TORONTO, ONTARIO -- (Marketwired) -- 07/04/13 -- Dalradian Resources Inc. ("Dalradian" or the "Company") (TSX: DNA)(OTCQX: DRLDF) today announced that Mr. Colin Benner has tendered his resignation for health reasons effective immediately. Mr. Benner has served on the board since the Company went public in August 2010.
"As a founding member of the board of Dalradian, Colin has been a key contributor in the evolution of the Company. His knowledge and insight has been invaluable," stated Patrick F. N. Anderson, Chief Executive Officer. "Our best wishes for a speedy recovery go out to Colin and his family."
About Dalradian Resources Inc.:
Dalradian Resources Inc. is a TSX-listed, Canadian based exploration company engaged in the acquisition, exploration and development of precious and base metals projects. With a European focus, our most advanced property is in Northern Ireland and around the high-grade lode 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 Northern Ireland properties.
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 Preliminary Economic Assessment reported positive results for a proposed underground mine at Curraghinalt including an after-tax IRR of 41.9% and NPV of $467 million based on an 8% discount rate using a 3 year trailing average gold price of $1378 per ounce.
Dalradian's technical report, "A Preliminary Economic Assessment of the Curraghinalt Gold Deposit, Tyrone Project, Northern Ireland" dated September 6, 2012, was prepared in accordance with NI 43-101 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 (the "PEA"), and is available on SEDAR at www.sedar.com. The PEA is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the results of the PEA will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
In Norway, Dalradian holds mineral rights for approximately 1.3 million hectares over three greenstone belts, as well as an area hosting an historical silver mining district. Dalradian is engaged in data acquisition and analysis over all its concessions.
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