Radisson Mining Resources Inc. (TSX-V: RDS)
Announced significant high-grade gold intercepts from the ongoing 130,000 m exploration drill program at its 100% owned O’Brien gold project
The glory holes were 57.48 g/t Au over 2.80 m, and 18.42 g/t Au over 5.00 m
|Radisson Mining||TSX.v : RDS|
|Market cap||C$81 m @ 33.5 c|
Radisson intersects 57.48 g/t Au over 2.80 m, 18.42 g/t Au over 5.00 m and 4.79 g/t over 10.70 m up to 330 m below current resources along high-grade trend #2 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 130,000 m exploration 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.
- Resource expansion drilling along high-grade trend #2 returned multiple high-grade intercepts down to more than 800 m vertical depth (up to 330 m below current resources). Notable intercepts,
- 57.48 g/t Au over 2.80 m,including196.00 g/t over 0.80 m
- 4.79 g/t Au over 10.70 m,including5.77 g/t over 7.10 m
- 14.51 g/t Au over 2.00 mincluding27.70 g/t over 1.00 m
- 18.42 g/t Au over 5.00 mincluding42.45 g/t over 2.00 m
- OB-20-156 (See 11.32 g/t Au over 11.80 m), OB-20-156W1, OB-20-156W2, OB-20-169, and OB-20-180 were designed to target resource expansion at depth along high-grade trend #2
- 130,000 m drill program (commenced Aug 2019) underway at O’Brien.
- 68,835 m completed thus far with results pending for16,440m
- Cash balance of approx. $13.7 M
Step-out drilling highlights resource growth potential up to 330 m below current resources in trend #2 (600 m east of the old O’Brien Mine)
OB-20-156W1andOB-20-156W2 both returned multiple high-grade intercepts above the11.32 g/t Au over 11.80 m intercept previously released in pilot holeOB-20-156, suggesting the potential for resource expansion 330 m below current resources.
These results also appear to align nicely with an historical intercept of 17.46 g/t over 1.00 m (KW-04-02W1) obtained further down-plunge at a depth of approximately 1,100 m (See figure 2 and 3).
HolesOB-20-169andOB-20-180 also returned high-grade gold intercepts, further west and above of OB-20-156W1 and OB-20-156W2. HoleOB-20-180 returned18.42 g/t Au over 5.00 m, in separate mineralized zones that appears to align with previously released intercepts of 8.35 g/t Au over 6.00 m(OB-20-124) and 14.30 g/t over 2.00 m and 22.17 g/t over 1.80 m(OB-19-106).
High-grade intercepts obtained in holes OB-20-124, OB-20-156, 156w1, 156w2, OB-20-169 and OB-20-180 appear to have all been obtained around and at the intersection of multiple mineralized structures, supporting the presence for a second mineralized trend 600 m east of the main infrastructures mined in the old O’Brien mine.
Current resources in this area are largely limited to a vertical depth of 400 m. Drilling so far suggests continuity of mineralization to a vertical depth of more than 800 m. This trend is currently open below 800 m.
Since the restart of the drilling program, drilling has been ongoing along trend #2, and multiple high-priority drill targets remain to be tested to expand potential resources in the area.
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 mineralized trends, located approximately 300 m, 600 m and 900 m respectively to the east of the old O’Brien Mine. 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 trend #1, drilling has highlighted continuity of mineralization down to a vertical depth of 950 m, while current resources are mostly limited to a vertical depth of approximately 600 m.
In trend #2, drilling has highlighted continuity of mineralization down to a vertical depth of over 800 m, while current resources are mostly within 400 m from surface.
In trend #3, 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 5.2 km of prospective strike that Radisson controls along the Cadillac Break.
Given current geological understanding, the ongoing validation of the litho structural model, the company estimates there is strong exploration for additional high-grade gold trends along the whole 5.2 km prospective land package on the prolific Larder-Lake Cadillac Break.
68,835m of drilling completed to date with assays pending for approx. 16,440 m
This release represents approximately 3,432 m of drilling in 6 drill holes. Released results to date (since the commencement of drilling in August 2019) represent approximately 42% of the 130,000 m envisioned to be completed by the end of 2021.
As of March 10, 2021, the company remains well funded with approximately $13.7 m in cash.
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.
Radisson Mining Resources website – www.radissonmining.com
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