Radisson Intersects 81.83 g/t Gold Over 3.00 Metres on First Holes of its Phase 1 Drill Program at its O’Brien Gold Project in Quebec, Canada
Radisson Mining Resources Inc. (TSX-V: RDS, OTCQB: RMRDF) (“Radisson” or the “Company”) is pleased to announce results from the first 3 drill holes (or 1,240 metres (‘m”)) of an ongoing 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.
- OB-23-284 intersected 81.83 grams per tonne (“g/t”) gold (“Au”) over 3.00 m
- OB-23-283 intersected 6.16 g/t Au over 3.00 m and 5.17 g/t Au over 4.40 m
- Successful start confirms Inferred resource growth potential in the upper 500 m
- Program well underway with 12 drill holes completed, for 5,820 m drilled, to date
- 4,570 m of assays pending from 9 drill holes on Trend 3 and 4
“We are pleased to report that initial results from our ongoing 10,000 m drill program have successfully intersected high-grade mineralization demonstrating strong resource growth potential in the upper 500 m of the O’Brien deposit,” commented Chairman of the Board of directors and Interim President & CEO, Denis Lachance. “Drilling at O’Brien continues to deliver high grades, consistent with drill results obtained over the last several years and those included within the current mineral resource estimate, which exceed 10 g/t gold on an Indicated resource basis. We’re also pleased to see world-class gold grade as in hole OB-23-284. This is the type of high-grade mineralization that made the historic O’Brien mine so profitable and has the potential to deliver very strong margins in a future mining operation. We expect significant news flow as more results become available and we look forward to sharing additional details of the drill program expansion in the coming weeks.”
Targeting completed during Phase 1
Phase 1 of the drill program was designed with the objective of growing Inferred resources in areas with strongest veining and grade continuity within the first 500 m below surface, between Trends 0 and Trend 4.
As illustrated, in Figure 2 and 3, many zones can still be targeted in this superficial domain to reach a drill hole spacing of 25 m by 25 m. With the modeling of the veins and the compilation of historic gold values in the historic O’Brien mine, the vein’s behaviour is well understood and, moreover, the gold distribution along each vein is also understood. The high-grade gold shoots commonly form high grade shoots with a lateral strike length of 15-20 m and a continuous vertical extent up to 400 m as illustrated on the longitudinal view of the vein V3-N_12 (See Figure 3). Intercepts published in holes OB-23-283 and OB-23-284 support this concept in areas targeted for resource growth having reached a vertical extent exceeding 130 m. Areas like these, including the area where mineralization returned 81.83 g/t Au over 3.00 m are expected to contribute significantly to resources in a future MRE update.
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 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.
Vivien Janvier, P.Geo, Ph.D., Director Geology for Radisson is the Qualified Person as defined by NI 43-101. The Company’s Qualified Person has reviewed and approved the technical content of 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, Québec. The Bousquet-Cadillac mining camp has produced over 25,000,000 ounces of gold over the last 100 years. The project hosts the former O’Brien Mine, considered to have been Québec’s highest-grade gold producer during its production.
For more information on Radisson, visit our website at www.radissonmining.com or contact:
Denis V. Lachance
Chairman, Interim President and CEO
Manager, Investor Relations
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 final approval of the Exchange in connection with the Offering, the qualifying expenditures renunciation date, 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.