TIDMDALR
TORONTO, May 01, 2018 (GLOBE NEWSWIRE) -- Dalradian Resources Inc.
(TSX:DNA) (AIM:DALR) ("Dalradian" or the "Company") is pleased to
report results from 13 step-out drill holes and 30 infill drill holes at
the Curraghinalt gold deposit in Northern Ireland.
Highlights
-- Step out: 0.46 m of 42.90 g/t gold from the V75 vein in hole 17-CT-462
-- Step-out: 0.26 m of 30.30 g/t gold from the 106-16 vein in hole 17-CT-464
-- Infill: 1.54 m of 61.49 g/t gold from the Mullan vein in hole 17-CT-472
-- Infill: 0.87 m of 50.96 g/t gold from the No.1 vein in hole 17-CT-482a
-- Infill: 0.26 m of 150.50 g/t gold from the T17 vein in hole 17-CT-485
-- Infill: 0.27m of 154.00 g/t gold from the V55 vein in hole 17-CT-486
-- Infill: 1.01 m of 54.89 g/t gold from the Crow vein in hole 18-CT-491a
-- Infill: 0.54 m of 65.49 g/t gold from the Mullan vein in hole 17-CT-493
-- Infill: 0.43 m of 61.10 g/t gold from the V55 vein in hole 17-CT-493
Patrick F.N. Anderson, Dalradian's President and CEO, commented: "All of
the results for the drill program are now released to support the
imminent update to our Mineral Resource. As expected, we have both
extended the strike length of the system and identified a number of new
veins."
Details of drilling at Curraghinalt
Results are being reported for 43 drill holes for a total of 16,775
metres. Thirteen of the drill holes were drilled from surface targeting
extensions to the west of the veins included in the last resource. The
remaining 30 drill holes were infill holes, with 17 drilled from surface
and 13 drilled from underground and are in the central part of the
Curraghinalt deposit (see plan map and cross section at
http://www.dalradian.com/investor-centre/news-releases/news-releases-details/May-1-2018-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
From
Hole ID Azimuth/Dip (m) To (m) Width (m) Au (g/t) Vein System Drill Campaign
17-CT-426 177/-20 672.63 672.94 0.31 143.00 New Vein Infill
17-CT-451 205/-50 322.56 322.81 0.25 37.50 New Vein Step-out
17-CT-461 203/-50 206.89 207.15 0.26 23.00 106-16 Step-out
17-CT-461 203/-50 421.21 421.62 0.41 21.70 Bend Step-out
17-CT-462 204/-50 67.47 67.74 0.27 24.20 Slapshot Step-out
17-CT-462 204/-50 93.64 94.1 0.46 42.90 V75 Step-out
17-CT-462 204/-50 163.34 164.07 0.73 10.30 Bend-S Step-out
17-CT-463 203/-50 96.45 96.7 0.25 38.70 Sheep Dip Step-out
17-CT-463 203/-50 497.5 498.18 0.68 32.45 Bend Step-out
17-CT-464 203/-50 209.45 209.71 0.26 30.30 106-16 Step-out
17-CT-465 201/-50 164.83 165.08 0.25 33.60 Crow Step-out
17-CT-472 202/-55 163.41 164.95 1.54 61.49 Mullan Infill
17-CT-476 208/-69 116.48 116.89 0.41 30.00 106-16 Infill
17-CT-477 210/-48 126.74 127.4 0.66 19.87 Mullan Infill
17-CT-477 210/-48 279.07 279.47 0.40 33.50 No.1 Infill
17-CT-477 210/-48 294.81 296.29 1.48 25.32 106-16 Infill
17-CT-477 210/-48 448.51 448.79 0.28 140.00 Crow Infill
