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Radisson Mining Resources Inc (2)
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Radisson drills 3.9 m of 34.71 g/t Au at O'Brien

2021-10-18 06:40 ET - News Release

Mr. Rahul Paul reports


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 along trend No. 1:
    • 34.71 grams per tonne gold over 3.90 m, including 127.00 g/t Au over 1.00 m (OB-21-216W1);
    • 7.55 g/t Au over 10.50 m, including 10.46 g/t Au over 6.00 m (OB-21-240);
    • 17.56 g/t Au over 2.00 m, including 34.80 g/t Au over 1.00 m, and 8.22 g/t over 2.00 m, including 14.70 g/t Au over 1.10 m (OB-21-226);
    • 13.23 g/t Au over 2.00 m, including 32.90 g/t Au over 0.80 m (OB-21-215);
    • 9.25 g/t Au over 2.00 m, including 11.35 g/t Au over 1.00 m, and 10.02 g/t Au over 2.30 m, including 14.70 g/t Au over 1.30 m (OB-21-217).
  • New and previously released high-grade intercepts confirm and support resource expansion potential down to 950 m vertical depth along trend No. 1;
  • 130,000 m drill program under way at O'Brien:
    • 99,100 m completed thus far with results pending for 23,840 m;
    • Cash balance of approximately $8.5-million.

"Drill results continue to validate our lithostructural model while demonstrating significant resource growth potential at the high-grade O'Brien project. Drilling thus far has suggested the potential to at least double the depth extent of resources along three high-grade trends within an approximately one-kilometre strike to the east of the old O'Brien mine.

"Several high-grade gold intercepts from recent drilling along trend No. 1, including 34.71 g/t over 3.90 m (OB-21-216W1) and 17.56 g/t over 2.00 m (OB-21-226), intersected mineralized structures outside defined resource blocks, confirming the potential for resource growth along trend No. 1, laterally and at depth. In addition, drilling intersected 7.55 g/t over 10.50 m (OB-21-240), confirming and potentially expanding some of the deepest inferred resources along this trend.

"The majority of our work program thus far has been focused within a 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 chief executive officer.

                          HIGHLIGHT DRILL RESULTS
Hole                 From           To       Core length        Au -- uncut
                      (m)          (m)               (m)              (g/t)
                   302.00       304.00              2.00               5.81
                   302.00       303.00              1.00              11.05
                   723.00       725.00              2.00               5.28
                   723.00       724.00              1.00               7.38
                   822.25       825.25              3.00               5.26
                   824.10       825.25              1.15               9.47
                   826.25       828.25              2.00               5.54
                   827.50       828.25              0.75              14.70
                   751.10       753.10              2.00              13.23
                   751.10       751.90              0.80              32.90
                   862.50       864.50              2.00               4.04
                   862.10       866.00              3.90              34.71
                   862.70       864.70              2.00              64.22
                   862.70       863.70              1.00             127.00
                   857.60       859.60              2.00               9.25
                   858.60       859.60              1.00              11.35
                   873.40       875.70              2.30              10.02
                   874.40       875.70              1.30              14.70
                   897.20       899.20              2.00               3.46
                   279.00       281.00              2.00              17.56
                   280.00       281.00              1.00              34.80
                   314.00       316.00              2.00               5.82
                   315.00       316.00              1.00              11.60
                   700.30       702.30              2.00               8.22
                   701.20       702.30              1.10              14.70
                   801.20       811.70             10.50               7.55
                   803.70       809.70              6.00              10.46
                   803.70       806.70              3.00              16.78

(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. 

Resource expansion potential at depth along high-grade trend No. 1 (300 m east of the old O'Brien mine)

Hole OB-21-216W1 returned 34.71 g/t Au over 3.90 m core length at a vertical depth of 720 m approximately 60 m below current resources boundary. In addition, OB-21-240 returned 7.55 g/t Au over 10.50 m, confirming and possibly expanding some of the deepest inferred resources along trend No. 1. In addition, OB-20-171, OB-21-217 and OB-21-226 returned multiple high-grade intercepts outside current resources both along and outside of targeted zones.

These intercepts along with other previously released intercepts including 66.71 g/t Au over 4.70 m (OB-19-92W2b), 37.76 g/t Au over 2.00 m (OB-19-98W2), 23.57 g/t Au over 2.60 m (OB-19-107), 45.33 g/t Au over 2.20 m (OB-20-148W1), 110.97 g/t Au over 2.50 m (OB-20-167), 24.22 g/t Au over 3.00 m (OB-20-174w1b) and 19.63 g/t Au over 3.40 m (OB-20-181) demonstrate continuity of high-grade mineralization down to a vertical depth of 950 m and up to 350 m below currently defined resources on trend No. 1.

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 with 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 ongoing 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.

99,100 m of drilling completed to date with assays pending for approximately 23,840 m

This release represents approximately 7,200 m of drilling in nine drill holes. Released results to date (since the commencement of drilling in August, 2019) represent approximately 58 per cent of the 130,000 m planned thus far. As of Oct. 15, 2021, the company remains well financed with approximately $8.5-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

Nicolas Guivarch, MSc, PGeo, manager, exploration and technical services, is the qualified person pursuant to the requirements of National Instrument 43-101, and has 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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