Dalradian Resources Inc. Update: Dalradian Resources Inc. : Miscellaneous

 
TIDMDALR 
 
   Initial revised mineral resource modeling approach for two veins 
 
   at Curraghinalt show increase in ounces 
 
   TORONTO, September 11, 2017/Marketwired/ - Dalradian Resources Inc. 
(TSX:DNA; AIM:DALR) ("Dalradian" or the "Company") announces that a 
sensitivity study estimation performed on two of the major veins in the 
Curraghinalt gold deposit (T17 and V75 veins) resulted in a 37% increase 
in grade and a 10% increase in ounces. In the new study, the geology 
wireframes were re-modelled using assays with a heavier emphasis on 
logged geology. This approach yields 24% narrower veins accompanied by a 
20% decrease in tonnage. (See Tables 1 and 2 below.) Composite length 
was adjusted from 0.5 to 0.3 metres to reflect the narrower domains, but 
all other parameters remain unchanged with the aim to isolate the impact 
of re-wireframing. 
 
   Dalradian assessed the impact of the revised modelling methodology on 
potentially mineable material for the two veins by applying the same 
parameters as those used in the December 2016 feasibility study (FS). It 
was found that the revised vein block models resulted in a higher 
potentially mineable tonnage of 34% and a corresponding increase in 
mineable ounces of 32% at the expense of a marginal decrease in grade 
(1.5%). (See Tables 3 and 4 below.) 
 
   This change in modelling sequence, where wireframing is carried out on 
geology and assays, followed by compositing within these wireframes, can 
in part explain the positive reconciliation between mill and resource 
(42% more ounces) resulting from the test stopes completed in 2016. (See 
news releases of September 14 and December 8.) 
 
   Patrick F.N. Anderson, President and CEO said, "We are pleased with the 
results of this exercise, which uses the same drill data to compare the 
impact of wireframing prior to compositing, in estimating the mineral 
resources and resulting mineral reserves at Curraghinalt. The new method 
is the culmination of a great amount of hard work and reflects our 
better understanding of the deposit. The resulting shapes for the T17 
and V75 veins are more heavily influenced by geology as opposed to 
previous models which were largely grade driven. This has resulted in 
smoother, higher grade veins that are only slightly narrower than in the 
previous model. The implications are that we can use longhole mining 
methods more extensively and bring new ounces into the mine plan which 
had previously been below the cut-off grade (see Figure 1). The bottom 
line is that we have 32% more mineable ounces for the two veins tested." 
 
   Figure 1 is also available at 
http://www.dalradian.com/news-and-events/news-releases/news-releases-details/September-11-2017-News-Release-Figures/. 
 
 
   The sensitivity study estimation announced today does not represent a 
new resource update. However, the Company expects that this revised 
wireframing approach will be used in the updated resource estimate 
planned once the current drill program is completed and expects similar 
positive results from the other modelled veins. 
 
   Table 1: Comparative V75 Vein Estimates 
 
 
 
 
                     Comparison of V75 Mineral Resource 2016 with revised 
                                mineral modeling estimates 2017 
                2016 Mineral Resource               2017 Estimates               % Change 
 Mineral 
 Resource     Tonnes     Au       Au Oz       Tonnes     Au       Au Oz             Au 
 Category    (' 000 t)   GPT    (' 000 oz)   (' 000 t)   GPT    (' 000 oz)  Tonnes  GPT  Au Oz 
Measured & 
 Indicated         497  13.15          210         377  17.88          217    -24%  36%     3% 
 Inferred        1,085   9.57          334         881  12.95          367    -19%  35%    10% 
 
 
   * 2016 Mineral Resources are reported at a cut-off grade of 5.0 gpt 
gold. 2017 estimated quantities are reported at 5.0 gpt gold. All 
figures have been rounded to reflect the relative accuracy of the 
estimates. Discrepancies in sums may be due to rounding. 2017 Estimates 
do not represent a new resource update. 
 
   Table 2: Comparative T17 Vein Estimates 
 
 
 
 
                     Comparison of T17 Mineral Resource 2016 with revised 
                                mineral modeling estimates 2017 
                2016 Mineral Resource               2017 Estimates               % Change 
 Mineral 
 Resource     Tonnes     Au       Au Oz       Tonnes     Au       Au Oz             Au 
 Category    (' 000 t)   GPT    (' 000 oz)   (' 000 t)   GPT    (' 000 oz)  Tonnes  GPT  Au Oz 
Measured & 
 Indicated         709  14.30          326         593  19.70          375    -16%  38%    15% 
 Inferred          481   8.78          136         380  12.13          148    -21%  38%     9% 
 
 
   * 2016 Mineral Resources are reported at a cut-off grade of 5.0 gpt 
gold. 2017 estimated quantities are reported at 5.0 gpt gold. All 
figures have been rounded to reflect the relative accuracy of the 
estimates. Discrepancies in sums may be due to rounding. 2017 Estimates 
do not represent a new resource update. 
 
   Table 3: Comparative T17 and V75 Mineral Reserve 2016 vs. Veins 
Estimates Mineable Material 2017 
 
 
 
 
                        2016 Mineral Reserve              2017 Estimates Mineable Material 
                          (0.328 oz/t mined)                     (0.323 oz/t mined) 
                            GPT                                     GPT 
                 Tonnes     Au     Oz Au   % of Total    Tonnes     Au     Oz Au   % of Total 
   Longhole       421,291  10.58  143,300         35%     687,408  10.00  220,905         43% 
    Uppers        248,058   8.36   66,683         21%     279,514   7.84   70,424         17% 
   Pillars        131,887   7.38   31,313         11%     147,379   7.89   37,385          9% 
 Cut and Fill     182,353  11.41   66,914         15%     227,525  11.26   82,351         14% 
 Development      217,865  12.18   85,281         18%     262,803  12.63  106,737         16% 
Total/Average   1,201,454  10.19  393,492        100%   1,604,628  10.04  517,802        100% 
 
 
 
   Note: The above table is not intended to be a mineral reserve statement. 
 
   Table 4: Variation from Mineral Reserve 2016 and Vein Estimates Mineable 
Material 2017 
 
 
 
 
                     Change in Vein Estimates from 2016 to 2017 
                  Tonnes      %     GPT Au     %      Ounces     % 
   Longhole        266,117    63%     -0.58     -6%     77,606   54% 
    Uppers          31,456    13%     -0.52     -6%      3,741    6% 
   Pillars          15,492    12%      0.51      7%      6,072   19% 
 Cut and Fill       45,172    25%     -0.16     -1%     15,436   23% 
 Development        44,938    21%      0.46      4%     21,456   25% 
Total/Average      403,174    34%     -0.15   -1.5%    124,310   32% 
 
 
 
   Note: The above table is not intended to be a mineral reserve statement. 
 
   Figure 1: Comparison of Mine Plan, showing increase in mineable M&I and 
longhole tonnage 
 
   (both at a cut-off grade of 5.0 g/t Au) 
 
   Qualified Persons 
 
   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. 
 
   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. 
 
   For more information: 
 
   Marla Gale 
 
   Vice President Communications 
 
   [phone] 
 
   [e-mail] 
 
   Grant Thornton UK LLP (Nominated Adviser) 
 
   Philip Secrett / Richard Tonthat 
 
   [phone] 
 
   Canaccord Genuity Limited (Broker) 
 
   Henry Fitzgerald-O'Connor / Martin Davison 
 
   [phone] 
 
   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 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. 
 
   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

September 11, 2017 02:41 ET (06:41 GMT)

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