TORONTO, Feb. 20, 2018 (GLOBE
NEWSWIRE) -- Dalradian Resources Inc. (TSX:DNA) (AIM:DALR)
("Dalradian" or the "Company") is pleased to report results from 16
drill holes from infill drilling at the Curraghinalt gold deposit
in Northern Ireland. The drill program is ongoing, with five drill
rigs working on surface and two drill rigs underground.
Highlights
- 0.44 m of 318.00 g/t gold from the Bend vein in
hole 17-CT-445
- 0.34 m of 216.00 g/t gold from the No. 1 vein in
hole 17-CT-452
- 1.14 m of 45.54 g/t gold from the T17 vein in
hole 17-CT-459
- 0.73 m of 49.80 g/t gold from the V55 vein in
hole 17-CT-459
- 0.86 m of 41.85 g/t gold from the 106-16 vein in
hole 17-CT-459
- 1.05 m of 53.64 g/t gold from the Mullan-S vein
in hole 17-CT-470
- 0.70 m of 73.89 g/t gold from the Crow vein in
hole 17-CT-471
Patrick F.N. Anderson, Dalradian's
President and CEO, commented:
"These high-grade infill drill
results support delivery of a positive resource update in Q2 2018,
which will then feed into an updated feasibility study planned for
Q3 2018."
Details of
drilling at Curraghinalt
Results are being reported for 16 drill holes for a total of 6,798
metres. 13 holes were drilled from underground and are in the
central part of the Curraghinalt deposit (see plan map and cross
section
at http://www.dalradian.com/news-and-events/news-releases/news-releases-details/February-20-2018-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
Hole ID |
Azimuth/Dip |
From (m) |
To (m) |
Width (m) |
Au (g/t) |
Vein System |
Drill Campaign |
17-CT-445 |
184/-52 |
100 |
100.62 |
0.62 |
34.35 |
T17 |
Infill |
17-CT-445 |
184/-52 |
232.62 |
232.94 |
0.32 |
69.70 |
Slap Shot |
Infill |
17-CT-445 |
184/-52 |
294.43 |
295.15 |
0.72 |
24.32 |
V75 |
Infill |
17-CT-445 |
184/-52 |
340.72 |
341.16 |
0.44 |
318.00 |
Bend |
Infill |
17-CT-445 |
184/-52 |
343.46 |
343.78 |
0.32 |
48.90 |
Bend |
Infill |
|
|
|
|
|
|
|
|
17-CT-452 |
211/-67 |
56.95 |
57.29 |
0.34 |
216.00 |
No.1 |
Infill |
|
|
|
|
|
|
|
|
17-CT-458a |
219/-85 |
379.9 |
380.75 |
0.85 |
31.77 |
Bend |
Infill |
|
|
|
|
|
|
|
|
17-CT-459 |
180/-71 |
132.49 |
133.63 |
1.14 |
45.54 |
T17 |
Infill |
17-CT-459 |
180/-71 |
178.56 |
178.89 |
0.33 |
66.50 |
V55-S |
Infill |
17-CT-459 |
180/-71 |
182.31 |
183.04 |
0.73 |
49.80 |
V55 |
Infill |
17-CT-459 |
180/-71 |
193.74 |
194.35 |
0.61 |
29.08 |
No.1 |
Infill |
17-CT-459 |
180/-71 |
255.87 |
256.73 |
0.86 |
41.85 |
106-16 |
Infill |
17-CT-459 |
180/-71 |
259.51 |
259.76 |
0.25 |
131.50 |
Slap Shot |
Infill |
17-CT-459 |
180/-71 |
298.62 |
298.88 |
0.26 |
55.10 |
Slap Shot-S |
Infill |
17-CT-459 |
180/-71 |
348.66 |
349.02 |
0.36 |
32.30 |
V75 |
Infill |
|
|
|
|
|
|
|
|
17-CT-467 |
208/-84 |
88.2 |
88.78 |
0.58 |
42.68 |
106-16 |
Infill |
|
|
|
|
|
|
|
|
17-CT-467a |
208/-84 |
92.03 |
93.07 |
1.04 |
18.38 |
106-16 |
Infill |
17-CT-467a |
208/-84 |
118.93 |
119.18 |
0.25 |
45.40 |
Slap Shot |
Infill |
|
|
|
|
|
|
|
|
17-CT-468 |
213/-52 |
163.12 |
163.47 |
0.35 |
26.90 |
V75 |
Infill |
17-CT-468 |
213/-52 |
303.24 |
303.94 |
0.70 |
20.23 |
Crow |
Infill |
|
|
|
|
|
|
|
|
17-CT-469 |
212/-82 |
73.4 |
74.14 |
0.74 |
20.78 |
No.1 |
Infill |
17-CT-469 |
212/-82 |
149.1 |
149.81 |
0.71 |
22.33 |
106-16 |
Infill |
|
|
|
|
|
|
|
|
17-CT-469a |
212/-82 |
72.81 |
73.29 |
0.48 |
62.00 |
No.1 |
Infill |
17-CT-469a |
212/-82 |
312.6 |
312.87 |
0.27 |
60.50 |
Bend |
Infill |
|
|
|
|
|
|
|
|
17-CT-470 |
201/-50 |
259.65 |
259.92 |
0.27 |
46.30 |
Road |
Infill |
17-CT-470 |
201/-50 |
465.63 |
466.68 |
1.05 |
53.64 |
Mullan-S |
Infill |
17-CT-470 |
201/-50 |
471.64 |
472.04 |
0.40 |
29.60 |
Mullan |
Infill |
|
|
|
|
|
|
|
|
17-CT-471 |
202/-50 |
281.25 |
281.65 |
0.40 |
31.10 |
No.1 |
Infill |
17-CT-471 |
202/-50 |
354.95 |
355.22 |
0.27 |
61.30 |
Slap Shot-S |
Infill |
17-CT-471 |
202/-50 |
455.75 |
456.45 |
0.70 |
73.89 |
Crow |
Infill |
|
|
|
|
|
|
|
|
17-CT-473 |
208/-61 |
75.18 |
75.45 |
0.27 |
54.80 |
106-16-S |
Infill |
17-CT-473 |
208/-61 |
106.07 |
106.97 |
0.90 |
33.33 |
106-16 |
Infill |
|
|
|
|
|
|
|
|
17-CT-474 |
208/-90 |
195.33 |
195.6 |
0.27 |
70.00 |
Slap Shot-S |
Infill |
17-CT-474 |
208/-90 |
208.97 |
209.26 |
0.29 |
117.00 |
V75 |
Infill |
17-CT-474 |
208/-90 |
303.48 |
303.98 |
0.50 |
20.83 |
Bend |
Infill |
17-CT-474 |
208/-90 |
339.35 |
340.45 |
1.10 |
24.70 |
Crow |
Infill |
|
|
|
|
|
|
|
|
17-CT-475 |
200/-62 |
361.97 |
362.25 |
0.28 |
29.90 |
Mullan-S |
Infill |
17-CT-475 |
200/-62 |
367.17 |
367.67 |
0.50 |
65.65 |
Mullan |
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. Accordingly, there are
two drill holes, 17-CT-458 and 17-CT-460, that are not listed in
the above table even though they intercepted the projected
veins
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
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