TORONTO, July 28, 2011 -
Dalradian Resources Inc. (“Dalradian“ or the “Company“) (TSX: DNA )(TSX: DNA.WT) is pleased to announce the completion of a Phase I prospecting campaign at its Tyrone Project in Northern Ireland. At least 19 gold and base metal targets have now been identified using data from this recent program, historic exploration data and the Tellus Project. Drilling details for a Phase II scout program will be announced shortly.
CEO Patrick F. N. Anderson states, “These targets demonstrate the pervasive nature of gold and base metals mineralization throughout our license areas. With this data in hand we are planning and preparing to execute an aggressive and systematic regional drilling program. Elements of this plan are already in place and a dedicated drill is currently on the property.“
The regional prospecting program involved four field groups working through Q1 and Q2 2011. They covered approximately half of the Tyrone Project area and took more than 900 outcrop and float samples. These samples served to compliment an existing historic database of over 1500 prospecting samples.
Historic Prospecting
License Area Total Samples Outcrop Samples Float Samples Other Au Values (g/t) Significance
DG-01 461 40 300 121 up to 172.9 287 samples over 0.25g/t Au
DG-02 691 81 299 311 up to 112.2 227 samples over 0.25g/t Au
DG-03 350 31 246 73 up to 209.9 83 samples over 0.25g/t Au
DG-04 261 21 233 7 up to 187.0 17 samples over 0.25g/t Au
2011 Program
License Area Total Samples Outcrop Samples Float Samples Au Values (g/t) Significance
DG-01 316 139 177 up to 44.96 88 samples over 0.25g/t Au
DG-02 270 144 126 up to 5.48 31 samples over 0.25g/t Au
DG-03 184 86 98 up to 14.08 22 samples over 0.25g/t Au
DG-04 159 97 62 up to 2.07 2 samples over 0.25g/t Au
The concessions cover two distinct geological environments, the Dalradian Supergroup of predominately metasediments to the north and the Tyrone Volcanic Group, an igneous complex, to the south. Each of the two terrains offers targets for follow up and scout drilling.
Tyrone Volcanic Group Targets
Target Name Area Target defined by Significant samples Sample Type Geology
Historic Drilling
TVG1 750m x 350m Historic drilling, trenching, magnetic high, Au soil geochemistry, and mineralized outcrop and float. Trench: 1.5m at 4.4g/t Au Trench Auriferous chert-magnetite horizon. Interpreted to be exhalative unit. 2 shallow drillholes
TVG2 2.9km x 1.9km EM, Au and Zn-Pb-Cu soil geochemistry, and mineralized outcrop and float. 1.6g/t Au and 4.3% Cu+Pb+Zn from outcrop. Prospecting Outcrop of altered tuffs in poorly exposed area. 15 shallow drillholes
TVG3 750m x 500m Au soil geochemistry and mineralized float. 5.5g/t Au from quartz float. Prospecting Rhyolite – tonalite contact with abundant angular quartz float with visible gold. None
TVG4 350m x 300m Historic drilling and trenching, EM, Au soil geochemistry, and mineralized outcrop and float. Historic shallow drillhole: 3.63m at 30.1g/t Au. Drillhole Rhyolite breccia with gold and base metals. Airborne geophysics shows new EM anomalies. 15 shallow drillholes
TVG5 4.5km x 700m EM, IP, magnetics, Zn-Cu soil geochemistry, and mineralized outcrop and float. Historic Prospecting: 4.5g/t Au in ironstone Prospecting Mineralized ironstone overlying altered tuffs and basalts. None
TVG6 3.5km x 2.2km EM, Au soil geochemistry, and mineralized outcrop and float. 2.2g/t Au and 3.0% Cu+Pb+Zn from outcrop. Prospecting Auriferous rhyolite breccias and tuffs with galena and sphalerite. None
TVG7 1.2km x 1km EM and IP, Zn-Cu soil geochemistry, and mineralized outcrop and float. Historic Prospecting: 1.9g/t Au in float Prospecting Altered volcanic tuffs with quartz veins. None
Dalradian Supergroup Targets
Target Name Area Target defined by Significant samples Sample Type Geology
Historic Drilling
DSG1 7km x 600m EM, IP, and mineralized outcrop and float. Trench: 9.5m at 5.6% Zn+Pb. Historic Prospecting: 141.2g/t Au from float. Recent prospecting: 33.9g/t Au from float. Trench and Prospecting Metasediment hosted quartz vein and stratiform gold and base metal mineralization. 12 shallow drillholes
DSG2 2km x 50m Au soil geochemistry, mineralized subcrop and float. 10.5g/t Au from float. Prospecting Graphitic pelite hosted breccia zone up to 50m wide and 2km long. None
DSG3 1.8km x 375m Mineralized float. 44.9g/t Au and 32.8g/t Au from float. Prospecting Quartz float 200m east of drilled mineralization at Curraghinalt. None
DSG4 1.5km x 700m Au soil geochemistry, mineralized outcrop and float. Channel: 0.88m @ 39.4g/t Au. Channel Quartz vein 2km east along strike from Curraghinalt. None
