TORONTO, October 14, 2010 – Dalradian Resources Inc.
(“Dalradian” or the “Company”) (TSX:DNA) (TSX:DNA.WT) has intercepted
several new parallel veins and cut 1 metre of 59.88 g/t of gold in
infill hole 10-CT-66 at its Curraghinalt mesothermal gold deposit in
Northern Ireland (Figure 1). Dalradian has completed 11 holes totalling
2,802 metres since it began its exploration program and infill drilling
on March 8, 2010. The aim of the exploration program is to identify the
outer limits of the mineralized system by drilling along strike, down
dip and parallel to the current resource zone. Figures, maps and
complete results are appended to this release, which may be viewed at www.dalradian.com.
“We have identified new parallel mineralized zones at depth to the
main resource envelope, just as we had hoped,” said Patrick F. N.
Anderson, Dalradian’s chairman and chief executive officer. “Our
exploration program going forward is aimed at expanding the size of our
known resource by testing new areas at depth, along strike and at
additional parallel targets. We look forward to expanding our
exploration program when Major Drilling Group’s additional two rigs
arrive on site in November.”
To date the Company has received assay results for seven holes, five
of which were exploration holes designed to extend the known boundaries
of the existing resource to the south and southeast. The remaining two
holes were designed to fill gaps in the existing resource. Highlights
from the assay results over true width intervals are:
Exploration holes, new vein intercepts
-
10-CT-58: 0.85 m at 20.02 g/t Au
-
10-CT-59: 0.43 m at 26.61 g/t Au and 1.41 m at 5.60 g/t Au
-
10-CT-60: 1.84 m at 9.25 g/t Au and 0.64 m at 26.36 g/t Au
-
10-CT-61: 0.80 m at 6.69 g/t Au
Infill holes
-
10-CT-63: 0.80 m at 10.25 g/t Au; 1.60 m at 7.75 g/t
Au; 0.60 m at 20.19 g/t Au; 1.00 m at 16.63 g/t Au; 0.60 m at 9.45 g/t
Au and 0.47 m at 27.97 g/t Au
-
10-CT-66: 1.00 m at 59.88 g/t Au (including 0.60 m at 99.00 g/t)
The assay results for the seven holes have been reviewed and the full
list of vein composites are tabulated in the tables appended to this
release. Omac Laboratories Ltd. (ISO/IEC 17025 accredited) of Loughrea,
Republic of Ireland, performed the assays.
Conclusions and next steps
The exploration
program will continue with the aim of delineating the resource envelope,
infilling areas within the resource and adding resource ounces. The
Company anticipates Major Drilling’s two rigs to begin yielding results
in the first quarter of 2011. Dalradian has also commenced evaluating
additional prospects on its licences, and is establishing an exploration
team in Gortin, N
Qualified Person
Vaughan Williams, P. Geo, Eur. Geol., Project Manager, Aurum Exploration Services, a consultant to the
Company, is the Qualified Person who supervised the preparation of the technical data in this news release.
Dalradian Resources Inc.: A golden opportunity in Northern Ireland
Dalradian
is a Canadian-based exploration company working to increase its gold
resources at its approximately 84,000-hectare Tyrone Project, which
encompasses its flagship Curraghinalt mesothermal gold deposit, in
counties Tyrone and Londonderry in Northern Ireland. Its active
exploration program is underway with two drill rigs operating at the
site. Dalradian’s NI 43-101 report, “A Mineral Resource Estimate for the
Curraghinalt Gold Deposit and a Review of a Proposed Exploration
Program for the Tyrone Project, County Tyrone and County Londonderry,
Northern Ireland” is dated May 10, 2010 and prepared by Micon
International Limited. Dalradian’s common shares and warrants are listed
on the Toronto Stock Exchange under the symbols DNA and DNA.WT
respectively.
For further information, please contact:
Annemarie Brissenden
Director, Investor and Corporate Relations
Telephone: +1.416.572.2299
Email: investor@dalradian.com
Cautionary statement regarding forward-looking information
This
news release includes certain information that may constitute
"forward-looking information" under applicable Canadian securities
legislation. Forward-looking information includes, but is not limited
to, statements about strategic plans, spending commitments, future
operations, results of exploration, future work programs, capital
expenditures and objectives. Forward-looking information is necessarily
based upon a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties, and
other factors which may cause the actual results (including
mineralization) and future events to differ materially from those
expressed or implied by such forward-looking information, including the
risks identified in the Company's prospectus under the heading "Risk
Factors." There can be no assurance that such information will prove to
be accurate, as actual results (including mineralization) and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance on
forward-looking information. All forward-looking information contained
in this news release is given as of the date hereof and is based upon
the opinions and estimates of management and information available to
management as at the date hereof. The Company disclaims any intention or
obligation to update or revise any forward-looking information, whether
as a result of new information, future events or otherwise, except as
required by law.
|