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DALR Dalradian Cmn

86.25
0.00 (0.00%)
17 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Dalradian Cmn LSE:DALR London Ordinary Share CA2354991002 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 86.25 85.00 87.50 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Dalradian Resources Dalradian Recovers 54% More Gold Than Predicted in Resource Model From Two Long-Hole Test Stopes

14/09/2016 7:00am

UK Regulatory


 
TIDMDALR 
 
Dalradian Recovers 54% More Gold Than Predicted in Resource Model From Two Long-Hole Test Stopes 
FOR:  DALRADIAN RESOURCES INC. 
 
TSX SYMBOL:  DNA 
AIM SYMBOL:  DALR 
 
September 14, 2016 
 
Dalradian Recovers 54% More Gold Than Predicted in Resource Model From  Two Long-Hole Test Stopes 
 
TORONTO, ONTARIO--(Marketwired - Sept. 14, 2016) - Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the 
"Company") announces preliminary results from two test stopes at its Curraghinalt Gold Project in Northern Ireland. 
Stope 1 attained an average width of 1.40 metres, with estimated dilution to the designed stope of 29% and removal of an 
estimated 439 ounces of gold at a grade of 13.27 g/t from 1,029 tonnes of material. Stope 2 achieved an average width of 
1.33 metres, with estimated dilution of 10% to the designed stope and removal of an estimated 973 ounces of gold at a 
grade of 24.34 g/t from 1,244 tonnes of material (see Table 2). These results are based on extensive muck sampling. The 
quantity of gold in Stope 1 was 36% above the resource model estimation, while Stope 2 exceeded the resource model 
estimation by 73% (see Table 1). The test stoping results validate the selection of long-hole open stoping as the 
primary mining method at Curraghinalt and demonstrate that narrow mining widths can be achieved using mechanized 
methods. These results will contribute to the feasibility study that is nearing completion. 
 
Table 1: Comparison of contained ounces of gold between resource model, Dalradian grade control model and test stoping 
results 
 
=--------------------------------------------------------------------------- 
                                                 Contained gold 
=--------------------------------------------------------------------------- 
                                           Resource      Dalradian      Test 
                                              model  grade control   stoping 
                                         estimation          model   results 
=--------------------------------------------------------------------------- 
Stope 1 (oz)                                    353            369       439 
=--------------------------------------------------------------------------- 
Stope 2 (oz)                                    562            667       973 
=--------------------------------------------------------------------------- 
Total (oz)                                      915           1036      1412 
=--------------------------------------------------------------------------- 
Variation from resource model 
 estimation (%)                                                13%       54% 
=--------------------------------------------------------------------------- 
 
 
Table 2: Comparison of stope design vs. actual results 
 
=--------------------------------------------------------------------------- 
                 Average                   Estimated    Estimated  Estimated 
                   width       Dip             Grade    Contained   Dilution 
                  (m)(i) (degrees)  Tonnes (g/t)(ii)  Gold Ounces  on Design 
=--------------------------------------------------------------------------- 
Stope 1 Design 
        (iii)        1.1        73     774     14.82          369       N.A. 
        -------------------------------------------------------------------- 
        Actual 
         results     1.4        73   1,029     13.27          439        29% 
=--------------------------------------------------------------------------- 
Stope 2 Design       1.3        76   1,128     18.40          667       N.A. 
        -------------------------------------------------------------------- 
        Actual 
         results    1.33        76   1,244     24.34          973        10% 
=--------------------------------------------------------------------------- 
 
(i)True widths 
(ii) Design grade based on definition drilling, face and channel sampling 
 (Dalradian grade control model); actual results grade based on extensive 
 muck sampling 
(iii) Design width is the minimum width necessary to recover all of the 
 mineralized material predicted 
Patrick F.N. Anderson, Dalradian President & CEO commented, 
 
"This is a great result from our test stoping program. The dilution and the widths achieved as well as the muck grade 
returned exceeded expectations. The better results achieved in Stope 2 reflect the experience gained from completing the 
first stope. There are only a few outstanding studies left before we can deliver on our feasibility study, which we 
expect to release on time this fall." 
 
Key findings of the test stoping for the feasibility study include achievability of: 
 
=-  Mechanized long-hole stoping 
=-  Narrow mining widths of between 1.2 -1.8 metres 
=-  Stope lengths of 20 metres 
=-  15 vertical metres or more between sublevels 
 
The test stoping area is located approximately 60 metres below the surface on the V-75 vein at the deepest point of the 
current development (see figures 1, 2, 3 for location; all figures referenced in this news release can be accessed at 
http://www.dalradian.com/news-and-events/news-releases/news-releases-details/September-14-2016-News-Release-Figures). 
This location was selected as it was readily accessible for pre-production delineation drilling and had an adequate 
crown pillar. It also occurs beneath a shallow zone of partial oxidation. It was therefore considered representative of 
the deposit as a whole for the purposes of such a trial. Observed ground conditions are excellent, with rock breaking as 
expected during blasting and good rock fragmentation evident in the muck (see Figure 6). 
 
