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Dryden Area Molybdenum Project
Radisson Mining Resources Ltd. has recently assembled a package of
molybdenum and gold properties in an area of historical multi- metallic
occurrences, located approximately 100 km south of Dryden, Ontario, near
Highway 502.
The Highway Showing consists of two parallel veins approximately 12
metres apart, exposed in a road cut. This constitutes a new discovery,
as no previous exploration for molybdenum has been reported in the
immediate area. The showing is associated with northeast trending quartz
veins, hosted by granodiorite. Prospecting and sampling programs to date
have returned a number of high-grade molybdenum analyses, with the best
analyses including 0.91% (18.2 lbs/ton), 1.53% (30.56 lbs/ton) and 4.32%
(86.4 lbs/ton). Veining parallels the regional fracture direction,
highlighted in government airborne mag / EM surveys.
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Another molybdenum and gold property has been assembled in the
general area of the Highway Showing. This property includes the Grave
Lake molybdenum occurrence, as well as the Smoothrock and Angove gold
showings. At Grave Lake, veins hosting molybdenum are oriented roughly
parallel to the regional northeasterly fracture direction, which also
parallels the splays off the Pipestone-Cameron Lake-Manitou fault system
to the north. At the Smoothrock Occurrence, previous exploration
programs indicate that the property hosts both gold and molybdenum
mineralization, with two separate zones of gold mineralization being
outlined (the Smoothrock Lake Occurrence and the Angove Showing) near
the west shore of Vickers Lake.
Regional geology in the area of the Highway, Grave, and Smoothrock
occurrences includes an Archean complex of mineralized multi-phase
intrusives, including gabbro and granodiorite phases. The region has
long been considered highly favourable for both precious and base metal
occurrences, although the molybdenum potential appears largely
neglected. The area also hosts a number of bulls-eye mag highs visible
in government airborne surveys, quartz feldspar porphyry units, and
chalcopyrite showings.
Further research into the molybdenum potential of the area also
resulted in the staking of two additional properties, located in the
Harper Lake and Olsen Bay areas around Manitou Lake to the north. These
properties consist of one claim (12 claim units) at Harper Lake and 5
claims (50 claim units) at Olsen Bay.
Molybdenum is one of the least fashionable metals for exploration,
and is becoming a scarce commodity with global metal prices currently in
the $25/lb range. It is used predominantly in the steel industry as an
anti-corrosive, strengthening, high temperature additive. The element/
commodity might also be called an "energy metal" in that all steel
alloyed oil and gas pipelines and drill piping contain 20% Mo. The same
applies for anti-corrosive stainless steel piping in nuclear power
plants. Industrial and urban growth in China, India, Asia and East
Europe and the need to rebuild areas of recent natural disasters in the
world including North America will require vast supplies of molybdenum
that are not in the global inventory now.
By initiating this venture, Radisson management is becoming
strategically diversified. It will enhance shareholder value by
identifying a new commodity - molybdenum - as a valuable target.
Radisson is also diversifying geographically by becoming involved in the
prolific untested mineral belts of the Precambrian Shield in Western
Ontario. |
