Dalradian Resources (DNA.TO) has announced it received approval from the Omagh District Council to start its underground exploration plans at the Curraghinalt gold project in Northern Ireland. Dalradian has started the hiring process for technical staff required for the underground workings and has put out a tender request for surface and underground contracts for the project.
Dalradian plans to complete a further 2,000 meters of underground development which will be used to confirm the thickness and grade of the mineralized zones and to extract a bulk sample for further metallurgical studies.
The Curraghinalt project currently has a resource estimate of 2.7 million ounces of gold and the PEA revealed an after-tax NPV8% of $331M and an IRR of in excess of 33% using a gold price of just $1166/oz. This means the Curraghinalt project probably is one of the most exciting gold projects in Europe.
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Disclosure: The author holds a long position in Dalradian Resources. Please see our disclaimer for current positions.
