Dalradian Resources, Inc. DRLDF

RE:RE:well done team DNA...

[R_J_]

Here is a 4 page PDF copy of the May 5 News Release that halted Dalradian’s tradeing.
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Dalradian announces new Mineral Resource Statement for Curraghinalt,
including a 109% increase in Measured & Indicated gold ounces
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https://s1.q4cdn.com/162468244/files/doc_news/2016/may/DNA_PR_May2016_resource-update_final2.pdf
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Louis James’ Comment
Quote:
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This is great news from Dalradian, exceeding our expectations.
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As it’s based on mostly infill drilling, we expected a substantial upgrade of Inferred to Indicated resources, and we got that (some measure too, but not much, which we also expected).
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What we did not expect was the significant overall increase of the resource in all categories, from 3.5 million ounces before, to 4.4 million now.
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The slightly higher average grade is a plus too.
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In short, it’s bigger, richer, and more likely to be real.
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These Measured and Indicated ounces will be the basis of the Proven and Probable ounces in the feasibility study.
2.1 million of them would generate a 20-year mine life at 100,000 ounces per year, and that’s the size threshold may larger companies look for when buying assets like this.
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The diluted estimate is a bit smaller, because the narrowest vein sections are cut out, but most of the gold is still there under those constraints, showing good consistency—just what Louis James saw when he was underground at Curraghinalt last weekend.
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Substantial added value has been announced today, and, as per our previous comments, the company has the cash in hand to finish what’s on its plate this year, and options for raising more without (much, if any) new dilution.
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End Quote.
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RJ