ROUYN-NORANDA, Dec. 01, 2020 - Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF): (“Radisson” or the “Company") is pleased to announce significant high-grade gold intercepts from the ongoing 60,000 m exploration drill program at its O’Brien gold project located along the Larder-Lake-Cadillac Break, halfway between Rouyn-Noranda and Val-d’Or in Quebec, Canada.
Notable drill results
|Hole || ||From |
|OB-20-158 || || || || || || |
| || ||272.00 ||274.00 ||2.00 ||8.68 ||Pich? Tuff |
| ||Including ||273.00 ||274.00 ||1.00 ||17.35 || |
|OB-20-159 || || || || || || |
| || ||148.55 ||151.70 ||3.15 ||10.87 ||Pich? Basalt |
| ||Including ||148.55 ||150.90 ||2.35 ||13.15 || |
| ||And ||184.00 ||188.60 ||4.60 ||7.32 ||Pich? Conglomerat/Porphyry |
| ||Including ||186.50 ||188.60 ||2.10 ||13.61 || |
| ||Which includes ||187.60 ||188.60 ||1.00 ||27.40 ||VG |
|OB-20-167 || || || || || || |
| || ||637.50 ||640.00 ||2.50 ||110.97 ||Pich? Porphyry, VG |
| ||Including ||637.50 ||638.50 ||1.00 ||16.40 ||VG |
| ||And ||639.30 ||640.00 ||0.70 ||371.00 ||VG |
1. VG denotes the presence of visible gold
2. Core length or down hole width. True widths are estimated at 70% to 80% of down hole width. To the extent possible, primary intercepts reflect minimum mining width (1.5 m true width) consistent with assumptions used in the 2019 resource estimate.
3. Assay grades shown uncapped. A capping factor of 60 g/t Au was used in the 2019 resource estimate
4. Table includes only intercepts that meet 5 g/t Au cut-off and minimum mining width constraints used in the 2019 MRE. For a full listing of drill results from current drilling program click here.
Drill results highlight the potential for resource growth to the east in the first mineralized trend (300 m east of the old O’Brien Mine) near the lower boundary of current resources
- Hole OB-20-167 returned 110.97 g/t Au over 2.50 m core length (vertical depth of 600 m) including separate intervals of 16.40 g/t over 1.00 m and 371.00 g/t over 0.70 m, and within a broader mineralized interval (see figure 1)
Figure 1. OB-20-167: Au grade distribution from 630.50 m to 643.00 m
- The drill hole intersected mineralized structures near the eastern and lower boundary of current resources in the first mineralized trend, including visible gold showings at 638.00 m and 639.30 m core length (See photo)
- This intercept was obtained close to historical intercepts of 1920.00 g/t Au over 0.21 m and 101.31 g/t over 0.61 m
- As previously indicated, assays are also pending for OB-20-164 and OB-20-170, which intersected mineralized structures with visible gold above the high-grade intercept in OB-20-167
- OB-20-164 intersected visible gold in the targeted structures, 50 m above and to the west of OB-20-167
- OB-20-170 intersected visible gold in the targeted structures, approximately 40 m to the east of OB-20-167
- Results demonstrate the potential to meaningfully expand resources in the first mineralized trend to the east and at depth.
- Current resources in the area are limited to a vertical depth of 600 m and drilling to date has demonstrated continuity down to a depth of approximately 960 m
- Within an area extending approximately 300 m laterally and 350 m vertically below the resource boundary.
- Mineralization is open for expansion laterally and at depth below 960 m.
Shallow high-grade intercepts suggest an opportunity to expand resources in the gap between the old O’Brien mine and the upper part of the first high-grade trend
- Hole OB-20-159 intersected multiple mineralized intercepts near the upper boundary of defined resources approximately halfway between the first mineralized trend and the old O’Brien Mine including,
- 10.87 g/t Au over 3.15 m (vertical depth of 125 m) including 13.15 g/t over 2.35 m
- 13.61 g/t Au over 2.10 m (vertical depth of 150 m) within a broader interval grading 7.32 g/t over 4.60 m, with visible gold showings at 187.60 m
Figure 2. OB-20-159: Au grade distribution from 148.55 to 151.70 m and 184.00 to 188.60 m
- In addition, Hole OB-20-158 intersected 8.68 g/t over 2.00 m below defined resources in the area and approximately 250 m below the intercepts in OB-20-159.
