ROUYN-NORANDA, Jan. 20, 2021 - 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 exploration drill program at its 100% owned O’Brien gold project located along the Larder-Lake-Cadillac Break (see location map 1 and location map 2), halfway between Rouyn-Noranda and Val-d’Or in Quebec, Canada.
Drilling has continued to validate the 2019 litho-structural model (announced in February 2019) while demonstrating the potential for resource growth at depth and along strike. Drilling so far has been focused on an approximately 1 km strike length to the east of the old O’Brien Mine, historically considered the highest-grade gold mine in Quebec (production of 587,121 oz Au grading 15.25 g/t from 1926 – 1957). With the acquisition of the New Alger project (August 2020), Radisson now controls approximately 5.2 km of highly prospective strike along the Cadillac Break, including 2.5 km to the east and west of the main shaft at the old O’Brien Mine.
- Resource expansion potential to the west of the first mineralized trend,
- OB-20-168: 14.90 g/t over 8.00 m (incl. 22.24 g/t over 2.30 m and 33.94 g/t over 2.00 m) approximately 60 m west of the current resource boundary.
- Resource expansion potential to the east of the first mineralized trend (multiple intercepts approximately 40 m east of the current resource boundary)
- OB-20-164: 41.04 g/t over 2.30 m (incl. 170.50 g/t over 0.55 m) and 10.46 over 2.05 (incl. 36.40 over 0.50 m)
- OB-20-170: Multiple intercepts including 5.27 g/t over 7.40 m and 5.73 g/t over 9.20 m (incl. 13.45 g/t over 1.90 m and 12.15 g/t over 2.00 m)
- Ongoing drill program (commenced Aug 2019) expanded by 70,000 m for a total of 130,000 m since completion of the last NI-43-101 resource estimate (July 2019)
- 57,154 m completed to the end of 2020 with results pending for 10,790 m
- Cash balance of approx. $15 M following the November 2020 equity financing
- Corporate updates
- Kenneth Williamson appointed Senior Advisor, Geology
- Nicolas Guivarch promoted to Manager, Exploration
- Richard Nieminen has stepped down as Director, Exploration
Notable drill results
|Hole ||Zone ||From (m) ||To (m) ||Core |
|Au (g/t) - |
|OB-20-160 || || || || || || |
| || ||32.65 ||34.45 ||1.80 ||7.45 ||Pontiac sediments |
| || Including ||32.65 ||33.45 ||0.80 ||16.60 || |
|OB-20-163 || || || || || || |
| || ||67.20 ||69.10 ||1.90 ||5.61 || Pontiac sediments |
| || Including ||68.10 ||69.10 ||1.00 ||10.40 || |
|OB-20-164 || || || || || || |
| || ||196.25 ||198.55 ||2.30 ||41.04 || Pontiac sediments*VG |
| || Including ||198.00 ||198.55 ||0.55 ||170.50 || |
| ||AND ||493.85 ||495.90 ||2.05 ||10.46 || Pich? Grauwacke*VG |
| || Including ||493.85 ||494.35 ||0.50 ||36.40 || |
| ||AND ||503.25 ||505.00 ||1.75 ||5.84 || Pich? Basalt*VG |
| || Including ||503.25 ||503.75 ||0.50 ||19.65 || |
|OB-20-168 || || || || || || |
| || ||591.00 ||599.00 ||8.00 ||14.90 || Contact Porphyry – Basalt*VG |
| || Including ||591.00 ||593.30 ||2.30 ||22.24 || |
| || Which Includes ||591.00 ||592.30 ||1.30 ||39.00 || |
| || And ||597.00 ||599.00 ||2.00 ||33.94 || |
| || Which Includes ||598.00 ||599.00 ||1.00 ||67.50 || |
|OB-20-170 || || || || || || |
| || ||213.50 ||215.50 ||2.00 ||8.43 || Pontiac sediments |
| || Including ||214.50 ||215.50 ||1.00 ||16.80 || |
| ||AND ||562.60 ||570.00 ||7.40 ||5.27 || Pich? Conglomerate |
| || Including ||562.60 ||567.40 ||4.80 ||6.82 || |
| || Which Includes ||565.40 ||567.40 ||2.00 ||9.83 || |
| ||AND ||576.00 ||578.00 ||2.00 ||4.02 || Pich? Conglomerate*VG |
| || Including ||577.00 ||578.00 ||1.00 ||6.15 || |
| ||AND ||593.10 ||602.30 ||9.20 ||5.73 || North Porphyry*VG |
| || Including ||593.10 ||595.00 ||1.90 ||13.45 || |
| || Which Includes ||594.00 ||595.00 ||1.00 ||25.30 || |
| || And ||600.30 ||602.30 ||2.00 ||12.15 || |
| || Which Includes ||601.30 ||602.30 ||1.00 ||23.20 || |
|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. Unless otherwise appropriate (e.g., proximity to other higher-grade intercepts), 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.
