Radisson Mining Resources Inc. (TSX-V: RDS)
Announced 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.
The highlight was 110.97 g/t Au over 2.50 m.
|Radisson Mining||TSX.v : RDS|
|Market cap||C$89 m @ 37c|
Radisson intersects 110.97 g/t Au over 2.50 m highlighting lateral resource expansion potential on the first trend at the O’Brien project
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 hole||Zone||From (m)||To (m)||Length (m)||Grade g/t Au||Comments|
|637.50||640.00||2.50||110.97||Piché Porphyry, VG|
1. VG denotes the presence of visible gold
2. 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.
3. Assay grades shown uncapped. A capping factor of 60 g/t Au was used in the 2019 resource estimate4. 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.
Drill results highlight the potential for resource growth to the east in the first mineralised trend (300 m east of the old O’Brien Mine) near the lower boundary of current resources
- Hole OB-20-167 returned 110.97 g/t Au over 2.50 m core length (vertical depth of 600 m) including separate intervals of 16.40 g/t over 1.00 m and 371.00 g/t over 0.70 m, and within a broader mineralized interval
- The drill hole intersected mineralised structures near the eastern and lower boundary of current resources in the first mineralised trend, including visible gold showings at 638.00 m and 639.30 m core length (See photo)
- This intercept was obtained close to historical intercepts of 1920.00 g/t Au over 0.21 m and 101.31 g/t over 0.61 m
- As previously indicated, assays are also pending for OB-20-164 and OB-20-170, which intersected mineralised structures with visible gold above the high-grade intercept in OB-20-167
- OB-20-164 intersected visible gold in the targeted structures, 50 m above and to the west of OB-20-167
- OB-20-170 intersected visible gold in the targeted structures, approximately 40 m to the east of OB-20-167
- Results demonstrate the potential to meaningfully expand resources in the first mineralised trend to the east and at depth.
- Current resources in the area are limited to a vertical depth of 600 m and drilling to date has demonstrated continuity down to a depth of approximately 960 m
- Within an area extending approximately 300 m laterally and 350 m vertically below the resource boundary.
- Mineralisation is open for expansion laterally and at depth below 960 m.
Shallow high-grade intercepts suggest an opportunity to expand resources in the gap between the old O’Brien mine and the upper part of the first high-grade trend
- Hole OB-20-159 intersected multiple mineralised intercepts near the upper boundary of defined resources approximately halfway between the first mineralised trend and the old O’Brien Mine including,
- 10.87 g/t Au over 3.15 m (vertical depth of 125 m) including 13.15 g/t over 2.35 m
- 13.61 g/t Au over 2.10 m (vertical depth of 150 m) within a broader interval grading 7.32 g/t over 4.60 m, with visible gold showings at 187.60 m
- In addition, Hole OB-20-158 intersected 8.68 g/t over 2.00 m below defined resources in the area and approximately 250 m below the intercepts in OB-20-159.
- These intercepts were obtained above and to the west of previously released intercepts of 92.89 g/t Au over 2.60 m in OB-20-153 (vertical depth of 230 m), and historical high-grade intercepts of 43.37 g/t Au over 1.31 m and 124.57 g/t over 0.82 m, all of which are currently excluded from the 2019 resource estimate
- Assays are pending for hole OB-20-168 which intersected visible gold in two sections, 295 m and 330 m respectively west of currently defined resources and approximately 400 m below and 50 m to the east of OB-20-159.
- OB-20-159 and OB-20-153 along with historical high-grade intercepts highlights opportunities for significant resource growth in gap between the old O’Brien mine and current resources in the first mineralised trend.
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 mineralised trends, located approximately 300 m, 600 m and 900 m respectively to the east of the old O’Brien Mine.
- Assays are pending from step-out drill holes completed on all three trends.
- 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 the first trend, drilling has highlighted continuity of mineralization down to a vertical depth of 950 m, approximately 350 m below the boundary of resources that are limited to a vertical depth of 600 m.
- In the second trend, drilling has highlighted continuity of mineralization down to a vertical depth of 700 m, approximately 300 m below the boundary of resources that are mostly within 400 m from surface.
- In the third trend, drilling has traced mineralization down to 500 m vertical depth from surface. Current resources are mostly confined to between surface and 240 m vertical depth.
- 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 km of prospective strike that Radisson controls along the Cadillac Break.
56,446 m of drilling completed to date with assays pending for approx. 11,500 m
- This release represents approximately 3,779 m of drilling.
- Released results to date (since the commencement of drilling in August 2019) represent only 68% of the total planned 60,000 m program.
- Assays are pending for previously discussed holes OB-20-164, OB-20-168, OB-20-170 and OB-20-174, all which intersected visible gold in the targeted structures.
- With approximately $16 M in treasury, the company is now funded to expand the program to over 130,000 m through 2021
“We are very pleased with results from our ongoing drill program that continue to validate our litho-structural model and highlight the significant resource upside at O’Brien. Our work program so 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 as we systematically step out to drill test more than the 5 km of strike length that we control along the prolific Cadillac Break.” commented Mario Bouchard, Chief Executive Officer
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.
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
On behalf of the board of directors
CEO and Director
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