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TSE: DNA.CA

AIM: DALR

Gold:

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Dalradian intersects 0.74 metres at 82.47 g/t gold in Step-out Drilling at Curraghinalt

Dec 14, 2017

Download this Press Release (PDF 264 KB)

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

Hole ID Azimuth/Dip From
(m)
To
(m)
Width
(m)
Au
(g/t)
Vein
System
Drill
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


Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat
+44 (0)20 7383 5100


Canaccord Genuity Limited (Broker)
Henry Fitzgerald-O'Connor / Martin Davison
+44 (0)20 7523 8000

DNA: 1.00  -0.01
DALR: 0.60  +0.00
Gold: 1,302.36  -3.27

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1.00 -0.01 -0.99% Volume: 163,200 May 25, 2018 03:59 PM