ROUYN-NORANDA, Quebec, June 14, 2022 (GLOBE NEWSWIRE) —
Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF):
(“Radisson” or the “Company”) is pleased to announce that it has commenced a field program focused on the 54 km
2
area comprising claims located to the south of the prolific Larder-Lake Cadillac Break. The program was designed following a compilation and interpretation of available historical data, with the objective of evaluating opportunities demonstrating strong discovery potential in the southern sector of the O’Brien Gold Project.
“Since acquiring and integrating the New Alger property with the O’Brien project in 2020, our team has been focused on the execution of the 130,000 m drill program at the O’Brien gold project. The primary objective of the drill program was to expand current resources and to test new targets in well understood sectors in the vicinity of the old O’Brien mine. While impressive results received thus far suggest a very successful drill program, it is worth noting that the program was focused on an area covering less than 10% of our extensive 5,800 ha land package. The significant land package to the south of the Cadillac Break was a key driver of our interest in the New Alger property, and a review of available data confirmed our view that the area holds tremendous potential for transformational discoveries. Despite its proximity with the Larder-Lake-Cadillac Break, limited work was performed in southern sector of the O’Brien project. Following a compilation of historical data, our team was able to establish the presence of geological elements demonstrating strong discovery potential. While we await results from approximately 25,000 m of drilling, our team is excited to commence an important field program that could unlock the underlying potential in the southern portion of the O’Brien gold project.”
Commented Rahul Paul, President and Chief Executive Officer.
Summary
The Bousquet-Cadillac mining camp has produced over 21,000,000 ounces of gold over the last 100 years. In August 2020, the Company acquired the New Alger property to integrate two properties comprising more than 5.2 km of prospective land along the Larder-Lake-Cadillac Break (“CLLFZ”). The project hosts three historic mines including the former O’Brien Mine, considered to have been 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).
The New Alger property also covers 54 km
2
of prospective land located south of the Larder-Lake-Cadillac Break in the Pontiac sediments Group. Along the CLLFZ these sediments are known for hosting gold deposits, notably in the Malartic mining camp where some deposits are spatially associated with syn-tectonic mafic and felsic intrusions proximal to the CLLFZ.
Compilation, interpretation, and ongoing work
Following geological and geophysical data compilation made available by previous work performed therein and on
SIGEOM
(geophysical and geochemical survey, grab and channel sampling), Radisson was able to identify several favorable sectors with the potential to host gold mineralization, with these sectors expected to be prioritized during the first few weeks of the program. These sectors were established based on the understanding of gold distribution found in gold deposits within the Cadillac mining camp, particularly the Thompson Cadillac and O’Brien mines. The below figure presents a summary of potential geological traps and favorable targets interpreted to date in the southern portion of the O’Brien project:
Figure 1 Geological and structural data compilation
1. Gold mineralization deposited in a main S1 schistosity or parallel shear zone possibly cut by a 2
nd
order fault
2. Gold mineralization deposited in S2 schistosity
3. Gold mineralization associated to 2
nd
order faults
4. Mineralization associated to a Malartic type intrusive and presence of a fault probably containing mineralization
5. Intersection of 2
nd
and 3
rd
order faults with S2 schistosity
6. Disseminated sulfides associated with an intrusive – Monzonite intrusive.
Figure 2 Geophysical data compilation – Southern portion of the O’Brien project
Main objectives of the field program on New Alger
During the 2022 summer, the team will be traversing the whole property every 400 metres representing approximately 200 lines km with the objective of locating, mapping and analyzing prospective showings observed. Lines are planned on 22 sectors delimited by creeks and watercourse. Historical data compilation combined with digital topographic data, satellite images, surface geology maps and field reconnaissance recently performed have confirmed that multiple showings exist on the property, notably because of limited overburden in most sectors (0 to 5 metres), forestry work previously undertaken and uncovering outcrops in the area and the development of access roads.
The Company believes that current infrastructure, including the 117 provincial highway, other existing roads/access trails, O’Brien project infrastructure and proximity of sites to the municipality of Cadillac will enable the team to undertake an optimal and efficient program.
Figure 3. Prospecting plan and supporting infrastructure
The primary objective of the recently commenced field program is to establish high priority exploration targets with the potential of discovering a gold deposit demonstrating similar characteristics to the old O’Brien and other mines in the Bousquet-Cadillac mining camp. Favorable sectors highlighted above appear to demonstrate the potential for this type of mineralization. It is known that gold mineralisation in the Bousquet-Cadillac mining camp is principally subdivided in two types:
- Quartz veins and veinlets carrying free gold
- Disseminated sulphides in the altered footwall rocks
These veins are generally parallel to the principal schistosity S1 or at a slight angle with it (10 to 15 degrees). Arsenopyrite and pyrite are the predominant sulphides in many deposits along the CLLFZ. In addition, notably at the O’Brien project, gold zones are localized at the contact between competent units. A tight relation between mineralized zones and asymmetric “Z shape” folding is also denoted at many deposits. Finally, many gold enrichments have been recognized locally along late and brittle NW and/or NE trending faults.
As a result, the team will principally be prospecting for showings presenting the following characteristics with the objective of establishing high-priority exploration targets:
-
2
nd
and 3
rd
order faults (late and trending NW and/or NE). - Asymmetric “Z” or “S” shape folding
- Porphyritic felsic dykes
- Syenite intrusion and Felsic to Intermediate intrusions
- Disseminated sulphides (As-Py-Po)
- Shear zones
Qualified Person
Eddy Canova, BSc., P.Geo. OGQ, from GeoConsul Canova Inc., is the qualified person pursuant to the requirements of NI 43-101. Eddy Canova 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
Rahul Paul
President and CEO
For more information on Radisson, visit our website at
www.radissonmining.com
or contact:
Hubert Parent-Bouchard
Chief Financial Officer
819-763-9969
[email protected]
Forward-Looking Statements
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.
