25.17 0.7 No.1 Infill
11-CT-110 95.3 95.4 90.88 0.15 New Vein Infill
11-CT-110 138.1 139.6 22.83 1.48 106-16 Infill
11-CT-111 75.1 76.5 13 1.41 Secondary Vein Infill
11-CT-111 143.2 143.7 25.48 0.54 M-Class Infill
11-CT-111 160.9 162.1 10.01 1.25 No.1 Infill
11-CT-111 191 192.3 18.32 1.3 106-16 Infill
11-CT-112 70.3 71.5 17.78 1.19 Road Infill
11-CT-118 110.2 111.6 12.69 1.36 Sheep Dip Infill
11-CT-121 87.9 89 14.7 1.15 Sheep Dip Infill
11-CT-138 172.2 172.9 18.17 0.71 T17 Infill
11-CT-139 108.3 108.6 87.36 0.25 Road Infill
11-CT-143 37.4 45.6 3.39 8.2 Road Infill
11-CT-143 146.9 148.8 10.01 1.86 Sheep Dip Infill
12-CT-150 200.9 201.7 58.83 0.8 Secondary Vein Infill
12-CT-150 220.1 221.3 10.73 1.2 Bend Infill
12-CT-150 305.5 308.8 13.18 3.35 Crow Infill
12-CT-151 131 132.1 21.06 1.11 106-16 Infill
12-CT-151 279.1 280 16.18 0.92 Crow Infill
12-CT-152 297.6 298.2 8.97 0.64 New Vein Step-out to south of Crow Vein and 100m south of previous drilling

* Reported in 43-101 release, but not separately released

Note:

  • M-Class Veins - are veins in the resource that have not been defined over a large area due to lack of drilling or limited strike extent and are referenced in the Micon report as Minor Veins
  • Composites calculated at 0.5g/t Au cut-off and may include up to 2m of internal dilution
  • True width is interpreted to range from 70 to 95% drilled width

Curraghinalt Step-Out Drilling

Step-out drilling, has expanded the potential resource envelope by 260m along strike on the T17, over 200m down dip on the 106-16 in some areas, 780m along strike and 200m up dip on portions of the Sheep Dip, and up to 240m down dip on the Bend. In addition, several new veins have been identified to the south of the known mineralization

Hole 11-CT-100

Tests the area between Attagh Burn and the central resource area. This hole is the second (steeper) of a scissor pair from the same collar as 11-CT-95. The hole intersected the No.1 vein as expected as well as extended the Bend by 240m down dip and 70m along strike and the T17 260m along strike from the latest resource.

Hole 11-CT-101a

This hole tests the up dip extension (480m) of mineralization identified in hole 11-CT-99, over 400m along strike to the east of the resource. Several mineralized zones were encountered. This hole confirms the up-dip continuity of mineralization on the eastern most line of drilling at Curraghinalt.

Hole 11-CT-103

Planned to test the down dip extensions of the mineralization on the eastern edge of the resource, this hole intercepted both the Crow, 3.11g/t Au over 1.9m, and Bend veins, 3.52g/t Au over 1.66m. Extending mineralization160m down dip from 11-CT-98. It also intersected five new veins to the south of the Crow including 155.14g/t Au over 0.2m and 4.27g/t Au over 2.8m. The latest resource includes the Crow intersection, but none of the other veins.

Hole 11-CT-104

Intended to target the down dip extensions of mineralization below the central portion of the resource, hole 11-CT-104 intersected both the Mullan, 43.63g/t Au over 0.16m, and T17 veins, 8.01g/t Au over 1.46m. The intercepts are 200m down dip of previous drilling and the most recent resource.

Hole 11-CT-105

This hole is a scissor below hole 11-CT-99 on the eastern most section at Curraghinalt. It is interpreted to have intersected the Sheep Dip vein approximately 780m east of the current resource with an intercept of 14.57g/t over 0.43m. A second vein intersected approximately 80m south of the interpreted position of the Crow vein and returned 9.14g/t Au over 0.87m.

Hole 11-CT-152

This hole is a 100m step-out to the south of previous drilling and targeted coincident geophysical and geochemical anomalies. Four veins were intercepted demonstrating the continuation of the system to the south. Results included 8.97g/t Au over 0.64m.