17-CT-478 207/-50 151.23 152.52 1.29 11.79 Mullan Infill
17-CT-478 207/-50 267.22 267.56 0.34 29.50 Causeway Infill
17-CT-478 207/-50 417.26 418.35 1.09 26.12 Bend Infill
17-CT-478 207/-50 430.88 431.26 0.38 36.80 Crow Infill
17-CT-479 207/-54 427.87 428.49 0.62 19.38 Mullan Infill
17-CT-479 207/-54 490.5 491.5 1.00 12.10 No.1 Infill
17-CT-479 207/-54 494.43 494.99 0.56 34.81 106-16 Infill
17-CT-482 160/-85 77.62 78.5 0.88 32.05 No.1 Infill
17-CT-482a 160/-85 79.13 80 0.87 50.96 No.1 Infill
17-CT-482c 160/-85 153.95 155.14 1.19 39.63 106-16 Infill
17-CT-482c 160/-85 292.73 293.26 0.53 23.80 Bend-S Infill
17-CT-483 194/-55 120.36 120.61 0.25 72.20 Sperrin Infill
17-CT-483 194/-55 269.87 270.58 0.71 14.42 No.1 Infill
17-CT-484a 145/-79 89.52 90.2 0.68 23.16 106-16 Infill
17-CT-485 200/-55 147.38 148.38 1.00 25.64 Mullan Infill
17-CT-485 200/-55 234.24 234.5 0.26 150.50 T17 Infill
17-CT-485 200/-55 249.16 249.8 0.64 16.26 V55 Infill
17-CT-485 200/-55 286.54 286.96 0.42 30.90 106-16 Infill
17-CT-485 200/-55 405.66 406.74 1.08 15.01 V75 Infill
17-CT-485 200/-55 426.22 426.87 0.65 21.47 Bend Infill
17-CT-486 212/-52 61.83 62.47 0.64 27.56 Sheep Dip Infill
17-CT-486 212/-52 248.42 248.69 0.27 154.00 V55 Infill
17-CT-486 212/-52 441.53 442.57 1.04 17.40 Crow Infill
18-CT-489 208/-60 161 162.55 1.55 28.68 Mullan Infill
18-CT-489 208/-60 304.99 305.59 0.60 19.20 106-16 Infill
18-CT-489 208/-60 395.52 396.46 0.94 16.80 V75 Infill
18-CT-491a 200/-52 169.75 170 0.25 43.30 Grizzly Infill
18-CT-491a 200/-52 269.62 269.87 0.25 44.10 No.1 Infill
18-CT-491a 200/-52 459.5 460.51 1.01 54.89 Crow Infill
18-CT-491b 200/-52 223.34 223.72 0.38 28.50 T17 Infill
18-CT-491b 200/-52 269.1 269.9 0.80 60.01 No.1 Infill
18-CT-491b 200/-52 481.52 483.32 1.8 25.18 Crow Infill
18-CT-492 192/-83 91.38 92.05 0.67 16.98 No.1 Infill
18-CT-492 192/-83 359.76 360.53 0.77 14.03 Bend Infill
18-CT-493 215/-59 160.03 160.57 0.54 65.49 Mullan Infill
18-CT-493 215/-59 179.05 180.06 1.01 13.81 Grizzly Infill
18-CT-493 215/-59 260.54 260.97 0.43 61.10 V55 Infill
18-CT-493 215/-59 277.4 278.06 0.66 29.51 No.1 Infill
18-CT-494 110/-83 92.5 93.33 0.83 19.10 106-16 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 for infill
drill holes and exceeding 5 gram-metres for step-out drill holes have
been included in the table
-- 17-CT-425, 17-CT-425a, 17-CT-430, 17-CT-434, 17-CT-448, 17-CT-448a,
17-CT-448b, 17-CT-448c, 17-CT-466, 17-CT-480, 17-CT-481, 17-CT-482b,
17-CT-484, 18-CT-487, 18-CT-488, 18-CT-490, 18-CT-491 and 18-CT-491c
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. 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.
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
May 01, 2018 02:00 ET (06:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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