ROUYN-NORANDA, Quebec, Sept. 02, 2020 (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 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.
“Drill results from the O’Brien Project continue to validate our litho-structural model and demonstrate the potential for resource growth at depth and laterally along strike. Prior drilling demonstrated the potential for two high grade mineralized trends, located approximately 300 m and 600 m respectively to the east of and bearing similarities to structures historically mined at the O’Brien Mine. Our efforts to step-out further to the east have been rewarded with multiple high-grade intercepts including 45.86 g/t over 2.10 m, 21.29 g/t over 2.00 m and 17.90 g/t over 2.15 m that appear to highlight a third high-grade mineralised trend in a relatively untested area approximately 900 m to the east of the old mine. Drilling so far has traced mineralization down to 500 m vertical depth, with the zone remaining open at depth and laterally.
Our exploration efforts to date have been limited to a strike length of approximately 1 km, a relatively small part of the 6 km prospective strike length along the prolific Cadillac Break. While we are impressed by results so far, we are even more excited at the prospect of leveraging our litho-structural model to target a repeat of our success over a much larger area that extends approximately 3.0 km to the east and now, post the New Alger acquisition, 3 km to the west of the old O’Brien Mine, historically the highest grade gold mine in Quebec.
Results released so far represent approximately half of our planned 60,000 m program. We are well funded to expand our program to up to 75,000 m, permitting additional drilling into 2021. With three rigs in operation, we eagerly look forward to additional results as we systematically step out to grow resources laterally and at depth,” commented Mario Bouchard, Chief Executive Officer.
Press release Highlights
Potential for a third high-grade mineralized trend, approximately 900 m east of the old O’Brien mine, with multiple high-grade intercepts outside the boundary of defined resources.
- Hole OB-20-149 returned 45.86 g/t over 2.10 m (500 m vertical depth) including 92.90 g/t over 1.00 m with visible gold showings (see photo 1 and photo 2) obtained 260 m below defined resources.
- Hole OB-20-146 returned 17.90 g/t over 2.15 m (105 m vertical depth) and 21.29 g/t over 2.00 m (260 m vertical depth).
- Hole OB-20-144 returned 5.79 g/t over 2.00 m (135 m vertical depth)
- Highlights opportunity for significant resource growth in a largely undrilled area
- Mineralization has been traced down to 500 m vertical depth, with the zone open for expansion laterally and at depth.
Opportunity for additional resource growth within a second mineralized trend located approximately 600 m east of the old O’Brien Mine
- Hole OB-20-142 returned multiple high-grade intercepts east of defined resources in the area including 5.58 g/t over 2.00 m, 11.02 g/t over 2.00 m and 5.81 g/t over 2.00 m
- Current resources in the area are largely above 360 m vertical depth and mineralization remains open for expansion laterally and at depth.
Drilling continues to expand the first mineralized trend (36E Zone), approximately 300 m to the east of the old O’Brien Mine and below the resource boundary
- Hole OB-20-145 returned 12.48 g/t Au over 2.00 m core length (vertical depth of 725 m)
- The majority of defined resources in the area are within 600 m vertical depth.
- Drilling to date demonstrates continuity down to approximately 950 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 950 m.
With the close of the New Alger acquisition, Radisson’s claims cover a prospective strike length of 5.9 km along the prolific Cadillac Break
- Prospective strike now includes approximately 3 km east and 3 km west of the old O’Brien Mine, historically the highest-grade gold mine in Quebec (production of 587 k oz at 15.25 g/t average grade from 1926 – 1957).
- Drilling thus far has mostly been limited to 1 km to the east of the old mine
- The company plans to systematically step out further to the east as well as initiate drilling on high potential targets to the west of the O’Brien Mine.
45,771 m of drilling completed to date with assays pending for approximately 12,771 m
- Released results represent 55% of a planned 60,000 m program.
- The company is funded to expand the program to over 75,000 m.
Figure 1 Cadillac Mining Camp Geological Map: Combined O’Brien & New Alger Properties
Figure 2 O’Brien project longitudinal section looking North
Notable drill results
| Hole | Zone | From (m) | To (m) | Core Length (m) |
Au (g/t) – Uncut |
Comments |
| OB-20-138 | Upper 36E | |||||
| 380.00 | 382.00 | 2.00 | 6.29 | Piché Conglomerate | ||
| Including | 381.00 | 382.00 | 1.00 | 9.53 | ||
| OB-20-142 | Upper 36E | |||||
| 42.00 | 44.00 | 2.00 | 5.58 | Pontiac Greywacke | ||
| Including | 42.00 | 43.00 | 1.00 | 10.65 | ||
| 250.60 | 252.60 | 2.00 | 11.02 | Piché Basalt | ||
| 282.30 | 284.30 | 2.00 | 5.81 | Piché Porphyry | ||
| Including | 283.30 | 284.30 | 1.00 | 9.56 | ||
| OB-20-144 | Kewagama | |||||
| 167.00 | 169.00 | 2.00 | 5.79 | Piché Basalt | ||
| Including | 168.00 | 169.00 | 1.00 | 8.93 | ||
| OB-20-145 | Lower 36E | |||||
| 833.00 | 835.00 | 2.00 | 12.48 | Piché Porphyry | ||
| OB-20-146 | Kewagama | |||||
| 72.00 | 74.15 | 2.15 | 17.90 | Pontiac Greywacke | ||
| Including | 72.80 | 74.15 | 1.35 | 28.50 | ||
| 294.00 | 296.00 | 2.00 | 21.29 | Piché Greywacke | ||
| Including | 295.00 | 296.00 | 1.00 | 42.40 | *VG | |
| OB-20-149 | Kewagama | |||||
| 549.00 | 551.10 | 2.10 | 45.86 | Piché Basalt | ||
| Including | 549.00 | 550.00 | 1.00 | 92.90 | *VG |
- VG denotes the presence of visible gold
- 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.
