Dalradian Resources Inc. Dalradian Commences 30,000 Metre Surface Drilling Program
July 20 2017 - 2:00AM
UK Regulatory
TIDMDALR
Dalradian commences 30,000 metre surface drilling program
TORONTO, ONTARIO -- (Marketwired - July 20, 2017) - Dalradian Resources
Inc. (TSX: DNA/AIM: DALR) ("Dalradian" or the "Company") is pleased to
announce that it has commenced its 30,000 metre surface drilling program
as part of the Company's 2017 exploration program. At this time, there
are 5 drill rigs mobilized and operating. The surface drilling will be
primarily step-out holes, with the objective of investigating extensions
of the Curraghinalt deposit, which is open in all directions.
Patrick F. N. Anderson commented, "The 2017 work program will enhance
our Curraghinalt Gold Project through new drilling, geotechnical,
geological and engineering studies. Infill drilling from our underground
program has confirmed high-grade mineralization within the existing
resource envelope. We are now stepping out of that envelope to test the
extensions of those high-grade veins. Over our seven years of
exploration at Curraghinalt we have been successful in expanding the
mineral resource more than seven-fold."
"Concurrently, results from test mining and processing of Curraghinalt
mineralized material have confirmed that the deposit responds well to
mechanized mining methods, ounces recovered in mining are consistently
higher than predicted by the resource model and recoveries of more than
94% are achievable."
About Dalradian Resources Inc.
Dalradian Resources Inc. is a gold exploration and development company
that is focused on advancing its high-grade Curraghinalt Gold Project
located in Northern Ireland, United Kingdom.
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/Harrison Clarke
+44 (0)20 7383 5100
Canaccord Genuity Limited (Broker)
Henry Fitzgerald-O'Connor / Martin Davison
+44 (0)20 7523 8000
FORWARD-LOOKING STATEMENTS
This news release contains "forward looking information" which may
include, but is not limited to, statements with respect to the 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, the realization of mineral resource 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 economics 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 statements 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 the continued political stability in
Northern Ireland, that permits required for Dalradian's operations will
be obtained on a timely basis in order to permit Dalradian to proceed on
schedule with its planned exploration and development programs, that
skilled personnel and contractors will be available as Dalradian's
operations continue to grow, that the price of gold will be at levels
that render 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 estimates and current mine
plans, that the assumptions contained in the Company's Preliminary
Economic Assessment are accurate and complete, that results from the
infill drilling program continue to be positive, that the mineral
resource update is positive, that the results of the Environmental and
Social Impact Assessment and the Feasibility Study will be positive 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. 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 news 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
July 20, 2017 02:00 ET (06:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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