TORONTO, ONTARIO--(Marketwired - Nov. 4, 2014) - Dalradian Resources Inc. (TSX:DNA)(TSX:DNA.WT.A) reports that it has filed on SEDAR the National Instrument 43-101 (NI 43-101) technical report for its new preliminary economic assessment ("PEA") for the Curraghinalt gold deposit in Northern Ireland. Highlights of the report were previously announced on October 30, 2014.
The PEA is dated October 30, 2014, entitled "An Updated Preliminary Economic Assessment of the Curraghinalt Gold Deposit, Tyrone Project, Northern Ireland" and was prepared by Messrs. Jacobs, Gowans, Villeneuve and Foo of Micon International Ltd. and Mr. Maunula of T. Maunula & Associates Consulting Inc. It is available at www.sedar.com and www.dalradian.com.
As an update to the Company's announcement of October 2, 2014, Dalradian also reports the publication of a Schedule 1 Pre-Admission Announcement pursuant to the AIM Rules for Companies, with a target date of December 3, 2014 for admission of the Company's common shares to trading on the AIM market of the London Stock Exchange plc.
Further updates regarding Dalradian's London listing will be made as appropriate.
Dalradian Resources Inc. is a TSX-listed gold development and exploration company focused on advancing its high-grade Curraghinalt gold deposit in Northern Ireland.
The October 2014 PEA of the Curraghinalt deposit demonstrated positive economics, including an after-tax IRR of 36.2% at a gold price of US$1,200 per ounce, for an underground mine producing 162,000 ounces of gold per year on average over 18 years. The PEA was based on the January 20, 2014 resource estimate. Curraghinalt hosts an NI 43-101 compliant measured mineral resource of 0.02 MT grading 20.15 g/t gold for 15,100 contained ounces, indicated mineral resource of 2.98 MT grading 10.34 g/t gold for 989,000 contained ounces and inferred mineral resource of 8.01 MT grading 9.67 g/t for 2,487,700 contained ounces. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Dalradian's NI 43-101 report is dated October 30, 2014, entitled "An Updated Preliminary Economic Assessment of the Curraghinalt Gold Deposit, Tyrone Project, Northern Ireland", was prepared by Messrs. Jacobs, Gowans, Villeneuve and Foo of Micon International Ltd. and Mr. Maunula of T. Maunula & Associates Consulting Inc., and is available on SEDAR at www.sedar.com.
Dalradian's Common Shares and currently outstanding warrants are listed on the Toronto Stock Exchange under the symbol "DNA", "DNA.WT" and "DNA.WT.A" respectively. For further information, please see www.dalradian.com.
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, test work and confirming results from work performed to date, estimation of mineral resources and the realization of the expected economics of the Curraghinalt Gold Deposit. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, 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 opinions and estimates of management as of the date such statements are made and are based on various assumptions, such as continued political stability in Northern Ireland, that permits required for the Company's operations will be obtained in a timely basis in order to permit the Company to proceed on schedule with its planned development and exploration programs, that skilled personnel and contractors will be available as the Company's operations continue to grow, that the price of gold will be at levels that render the Company's mineral project economic, that the Company will be able to continue raising the necessary capital to finance its operations and realize on mineral resource estimates, and that the assumptions contained in the PEA are accurate and complete.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; actual results of reclamation activities; conclusions of economic evaluations; meeting various expected cost estimates; changes in project parameters as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Risk Factors" in the Company's annual information form.
Although the Company has attempted to identify important 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 anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.