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Radisson Mining Resources Inc (2)
Symbol RDS
Shares Issued 245,650,890
Close 2021-09-08 C$ 0.255
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Radisson drills two m of 25.68 g/t Au at O'Brien

2021-09-09 06:55 ET - News Release

Mr. Rahul Paul reports

RADISSON REPORTS HIGH GRADE GOLD INTERCEPTS INCLUDING 25.68 G/T OVER 2.00 M, 8.20 G/T OVER 7.00 M, 24.80 G/T OVER 2.00 M AND 10.02 G/T OVER 4.40 M FROM RESOURCE EXPANSION DRILLING AT THE O'BRIEN PROJECT

Radisson Mining Resources Inc. has released significant high-grade gold intercepts from the continuing 130,000-metre exploration drill program at its 100-per-cent-owned O'Brien gold project located along the Larder-Lake-Cadillac break, halfway between Rouyn-Noranda and Val d'Or in Quebec, Canada.

Key highlights:

  • Significant intercepts from resource expansion drilling (upper 450 metres) along trend No. 2:
    • OB-21-202:
      • 8.20 grams per tonne gold over 7.00 m, including 10.95 g/t Au over 3.90 m;
    • OB-21-204:
      • 25.68 g/t Au over 2.00 m, including 51.30 g/t Au over 1.00 m;
    • OB-21-205:
      • 10.59 g/t Au over 2.10 m, including 19.75 g/t Au over 1.10 m;
    • OB-21-211:
      • 15.91 g/t Au over 2.00 m, including 31.80 g/t Au over 1.00 m;
  • Significant intercepts from resource expansion drilling (upper 200 m) along trend No. 3:
    • OB-21-206:
      • 9.76 g/t Au over 2.00 m, including 19.45 g/t Au over 1.00 m;
      • 24.80 g/t Au over 2.00 m, including 48.60 g/t Au over 1.00 m;
    • OB-21-207:
      • 10.02 g/t Au over 4.40 m, including 24.80 g/t Au over 1.30 m;
      • 11.12 g/t Au over 2.30 m, including 19.05 g/t Au over 1.30 m;
  • Released results include multiple shallow high-grade intercepts outside defined resources in the upper 450 m of trend No. 2 and upper 200 m of trend No. 3;
  • Drill results have also traced mineralization at depth well below currently defined resources, down to 800 m along trend No. 2 (current resources are mostly within the upper 400 m) and down to 500 m along trend No. 3 (current resources are mostly within the upper 240 m);
  • 130,000 m drill program (commenced August, 2019) under way at O'Brien:
    • 87,470 m completed thus far with results pending for 10,021 m;
  • Cash balance of approximately $10.0-million.

                                  HIGHLIGHT DRILL RESULTS
 
Hole                   From               To       Core length (1)      Au -- uncut (2)
                        (m)              (m)                   (m)                (g/t)
OB-20-173
                     232.00           234.00                  2.00                 7.81
                     232.00           233.00                  1.00                14.50
OB-20-177
                     287.00           289.00                  2.00                 7.59
                     287.00           288.00                  1.00                 9.33
                     379.50           381.50                  2.00                 5.35
OB-20-178
                     220.25           222.60                  2.35                 9.21
                     221.15           222.60                  1.45                14.85
                     471.90           474.30                  2.40                 4.19
OB-21-202
                     465.30           472.30                  7.00                 8.20
                     467.30           471.20                  3.90                10.95
OB-21-204
                      87.60            89.60                  2.00                25.68
                      88.60            89.60                  1.00                51.30
                     432.00           435.15                  3.15                 4.47
                     434.00           435.15                  1.15                 7.62
OB-21-205
                     213.90           216.00                  2.10                10.59
                     214.90           216.00                  1.10                19.75
                     398.40           400.20                  1.80                 5.45
                     399.20           400.20                  1.00                 9.79
OB-21-209
                     385.90           388.20                  2.30                 4.86
                     387.40           388.20                  0.80                 8.05
OB-21-210
                     156.00           158.00                  2.00                 7.32
                     157.00           158.00                  1.00                14.60
OB-21-211
                     132.00           134.00                  2.00                15.91
                     132.00           133.00                  1.00                31.80
                     246.00           249.00                  3.00                 6.54
                     246.00           248.00                  2.00                 8.29
OB-21-214
                     360.20           362.20                  2.00                 6.36
                     360.20           361.20                  1.00                11.30
OB-21-206
                      95.40            97.40                  2.00                 9.76
                      96.40            97.40                  1.00                19.45
                      44.30           246.20                  1.90                 6.88
                      67.30           269.30                  2.00                24.80
                      68.30           269.30                  1.00                48.60
OB-21-207
                     174.50           178.90                  4.40                10.02
                      74.50           175.40                  0.90                13.10
                      77.60           178.90                  1.30                24.80
                      56.20           258.50                  2.30                11.12
                      56.20           257.50                  1.30                19.05

(1) True widths estimated at 70 per cent to 80 per cent of core length. Unless 
otherwise relevant, primary intercepts reflect minimum mining width (1.50 m true 
width) at a 5.00 g/t cut-off grade consistent with assumptions used in the 2019 MRE.
(2) Assay grades are shown uncapped. A capping factor of 60 g/t Au was used in the 
2019 resource estimate.
(3) The table includes only intercepts that meet five g/t Au cut-off and minimum 
mining width constraints used in the 2019 MRE.

