Dalradian intersects 1.05 metres at 53.64 g/t gold from infill drilling at Curraghinalt
TORONTO, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Dalradian Resources Inc. (TSX:DNA) (AIM:DALR) (“Dalradian” or the “Company”) is pleased to report results from 16 drill holes from infill drilling at the Curraghinalt gold deposit in Northern Ireland. The drill program is ongoing, with five drill rigs working on surface and two drill rigs underground.
Highlights
- 0.44 m of 318.00 g/t gold from the Bend vein in hole 17-CT-445
- 0.34 m of 216.00 g/t gold from the No. 1 vein in hole 17-CT-452
- 1.14 m of 45.54 g/t gold from the T17 vein in hole 17-CT-459
- 0.73 m of 49.80 g/t gold from the V55 vein in hole 17-CT-459
- 0.86 m of 41.85 g/t gold from the 106-16 vein in hole 17-CT-459
- 1.05 m of 53.64 g/t gold from the Mullan-S vein in hole 17-CT-470
- 0.70 m of 73.89 g/t gold from the Crow vein in hole 17-CT-471
Patrick F.N. Anderson, Dalradian's President and CEO, commented:
“These high-grade infill drill results support delivery of a positive resource update in Q2 2018, which will then feed into an updated feasibility study planned for Q3 2018.”
Details of drilling at Curraghinalt
Results are being reported for 16 drill holes for a total of 6,798 metres. 13 holes were drilled from underground and are in the central part of the Curraghinalt deposit (see plan map and cross section at http://www.dalradian.com/news-and-events/news-releases/news-releases-details/February-20-2018-News-Release-Figures). These holes were drilled at varying intervals targeting some of the veins included in the last mineral resource estimate (see the Company’s Technical Report, as defined below, dated January 25, 2017) in zones where increased drill hole density will likely result in the conversion of resource ounces from the Inferred to the Indicated category.
These intercepts correlate with and improve the current geological model with respect to the continuity and smoothness of the individual vein wireframes.
Selected Curraghinalt Drill Intersections
| Hole ID | Azimuth/Dip | From (m) | To (m) | Width (m) | Au (g/t) | Vein System | Drill Campaign |
| 17-CT-445 | 184/-52 | 100 | 100.62 | 0.62 | 34.35 | T17 | Infill |
| 17-CT-445 | 184/-52 | 232.62 | 232.94 | 0.32 | 69.70 | Slap Shot | Infill |
| 17-CT-445 | 184/-52 | 294.43 | 295.15 | 0.72 | 24.32 | V75 | Infill |
| 17-CT-445 | 184/-52 | 340.72 | 341.16 | 0.44 | 318.00 | Bend | Infill |
| 17-CT-445 | 184/-52 | 343.46 | 343.78 | 0.32 | 48.90 | Bend | Infill |
| 17-CT-452 | 211/-67 | 56.95 | 57.29 | 0.34 | 216.00 | No.1 | Infill |
| 17-CT-458a | 219/-85 | 379.9 | 380.75 | 0.85 | 31.77 | Bend | Infill |
| 17-CT-459 | 180/-71 | 132.49 | 133.63 | 1.14 | 45.54 | T17 | Infill |
| 17-CT-459 | 180/-71 | 178.56 | 178.89 | 0.33 | 66.50 | V55-S | Infill |
| 17-CT-459 | 180/-71 | 182.31 | 183.04 | 0.73 | 49.80 | V55 | Infill |
| 17-CT-459 | 180/-71 | 193.74 | 194.35 | 0.61 | 29.08 | No.1 | Infill |
| 17-CT-459 | 180/-71 | 255.87 | 256.73 | 0.86 | 41.85 | 106-16 | Infill |
| 17-CT-459 | 180/-71 | 259.51 | 259.76 | 0.25 | 131.50 | Slap Shot | Infill |
| 17-CT-459 | 180/-71 | 298.62 | 298.88 | 0.26 | 55.10 | Slap Shot-S | Infill |
| 17-CT-459 | 180/-71 | 348.66 | 349.02 | 0.36 | 32.30 | V75 | Infill |
| 17-CT-467 | 208/-84 | 88.2 | 88.78 | 0.58 | 42.68 | 106-16 | Infill |
| 17-CT-467a | 208/-84 | 92.03 | 93.07 | 1.04 | 18.38 | 106-16 | Infill |
| 17-CT-467a | 208/-84 | 118.93 | 119.18 | 0.25 | 45.40 | Slap Shot | Infill |
| 17-CT-468 | 213/-52 | 163.12 | 163.47 | 0.35 | 26.90 | V75 | Infill |
| 17-CT-468 | 213/-52 | 303.24 | 303.94 | 0.70 | 20.23 | Crow | Infill |
| 17-CT-469 | 212/-82 | 73.4 | 74.14 | 0.74 | 20.78 | No.1 | Infill |
| 17-CT-469 | 212/-82 | 149.1 | 149.81 | 0.71 | 22.33 | 106-16 | Infill |
| 17-CT-469a | 212/-82 | 72.81 | 73.29 | 0.48 | 62.00 | No.1 | Infill |
| 17-CT-469a | 212/-82 | 312.6 | 312.87 | 0.27 | 60.50 | Bend | Infill |
| 17-CT-470 | 201/-50 | 259.65 | 259.92 | 0.27 | 46.30 | Road | Infill |
| 17-CT-470 | 201/-50 | 465.63 | 466.68 | 1.05 | 53.64 | Mullan-S | Infill |
| 17-CT-470 | 201/-50 | 471.64 | 472.04 | 0.40 | 29.60 | Mullan | Infill |
| 17-CT-471 | 202/-50 | 281.25 | 281.65 | 0.40 | 31.10 | No.1 | Infill |
| 17-CT-471 | 202/-50 | 354.95 | 355.22 | 0.27 | 61.30 | Slap Shot-S | Infill |
| 17-CT-471 | 202/-50 | 455.75 | 456.45 | 0.70 | 73.89 | Crow | Infill |
| 17-CT-473 | 208/-61 | 75.18 | 75.45 | 0.27 | 54.80 | 106-16-S | Infill |
| 17-CT-473 | 208/-61 | 106.07 | 106.97 | 0.90 | 33.33 | 106-16 | Infill |
| 17-CT-474 | 208/-90 | 195.33 | 195.6 | 0.27 | 70.00 | Slap Shot-S | Infill |
| 17-CT-474 | 208/-90 | 208.97 | 209.26 | 0.29 | 117.00 | V75 | Infill |
| 17-CT-474 | 208/-90 | 303.48 | 303.98 | 0.50 | 20.83 | Bend | Infill |