Infill Drilling

Infill drilling within the central portion of the deposit is expected to increase confidence in the resource without significantly altering the grade and tonnes.

Table 2: Results from holes 11-CT-100 to 11-CT-152

Hole ID From
(m)
To
(m)
Au
Grade
g/t
Width
(m)
Vein Target
11-CT-100* 37.1 38.3 9.04 1.15 T17 Step-out 260m from resource
11-CT-100* 150.6 150.7 53.12 0.16 No.1 Step-out
11-CT-100* 355.8 356.1 18.61 0.32 Bend 240m step-out down dip + 70 m along strike from the resource
11-CT-101a 346.4 346.8 11.68 0.44 Crow Step-out 390m from the resource
11-CT-102* 227.2 229.1 3.11 1.9 Crow Infill
11-CT-103* 473.4 475 3.52 1.66 Bend 82m step-out down dip from the resource
11-CT-103* 591.2 592.7 5.72 1.55 Crow Infill
11-CT-103* 751.5 751.7 36.04 0.21 New Vein Step-out
11-CT-103* 775.6 775.8 155.14 0.2 New Vein Step-out
11-CT-103* 833.4 833.6 33.94 0.17 New Vein Step-out
11-CT-103* 931.2 940.4 0.9 9.2 New Vein Step-out
11-CT-103* 969.9 970.4 22.38 0.48 New Vein Step-out
11-CT-103* 969.9 972.7 4.27 2.81 New Vein Step-out
11-CT-104 540.8 540.9 43.63 0.16 Sheep Dip Step-out 200m down dip of resource
11-CT-104 624.4 625.9 8.01 1.46 106-16 Step-out 200m down dip of resource
11-CT-104 629.4 629.5 71.68 0.11 106-16 Step-out 200m down dip of resource
11-CT-105 386 386.4 14.57 0.43 Road Step-out 80m along strike from resource
11-CT-105 898.8 899.7 9.14 0.87 New Vein Step-out 80 m south of crow vein
11-CT-106 287.5 288.3 10.26 0.8 T17 Infill
11-CT-107 No results above 5 gm Infill - intercepting expected low grades
11-CT-108 67 67.1 59.52 0.11 New Vein Infill intercepted new vein between the V45 and V55 veins
11-CT-108 78.9 80.9 3.36 2.08 T17 Infill
11-CT-108 110.8 112.3 3.39 1.54 No.1 Infill
11-CT-108 118.1 120.3 10.24 2.16 M-Class Infill
11-CT-108 123.9 127.7 10.43 3.75 M-Class Infill
11-CT-108 156.5 157 15.36 0.5 106-16 Infill
11-CT-109 78.6 78.9 35.23 0.27 No.1 Infill
11-CT-109 81.8 83 15.32 1.2 No.1 Infill
11-CT-109 86.9 87.6 6.6 0.76 M-Class Infill
11-CT-109 120.5 121.9 7.93 1.37 106-16 Infill
11-CT-109 132.4 133.1 13.96 0.72 M-Class Infill
11-CT-110 72.2 73.9 8.82 1.74 M-Class Infill
11-CT-110 83.6 84.3 25.17 0.7 No.1 Infill
11-CT-110 95.3 95.4 90.88 0.15 New Vein Infill
11-CT-110 133.2 134.4 5.04 1.22 106-16 Infill
11-CT-110 138.1 139.6 22.83 1.48 106-16 Infill
11-CT-111 75.1 76.5 13 1.41 Secondary Vein Infill
11-CT-111 143.2 143.7 25.48 0.54 M-Class Infill
11-CT-111 160.9 162.1 10.01 1.25 No.1 Infill
11-CT-111 191 192.3 18.32 1.3 106-16 Infill
11-CT-112 70.3 71.5 17.78 1.19 Road Infill
11-CT-113 160.2 160.5 36.8 0.29 Sheep Dip Infill
11-CT-114 No intercepts greater than 5 gm Infill was expected to intercept the Mullan vein
11-CT-115 20.5 23.5 3.24 3 Road Step-out 200m up dip of the resource
11-CT-115 130.3 132.6 2.4 2.3 Sheep Dip Infill
11-CT-116 132.1 132.9 6.3 0.8 Sheep Dip Infill
11-CT-117 51 54.4 3.34 3.42 Road Step-out 120m up dip of the resource
11-CT-118 110.2 111.6 12.69 1.36 Sheep Dip Infill
11-CT-119 160.6 162.1 4.46 1.51 Road Infill
11-CT-120 103.9 105.1 5.12 1.26 T17 Infill
11-CT-120 143.1 148.7 2.1 5.63 M-Class Infill 20m along strike of the resource
11-CT-120 143.3 143.7 21.91 0.34 Included As above
11-CT-121 87.9 89 14.7 1.15 Sheep Dip Infill
11-CT-121 128 129.5 4.84 1.5 New Vein Infill identified a new vein between the Mullan and T17 veins.
11-CT-122 46.1 48.8 5.2 2.7 M-Class Infill
11-CT-122 61 61.6 15.47 0.6 No.1 Infill