Resource expansion potential to the East of the first mineralized trend (300 m east of the old O’Brien Mine)
- Hole OB-20-164 returned multiple mineralized intercepts approximately 38 m to the east of currently modeled resources in the first trend including,
- 41.04 g/t Au over 2.30 m core length (vertical depth of 185 m) including 170.50 g/t over 0.55 m, including visible gold showings and
- additional high-grade intercepts 280 m vertically below the above intercept, including (see figure 1 for Au grade distribution),
- 10.46 g/t over 2.05 m core length including 36.40 g/t over 0.50 m, and
- 5.84 g/t over 1.75 m core length including 19.65 g/t over 0.50 m
- these intercepts were obtained,
- approximately 150 m vertically above and 50 m to the west of the previously released intercept of 110.97 g/t over 2.50 m from hole OB-20-167
- approximately 150 m vertically above and 55 m to the west of a historical intercept of 1920 g/t over 0.21 m (U-1328)
Figure 3. OB-20-164: Au grade distribution from 493.85 m to 505.00 m
- Hole OB-20-170 returned multiple mineralized intercepts approximately 25 m to the east of currently modeled resources in the first trend (and approximately 110 m below and 75 m further east of the high-grade intercepts in OB-20-164) including,
- 8.43 g/t Au over 2.00 m core length (vertical depth of 205 m) including 16.80 g/t over 1.00 m, and
- additional high-grade intercepts 335 m vertically below the above intercept, including,
- 5.27 g/t over 7.40 m core length including 9.83 g/t over 2.00 m,
- 4.02 g/t over 2.00 m core length including 6.15 g/t over 1.00 m, and
- 5.73 g/t over 9.20 m core length (vertical depth of 570 m) including,
- 13.45 g/t over 1.90 m core length including 25.30 g/t over 1.00 m, and
- 12.15 g/t over 2.00 m core length including 23.20 g/t over 1.00 m
- OB-20-164, OB-20-167 and OB-20-170 highlight the potential for resource expansion to the east of the current resource boundary, between 465 m and 615 m vertical depth.
Figure 4. OB-20-170: Au grade distribution from 554.00 m to 579.80 m (top) and 593.10 m to 602.30 m (bottom)
Resource expansion to the West of the first mineralized trend (300 m east of the old O’Brien Mine) near the lower boundary of current resources
- Hole OB-20-168 returned 14.90 g/t over 8.00 m (vertical depth of 475 m; see figure 3 for Au grade distribution) approximately 60 m to the West of currently modeled resources in the first trend. This broader mineralized zone includes,
- 22.24 g/t Au over 2.30 m core length, including 39.00 g/t over 1.30 m, including visible gold showings, and
- 33.94 g/t over 2.00 m core length, including 67.50 g/t over 1.00 m
- The high-grade intercept was obtained 330 m below previously reported intercept of 92.89 g/t over 2.60 m (from OB-20-153), and approximately 55 m and 145 m, respectively above historical intercepts of 21.46 g/t over 1.70 m (OB-17-23) and 124.57 g/t over 0.82 m (ST-1029).
