Dalradian Resources Intersects 2.22m Grading 14.07g/t Au and 1.47m Grading 23.62g/t Au in 1700 Metre Step-out Hole East of Curraghinalt
TORONTO, ONTARIO -- (Marketwire) -- 09/27/12 -- Dalradian Resources Inc. ("Dalradian" or the "Company") (TSX: DNA)(OTCQX: DRLDF) has received final assays from hole 12-CT-162, which was drilled to test a geochemical anomaly from a recently released survey. The hole is located approximately 1700 metres along trend from the Company's wholly owned Curraghinalt deposit in Northern Ireland.
CEO, Patrick F.N. Anderson commented, "It looks like the time, cost and effort we put into completing our recent trend-scale geochemical survey was well spent. Our first hole of the anomaly drilling program has come back a zinger."
This is the first of three holes to be reported from the follow-up drilling program to test Gold-in-Soil 'Anomaly A', which resulted from recent geochemical surveying (PR Sept 19, 2012). Assays from the other two holes are pending. The sampling and assaying of the most obviously mineralized sections of the hole was prioritized for shipment and processing at the lab, and composited intersections are reported below.
Additional drilling is underway to determine the orientation and continuity of this mineralization.
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Hole ID From (m) To (m) Width (m) Au Grade (g/t)
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12-CT-162 123.50 123.60 0.10 3.9
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12-CT-162 139.75 140.43 0.68 4.7
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12-CT-162 165.00 165.18 0.18 1.1
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12-CT-162 186.00 188.22 2.22 14.1
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12-CT-162 229.08 230.55 1.47 23.6
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12-CT-162 239.70 239.85 0.15 4.4
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12-CT-162 279.28 279.45 0.17 1.4
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12-CT-162 303.50 304.60 1.10 7.6
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Note:
- Hole drilled due south at 55 degrees dip
- Composites calculated at 1 g/t Au cut-off and may include up to 2m of
internal dilution
- Partial results - presently waiting on assays to be returned from
below 335m (maximum of 2% pyrite over 25cm)
- True width is undetermined
Qualified Person
Martin Moloney, BSc (hons), M.AIG, Senior Geologist, Dalradian Gold, is the Qualified Person who supervised the preparation of the technical data in this news release.
Drill core was halved with samples averaging between 0.1 and 0.3 metres in ore and up to 1.0 metre in wall rock were submitted to Omac in the Republic of Ireland. Rigorous quality assurance and quality control procedures have been implemented including the use of blanks, standards and duplicates. Core samples were analyzed by a 50 gram gold fire assay with an atomic absorption finish.
About Dalradian Resources Inc.:
Dalradian Resources Inc. is a TSX-listed, Canadian based exploration company engaged in the acquisition, exploration and development of gold, base metals and other precious metals projects. With a European focus, our most advanced property is in Northern Ireland and focuses on and around the high-grade mesothermal gold deposit, Curraghinalt.
The Company's wholly owned subsidiary, Dalradian Gold Limited, holds a 100% interest, subject to certain royalties, in mineral prospecting licences and mining lease option agreements in counties Tyrone and Londonderry, Northern Ireland. The Department of Enterprise, Trade and Investment ("DETI") and the Crown Estate Commissioners ("CEC") have together granted to Dalradian base and precious metal mineral exploration rights to four contiguous areas collectively known as the Tyrone Project.
Dalradian's flagship deposit, Curraghinalt hosts an NI 43-101 compliant measured mineral resource of 0.02 MT grading 21.51 g/t gold for 10,000 contained ounces, indicated mineral resource of 1.11 MT grading 12.84 g/t gold for 460,000 contained ounces and inferred mineral resource of 5.45 MT grading 12.74 g/t for 2,230,000 contained ounces. Dalradian's NI 43-101 report, "A Preliminary Economic Assessment of the Curraghinalt Gold Deposit, Tyrone Project, Northern Ireland" is dated September 6, 2012, and was prepared by Mr. B. Terrence Hennessey, P.GEO., Mr. Barnard Foo, P.ENG., Mr. Bogdan Damjanovic, P.ENG., Mr. Andre Villeneuve, P.ENG., and Mr. Christopher Jacobs, CEng MIMMM of Micon International Limited, and is available on SEDAR at www.sedar.com.
In Norway, Dalradian holds mineral rights for approximately 1.7 million hectares over three greenstone belts, as well as an area hosting an historic silver mining district. Dalradian is engaged in data acquisition and analysis over all its concessions, with field programs underway over its Kongsberg and Kautokeino concession areas.
Dalradian's Common Shares are listed on the Toronto Stock Exchange under the symbol "DNA". For further information, please see www.dalradian.com.
FORWARD-LOOKING INFORMATION
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 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 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.
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.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/DNA2709_Figure1.pdf.
To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/DNA2709_Figure2.pdf.
To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/DNA2709_Figure3.pdf.
Contacts:
Dalradian Resources Inc.
Shae-Lynn Mathers
Director, Investor Relations
+1.416.583.5622
investor@dalradian.com
www.dalradian.com
