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Radisson Mining Resources Inc (2)
Symbol RDS
Shares Issued 137,079,250
Close 2019-08-13 C$ 0.145
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Radisson starts 20,000 m drill program at O'Brien

2019-08-13 06:55 ET - News Release

Mr. Mario Bouchard reports

RADISSON MOBILIZES TWO DIAMOND DRILL RIGS FOR A 20,000 METERS DRILL PROGRAM

Radisson Mining Resources Inc. has started a fully financed 20,000-metre drill program at its 100-per-cent-owned O'Brien gold project, located along the Larder-Lake-Cadillac (LLC) break in Cadillac, Que. Two drill rigs are now on site and running at O'Brien with approximately 20,000 metres to be completed by the end of January, 2020. The F zone, 36E and Kewagama zones of the O'Brien project are located within a 1.5-kilometre corridor directly south of the LLC. The Vintage zone is parallel to and between 30 to 85 metres north of the LLC.

Press release highlights

New litho-structural model unlocks the jewellery box mystery of the high-grade O'Brien mine

The new structural model and resource estimate have 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 grams per tonne gold.

Exploration below 550 metres

One diamond drill rig will focus on the vertical extension of the highest-grade mineralized shoots on the 36E and F zone, where high-priority exploration targets established below current resource. The deepest level of the resource area is at only 550 m depth and remains largely untested below. Two historical drill intercepts have returned 17.46 g/t Au over 1.00 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. The current mineral resource area is adjacent to the old O'Brien mine where historic production reached a vertical depth of 1,100 metres and remains untested below.

The company is currently drilling a mother hole 150 m below the deepest level of the resource area, from a set-up where multiple wedges and drill holes will be completed for an initial 9,000 m.

Exploration potential along strike, to the north, resource expansion and conversion

The second diamond drill rig is currently focused on the shallower Kewagama zone, where high-priority exploration targets have been established for resource expansion and conversion for approximately 4,000 m.

Through 2019 the second rig, will also be conducting exploration drilling on the Vintage zone (north of the Larder-Lake-Cadillac break). The new litho-structural model also unlocked exploration targets on O'Brien West, located a few metres west of the old O'Brien mine.

20,000 m drill program

High-priority targets were established in recent months, based on the new litho-structural interpretation completed in 2019. This interpretation led to a new resource estimate published in July, resulting in a large increase of contained gold ounces per vertical metre as grade and contained ounces have increased across all categories at cut-offs.

"The resource expansion and exploration of prospective zones established with our new model, will allow for further validation of this new geological understanding. With a strong treasury and a fully financed drill program, we are confident we can generate strong value for our shareholders," commented Mario Bouchard, president and chief executive officer.

Qualified person

Richard Nieminen, PGeo, 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.

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, Que. 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 (1,197,147 metric tonnes at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957; 3D Geo-solution, July, 2019).

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