- Both intercepts were obtained within multiple mineralized structures appearing to align with the dip of the first mineralized trend, highlighted by historical drilling and step-out drilling completed below current resources.
- The high-grade intercepts are both located outside and to the east of the current resource boundary.
- OB-20-168, OB-20-159, OB-20-158 and OB-20-153 and other historical intercepts highlight the potential for resource expansion by up to 60 m to the west of the current resource boundary, starting close to surface down to and 475 m vertical depth.
Figure 5. OB-20-168: Au grade distribution from 583.00 m to 606.00 m
- In addition to hole OB-20-168, hole OB-20-160 and OB-20-163 returned high-grade intercepts of respectively 7.45 g/t Au over 1.80 m and 5.61 g/t Au over 1.90 m in the Pontiac sediments suggesting the presence and continuity of ENE mineralized zones within this geological unit.
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 770 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.
57,743 m of drilling completed to date with assays pending for approx. 10,790 m
- This release represents approximately 4,979 m of drilling.
- With approximately $15M in treasury, the company is now funded to expand the program to over 130,000 m through 2021
- Released results to date (since the commencement of drilling in August 2019) represent only 36% of approximately 130,000 m envisioned to be complete by the end of 2021.
- Kenneth Williamson appointed Senior Advisor, Geology
- Nicolas Guivarch promoted to Manager, Exploration
- Richard Nieminen has stepped down as Director, Exploration
Radisson is pleased to announce that it has entered to an arrangement with 3DGeo Solution Inc., whereby Kenneth Williamson (M.Sc., P.Geo) has been appointed Senior Advisor, Geology. Mr. Williamson, currently President of 3DGeo Solution Inc., is a professional geologist with close to 20 years of experience in the gold mining industry. He graduated with a master’s degree in Structural Geology from Laval University in 2002. His prior experience includes key technical roles with corporates such as Goldcorp, Rubicon Minerals and Premier Gold in addition to consulting roles with InnovExplo and MRB & Associates. Mr. Williamson has been involved with the Company and the O’Brien Project since 2018. He was responsible for the development of the current litho-structural model and the ensuing NI 43-101 mineral resource estimate in 2019. In collaboration with the company management and the technical team, Mr. Williamson will assist with the planning and execution of the exploration programs well as maintaining his key role in the geological interpretation and 3D modeling efforts deployed by the company.
In addition, Nicolas Guivarch (M.Sc., P.Geo) has been promoted to Exploration Manager. Mr. Guivarch, who joined Radisson in August 2019, is a professional geologist with close to 10 years of experience in mineral exploration. His prior experience includes roles with AREVA, InnovExplo, Metanor Resources and MRB & Associates. He graduated with a master’s degree in Exploration and Mineral Resource Management from the University of Orleans in 2009. Mr. Guivarch has been an integral part of the exploration team since August 2019 and has since been involved with all aspects of the exploration program at O’Brien. His management role within the Radisson team will ensure the smooth execution of the exploration program.
Richard Nieminen has stepped down from the position of Director of Exploration, effective December 31, 2020. The Company would like to thank him for his valuable contribution over the last two years and wishes him the best of success in his future endeavours.
In addition, in order to fulfill new professional duties which would place him in conflict with current board position at Radisson, Tony Brisson has stepped down from the position of director on the company’s Board of directors, effective January 15, 2021. The Company would like to thank him for his valuable contribution and wishes him the best of success in his future endeavours.
Figure 6. O’Brien Gold Project: Resource Block Model @ 5.0 g/t cut-off; Longitudinal section looking North
Figure 7. O’Brien Gold Project: Cross section highlighting OB-20-164, OB-20-168 and OB-20-170
Figure 8. Visible gold showings: OB-20-164, OB-20-168 and OB-20-170
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.
Kenneth Williamson, M.Sc., P.Geo., Senior Advisor, Geology and Nicolas Guivarch, M. Sc., P.Geo., Exploration Manager are the qualified persons pursuant to the requirements of NI 43-101, and have reviewed and approved the technical disclosure 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.