- 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.
Potential third high-grade mineralized trend (Kewagama area), 900 m east of the O’Brien Mine
- Hole OB-20-149 returned 45.86 g/t Au over 2.10 m core length (vertical depth of 500 m) with visible gold showing in a smoky quartz vein (See figure 4)
° The intercept was obtained 260 m below defined resources in a sparsely drilled area 900 m east of the old O’Brien Mine
- Hole OB-20-146 returned multiple high-grade intercepts including:
° 17.90 g/t Au over 2.15 m core length (vertical depth of 105 m) including 28.50 g/t over 1.35 m
° 21.29 g/t Au over 2.00 m core length (vertical depth of 260 m) including 42.40 g/t over 1.00 m
- Hole OB-20-144 returned 5.79 g/t Au over 2.00 m core length (vertical depth of 135 m)
° The intercept was obtained 25 m above defined resources.
- Resources in the area are mostly above 250 m vertical depth. Mineralization is open for expansion laterally and at depth.
Figure 3. Third potential high-grade mineralized trend, 900 m east of the old O’Brien Mine
Figure 4. Visible gold showing in OB-20-149
Results from hole OB-20-144, OB-20-146 and OB-20-149, in conjunction with historical results, appears to be highlighting a third high-grade steeply dipping mineralized trend located approximately 900 m to the east of the old O’Brien Mine. Further drilling is planned to confirm continuity down to 500 m vertical depth (260 m below the limit of resources in the area) where hole OB-20-149 intersected 45.86 g/t over 2.10 m. Mineralization remains open for expansion laterally and at depth below 500 m.
Drilling highlights opportunity for resource growth within the second mineralized trend, 600 m east of the old O’Brien Mine
- Hole OB-20-142 returned multiple high-grade intercepts outside and to the east of modeled resources in the area, previously highlighted by hole OB-20-124 (See 8.35 g/t Au over 6.00 m) and OB-19-106, these results include:
° 5.58 g/t Au over 2.00 m from 42.00 m core length
° 11.02 g/t Au over 2.00 m from 250.60 m core length
° 5.81 g/t Au over 2.00 m from 282.30 m core length
Results from hole OB-20-142, OB-20-124 and OB-19-106 in conjunction with other recent results, appears to be defining a second high-grade steeply dipping mineralized trend starting approximately 300 m east of the high-grade trend defined down to a vertical depth of 950 m on 36E and F zones. While resources in this area are largely limited to the upper 400 m, results from the ongoing campaign indicate a trend that links above high-grade resources up to 175 m further down plunge. There are indications that the trend could extend deeper to 1,100 m where a historical intercept returned 17.46 g/t Au over 1.00 m. Overall results to date suggest strong exploration potential below 400 m for this sector with assays pending for additional holes in this area.
Drilling continues to expand the first mineralized trend (36E Zone) at depth below the resource boundary
- Hole OB-20-145 returned 12.48 g/t Au over 2.00 m core length (vertical depth of 725 m)
° The intercept was obtained below the eastern boundary of resources at the Lower 36E Zone.
° 120 m above a previously released intercept of 66.71 g/t Au over 4.70 m (See OB-19-92W2b)
° 60 m east of a previously released intercept of 37.76 g/t Au over 2.00 m (See OB-19-98W2)
Current resources at the 36E zone are limited to 600 m vertical depth. Additional drilling is planned to establish the resource potential in the Lower 36E area, drilling thus far suggests strong continuity of mineralization down to 950 m, within an area extending approximately 300 m laterally and 350 m vertically below the resource boundary. This area remains a key focus for the current drilling program. All holes drilled on Lower 36E as part of this campaign have intersected mineralization within the targeted geological units, with most holes returning high-grade intercepts, often accompanied by visible gold showings. While the majority of drilling so far has been focused on testing the eastern extent of mineralization at depth, it remains open for expansion laterally (to the east and west) and at depth below 950 m. Drilling is currently underway to test the western extent of mineralization, with assays pending for hole OB-20-148W1 having intersected multiple grains of disseminated visible gold within a smoky quartz vein at the western boundary of the Lower 36E area.
Exploration program
To this date 45,771 m of drilling have been completed at the O’Brien gold project with assays pending for approximately 12,771 m. Results released so far represent 55% of the ongoing 60,000 m drill campaign started in August 2019. The company is funded to expand the drill program above 75,000 m.
QA/QC
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.
Qualified Person
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
Mario Bouchard
CEO and Director
Certain information contained in the press release are subject to receipt of all regulatory approvals. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
For more information on Radisson, visit our website at www.radissonmining.com or contact: Hubert Parent-Bouchard Director, Corporate development 819-763-9969 [email protected]
