Hole 11-CT-94 was the first of the historical holes selected for resampling, as it intersects seven of the main D-veins as well as numerous footwall veins, some of which are now recognized as C-veins. Previous sampling of 11-CT-94 had 27 assays reporting greater than 1 g/t of gold. As a result of re-logging and additional sampling, another fifty-five assays reported greater than 1 g/t of gold, with ten of those assaying greater than 10 g/t of gold (Figure 2).
Hole 12-CT-170, had previously reported 0.76 m grading 33.60 g/t of gold (PR Feb 13). Additional results incorporating C-vein material have expanded that zone considerably to 7.21 m grading 7.58 g/t of gold. This interval is interpreted as part of the T17 - No. 1 Vein Zone, which consists of a principal D-vein as well as a number of gold bearing C-veins. By interpreting and sampling mineralized zones, rather than individual veins as was done historically at Curraghinalt, we are able to identify wider mineralized envelopes (Figure 3).
Another example of C-vein impact is seen in the Mullan Vein Zone in hole 13-CT-182. Assaying only the discrete D-vein gives 2.19 m grading 8.80 g/t of gold. By incorporating adjacent C-veins, this can be expanded to 7.38 m grading 4.2 g/t of gold. This intercept is likely conservative due to 0.5 m of core loss between 33.71 m and 41.09 m, which was treated as having a grade of 0.0 g/t of gold.
Michele L. Cote, MSc., P. Geo., VP Exploration, 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 0.10 m and 0.30 m in mineralized material and up to 1 m in wall rock were submitted to ALS Laboratories 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.
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 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 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. Mineral resources which are not mineral reserves do not have demonstrated economic viability. 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.
Most Popular Stories
- American Airlines, US Airways Complete Merger
- ACA Delay Stresses Small Businesses
- Questions Remain in Jenni Rivera's Death
- Unemployed Wait as Lawmakers Debate
- General Dynamics Plans 200 New Jobs in N.M.
- Harley Issues Motorcycle Recall
- Dell Offers Undisclosed Number of Employee Buyouts
- Auto Dealer Builds Big Solar Project
- Saab Gets Back into the Game; U.S. Auto Sales Soar
- Entrepreneurs' Next Creation May Be New Laws