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Radisson Mining Resources Inc (2)
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Close 2022-01-11 C$ 0.27
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Radisson drills two m of 31.56 g/t Au at O'Brien

2022-01-12 06:43 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 exploration drilling along new high-grade trend No. 4 OB-21-241:
    • 31.56 grams per tonne gold over 2.00 metres including 60.80 g/t Au over 1.00 m;
    • OB-21-228: multiple high-grade intercepts including:
      • 13.83 g/t Au over 2.40 m, including 29.30 g/t Au over 1.10 m;
      • 9.30 g/t Au over 1.90 m, including 17.55 g/t Au over 1.00 m;
      • 5.66 g/t Au over 2.00 m, including 10.35 g/t Au over 1.00 m;
    • OB-21-229: 5.14 g/t Au over 2.00 m and 5.95 g/t Au over 2.20 m;
    • OB-21-244: 4.03 g/t Au over 2.15 m and 4.70 g/t Au over 2.00 m;
    • New results along with historical drilling suggest a fourth potential high-grade mineralized vector (trend No. 4) approximately 1,200 m east of the old O'Brien mine;
    • This sector does not contribute meaningfully to current resources. Drilling has traced mineralization down to a vertical depth of 330 m in this area, which remains open for expansion over 750 m laterally and at depth;
  • Significant intercepts from resource expansion drilling along high-grade trend No. 3:
    • OB-21-255: 15.68 g/t Au over 2.00 m, including 25.10 g/t Au over 1.00 m;
    • OB-21-256: 11.75 g/t Au over 2.50 m, including 24.30 g/t Au over 1.00 m;
    • Drilling to date has traced mineralization to a depth of 500 m in this sector where current resources are largely limited to a vertical depth of 240 m;
  • 130,000 m drill program underway at O'Brien:
    • 116,000 m completed thus far with results pending for 34,000 m;
    • Cash balance of approximately $11.0-million.

"In addition to targeting resource expansion along previously defined high-grade trends 1, 2 and 3, we are also stepping out to define additional O'Brien-like mineralized trends to the east of trend No. 3 and to the west of the historic O'Brien mine. We are very pleased to report recent results including 13.83 g/t over 2.40 m (OB-21-228) and 31.56 g/t Au over 2.00 (OB-21-241) that appear to confirm a potential fourth high-grade mineralized vector further east of trend No. 3 and 1,200 m east of the old O'Brien mine. Current and historical intercepts have now traced mineralization down to a vertical depth of 330 m in this sector that does not meaningfully contribute to current resources. In addition, drilling continues to highlight resource expansion potential along high-grade trend No. 3, with notable new intercepts including 15.68 g/t Au over 2.00 m (OB-21-255) and 11.75 g/t Au over 2.50 m (OB-21-256).

"While results thus far cover only 1.2 km of strike to the east of the O'Brien mine, today's results reaffirm the potential upside from the more than five km of prospective strike that we control along the Cadillac break. Results are pending from 34,000 m of drilling in 74 holes, of which 33 holes have visible gold occurrences. This includes an initial 5,700 m exploration drill program completed to the west of the O'Brien mine and 28,300 additional metres completed on trend 0, 1, 2 and 3. In addition, we are currently drilling high-priority targets below previously encountered mineralization in trend No. 1 and No. 2. We expect a significant amount of news flows in the weeks and months ahead as these results become available," commented Rahul Paul, president and chief executive officer.

                                        NOTABLE DRILL RESULTS
Hole                         From                     To            Core length            Au -- uncut
                              (m)                    (m)                    (m)                  (g/t)

                           171.10                 173.00                   1.90                   9.30
                           172.00                 173.00                   1.00                  17.55
                           394.90                 397.30                   2.40                  13.83
                           394.90                 396.00                   1.10                  29.30
                           442.30                 444.30                   2.00                   5.66
                           442.30                 443.30                   1.00                  10.35
                            77.00                  79.00                   2.00                   5.14
                           152.80                 155.00                   2.20                   5.95
                           145.00                 147.00                   2.00                  31.56
                           146.00                 147.00                   1.00                  60.80
                            36.00                  38.15                   2.15                   4.03
                           153.80                 155.80                   2.00                   4.70
                           352.00                 354.00                   2.00                  15.68
                           353.00                 354.00                   1.00                  25.10
                           416.00                 418.50                   2.50                  11.75
                           417.30                 418.50                   1.20                  24.30

(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 shown uncapped. A capping factor of 60 g/t Au was used in the 2019 
resource estimate.
(3) Table includes only intercepts that meet five g/t Au cut-off and minimum mining width 
constraints used in the 2019 MRE.

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 four high-grade mineralized trends, located approximately 300 m, 600 m, 900 m and 1,200 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. The company is currently drilling a series of deeper holes below 950 m in trend No. 1 and 800 m in trend No. 2, in order to test high potential targets at depth in these sectors. 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. While trend No. 4 does not materially contribute to current resources, drilling thus far has traced mineralization to a vertical depth of 330 m.

Results released thus far from the continuing campaign cover a strike length of approximately 1.2 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.

116,000 m of drilling completed to date with results pending for approximately 34,000 m

This release represents approximately 5,391 m of drilling in 16 drill holes. Results are pending for approximately 34,000 m in 74 holes including 33 holes with visible gold occurrences. Released results to date (since the commencement of drilling in August, 2019) represent approximately 63 per cent of the 130,000 m planned thus far. The company remains well financed with approximately $11.0-million in cash as of Dec. 31, 2021.

                     Allocated     Drilled -- results     Drilled -- results
Zone                  drilling              published                pending    To be drilled
                           (m)                    (m)                    (m)              (m)

Trend 0                 18,300                  6,600                 11,700                0
Trend 1                 40,700                 27,900                  6,800            6,000
Trend 2                 38,500                 25,200                  4,300            9,000
Trend 3                 15,700                 10,200                  5,500                0
Trend 4/Eastern
Exploration             11,000                 11,000                      0                0
O'Brien West             5,700                      0                  5,700                0
Total                  129,900                 80,900                 34,000           15,000

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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