The test stopes were adjacent areas along the V-75 vein. Stope 1 was 16 metres long and 15.7 metres high (see Figure 4), 
while Stope 2 was 20 metres long and 15.5 metres high (see Figure 5), showing potential for faster mine scheduling using 
longer stopes. Orica Mining Services aided in the design of the test stoping program, while CMAC-Thyssen worked 
alongside Dalradian staff in drilling and blasting the test stopes. The design of the stopes was based on 100% recovery 
of the vein using zipper drilling to reduce the amount of drilling, the powder factor and minimize dilution. The 
dilution anticipated by the preliminary geotechnical model was 41% on Stope 1 with a length of 15 m, whereas actual 
results were 29% dilution with a 16 m length. For Stope 2, the geotechnical model predicted 39% dilution on a length of 
20 m, whereas actual results were 10% dilution (length unchanged). 
 
Split shot, a selective drilling and blasting technique, was also tested. By first blasting and removing the waste and 
then blasting the ore, we observed that we can reduce the tonnage from development material sent to the mill by more 
than 50%. Split shot is used to minimize dilution and high grade the development ore and also to improve results for the 
mechanized cut and fill production method (see Figure 7). 
 
Qualified Persons 
 
Eric Tremblay, P.Eng., Chief Operating Officer, and Greg Hope, MSc, MAIG, Chief Consulting Geologist, Dalradian 
Resources, are the Qualified Persons who supervised the preparation of the technical data in this news release. 
 
Underground development along the veins was sampled by the production geologist via chip panel sampling, across the full 
width of the face for each round on advance. Distinct geological zones were sampled separately (vein separate from wall 
rock), with a general minimum-maximum horizontal sample width of 0.10m to 1m and chip sizes approximating 3-4cm. Four to 
five kilograms of material was chipped with a rock hammer from two thirds the height of each face down to the sill, in 
volumetric proportion based on relative abundance of mineralization versus gangue. Sample locations were measured from a 
surveyed control point. Channel samples were saw-cut into the sills of the 170 and 150 western sublevels along the V-75 
vein for comparison with face and drill hole sampling. Samples were submitted to ALS Laboratories in the Republic of 
Ireland. 
 
Muck samples were taken continuously throughout the mucking process of each stope, at a frequency of 1 sample taken 
every two scoop buckets from the stope (each scoop bucket contains an estimate of 2.6 tonnes of muck). Sampling was done 
by the scoop operator, using a shovel to put muck into the individual sample bags, which allowed a representative sample 
of both coarse and fine rock fragments to be collected. Sampling was done by the same three individuals over the whole 
period of the program for consistency and the Production Geologist performed regular audits of the sampling technique. 
Sample bags were numbered in sequence representing the scoop bucket from which they were taken. The sample bags were 
tagged and secured by the Production Geologist and samples were submitted to ALS Laboratories in the Republic of 
Ireland. 240 muck samples were taken from Stope 1, totalling 1.83 tonnes of ore, or an average of 7.63 kg per sample. 
238 muck samples were taken from Stope 2, totalling 1.62 tonnes of ore, or an average of 6.81 kg per sample. 
 
Quality assurance and quality control procedures identified no material issues. Face, channel and muck 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". 
 
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. The Company is completing a work program in 
support of a planning (permitting) application for construction of an operating mine at Curraghinalt. Components of the 
program include a feasibility study, an environmental and social impact assessment and underground exploration (960 
metres of development with associated test stoping). 
 
In May 2016, Dalradian announced an updated mineral resource estimate for Curraghinalt, including a 109% increase in 
gold ounces contained in the Measured and Indicated categories compared with the 2014 resource. The current resource 
consists of 2.1 million ounces of contained gold in the Measured and Indicated categories (5.61 million tonnes at 11.61 
g/t) and 2.3 million ounces of contained gold in the Inferred category (7.13 million tonnes at 10.06 g/t gold). For 
further information, see the NI 43-101 technical report entitled, "Technical Report for the Northern Ireland Gold 
Project, Northern Ireland", dated June 17, 2016 and prepared by Dr. Jean-Francois Couture, PGeo (APGO#0197) and Dr. Oy 
Leuangthong, PEng (PEO#90563867), both of SRK Consulting (Canada) Inc. and Stacy Freudigmann, PEng (APEGBC #33972) of 
JDS Energy & Mining Inc. 
 
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. 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Dalradian Resources Inc. 
Marla Gale 
Vice President Communications 
+1 416 583 5622 
investor@dalradian.com 
www.dalradian.com 
 
OR 
 
Grant Thornton UK LLP (Nominated Adviser) 
Philip Secrett / Richard Tonthat / Harrison Clarke 
+44 (0)20 7383 5100 
 
OR 
 
Canaccord Genuity Limited (Broker) 
Henry Fitzgerald-O'Connor / Martin Davison 
+44 20 7523 8000 
 
 
 
Dalradian Resources Inc. 
 

(END) Dow Jones Newswires

September 14, 2016 02:00 ET (06:00 GMT)

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