11-CT-123 No intercepts greater than 5 gm Infill expected to hit the Mullan
11-CT-124 No intercepts greater than 5 gm Infill expected to hit the Mullan
11-CT-125 No intercepts greater than 5 gm Infill expected to hit the Mullan
11-CT-126 73 75.1 3.3 2.1 Sheep Dip Infill
11-CT-127 31.6 31.7 140.8 0.18 Sheep Dip Infill
11-CT-127 128.1 129.8 5.53 1.74 T17 Infill
11-CT-127 164.6 168.2 2.03 3.58 No.1 Infill
11-CT-127 185.5 191.6 1.02 6.05 106-16 Infill 24m down dip of resource
11-CT-128 151.9 154.9 1.91 2.98 T17 Infill 13m away from resource
11-CT-129 47.1 47.8 8.86 0.73 Sheep Dip Infill
11-CT-130 127.7 127.9 44.8 0.12 New Vein New Vein in infill drilling between the Mullan and the T17
11-CT-131 No intercepts greater than 5 gm Expected to intercept the Mullan and the T17 on Infill
11-CT-132 92 93.4 3.68 1.37 New Vein New vein identified during infill drilling - expected to also intercept the Mullan vein.
11-CT-133 No intercepts greater than 5 gm Expected several veins on Infill
11-CT-134 156.6 157.2 12.57 0.6 106-16 Infill
11-CT-135 No intercepts greater than 5 gm Expected the Mullan vein during Infill drilling
11-CT-136 68.4 69.8 8.96 1.46 Road Step-out drilling intersected this vein 130m up dip of the resource.
11-CT-136 134.3 135 11.32 0.74 Sheep Dip Infill
11-CT-137 86 86.2 48.7 0.22 Road Infill
11-CT-137 165.8 166.4 9.08 0.63 Sheep Dip Infill
11-CT-138 37.8 38.7 11.81 0.88 New Vein Infill
11-CT-138 59.8 61.7 2.97 1.95 Sheep Dip Infill
11-CT-138 172.2 172.9 18.17 0.71 T17 Infill
11-CT-139 108.3 108.6 87.36 0.25 Road Infill
11-CT-140 10.5 12.7 6.5 2.21 Road Infill
11-CT-141 No intercepts greater than 5 gm Infill no intercept expected
11-CT-142 122.4 124.4 4.78 2 Secondary Vein Infill
11-CT-142 148.6 150.1 5.52 1.5 T17 Infill
11-CT-142 168.5 169.9 7.67 1.33 No.1 Infill
11-CT-142 191.3 193.8 5.12 2.52 106-16 Infill
11-CT-142 199.9 200.7 12.05 0.73 106-16 Infill
11-CT-143 37.4 45.6 3.39 8.2 Road Infill
11-CT-143 146.9 148.8 10.01 1.86 Sheep Dip Infill
11-CT-144 47.6 48.5 5.07 0.9 Sheep Dip Infill
11-CT-145 99.4 100 15.27 0.6 Secondary Vein Infill
11-CT-145 146.3 146.8 20.11 0.49 T17 Infill
11-CT-145 180.7 185.2 3.86 4.44 M-Class Infill
11-CT-145 208.1 208.8 13 0.73 106-16 Infill
11-CT-146 No intercepts greater than 5 gm A low-grade intercept of the Mullan vein was expected.
11-CT-147 114.2 114.9 10.03 0.68 New Vein Infill
11-CT-147 123.6 124.7 9.31 1.19 No.1 Infill
11-CT-147 162.3 163.1 7.8 0.83 Secondary Vein Infill
11-CT-148 167.4 168 15.55 0.6 Secondary Vein Infill drilling intersected this vein 55m down dip of the resource.
11-CT-148 170.9 171.3 30.79 0.38 T17 Infill
11-CT-148 199.5 201.8 2.71 2.26 T17 Infill
11-CT-149 138.4 142.9 2.98 4.5 No.1 Infill
11-CT-149 145.2 154.8 2.56 9.63 T17 Infill
11-CT-149 164.7 171.2 2.36 6.5 Secondary Vein Infill
12-CT-150 67.3 67.6 47 0.31 No. 1 Infill
12-CT-150 200.9 201.7 58.83 0.8 Secondary Vein Infill
12-CT-150 220.1 221.3 10.73 1.2 Bend Infill
12-CT-150 252.6 256.9 2.18 4.29 New Vein Infill
12-CT-150 305.5 308.8 13.18 3.35 Crow Infill
12-CT-151 5 5.5 20.8 0.5 T17 Infill
12-CT-151 77.2 78.1 5.73 0.92 No. 1 Infill
12-CT-151 113.4 114 13.74 0.6 M-class vein Infill
12-CT-151 131 132.1 21.06 1.11 106-16 Infill
12-CT-151 156.8 157.3 15.29 0.45 M-class vein Infill
12-CT-151 187.4 188 18.39 0.51 Secondary Vein Infill
12-CT-151 279.1 280 16.18 0.92 Crow Infill
12-CT-152 297.6 298.2 8.97 0.64 New Vein Step-out to south of Crow Vein and 100m south of previous drilling