 

"We continue to be very encouraged by results from our ongoing campaign that validate our lithostructural model and demonstrate the significant upside to currently defined resources. Drilling thus far has suggested the potential to at least double the depth extent of resources along three high-grade mineralized trends within an approximately one km strike to the east of the old O'Brien mine.

"In addition, several shallow holes released today intersected high-grade mineralized structures outside defined resource blocks in the upper 450 m along trend No. 2 and in the upper 200 m along trend No. 3, highlighting opportunities for resource growth in sparsely drilled areas closer to surface.

"We are particularly impressed by results from trend No. 3, including 10.02 g/t Au over 4.40 m in hole OB-21-207, aimed at expanding one of the highest-grade resource blocks in the 2019 mineral resource estimate.

"The majority of our work program thus far has been focused within one km along strike to the east of the historic O'Brien mine, we believe there is significantly more upside to be unlocked from a prospective land package that includes more than five km of strike length along the prolific Cadillac break. Results so far all support our theory of discovering and expanding additional high-grade mineralized trends as we step out systematically further along strike and deeper beyond the limits of drilling to date," commented Rahul Paul, president and interim chief executive officer.

Stepout drilling highlights resource growth potential up to 330 m below current resources in trend No. 2 (600 m east of the old O'Brien mine)

OB-21-202 intersected 8.20 g/t Au over 7.00 m at a vertical depth of approximately 440 m. This intercept along with several relatively broader intercepts (previously released) from holes OB-20-124 (8.35 g/t Au over 6.00 m), OB-20-180 (18.42 g/t over 5.00 m), OB-20-156 (11.32 g/t Au over 11.80 m), OB-20-156W2 (5.77 g/t over 7.10 m) and OB-21-201 (11.13 g/t Au over 10.70 m) suggest potential for wider mineralized zones (five to 20 m wide) between 400 and 700 m vertical depth, likely highlighting the impact of crosscutting high-grade mineralized veins.

Drilling has now traced mineralization down to a vertical depth of 800 m in this sector where most of the current resources lie from surface down to 400 m depth. Mineralization in trend No. 2 is currently open for expansion below 800 m as well as laterally to the east and west.

Exploration drilling highlights resource growth potential along trend No. 3 (900 m east of the old O'Brien mine)

Drill holes OB-21-206 and OB-21-207 (10.02 g/t Au over 4.40 m) were designed as resource expansion drill holes near one of the highest-grade resource blocks defined in 2019. These results add to high-grade gold intercepts obtained in 2020 in the sector in hole OB-20-149 (45.86 g/t Au over 2.10 m, obtained 260 m below current resources) and OB-20-146 (17.90 g/t Au over 2.15 m and 21.29 g/t Au over 2.00 m).

Newly released intercepts confirm resource expansion and exploration potential in the sector where most of current resources lie from surface down to only 240 m depth.

Drilling at O'Brien continues to validate the lithostructural 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 to structures previously mined at O'Brien down to a depth of 1,100 m (historical production of 587,000 ounces 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 No. 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 No. 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 No. 3, drilling has traced mineralization down to 500 m vertical depth from surface. Current resources are mostly confined to within a vertical depth of 240 m.

Almost all drilling conducted as part of the continuing campaign has been within a strike length of approximately one 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 continuing validation of the lithostructural 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.

87,470 m of drilling completed to date with assays pending for approximately 10,021 m

This release represents approximately 9,660 m of drilling in 19 drill holes. Released results to date (since the commencement of drilling in August, 2019) represent approximately 52 per cent of the 130,000 m envisioned to be completed by the end of 2021. As of Sept. 7, 2021, the company remains well financed with approximately $10-million in cash.

Quality assurance/quality control

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's laboratory in Val d'Or, Que. Samples yielding a grade higher than five 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, blank samples and duplicates were inserted prior to shipment for quality assurance and quality control (QA/QC) program.

Qualified person

Kenneth Williamson, MSc, PGeo, senior adviser, geology, and Nicolas Guivarch, MSc, PGeo, senior geologist -- technical services, are the qualified persons pursuant to the requirements of National Instrument 43-101, and have reviewed and approved the technical disclosure 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, Quebec. The Bousquet-Cadillac mining camp has produced over 21 million ounces of gold over the past 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 tonnes at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957).

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