Dalradian intersects1.54 metres at g/t gold from drilling at Curraghinalt

Transcription

1 Dalradian Resources Inc. Queen s Quay Terminal 207 Queens Quay West Suite 416 Toronto, ON M5J 1A7 Canada t TSX: DNA AIM: DALR Dalradian intersects1.54 metres at g/t gold from drilling at Curraghinalt TORONTO, May 1, 2017 /GlobeNewswire/ - Dalradian Resources Inc. (TSX:DNA; AIM:DALR) ( Dalradian or the Comany ) is leased to reort results from 13 ste-out drill holes and 30 infill drill holes at the Curraghinalt gold deosit in Northern Ireland. Highlights Ste out: 0.46 m of g/t gold from the V75 vein in hole 17-CT-462 Ste-out: 0.26 m of g/t gold from the vein in hole 17-CT-464 Infill: 1.54 m of g/t gold from the Mullan vein in hole 17-CT-472 Infill: 0.87 m of g/t gold from the No.1 vein in hole 17-CT-482a Infill: 0.26 m of g/t gold from the T17 vein in hole 17-CT-485 Infill: 0.27m of g/t gold from the V55 vein in hole 17-CT-486 Infill: 1.01 m of g/t gold from the Crow vein in hole 18-CT-491a Infill: 0.54 m of g/t gold from the Mullan vein in hole 17-CT-493 Infill: 0.43 m of g/t gold from the V55 vein in hole 17-CT-493 Patrick F.N. Anderson, Dalradian's President and CEO, commented: All of the results for the drill rogram are now released to suort the imminent udate to our Mineral Resource. As exected, we have both extended the strike length of the system and identified a number of new veins. Details of drilling at Curraghinalt Results are being reorted for 43 drill holes for a total of 16,775 metres. Thirteen of the drill holes were drilled from surface targeting extensions to the west of the veins included in the last resource. The remaining 30 drill holes were infill holes, with 17 drilled from surface and 13 drilled from underground and are in the central art of the Curraghinalt deosit (see lan ma and cross section at htt:// These holes were drilled at varying intervals targeting some of the veins included in the last mineral resource estimate (see the Comany s Technical Reort, as defined below, dated January 25, 2017) in zones where increased drill hole density will likely result in the conversion of resource ounces from the Inferred to the Indicated category. These intercets correlate with and imrove the current geological model with resect to the continuity and smoothness of the individual vein wireframes. Selected Curraghinalt Drill Intersections Hole ID 17-CT / New Vein Infill 17-CT / New Vein Ste-out 17-CT / Ste-out 17-CT / Bend Ste-out Page 1 of 5

2 Hole ID 17-CT / Slashot Ste-out 17-CT / V75 Ste-out 17-CT / Bend-S Ste-out 17-CT / Shee Di Ste-out 17-CT / Bend Ste-out 17-CT / Ste-out 17-CT / Crow Ste-out 17-CT / Mullan Infill 17-CT / Infill 17-CT / Mullan Infill 17-CT / No.1 Infill 17-CT / Infill 17-CT / Crow Infill 17-CT / Mullan Infill 17-CT / Causeway Infill 17-CT / Bend Infill 17-CT / Crow Infill 17-CT / Mullan Infill 17-CT / No.1 Infill 17-CT / Infill 17-CT / No.1 Infill 17-CT-482a 160/ No.1 Infill 17-CT-482c 160/ Infill 17-CT-482c 160/ Bend-S Infill 17-CT / Serrin Infill 17-CT / No.1 Infill 17-CT-484a 145/ Infill 17-CT / Mullan Infill 17-CT / T17 Infill 17-CT / V55 Infill 17-CT / Infill Page 2 of 5

3 Hole ID 17-CT / V75 Infill 17-CT / Bend Infill 17-CT / Shee Di Infill 17-CT / V55 Infill 17-CT / Crow Infill 18-CT / Mullan Infill 18-CT / Infill 18-CT / V75 Infill 18-CT-491a 200/ Grizzly Infill 18-CT-491a 200/ No.1 Infill 18-CT-491a 200/ Crow Infill 18-CT-491b 200/ T17 Infill 18-CT-491b 200/ No.1 Infill 18-CT-491b 200/ Crow Infill 18-CT / No.1 Infill 18-CT / Bend Infill 18-CT / Mullan Infill 18-CT / Grizzly Infill 18-CT / V55 Infill 18-CT / No.1 Infill 18-CT / Infill Notes True widths vary deending on the vein zone intersected but generally average 80% of the down hole interval Intercets are calculated using samles greater than or equal to 2.0g/t Au and contain no more than 1.0m of internal dilution Only those mineralized intercets exceeding 10 gram-metres for infill drill holes and exceeding 5 grammetres for ste-out drill holes have been included in the table 17-CT-425, 17-CT-425a, 17-CT-430, 17-CT-434, 17-CT-448, 17-CT-448a, 17-CT-448b, 17-CT-448c, 17-CT-466, 17-CT-480, 17-CT-481, 17-CT-482b, 17-CT-484, 18-CT-487, 18-CT-488, 18-CT-490, 18-CT-491 and 18-CT-491c interceted the rojected veins, but no significant mineralisation was encountered Qualified Person Eric Tremblay, P. Eng., Chief Oerating Officer and Greg Hoe, MSc, MAIG, Exloration and Geology Manager, are the Qualified Persons who suervised and reviewed the rearation of the technical data in this news release. Drill core was halved with samles (averaging between 0.25 m and 0.50 m in mineralized material and u to 1 m in wall rock) submitted to ALS Laboratories in the Reublic of Ireland. Rigorous quality assurance and quality control rocedures, including the use of blanks, standards and dulicates, identified no material issues. Core Page 3 of 5