| 17-CT-474 | 208/-90 | 339.35 | 340.45 | 1.10 | 24.70 | Crow | Infill |
| 17-CT-475 | 200/-62 | 361.97 | 362.25 | 0.28 | 29.90 | Mullan-S | Infill |
| 17-CT-475 | 200/-62 | 367.17 | 367.67 | 0.50 | 65.65 | Mullan | Infill |
Notes
- True widths vary depending on the vein zone intersected but generally average 80% of the down hole interval
- Intercepts are calculated using samples greater than or equal to 2.0g/t Au, and contain no more than 1.0m of internal dilution
- Only those mineralized intercepts exceeding 10 gram-metres have been included in the table. Accordingly, there are two drill holes, 17-CT-458 and 17-CT-460, that are not listed in the above table even though they intercepted the projected veins
Qualified Person
Eric Tremblay, P. Eng., Chief Operating Officer and Greg Hope, MSc, MAIG, Exploration and Geology Manager, are the Qualified Persons who supervised and reviewed 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. Rigorous quality assurance and quality control procedures, including the use of blanks, standards and duplicates, identified no material issues. Core samples were analyzed by a 50 gram gold fire assay with either an atomic absorption, or a gravimetric finish for samples initially reporting over 100.0 g/t gold.
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".
For additional details on the Curraghinalt high-grade lode gold deposit , please refer to the Company’s technical report titled “NI 43-101 Feasibility Study Technical Report on the Curraghinalt Gold Project Northern Ireland” (the “Technical Report”), dated January 25, 2017 and prepared by Garett Macdonald, P.Eng., Michael Makarenko, P.Eng., Indi Gopinathan, P.Eng. and Stacy Freudigmann, P.Eng., all of JDS Energy & Mining Inc., and Jean-François Couture, P.Geo., Bruce Murphy, P.Eng., Cam Scott, P.Eng., all of SRK Consulting (Canada) Inc., and William Harding, C.Geol., of SRK Consulting (UK) Ltd., all of whom are independent Qualified Persons as defined by NI 43-101. The Technical Report is available on the Company’s website and on SEDAR at www.sedar.com.
About Dalradian Resources Inc.
Dalradian Resources Inc. is a mineral exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Curraghinalt Project is in permitting, with exploration ongoing to build on the positive feasibility study released in January 2017.
For more information:
Marla Gale
Vice President Communications
+1 416 583 5600
investor@dalradian.com
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat
+44 (0)20 7383 5100
Numis Securities Limited (Broker)
John Prior / James Black / Paul Gillam
+44 (0)20 7260 1000
FORWARD LOOKING STATEMENTS
This press release contains “forward-looking information” which may include, but is not limited to, statements with respect to future financial or operating performance of the Company and its subsidiaries and its mineral project, the future price of metals, test work and confirming results from work performed to date, the estimation of mineral resources and mineral reserves, the realization of mineral resource and mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing of the development of new deposits, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage, the timing and possible outcome of pending regulatory matters and the realization of the expected production, economics and mine life of the Curraghinalt gold deposit.
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 Dalradian’s operations will be obtained in a timely basis in order to permit Dalradian to proceed on schedule with its planned exploration and mine development, construction and production programs, that skilled personnel and contractors will be available as Dalradian’s operations commence and continue to grow towards production and mining operations, that the price of gold will be at levels that render the Dalradian’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 and mineral reserve estimates and current mine plans, that the assumptions contained in the Company’s Technical Report dated January 25, 2017 are accurate and complete and that a permitting application for mine construction will be approved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Dalradian 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 and future exploration activities; the actual results of reclamation activities; conclusions of economic evaluations; meeting various expected cost estimates; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; 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 for the year ended December 31, 2016 dated March 23, 2017.
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 press 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.