- These intercepts were obtained above and to the west of previously released intercepts of 92.89 g/t Au over 2.60 m in OB-20-153 (vertical depth of 230 m), and historical high-grade intercepts of 43.37 g/t Au over 1.31 m and 124.57 g/t over 0.82 m, all of which are currently excluded from the 2019 resource estimate
- Assays are pending for hole OB-20-168 which intersected visible gold in two sections, 295 m and 330 m respectively west of currently defined resources and approximately 400 m below and 50 m to the east of OB-20-159.
- OB-20-159 and OB-20-153 along with historical high-grade intercepts highlights opportunities for significant resource growth in gap between the old O’Brien mine and current resources in the first mineralized trend.
Drilling at O’Brien continues to validate the litho-structural model while highlighting resource growth potential laterally and at depth
- Drilling to date has continued to define and expand three high-grade mineralized trends, located approximately 300 m, 600 m and 900 m respectively to the east of the old O’Brien Mine.
- Assays are pending from step-out drill holes completed on all three trends.
- Mineralized trends identified bear similarities with structures previously mined at O’Brien down to a depth of 1,100 m (historical production of 587 koz grading 15.25 g/t)
- Drilling so far has demonstrated continuity of mineralization well below the boundary of defined resources in all three trends, which remain open for expansion laterally and at depth.
- In the first trend, drilling has highlighted continuity of mineralization down to a vertical depth of 950 m, approximately 350 m below the boundary of resources that are limited to a vertical depth of 600 m.
- In the second trend, drilling has highlighted continuity of mineralization down to a vertical depth of 700 m, approximately 300 m below the boundary of resources that are mostly within 400 m from surface.
- In the third trend, drilling has traced mineralization down to 500 m vertical depth from surface. Current resources are mostly confined to between surface and 240 m vertical depth.
- Almost all drilling conducted as part of the ongoing campaign has been within a strike length of approximately 1 km to the east of the old O’Brien mine, representing only a small portion of more than 5 km of prospective strike that Radisson controls along the Cadillac Break.
56,446 m of drilling completed to date with assays pending for approx. 11,500 m
- This release represents approximately 3,779 m of drilling.
- Released results to date (since the commencement of drilling in August 2019) represent only 68% of the total planned 60,000 m program.
- Assays are pending for previously discussed holes OB-20-164, OB-20-168, OB-20-170 and OB-20-174, all which intersected visible gold in the targeted structures.
- With approximately $16 M in treasury, the company is now funded to expand the program to over 130,000 m through 2021
“We are very pleased with results from our ongoing drill program that continue to validate our litho-structural model and highlight the significant resource upside at O’Brien. Our work program so far has been focused within a 1 km along strike to the east of the historic O’Brien Mine. We believe there is significantly more upside to be unlocked as we systematically step out to drill test more than the 5 km of strike length that we control along the prolific Cadillac Break.” commented Mario Bouchard, Chief Executive Officer
Figure 3. O’Brien Gold Project: Resource Block Model @ 5.0 g/t cut-off; Longitudinal section looking North
Figure 4. O’Brien Project: Cross sections highlighting OB-20-167 (left) and OB-20-158/OB-20-159 (right)
All drill cores in this campaign are NQ in size. Assays were completed on sawn half-cores, with the second half kept for future reference. The samples were analyzed using standard fire assay procedures with Atomic Absorption (AA) finish at ALS Laboratory Ltd, in Val-d’Or, Quebec. Samples yielding a grade higher than 5 g/t Au were analyzed a second time by fire assay with gravimetric finish at the same laboratory. Samples containing visible gold were analyzed with metallic sieve procedure. Standard reference materials and blank samples were inserted prior to shipment for quality assurance and quality control (QA/QC) program.
Richard Nieminen, P. Geo, Exploration manager, acts as a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the technical information in this press release.
Radisson Mining Resources Inc.
Radisson is a gold exploration company focused on its 100% owned O’Brien project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Quebec. The Bousquet-Cadillac mining camp has produced over 21,000,000 ounces of gold over the last 100 years. The project hosts the former O’Brien Mine, considered to have been the Abitibi Greenstone Belt’s highest-grade gold producer during its production (1,197,147 metric tons at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957; Kenneth Williamson 3DGeo-Solution, July 2019). For more information on Radisson, visit our website at www.radissonmining.com or contact:
On behalf of the board of directors
CEO and Director
For more information on Radisson, visit our website at www.radissonmining.com or contact:
Director, Corporate development
All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the intended use of proceeds of the Offering, the development of the O’Brien project and generally, the above “About Radisson Mining Resources Inc.” paragraph which essentially describes the Corporation’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements and future events, could differ materially from those anticipated in such statements. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward looking information can be found in Radisson’s disclosure documents on the SEDAR website at www.sedar.com.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s endeavours to develop the O’Brien project and, more generally, its expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.