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TORONTO, ONTARIO--(Marketwired - Feb 18, 2016) - Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") announces results from 51 drill holes from an ongoing infill drilling program at the Curraghinalt Gold Deposit in Northern Ireland.
Details of Drilling at Curraghinalt
Final results are being reported for 51 drill holes mainly located in the central and western parts of the Curraghinalt deposit (see plan map and two cross sections at http://www.dalradian.com/news-and-events/news-releases/news-releases-details/February-18-2016-News-Release-Figures). These holes were drilled at varying intervals targeting most of the veins included in the last mineral resource estimate, as well as four of the newly interpreted veins, Grizzly, Slap Shot, Sperrin and Causeway. Most drill holes were oriented generally towards the south within a southwest to southeast quadrant in order to intercept the steeply north dipping vein array. Holes 15-CT-281-294a and 15-CT-316-328 were drilled from underground, while holes 15-CT-295-315 and 15-CT-329-330 were drilled from surface.
These 51 drill holes represent 13,365 metres of the approximately 50,000 metre expanded infill drilling program. To date, 142 holes for 39,582 metres in total have been released, with results for the remaining drill holes to be released as they are received, compiled and interpreted. The purpose of the infill program is to convert resource ounces from the Inferred to the Indicated category, in support of a feasibility study currently underway.
These intercepts correlate well with and improve the current geological model with respect to the continuity and smoothness of the individual vein wireframes.
Patrick F.N. Anderson, Dalradian's Chairman and CEO, commented:
"The infill program continues to deliver high grade intercepts where we expect them. We are wrapping up the last several holes of our program and expect to release at least one more batch of results. Along with the progress on our underground exploration program, with test stoping to begin shortly, we remain on-track for completion of our feasibility study in the second half of this year."
Selected Curraghinalt Drill Intersections
Greg Hope, MSc, MAIG, Chief Consulting Geologist, Dalradian Resources, is the Qualified Person who supervised 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. Quality assurance and quality control procedures 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".
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 in the midst of 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, infill drilling and underground exploration (885 metres of development with associated test stoping).
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, test work and confirming results from work performed to date, estimation of mineral resources, completion of the feasibility study, environmental and social impact assessment and underground program and the realization of the expected economics of Curraghinalt. 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 the Company's operations will be obtained in a timely basis in order to permit the Company to proceed on schedule with its planned development and exploration programs, that skilled personnel and contractors will be available as the Company's operations continue to grow, that the price of gold will be at levels that render the Company'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 that the assumptions contained in the Company's preliminary economic assessment are accurate and complete.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company 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 exploration activities; actual results of reclamation activities; conclusions of economic evaluations; meeting various expected cost estimates; changes in project parameters as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; 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.
Dalradian Resources Inc.
Vice President Communications
+1 416 583 5622
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 20 7523 8000