Qualified Person

Damien Stephens, BSc.(hons), M.AIG, M.AusIMM, Exploration Manager, Dalradian Resources Inc., is the Qualified Person who supervised the preparation of the technical data in this news release.

Drill core was halved with samples averaging ranging between 0.1 and 0.25 metres in ore and up to 0.5 metres in wall rock were submitted to Omac 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 30 gram gold fire assay with an atomic absorption, conventional gravimetric and/or screen fire techniques.

About Dalradian Resources Inc.:

Dalradian Resources Inc. is a TSX-listed, Canadian based exploration company engaged in the acquisition, exploration and development of gold, base metals and other precious metals projects. With a European focus, our most advanced property is in Northern Ireland and focuses on and around the high-grade mesothermal gold deposit, Curraghinalt.

The Company's wholly owned subsidiary, Dalradian Gold Limited, holds a 100% interest, subject to certain royalties, in mineral prospecting licences and mining lease option agreements in counties Tyrone and Londonderry, Northern Ireland. The Department of Enterprise, Trade and Investment ("DETI") and the Crown Estate Commissioners ("CEC") have together granted to Dalradian base and precious metal mineral exploration rights to four contiguous areas collectively known as the Tyrone Project.

Dalradian's flagship deposit, Curraghinalt hosts an NI 43-101 compliant measured mineral resource of 0.02 MT grading 21.51g/t gold for 10,000 contained ounces, indicated mineral resource of 1.11 MT grading 12.84g/t gold for 460,000 contained ounces and inferred mineral resource of 5.45 MT grading 12.74g/t for 2,230,000 contained ounces. Dalradian's NI 43-101 report, "An updated Mineral Resource Estimate for the Curraghinalt Gold Deposit, Tyrone Project, County Tyrone and County Londonderry, Northern Ireland" is dated January 10, 2012 and effective November 30, 2011, prepared by Messrs. Hennessey and Mukhopadhyay of Micon International Limited, and is available on SEDAR at www.sedar.com.

Dalradian is preparing a preliminary economic assessment for the Curraghinalt deposit, while also carrying out an active exploration program on the surrounding 84,000 hectares of exploration licenses.

In Norway, Dalradian holds mineral rights for approximately 1.7 million hectares over four greenstone belts including an area hosting an historic silver mining district. Dalradian is actively engaged in data acquisition and analysis in advance of an early stage exploration program in Norway.

Dalradian's Common Shares are listed on the Toronto Stock Exchange under the symbol "DNA". For further information, please see www.dalradian.com.

FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the estimation of mineral resources. 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.

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; changes in project parameters as plans continue to be refined; future prices of metals; possible variations of ore 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.

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