VANCOUVER — Dalradian Resources (TSX: DNA; US-OTC: DRLDF) has completed a feasibility study at its high grade Curraghinalt gold deposit, 127 km west of Belfast, Northern Ireland, that models a 1,400-t/d underground operation. The company has spent the past year improving confidence in its reserves, including a test stoping program that returned higher grades than predicted by current resource models.
The study is the first major update since a preliminary economic assessment (PEA) in late 2014. The company has cut the mine production rate from 1,700 t/d under the previous study, which has dropped average anticipated gold production from 194,000 oz to 130,000 oz per year.
The updated plan models life-of-mine gold production of 1.36 million oz of gold over 10.5 years at all-in sustaining cash cost of US$674 per oz. The smaller scale allows for lower pre-production capital costs, which have declined US$80 million to US$192 million.
Read the entire story at The Northern Miner.