Radisson Mining Resources {TSX.V: RDS}
Filed a technical report titled “Technical Report and Mineral Resource Estimate for the O’Brien gold project, Abitibi, Quebec.
Indicated resources of 949,700 tonnes at 9.48 g/t Au, for a total of 289,400 oz Au, and inferred resources of 617,400 tonnes at 7.31 g/t Au, for a total of 145,000 oz Au.
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Radisson files NI 43-101 technical report for O’Brien
2019-08-29 12:18 ET – News Release
Mr. Mario Bouchard reports
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RADISSON FILES NI 43-101 TECHNICAL REPORT FOR THE OA BRIEN RESOURCE ESTIMATE ON SEDAR
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Radisson Mining Resources Inc. has filed a technical report titled “Technical Report and Mineral Resource Estimate for the O’Brien gold project, Abitibi, Quebec” with an effective date of July 15, 2019. The independent National Instrument 43-101 technical report completed for the company by 3DGeo-Solution includes the resource estimate of the O’Brien gold project located along the Larder-Lake Cadillac break halfway between the two mining towns of Rouyn-Noranda and Val d’Or, Que.
The report is available on SEDAR and on Radisson’s website.
.The report supports Radisson’s opportunity of exploring and developing a high-grade gold project located along a major fault, within a world-renowned mining camp and host of a historical high-grade production (1,197,147 metric tons at 15.25 grams per tonne gold for 587,121 ounces of gold from 1926 to 1957; 3DGeo-Solution, July, 2019).
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Press release highlights
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New mineral resource estimate
Using a five g/t Au cut-off grade, the current mineral resource estimate reports:
- Indicated resources of 949,700 tonnes at 9.48 g/t Au, for a total of 289,400 ounces Au;
- Inferred resources of 617,400 tonnes at 7.31 g/t Au, for a total of 145,000 ounces Au.
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The new mineral resource estimate is based on:
- The new litho-structural interpretation released in March, 2019;
- 16,201-metre additional drilling from F, 36E and Vintage zones.
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Large increases in contained gold ounces and average gold grades
The new mineral resource estimate has resulted in a large increase of contained gold ounces per vertical metre as grade and contained ounces have increased across all categories at all cut-offs.
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New litho-structural model unlocks the jewellery box mystery of the high-grade O’Brien mine
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The new structural model has resulted in a much better comprehension of the O’Brien gold project, highlighting a strong compatibility with the historic data and geometry of the old O’Brien mine, where only three veins returned 90 per cent of the historic production at an average grade of 15.25 g/t Au.
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New litho-structural model unlocks significant property-wide exploration potential along strike and at depth
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Current mineral resource area is only defined to 550 m depth. Two historical drill intercepts have returned 17.46 g/t Au over one m and 13.68 g/t Au over 0.32 m below 1,000 m depths. Other mines in the area have exceeded depths well below 1,000 m. Current mineral resource area is adjacent to the old O’Brien mine where historic production reached a vertical depth of 1,100 m and remains untested below.
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High-priority resource expansion and exploration drill targets have been defined:
- In vertical extension of the 36E and F zones;
- Infill targets and in vertical extension of the Kewagama zone;
- On the Vintage zone;
- Near surface on O’Brien West.
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2019 O'BRIEN PROJECT MINERAL RESOURCE ESTIMATE AT A FIVE G/T AU BASE CASE CUT-OFF AND
SENSITIVITY AT OTHER CUT-OFF SCENARIOS
Indicated resources Inferred resources
Zones Cut-off (g/t Au) Tonnes (t) Grade (g/t Au) Ounces (oz) Tonnes (t) Grade (g/t Au) Ounces (oz)
All zones 7.00 544,600 12.16 212,800 243,600 9.69 75,900
6.00 712,100 10.82 247,700 374,700 8.54 102,900
5.00 949,700 9.48 289,400 617,400 7.31 145,000
4.00 1,350,300 7.99 346,700 975,000 6.27 196,600
3.50 1,599,900 7.32 376,800 1,208,100 5.78 224,700
3.00 1,906,200 6.67 408,700 1,500,200 5.29 255,000
1. The independent qualified person for the current 2019 MRE, as defined by NI 43-101, is Kenneth Williamson,
MSc, PGeo, of Kenneth Williamson 3DGeo-Solution. The effective date of the estimate is July 15, 2019.
2. The mineral resources are classified as indicated and inferred mineral resources, and are based on the 2014
CIM definition standards.
3. These mineral resources are not mineral reserves as they do not have demonstrated economic viability.
4. Results are presented undiluted.
5. Sensitivity was assessed using cut-off grades from three g/t Au to seven g/t Au. Cut-off grade is function
of prevailing market condition (such as gold price, exchange rates and mining costs) and must therefore be
re-evaluated accordingly.
6. Base case cut-off grade of five g/t Au was established considering the narrow nature of the mineralized
zones, a gold price of $1,350 (U.S.) per ounce or $1,755 per ounce using a 1.3 exchange rate, a recovery of
87.4 per cent, a gold selling cost of $5 per ounce, an overall mining cost of $67.5 per tonne, a processing
cost of $65 per tonne, and a general and administrative expense/environmental cost of $32.50 per tonne.
7. High-grade capping of 60 g/t Au was applied to raw assay grades prior to compositing. Compositing length
was established at 1.5 m. Interpolation was realized using an inverse distance cubed (ID3) methodology within
a three m by three m by three m cell-size block model.
8. Density data (gram per cubed centimetre) was set to 2.82 g/cm3 based on available density measurements.
9. A minimum true thickness of 1.5 m was applied for the construction of the mineralized zones model, which
consist of 63 different mineralized zones.
10. Following recommendation of Form 43-101F1, the number of metric tons and ounces was rounded to the nearest
100th. Any discrepancies in the totals are due to rounding effects.
11. Kenneth Williamson 3DGeo-Solution is not aware of any known environmental, permitting, legal, title-
related, taxation, socio-political, marketing or other relevant issues that could materially impact the
current mineral resource estimate.
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Kenneth Williamson 3DGeo-Solution considers the 2019 MRE to be reliable and based on quality data, reasonable hypotheses and parameters that follow CIM definition standards, and that the results, presented undiluted, are considered to have reasonable prospects for eventual economic extraction.
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Twenty-thousand-metre Drilling program underway at O’Brien
Two drill rigs are now on site and running at O’Brien with approximately 20,000 m to be completed by the end of January, 2020. Radisson is working on increasing property-wide resources by targeting the vertical extension below the 36E, F and Kewagama zones, and by further testing the Vintage zone. The new litho-structural model also unlocked exploration targets on O’Brien West, located a few metres west of the old O’Brien mine. Part of Radisson’s strategy also includes infill drilling within volumes of high-grade inferred resource material where a potential for resource-type conversion exists.
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Qualified person
Richard Nieminen, PGeo, exploration manager, acts as a qualified person as defined in NI 43-101, and has reviewed and approved the technical information in this press release.
The independent and qualified person for the mineral resources estimate, as defined by NI 43-101, is Mr. Williamson, MSc, PGeo, of Kenneth Williamson 3DGeo-Solution, and confirms that he has reviewed this press release, and that the scientific and technical information is consistent.
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About Radisson Mining Resources Inc.
Radisson is a gold exploration company focused on its 100-per-cent-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 million 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.
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