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Positive feasibility results for Dalradian’s Northern Ireland gold mine

Dalradian Resources has received a positive feasibility study on its 100%-owned Curraghinalt gold project, in Northern Ireland. The study was prepared by JDS Energy and Mining Inc, supported by SRK Consulting.

Based on reserves of 5.24 Mt at grades of 8.54 g/t gold and 3.9 g/t silver, for 1.44 Moz of gold and 0.66 Moz of silver contained, the study considers an underground mine with a life of 10.5 years to produce an average of 130 koz/y of gold at a LOM AISC of US$674/oz.

The estimated capital cost is US$192 million and using a gold price of US$1,250/oz the mine would provide an IRR of 24.2% after tax and give payback within four years.

Dalradian will now work on its planning application as well as completing the ESIA and continuing with drilling and engineering design work.

The feasibility study does not take into consideration 2.3 Moz of inferred resources but the company believes that there are opportunities to extend the mine’s life by converting these resources to reserves.

Positive feasibility results for Dalradian’s Northern Ireland gold mine: DALR

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