ROUYN-NORANDA, Quebec, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF): (“Radisson” or the “Company") is pleased to announce significant high-grade gold intercepts from the 127,600 m exploration drill program completed this summer 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.
Impressive intercepts along high-grade trend #2
- 10.65 g/t Au over 4.40 m including 18.68 g/t Au over 2.00 m (OB-22-308W4)
- 21.84 g/t Au over 2.00 m including 61.50 g/t Au over 0.70 m and;
- 21.33 g/t Au over 2.00 m including 42.00 g/t Au over 1.00 m and;
- 10.47 g/t Au over 3.60 m including 31.90 g/t Au over 1.00 m (OB-22-308W7)
Current resources along trend #2 are located from surface down to vertical depth of approximately 500 m. Drilling completed during this campaign expanded high-grade gold mineralization 400 m below current resources down to 900 m vertical depth. Results obtained along trend #2 confirmed the resource expansion potential and the presence of wider mineralized zones on the sector including 11.13 g/t over 10.70 m (OB-21-201), 18.42 g/t over 5.00 m (OB-20-180), 8.35 g/t over 6.00 m (OB-20-124), 8.93 g/t over 5.00 m (OB-21-290W1), 8.20 g/t over 7.00 m (OB-21-202) and 8.87 g/t over 5.00 m (OB-21-187).
Mineral resource estimate update - Q1 2023
The Company is pleased to report that the mineral resource estimate update for the O’Brien gold project is progressing within schedule. The Company is pleased to announce that it now expects the mineral resource estimate to be completed within the first quarter of 2023.
“We are pleased to report final results from the 127,600 m drill campaign completed in 2022. The main objective of the program started in 2019 was to expand the footprint of the O’Brien gold deposit in a 1.2 km corridor located east of the richest mine by grade in Quebec. This corridor represents less than 25% of the Radisson land holding along the prolific Larder-Lake-Cadillac Break and results have been impressive with 157 intercepts grading over 5 g/t Au within 256 holes published. Results from the 33,200 metres drilled along Trend #2 have been spectacular with 45 intercepts over 5 g/t Au within only 61 drill holes. High-grade gold mineralization has now been expanded down to 900 m vertical depth along Trend #2.
Considering the high-grade intercepts and larger widths observed in expansion drill holes along Trend #2 we expect this sector to contribute significantly to the resource estimate update. The resource estimate is progressing within schedule, and we are happy to provide investors a revised schedule for a publication now targeted during the first quarter” Commented Denis Lachance, Interim President and Chief Executive Officer.
Figure 1. O’Brien gold project, longitudinal section looking North – High-grade gold intercepts within and outside the 2019 resource estimate outline
Figure 2. Current resources area – longitudinal section looking North – Selected high-grade gold intercepts from current release
Figure 3. Summary of results published to date
|Drill results summary table|| || || |
|Hole||Zone||From (m)||To (m)|
|Au (g/t) -|
|OB-22-308W1||Trend #2|| || || || |
| || ||919.10||921.00||1.90||6.92|
| ||Which Includes||919.80||920.40||0.60||13.00|
|OB-22-308W4||Trend #2|| || || || |
| || ||950.00||954.40||4.40||10.65|
|OB-22-308W5||Trend #2|| || || || |
| || ||917.50||919.50||2.00||3.83|
|OB-22-308W7||Trend #2|| || || || |
| || ||951.00||953.00||2.00||21.84|
- True widths estimated at 70% to 80% of core length.
- For a full listing of drill results from current drilling program click here.
|Summary of results published to date|| || || || || |
| || || || |
|Sector / Trend||Published|
|# holes published||Number of published intercepts grading,|
|Kewagama East & Other||3,600||11||1||9%||4||4||2||1||1||1|
127,600 m of drilling completed to date
This release represents approximately 5,000 m of drilling in 10 drill holes. Released results to date represent 100% of the 127,600 m drilled during the campaign. As of January 20, 2023, the Company remains well funded with approximately $ 3.0 m in cash.
Figure 4. O'Brien Gold Project: Trend #2 cross section
Figure 5. Visible Gold in holes OB-22-308W2 and OB-22-308W7
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. 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 mining resources Inc. is the qualified person pursuant to the requirements of NI 43-101. Vivien Janvier has reviewed and approved the technical disclosure 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 Quebec’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 or contact:
Denis V. Lachance
Chairman, Interim President and CEO
Chief Financial Officer
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 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.