4 samles were analyzed by a 50 gram gold fire assay with either an atomic absortion, or a gravimetric finish for samles initially reorting over 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 comliance with the International Standard ISO/IEC 17025:2005 2nd Edition "General Requirements for the Cometence of Testing and Calibration Laboratories". For additional details on the Curraghinalt high-grade lode gold deosit, lease refer to the Comany s technical reort titled NI Feasibility Study Technical Reort on the Curraghinalt Gold Project Northern Ireland (the Technical Reort ), dated January 25, 2017 and reared by Garett Macdonald, P.Eng., Michael Makarenko, P.Eng., Indi Goinathan, P.Eng. and Stacy Freudigmann, P.Eng., all of JDS Energy & Mining Inc., and Jean-François Couture, P.Geo., Bruce Murhy, 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 indeendent Qualified Persons as defined by NI The Technical Reort is available on the Comany s website and on SEDAR at About Dalradian Resources Inc. Dalradian Resources Inc. is a mineral exloration and develoment comany that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Curraghinalt Project is in ermitting, with exloration ongoing to build on the ositive feasibility study released in January For more information: Marla Gale Vice President Communications investor@dalradian.com Grant Thornton UK LLP (Nominated Adviser) Phili Secrett / Richard Tonthat +44 (0) Numis Securities Limited (Broker) John Prior / James Black / Paul Gillam +44 (0) FORWARD LOOKING STATEMENTS This ress release contains forward-looking information which may include, but is not limited to, statements with resect to future financial or oerating erformance of the Comany and its subsidiaries and its mineral roject, the future rice of metals, test work and confirming results from work erformed 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 roduction, costs of roduction, caital, oerating and exloration exenditures, costs and timing of the develoment of new deosits, costs and timing of future exloration, requirements for additional caital, government regulation of mining oerations, environmental risks, reclamation exenses, title disutes or claims, limitations of insurance coverage, the timing and ossible outcome of ending regulatory matters and the realization of the exected roduction, economics and mine life of the Curraghinalt gold deosit. Often, but not always, forward-looking statements can be identified by the use of words and hrases such as lans, exects, is exected, budget, scheduled, estimates, forecasts, intends, anticiates, or believes or variations (including negative variations) of such words and hrases, 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 oinions and estimates of management as of the date such statements are made and are based on various assumtions, such as continued olitical stability in Northern Ireland, that ermits required for Dalradian s oerations will be obtained in a timely basis in order to ermit Dalradian to roceed on schedule with its lanned exloration and mine develoment, construction and roduction rograms, that skilled ersonnel and contractors will be available as Dalradian s oerations commence and continue to grow towards roduction and mining oerations, that the rice of gold will be at levels that render the Dalradian s mineral roject economic, that the Comany will be able to continue raising the necessary caital to finance its oerations and realize on mineral resource and mineral reserve estimates and current mine lans, that the assumtions contained in the Comany s Technical Reort dated January 25, 2017 are accurate and comlete and that a ermitting alication for mine construction will be aroved. Page 4 of 5

5 Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, erformance or achievements of Dalradian to be materially different from any future results, erformance or achievements exressed or imlied by the forward-looking statements. Such factors include, among others, general business, economic, cometitive, olitical and social uncertainties; the actual results of current and future exloration activities; the actual results of reclamation activities; conclusions of economic evaluations; meeting various exected cost estimates; changes in roject arameters and/or economic assessments as lans continue to be refined; future rices of metals; ossible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; failure of lant, equiment or rocesses to oerate as anticiated; accidents, labour disutes and other risks of the mining industry; olitical instability; delays in obtaining governmental arovals or financing or in the comletion of develoment or construction activities, as well as those factors discussed in the section entitled Risk Factors in the Comany s Annual Information Form for the year ended December 31, 2016 dated March 23, Although the Comany has attemted to identify imortant 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 anticiated, estimated or intended. Forward-looking statements contained herein are made as of the date of this ress release and the Comany disclaims any obligation to udate any forward-looking statements, whether as a result of new information, future events or results, excet as may be required by alicable securities laws. There can be no assurance that forward-looking statements will rove to be accurate, as actual results and future events could differ materially from those anticiated in such statements. Accordingly, readers should not lace undue reliance on forward-looking statements. Page 5 of 5