DSG5 1km x 600m Historic drilling, and mineralized outcrop and float Historic shallow drillhole: 0.6m @ 61.4g/t Au Drillhole Quartz vein 4.5km west along strike from Curraghinalt. 44 shallow drillholes
DSG6 7.5km x 600m Au soil geochemistry and mineralized float. 22.4g/t Au from quartz float. 3.4g/t Au from silicified metasediment float. Prospecting Wide range of float styles in river valley. None
DSG7 2.5km x 650m Au soil geochemistry and mineralized float. 11.7g/t Au from float Prospecting Quartz float in river valley. None
DSG8 2.3km x 1.7km Au soil geochemistry, mineralized outcrop and float. 14.1g/t Au from quartz float with pyrite. 8.2g/t Au from silicified metasediment float. Prospecting Float train of silicified metasediments and quartz veins. None
DSG9 2km x 1.5km Au soil geochemistry, mineralized outcrop and float. 2.9g/t Au from outcrop. Prospecting Silicified quartzite with disseminated and fracture fill pyrite. None
DSG10 2.3km x 0.9km Au soil geochemistry, mineralized outcrop and float. 1.6g/t Au from graphitic pelite outcrop. 1.9g/t Au from outcropping quartz vein. Prospecting Silicified graphitic pelite and quartz veins. 3 shallow drillholes
DSG11 4km x 1km Au soil geochemistry, mineralized outcrop and float. 2.3g/t Au from float. Prospecting Quartz breccias with pyrite in metasediments. None
DSG12 2km x 1km Au soil geochemistry, mineralized outcrop and float. 2.1g/t Au from outcrop. Prospecting Quartz vein with pyrite. None
The Tyrone Volcanic Group is an environment favourable for the formation of Volcanogenic Massive Sulphide (VMS) deposits. It is interpreted to have a similar origin as the Buchans VMS camp in Newfoundland and contains an abundance of float with VMS-style mineralization. Gold and base metal mineralization is most prevalent within the upper part of the volcanic sequence. Historic prospecting results include siliceous tuff assaying 16.1% Pb and 1.5g/t Au; and chloritic tuff assaying 8.8% Zn, 1.2% Pb and 1.7g/t Au.
In the Dalradian Supergroup, the highest priority exploration targets are within the Curraghinalt structural corridor, an area of approximately 8km of strike length and 3km width, centred on the Curraghinalt mesothermal gold deposit.
Qualified Person
EurGeol Garth Earls, Managing Director, Dalradian Gold Limited, is the Qualified Person who supervised the preparation of the technical data in this news release.
Omac Laboratories Ltd. (ISO/IEC 17025 accredited) of Loughrea, Republic of Ireland, performed the assays.
Dalradian Resources Inc.: A golden opportunity in Northern Ireland
Dalradian is a Canadian-based exploration company working to increase its gold resources at its approximately 84,000-hectare Tyrone Project, which encompasses its flagship Curraghinalt mesothermal gold deposit, in counties Tyrone and Londonderry in Northern Ireland. Its active exploration program is underway with six drill rigs operating on the Tyrone Project. Curraghinalt hosts an NI 43-101 compliant indicated mineral resource of 0.95 MT grading 13.24 g/t gold for 400,000 contained ounces and inferred mineral resource of 2.46 MT grading 14.64 g/t gold for 1.16 million contained ounces. Dalradian's NI 43-101 report, “A Mineral Resource Estimate for the Curraghinalt Gold Deposit and a Review of a Proposed Exploration Program for the Tyrone Project, County Tyrone and County Londonderry, Northern Ireland“ is dated May 10, 2010, and prepared by Micon International Limited. Dalradian's common shares and warrants are listed on the Toronto Stock Exchange under the symbols DNA and DNA.WT respectively. For further information, please see www.dalradian.com.
Forward-looking Information
This news release includes certain information that may constitute “forward-looking information“ under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, spending commitments, future operations, results of exploration, future work programs, capital expenditures and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results (including mineralization) and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's prospectus under the heading “Risk Factors.“ There can be no assurance that such information will prove to be accurate, as actual results (including mineralization) and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
To view Figure 1 - 2011 Prospecting DG-01 – DG-04, please visit the following link:
http://media3.marketwire.com/docs/DNAfigure1.jpg
To view Figure 2 - Historic Prospecting DG-01 – DG-04, please visit the following link:
http://media3.marketwire.com/docs/DNAfigure2.jpg
To view Figure 3 - Target Location Map, please visit the following link:
http://media3.marketwire.com/docs/DNAfigure3.jpg
Contact Information
Dalradian Resources Inc.
Shae-Lynn Mathers, Director, Investor Relations
+1.416.583.5622
investor@dalradian.com
www.dalradian.com
