ROUYN-NORANDA, Quebec, Oct. 18, 2021 (GLOBE NEWSWIRE) — Radisson Mining Resources Inc. (TSXV: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 resource expansion drilling along trend #1,
- 34.71 g/t over 3.90 m including 127.00 g/t over 1.00 m (OB-21-216W1)
- 7.55 g/t over 10.50 m including 10.46 g/t over 6.00 m (OB-21-240)
- 17.56 g/t over 2.00 m including 34.80 g/t over 1.00 m; and 8.22 g/t over 2.00 m including 14.70 g/t over 1.10 m (OB-21-226)
- 13.23 g/t over 2.00 m including 32.90 g/t over 0.80 m (OB-21-215)
- 9.25 g/t over 2.00 m including 11.35 g/t over 1.00 m; and 10.02 g/t over 2.30 m including 14.70 g/t over 1.30 m (OB-21-217)
- New and previously released high-grade intercepts confirm and support resource expansion potential down to 950 m vertical depth along trend #1
- 130,000 m drill program underway at O’Brien
- 99,100 completed thus far with results pending for 23,840 m
- Cash balance of approx. $8.5M
“Drill results continue to validate our lithostructural model while demonstrating significant resource growth potential at the high-grade O’Brien project. Drilling thus far has suggested the potential to at least double the depth extent of resources along three high-grade trends within an approx. 1 km strike to the east of the old O’Brien Mine.
Several high-grade gold intercepts from recent drilling along trend #1, including 34.71 g/t over 3.90 m (OB-21-216W1) and 17.56 g/t over 2.00 m (OB-21-226) intersected mineralized structures outside defined resource blocks, confirming the potential for resource growth along trend #1, laterally and at depth. In addition, drilling intersected 7.55 g/t over 10.50 m (OB-21-240), confirming and potentially expanding some of the deepest inferred resources along this trend.
The majority of our work program thus 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 from a prospective land package that includes more than 5 km of strike length along the prolific Cadillac Break. Results so far, all support our theory of discovering and expanding additional high-grade mineralized trends as we step out systematically further along strike and deeper beyond the limits of drilling to date.” commented Rahul Paul, President and Chief Executive Officer.
Highlight drill results
|Hole||Zone||From (m)||To (m)||Core Length (m)||Au (g/t) – Uncut||Comments|
|AND||723.00||725.00||2.00||5.28||Southern Mafic Volcanic|
|AND||822.25||825.25||3.00||5.26||Northern Mafic Volcanic|
|AND||826.25||828.25||2.00||5.54||Northern Mafic Volcanic|
|751.10||753.10||2.00||13.23||Northern Mafic Volcanic*VG|
|862.10||866.00||3.90||34.71||Northern Mafic Volcanic*VG|
- VG denotes the presence of visible gold
- True widths estimated at 70%to 80% of core length. Unless otherwise relevant, primary intercepts reflect minimum mining width (1.50 m true width) at a 5.00 g/t cut-off grade consistent with assumptions used in the 2019 MRE.
- Assay grades shown uncapped. A capping factor of 60 g/t Au was used in the 2019 resource estimate
- 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 at depth along high-grade trend #1 (300 m east of the old O’Brien Mine)
Hole OB-21-216W1 returned 34.71 g/t Au over 3.90 m core length (see figure 1 for Au grade distribution) at a vertical depth of 720 m approximately 60 m below current resources boundary. In addition, OB-21-240 returned 7.55 g/t Au over 10.50 m confirming and possibly expanding some of the deepest inferred resources along trend #1. In addition, OB-20-171, OB-21-217 and OB-21-226 returned multiple high-grade intercepts outside current resources both along and outside of targeted zones.
These intercepts along with other previously released intercepts including 66.71 g/t Au over 4.70 m (OB-19-92W2b), 37.76 g/t Au over 2.00 m (OB-19-98W2), 23.57 g/t Au over 2.60 m (OB-19-107), 45.33 g/t Au over 2.20 m (OB-20-148W1), 110.97 g/t Au over 2.50 m (OB-20-167), 24.22 g/t Au over 3.00 m (OB-20-174w1b) and 19.63 g/t Au over 3.40 m (OB-20-181) demonstrate continuity of high grade mineralization down to a vertical depth of 950 m and up to 350 m below currently defined resources on trend #1.
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. 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.
99,100 m of drilling completed to date with assays pending for approx. 23,840 m
This release represents approximately 7,200 m of drilling in 9 drill holes. Released results to date (since the commencement of drilling in August 2019) represent approximately 58% of the 130,000 m planned thus far. As of October 15, 2021, the company remains well funded with approximately $8.5 m in cash.
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, 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 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.
Four photos accompanying this announcement are available at: