Radisson intersects 38.34 g/t gold over 2.00 m from initial exploration program to the west of the old O’Brien mine
ROUYN-NORANDA, Québec, Jan. 27, 2022 (GLOBE NEWSWIRE) -- 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 130,000 m 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.
- Significant intercepts from initial exploration program west of the old O’Brien mine,
- 38.34 g/t over 2.00 m including 76.60 g/t over 1.00 m,and 5.84 g/t over 2.00 m including 11.20 g/t over 1.00 m (OB-21-250)
- 7.24 g/t over 3.20 m including 14.20 g/t over 1.10 m(OB-21-186)
- Results thus far highlight the potential to discover additional high-grade enrichment vectors along the 2.5 km strike west of the old O’Brien mine an area which remains largely untested.
- 130,000 m drill program underway at O’Brien
- 119,000 mcompleted thus far with results pending for 28,300 m
- Cash balance of approx. $10.5M
“We are very excited to report results from our exploration program to the west of the old O’Brien Mine, an area with very limited drilling located 900 m from current resources boundary. We view initial results as very significant in that they demonstrate high grade potential in the area from mineralized zones bearing similarities to those observed in the resource area and the old O’Brien Mine. O’Brien West remains open in all direction, with results indicating strong depth continuity in lithological units identical to those observed along strike to the west, reaffirming the upside potential from approximately 2.5 km of largely untested prospective strike west of the O’Brien Mine along the prolific Larder-Lake-Cadillac break.
In addition to validating geological information from historical drill holes, initial results showcase potential for additional high-grade discoveries in this area, most notably with hole OB-21-250 intersecting 38.34 g/t over 2.00 m within only 215 m of surface and OB-21-186 intersecting 7.24 g/t over 3.20 m, approximately 85 m further west. Drilling also highlighted the potential for good depth continuity down to 780 m with deeper holes intersecting mineralized structures.
With initial drilling significantly exceeding our expectations, our team will be working on generating new high-priority exploration targets as we look forward to systematically stepping out with the aim of extending the footprint of mineralization along the 2.5 km of prospective strike at O’Brien West. In addition, results are pending from 28,300 m of drilling in 62 holes to the east of the O’Brien Mine, of which 32 holes have visible gold occurrences. We are also currently drilling high priority deep targets below previously encountered mineralization in trend #1 and #2. We expect significant news flow in the weeks and months ahead as these results become available.”commented Rahul Paul, President and Chief Executive Officer.
Exploration drill results – O’Brien West
|Hole||Zone||From (m)||To (m)||Core Length (m)||Au (g/t) - Uncut||Comments|
|307.20||309.30||2.10||4.67||Contact Grauwacke – Cadillac Fault|
|394.20||396.45||2.25||3.59||Felsic Intrusive *VG|
- VG denotes the presence of visible gold.
- True widths estimated at 70% to 80% of core length.
- Assay grades shown uncapped. A capping factor of 60 g/t Au was used in the 2019 resource estimate.
- For a full listing of drill results from current drilling program click here.
Exploration drilling on O’Brien west
Results from an initial 5,700 m exploration campaign west of the old O’Brien mine demonstrate the high-grade potential along the largely untested 2.5 km strike length to our western claim boundary, an area that does not currently contribute to resources. This campaign was successful at validating historical drill data, enhancing our geological interpretation of the sector and confirming the expansion potential along strike and at depth. Results obtained to date suggest the potential to discover new high-grade enrichment vectors and in turn meaningfully drive resource expansion in the future.
These encouraging results also appear to confirm the high-grade potential in the area, most notably with drill hole OB-21-250 intersecting 38.34 g/t over 2.00 m. While some drill holes returned lower gold assay values, initial drilling has traced mineralized zones down to 780 m vertical depth. This includes OB-21-254 which intersected mineralized structures with visible gold occurrences below the above intercept and hole OB-21-190 which suggests that mineralized structures likely extend to greater depths.
Lithological units observed in the drill holes appear identical to those observed in the New Alger area. In addition, all holes intersected significant mineralized zones bearing similarities to those observed on the resource area and the old O’Brien mine, including quartz veins within a halo altered in biotite and mineralized in arsenopyrite.
The company is currently integrating the data into the litho-structural model to generate new high-priority exploration targets and to better define the geometry of mineralized zones and gold-bearing structures.
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 four high-grade mineralized trends, located approximately 300 m, 600 m, 900 m and 1,200 m respectively to the east of the old O’Brien Mine. 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 trend #1, drilling has highlighted continuity of mineralization down to a vertical depth of 950 m, while current resources are mostly limited to a vertical depth of approximately 600 m. In trend #2, drilling has highlighted continuity of mineralization down to a vertical depth of over 800 m, while current resources are mostly within 400 m from surface. In trend #3, drilling has traced mineralization down to 500 m vertical depth from surface. Current resources are mostly confined to within a vertical depth of 240 m.
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 5.2 km of prospective strike that Radisson controls along the Cadillac Break. Given current geological understanding, the ongoing validation of the litho structural model, the company estimates there is strong exploration for additional high-grade gold trends along the whole 5.2 km prospective land package on the prolific Larder-Lake Cadillac Break.
119,000 m of drilling completed to date with assays pending for approx. 28,300 m
This release represents approximately 5,700 m of drilling in 12 drill holes. Released results to date (since the commencement of drilling in August 2019) represent approximately 67% of the 130,000 m planned thus far. As of January 15th, 2022, the company remains well funded with approximately $10.5 m in cash.
Table 1. Breakdown of drilling planned, completed and pending results
|Zone||Allocated drilling (m)||Drilled - Results published (m)||Drilled - Results pending (m)||To be drilled (m)|
|Trend 4 and Other||11,000||11,000||0||0|
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. Mineralized zones containing visible gold were analyzed with metallic sieve procedure. Standard reference materials, blank samples and duplicates were inserted prior to shipment for quality assurance and quality control (QA/QC) program.
Nicolas Guivarch, M. Sc., P.Geo., Manager, Exploration and Technical Services is the qualified person pursuant to the requirements of NI 43-101 and has 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 Quebec’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
President and CEO
For more information on Radisson, visit our website at www.radissonmining.com or contact:
Chief Financial Officer
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 atwww.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.
Figures accompanying this announcement are available at:
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