Mr. Patrick Anderson reports
DALRADIAN ANNOUNCES RESOURCE INCREASE AT CURRAGHINALT
Dalradian Resources Inc. has released an updated mineral resource estimate for its 100-per-cent-owned Curraghinalt gold deposit, part of the Tyrone project, located in Northern Ireland.
MINERAL RESOURCES
(as at Nov. 30, 2011)
Resource category Million tonnes Grade (g/t Au) Contained metal
(five g/t cut-off) Tonnes M oz
Measured 0.02 21.51 0.44 0.01
Indicated 1.11 12.84 14.20 0.46
Measured plus indicated 1.13 13.00 14.65 0.47
Inferred 5.45 12.74 69.44 2.23
"Our Curraghinalt gold deposit continues to deliver," comments chief executive officer Patrick Anderson. "Our drilling program over the past year has increased the previous resource estimate by 73 per cent and the deposit remains open along strike, across strike and downdip. Currently, all of our rigs are working on an infill drilling program, but we expect to restart drilling along trend and on our regional targets in the next week."
The company intends to file a National Instrument 43-101-compliant technical report in respect of the updated mineral resource estimate on SEDAR and on the company's website within 45 days of this news release.
Key assumptions of the updated mineral resource estimate for the Curraghinalt gold deposit are as follows:
- The mineral resource estimate for the Curraghinalt gold deposit has been
prepared and categorized for reporting purposes by D. Mukhopadhyay,
MAusIMM (CP), senior mineral resource geologist of Micon International
Co. Ltd., following the guidelines of the Canadian Institute of
Mining, Metallurgy and Petroleum. Mr. Mukhopadhyay is a qualified person
as defined by NI 43-101 on the basis of training and experience in the
exploration, mining and estimation of mineral resources of gold deposits,
and is independent of Dalradian.
- The mineral resource estimate for the Curraghinalt gold deposit is
defined primarily by diamond core drilling, underground exploration and
trench channel sampling. Drilling was conducted on a grid of 30 metres by 30 m
to 200 m by 200 m. Underground and trench channel samples are spaced at
intervals of three m to six m.
- The Curraghinalt gold deposit consists of a series of parallel to subparallel veins and splays trending east-west to northwest-southeast. There are 35 separate
structures identified.
- Drill core, underground and trench samples were assayed for gold. All
samples were regularized to vein width.
- Mineralization envelopes were defined using a cut-off grade of one gram per tonne Au.
- The gold price used for calculating the cut-off grade was $900 (U.S.) per ounce.
- Block grades were interpolated using inverse distance with a power of five and were verified by ordinary kriging on a few major veins. Estimation
was carried out for linear metal accumulation g/t and length of the
composited samples. Gold grades were recalculated from these two
estimations.
- Bulk density of the mineralization was based on actual data collected
during exploration. The bulk density factor varied based on individual
veins and ranged from 2.70 tonnes per cubic m to 3.09 tonnes per cubic m.
- Blocks with a vein width of 0.1 m were considered as part of the
resource. All the selected blocks were diluted to one m width. A grade
cut-off of five g/t was considered after dilution for inclusion in the
resource. Categorization of mineral resources was done based on the
following criteria:
measured mineral resources are defined as those portions of the
deposit which have underground channel samples within a 15 m radius;
indicated mineral resources were defined as those portions of the
deposit which were drilled with a density of 30 m by 30 m; and inferred mineral resources were defined as those portions of the
deposit for which the drill spacing is about 200 m by 200 m.
-
Omac Laboratories Ltd. (ISO/IEC 17025 accredited) of Loughrea, Republic
of Ireland, performed the assays.
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