Dalradian Resources Inc. Dalradian Intersects 0.74 Metres At 82.47 G/T Gold In Step-out Drilling At Curraghinalt
14 December 2017 - 6:00PM
UK Regulatory
TIDMDALR TIDMDALR
TORONTO, ONTARIO--(Marketwired - Dec. 14, 2017) - Dalradian Resources
Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") is pleased to
report results from a total of 20 drill holes from step-out and infill
drilling at the Curraghinalt gold deposit in Northern Ireland. The drill
program is ongoing, with 6 drill rigs working on surface and 3 drill
rigs focused underground. Today's results include 14 step-out holes and
6 infill holes.
Highlights
-- Step-out: 1.85 m of 19.27 g/t gold from the Crow vein in hole 17-CT-440
-- Step-out: 1.2 m of 27.31 g/t gold from the 106-16 vein in hole 17-CT-456
-- Step-out: 0.74 m of 82.47 g/t gold from the V75 vein in hole 17-CT-456
-- Infill: 1.38 m of 15.75 g/t gold from the V75 vein in hole 17-CT-443
-- Infill: 0.26 m of 92.7 g/t gold from the Slap Shot vein in hole 17-CT-443
-- Infill: 2.61m of 36.15 g/t gold from the No. 1 vein in hole 17-CT-454
-- Infill: 1.29 m of 24.73 g/t gold from the Crow vein in hole 17-CT-457a
Patrick F.N. Anderson, Dalradian's President and CEO, commented:
"Our drilling continues to deliver high grade intercepts, both within
the bounds of the previous resource and up to more than 450 metres to
the West. At this point, we have completed more than three quarters of
the planned drilling and reported results from just over half of the
holes. We are working our way through a considerable backlog of core
because of the more detailed logging our geologists are doing this year
to boost our understanding of the geotechnical characteristics of the
deposit. What we have seen so far shows that there are numerous areas
within the deposit that we should be able to convert to lower cost
mechanized mining methods because the rock strength is much better than
originally modelled. This work is vital to our updated feasibility study
planned for Q3 2018. Drilling will continue into January so that we have
the data we need to deliver a resource update in Q2 2018, which will
also feed into the FS update."
Details of drilling at Curraghinalt
Results are being reported for 20 drill holes for a total of 7,721
metres. Six of the drill holes were drilled from underground and are in
the central part of the Curraghinalt deposit (see plan map and two cross
sections at
http://www.dalradian.com/news-and-events/news-releases/news-releases-details/December-14-2017-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 would likely result in conversion of
resource ounces from the Inferred to the Indicated category. Some of the
drill holes were designed to also yield geotechnical data for a planned
update of the geotechnical model during 2017. The remaining fourteen
drill holes were drilled from surface targeting extensions to the west
of veins included in the last resource. Most drill holes were oriented
generally towards the south in order to intercept the steeply north
dipping vein array.
Selected Curraghinalt Drill Intersections
From To Width Au Vein Drill
Hole ID Azimuth/Dip (m) (m) (m) (g/t) System Campaign
17-CT-436 200/-50 89.76 90.2 0.44 41.9 V75-S Step Out
17-CT-436 200/-50 91.45 91.92 0.47 36.7 V75 Step Out
17-CT-437 205/-50 113.26 113.53 0.27 40.8 V75 Step Out
17-CT-437 205/-50 194.57 194.89 0.32 41.5 Bend Step Out
17-CT-438a 205/-50 535.6 535.98 0.38 54.5 Bend Step Out
17-CT-440 200/-50 220.95 222.8 1.85 19.27 Crow Step Out
17-CT-442 219/-73 249.43 249.76 0.33 35.1 Bend-S Infill
17-CT-443 211/-43 134.5 134.76 0.26 92.7 Slap Shot Infill
17-CT-443 211/-43 162.67 164.05 1.38 15.75 V75 Infill
17-CT-444 200/-50 216.8 217.19 0.39 29.1 Bend Step Out
17-CT-444 200/-50 286.51 286.78 0.27 72.7 Crow Step Out
17-CT-446 200/-50 236.08 236.33 0.25 49.1 Bend-S Step Out
17-CT-446 200/-50 288.33 288.59 0.26 44.9 Bend Step Out
17-CT-447 205/-50 339.64 339.95 0.31 55.7 Crow Step Out
17-CT-449 208/-50 319.5 319.87 0.37 26.6 Bend Step Out
17-CT-450 205/-50 175.4 175.82 0.42 23.8 Slap Shot Step Out
17-CT-453 180/-65 171.57 171.97 0.4 56.4 No.1 Infill
17-CT-453 180/-65 214.64 214.9 0.26 49.1 Causeway Infill
17-CT-453 180/-65 232.54 233.23 0.69 14.26 106-16 Infill
17-CT-453 180/-65 382.72 383.33 0.61 27.07 Bend Infill
17-CT-454 219/-80 80.04 82.65 2.61 36.15 No.1 Infill
17-CT-454 219/-80 236.12 236.92 0.8 22 V75 Infill
17-CT-456 206/-50 162.46 162.73 0.27 49.8 T17 Step Out
17-CT-456 206/-50 178.32 179.52 1.2 27.31 106-16 Step Out
17-CT-456 206/-50 321.86 322.6 0.74 82.47 V75-S Step Out
17-CT-456 206/-50 329.34 329.68 0.34 59.3 V75 Step Out
17-CT-456 206/-50 401.11 402.11 1 16.42 Bend Step Out
17-CT-457a 206/-55 44.4 45.7 1.3 21.13 V55 Infill
17-CT-457a 206/-55 60.16 60.5 0.34 40.3 No.1 Infill
17-CT-457a 206/-55 99.99 100.26 0.27 39.3 Causeway Infill
17-CT-457a 206/-55 173.32 174.08 0.76 33.9 V75 Infill
17-CT-457a 206/-55 232.58 232.85 0.27 43.2 Bend Infill
17-CT-457a 206/-55 295.31 296.6 1.29 24.73 Crow 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
-- 17-CT-438, 17-CT-439, 17-CT-441, 17-CT-455 and 17-CT-457 intercepted the
projected veins, but no significant mineralisation was encountered
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.
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.
Contact Information
Marla Gale
Vice President Communications
+1 416 583 5600
investor@dalradian.com
or
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat
+44 (0)20 7383 5100
or
Canaccord Genuity Limited (Broker)
Henry Fitzgerald-O'Connor / Martin Davison
+44 (0)20 7523 8000
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Dalradian Resources Inc. via Globenewswire
http://www.dalradian.com/
(END) Dow Jones Newswires
December 14, 2017 02:00 ET (07:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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