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DALR Dalradian Cmn

86.25
0.00 (0.00%)
28 Mar 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 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Dalradian Resources Inc. Dalradian Intersects 1.98 Metres At 32.54 G/T Gold In Step-out Drilling At Curraghinalt

02/10/2017 7:00am

UK Regulatory


 
TIDMDALR 
 
 
   Dalradian intersects 1.98 metres at 32.54 g/t gold in Step-out Drilling 
at Curraghinalt 
 
   TORONTO, ONTARIO--(Marketwired - Oct. 2, 2017) - Dalradian Resources 
Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") announces the 
preliminary results from surface drilling at the Curraghinalt gold 
deposit in Northern Ireland. This drilling commenced in the summer with 
5 drill rigs on surface focused on completing up to 30,000 metres of 
step-out and infill drilling. Included in today's results are nine 
step-out drill holes, all of which encountered extensions of the veins 
at Curraghinalt. The Company is also reporting results from six 
underground infill drill holes. Drilling continues, with a total of 8 
rigs operating (3 underground), to complete the planned 40,000 metre 
drill program. 
 
   Highlights 
 
 
   -- Step-out: 1.98 m of 32.54 g/t gold from the 106-16 vein in hole 17-CT-427 
 
   -- Step-out: 0.94 m of 30.89 g/t gold from the T17 vein in hole 17-CT-428 
 
   -- Step-out: 1.03 m of 40.09 g/t gold from the Crow vein in hole 17-CT-435 
 
   -- Infill: 1.21 m of 76.22 g/t gold from the No.1 vein in hole 17-CT-415 
 
   -- Infill: 1.51 m of 41.04 g/t gold from the 106-16 vein in hole 17-CT-424 
 
 
   Patrick F.N. Anderson, Dalradian's President and CEO, commented: "The 
results from this first series of step-out drill holes are very 
exciting. These wider spaced, first pass results show continuity four 
hundred metres to the west in at least some of the high-grade 
Curraghinalt veins. In addition, infill drilling continues to deliver 
the expected good results, building toward an updated resource 
estimate." 
 
   Details of drilling at Curraghinalt 
 
   Results are being reported for 15 drill holes for a total of 6,324 
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/October-2-2017-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 nine 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 
 
 
 
 
 
                            From           Width   Au     Vein    Drill 
  Hole ID     Azimuth/Dip   (m)    To (m)   (m)   (g/t)  System  Campaign 
 17-CT-405        179/-54  161.85  162.19   0.34  35.00    No.1    Infill 
 17-CT-405                 220.77  222.02   1.25   9.95  106-16    Infill 
 17-CT-405                 304.99  305.54   0.55  24.67     V75    Infill 
 
 17-CT-415        192/-76   67.96   68.22   0.26  37.90     V55    Infill 
 17-CT-415                  70.15   71.36   1.21  76.22    No.1    Infill 
 17-CT-415                 336.82  337.69   0.87  23.60    Bend    Infill 
 
 17-CT-416        192/-90  265.44  266.03   0.59  37.60     V75    Infill 
 
 17-CT-420        192/-75  129.71  131.45   1.74   9.24  106-16    Infill 
 
 17-CT-420a       192/-75  333.16  334.00   0.84  11.71    Crow    Infill 
 
 17-CT-421a       205/-50   38.33   38.60   0.27  35.20  Mullan  Step Out 
 17-CT-421a                126.19  126.49   0.30  81.40     T17  Step Out 
 
 17-CT-424        192/-83  148.99  150.50   1.51  41.04  106-16    Infill 
 17-CT-424                 378.05  378.30   0.25  54.80    Bend    Infill 
 
 17-CT-427        200/-50  318.15  318.45   0.30  40.10     T17  Step Out 
 17-CT-427                 382.77  384.75   1.98  32.54  106-16  Step Out 
 17-CT-427                 453.22  453.53   0.31  43.20     V75  Step Out 
 
 17-CT-428        200/-50  270.75  271.69   0.94  30.89     T17  Step Out 
 17-CT-428                 339.19  339.46   0.27  74.30    No.1  Step Out 
 17-CT-428                 555.12  555.37   0.25  49.20    Crow  Step Out 
 
 17-CT-429        205/-50   45.76   46.79   1.03   9.34  106-16  Step Out 
 
 17-CT-431        200/-50  187.37  187.64   0.27  61.90     T17  Step Out 
 
 17-CT-433        200/-50  498.77  500.10   1.33  23.83    Crow  Step Out 
 
 17-CT-435        200/-50  186.89  187.92   1.03  40.09    Crow  Step Out 
 
 
   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 1.0 m of internal dilution 
 
   -- Generally, only those mineralized intercepts exceeding 10 gram-metres 
      have been included in the table 
 
   -- 17-CT-421 and 17-CT-432 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 the future 
financial or operating performance of the Company and its subsidiary 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 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 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 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, that the results of the ESIA 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 
for the year ended December 31, 2016 dated March 23, 2017 (the "AIF"). 
 
   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 or Grant Thornton UK LLP (Nominated Adviser) 
      Philip Secrett / Richard Tonthat +44 (0)20 7383 5100 or Canaccord Genuity 
      Limited (Broker) Henry Fitzgerald-O'Connor / Martin Davison +44 (0)20 
      7523 8000 
 
 
 
   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

October 02, 2017 02:00 ET (06:00 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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