DNA-T | Dalradian Stakes Additional Ground in Northern Ireland | JUL 06, 2016 | | TORONTO, ONTARIO--(Marketwired - July 6, 2016) -
Editors Note: There are two figures associated with this press release.
Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") announces it has been granted option agreements for precious metals and prospecting licenses for base metals for two new licence areas (DG5 and DG6) contiguous with Dalradian's existing licences (DG1, DG2, DG3 and DG4) in Northern Ireland. The two new licence areas have the same structure as the pre-existing licences. The Company's licence areas now stretch over approximately 122,000 hectares of proven prospective ground, up from approximately 84,000 hectares previously. Dalradian's field crews began regional prospecting and sampling in June as part of its 2016 regional exploration program, which will include the new licence areas.
Over six years of working in Northern Ireland, Dalradian has determined the best exploration techniques to use for finding gold. The 2016 regional exploration program includes soil and deep overburden sampling, panning and stream sediment sampling on all six licence areas. The end goals of this program is both to follow up on historic results and to prepare new targets for drilling.
Both licence areas contain multiple discrete panned concentrate anomalies (based on historic data) showing high gold values, ranging up to 188 g/t gold. The DG5 and DG6 anomalies are the largest on Dalradian's licence areas outside of Curraghinalt. While these anomalies were identified using historic data, they will be ground-truthed by Dalradian during the current regional program using similar techniques that the Company successfully employed at the Curraghinalt gold deposit, where a 40ppb gold in soil anomaly outlines a multi-million ounce gold resource that remains open in all directions.
Patrick F.N. Anderson, Dalradian's CEO, commented:
"We first visited Northern Ireland in 2009, when the government was looking for a group with the experience and resources to grow and develop Curraghinalt. In addition to the merits of the small but high-grade gold deposit, we appreciated the foresight of the government in having produced the Tellus survey, a comprehensive package of geological data across Northern Ireland that was designed to attract investment in mining.
Since that beginning, we have been able to grow Curraghinalt more than six-fold and have de-risked the project by bringing it to the feasibility stage. In addition, we have identified numerous regional gold targets, compiled historic exploration data from elsewhere on our properties into one master exploration database and currently have crews out in the field sampling and prospecting, with the goal of making more discoveries. With the addition of DG5 and DG6, we are now the largest mineral licence holder in Northern Ireland."
The Curraghinalt gold deposit sits at the heart of the 12-kilometre northwest/southeast oriented Curraghinalt Trend, where numerous gold showings have been identified through drilling, geochemistry, sampling and trenching. These include the Alworries discovery, where drilling returned 14.82 g/t gold over 4.72 m (November 15, 2012 press release). In addition to the Curraghinalt Trend, the Company has identified a series of gold targets along the North East Corridor that are parallel to the Omagh Thrust/perpendicular to the Curraghinalt Trend and have strong coincident district-scale gold and arsenic anomalies first identified in the Tellus Survey. At one of these targets at the southwestern end of the corridor, Dalradian sampled up to 168 g/t gold within a 60-cm-wide in-situ quartz vein (December 2, 2015press release).
The table below summarizes the high priority targets (approximate locations of which are shown on the licence map available athttp://www.dalradian.com/news-and-events/news-releases/news-releases-details/July-6-2016-News-Release-Figures/.)
---------------------------------------------------------------------------- Target Target Significant Samples Sample Type Historical defined by Drilling ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- DG1-001 EM, IP, and Historical prospecting: Trench and 12 shallow mineralized 141.2 g/t Au from float Prospecting drill holes outcrop and Recent prospecting: float 33.94 g/t Au from float Recent prospecting: 1.62 g/t Au from float ---------------------------------------------------------------------------- DG1-002 Historical Historical shallow drill Drill hole 44 shallow drilling, hole: 0.6 m at 61.43 g/t drill holes mineralized Au from 51.50 m to 52.10 outcrop and m float Recent relogging & resampling are ongoing ---------------------------------------------------------------------------- DG1-003 Au soil 11.68 g/t Au from float Prospecting None geochemistry 91.5 g/t Au from float and Trench: Float during mineralized excavation 14.65 g/t Au; float no bedrock mineralisation encountered ---------------------------------------------------------------------------- DG1-004 Mineralised Prospecting: 8.6 g/t Au, Prospecting, None outcrop & 7.7 g/t Au, 6.48 g/t Au, Drill hole float, Tellus all from float EM, Drilling 2013 Drilling: 0.11 m at 3.04 g/t Au, 0.50 m at 0.54 g/t Au ---------------------------------------------------------------------------- DG2-008 Historical Historical results: Prospecting, 21 historic drilling, Prospecting: 13.76 g/t Drill hole holes, 2 mineralized Au in outcrop recent outcrop and Drilling: 3.63 m at float 30.12 g/t Au and 44.31 g/t Ag Recent results: Drilling: 0.39m at 9.44 g/t Au and 6 g/t Ag ---------------------------------------------------------------------------- DG3-005 Au soil Historical results: Prospecting 3 shallow geochemistry, 1.63 g/t Au from drill holes mineralized graphitic pelite outcrop outcrop and 1.88 g/t Au from float outcropping quartz vein Recent results: 139.5 g/t Au in outcrop 168 g/t Au in outcrop 42.4 g/t Au in outcrop ---------------------------------------------------------------------------- DG3-009 Prospecting Historical prospecting: Prospecting None 89.6 g/t Au in float Recent prospecting: 11.07 g/t Au in outcrop ---------------------------------------------------------------------------- DG4-010 Prospecting, Historical prospecting: Prospecting None Au soil 187 g/t Au in float geochemistry ---------------------------------------------------------------------------- DG5-007 Panned Historical results: Prospecting Yes, for a concentrate 80 ppm Au in panned base metal concentrates anomaly ---------------------------------------------------------------------------- DG5-011 Prospecting, Historical results: Prospecting None Panned 26 g/t Au in outcrop concentrate greater than 10 ppm Au in panned concentrates ---------------------------------------------------------------------------- DG6-006 Prospecting, Historical results: Prospecting None Panned 5.7 g/t Au in float concentrate 187.8 ppm Au, 59.07 ppm Au, 29.56 ppm Au in panned concentrates ---------------------------------------------------------------------------- Greg Hope, MSc, MAIG, Exploration and Geology Manager, Dalradian Resources, is the Qualified Person who supervised the preparation of the technical data in this news release.
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 and underground exploration (at least 950 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.
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