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Radisson Mining Resources Inc (2)
Symbol RDS
Shares Issued 207,796,326
Close 2020-10-14 C$ 0.375
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Radisson drills 21.1 m of 6.89 g/t Au at O'Brien

2020-10-14 06:38 ET - News Release

Mr. Mario Bouchard reports

DRILLING AT O'BRIEN INTERSECTS 6.89 G/T AU OVER 21.10 M INCLUDING 11.32 G/T OVER 11.80 M, 250 M BELOW DEFINED RESOURCES ON THE SECOND MINERALIZED TREND

Radisson Mining Resources Inc. has released significant high-grade gold intercepts from the continuing 60,000-metre exploration drill program at its O'Brien gold project located along the Larder-Lake-Cadillac break, halfway between Rouyn-Noranda and Val d'Or in Quebec, Canada.

Highlights

Stepout drilling highlights resource growth potential 250 metres below currently defined resources on the second mineralized trend (600 m east of the old O'Brien mine):

  • Hole OB-20-156 intersected 6.89 grams per tonne gold over 21.10 m including:
    • 4.81 g/t gold over 2.00 m (760 m vertical depth);
    • 11.32 g/t Au over 11.80 m (775 m vertical depth), which includes:
      • 38.11 g/t Au over 2.10 m;
      • 20.39 g/t Au over 2.30 m.
  • OB-20-156 represents the deepest hole drilled to test the second trend as part of the continuing drill campaign and appears to have intersected at least three distinct high-grade mineralized structures almost 250 m below the boundary of current resources in the area.
  • The intercepts were obtained 355 m down plunge from a previously released intercept grading 8.35 g/t Au over 6.00 m (hole OB-20-124).
  • Current resources in this area are largely limited to a vertical depth of 400 m. Drilling so far suggests continuity of mineralization to a vertical depth of almost 700 m based on today's results as well as previously released holes OB-20-124 and OB-19-106 (14.30 g/t Au over 2.00 m and 22.17 g/t over 1.80 m).
  • In addition, results from the continuing campaign appear to tie in with high-grade resources above 400 m, and within a high-grade mineralized trend that could possibly extend further to approximately 1,100 m where a deeper historical intercept returned 17.46 g/t over 1.00 m.
  • Assays are pending for wedge holes OB-20-156W1, OB-20-156W2 and additional drill holes completed with the objective of exploring the down-plunge continuity and expanding current resources in the area.

Deep drilling on the first mineralized trend (300 m east of the old O'Brien mine) intersects mineralized structures including visible gold approximately 400 m below the current resource boundary:

  • Assays are pending for recently completed hole OB-20-174, which intersected targeted mineralized structures from 915 m to 1,070 m vertical depth, including visible gold at 960 m vertical depth, representing 360 m below the boundary of defined resources on the first mineralized trend (see visible gold in hole OB-20-174).
  • Resources defined in the first mineralized trend are limited to 600 m vertical depth, previously released results suggest continuity of high-grade mineralization below the resource boundary down to a depth of 950 m vertical depth, and in an area extending 300 m laterally and 350 m vertically.
  • Two wedge holes are planned with the objective of testing the continuity of mineralization above and to the east of OB-20-174.
  • Visible gold in hole OB-20-174 was obtained 130 m below the previously released intercept of 66.71 g/t Au over 4.70 m obtained in hole OB-19-92w2b.
  • Recent results have also demonstrated the potential to laterally expand mineralization in the first mineralized trend to the east and west. This includes 45.33 g/t over 2.20 m (OB-20-148W1) in addition to a number of holes that intersected visible gold in mineralized structures and for which assays are pending (OB-20-164, OB-20-167, OB-20-168 and OB-20-170).

Drilling at O'Brien continues to validate the litho-structural 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 the first trend, drilling has highlighted continuity of mineralization down to a vertical depth of 950 m, approximately 350 m below the boundary of resources that are limited to a vertical depth of 600 m.
    • In the second trend, drilling has highlighted continuity of mineralization down to a vertical depth of 700 m, approximately 300 m below the boundary of resources that are mostly within 400 m from surface.
    • In the third trend, drilling has traced mineralization down to 500 m vertical depth from surface. Currently defined resources are mostly confined to between surface and 240 m vertical depth.
  • 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 five km of prospective strike that Radisson controls along the Cadillac break.

52,500 m of drilling completed to date with assays pending for approximately 15,600 m:

  • Released results to date (since the commencement of drilling in August, 2019) represent only 62 per cent of the total planned 60,000 m program.
  • The company is financed to expand the program to over 75,000 m.

"Today's results highlight why our ongoing drilling program is in its most exciting phase, as we continue to systematically step out to expand mineralization at O'Brien along strike and at depth. Assays from OB-20-156 represent some of the best results received since the start of the drill program and suggest the potential to expand resources within the second mineralized trend. In addition, we eagerly look forward to assays from OB-20-174, which intersected visible gold in the Piche volcanics, the targeted lithologies, well below the resource boundary of the first mineralized trend.

"While the majority of our work program 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," commented Mario Bouchard, chief executive officer.

                             NOTABLE DRILL RESULTS
 
Hole                       From         To      Core length (1)     Au uncut (2)
                            (m)        (m)                  (m)            (g/t)

OB-20-156                778.00     799.20                21.20             6.89
including                778.00     780.00                 2.00             4.81
and                      787.40     799.20                11.80            11.32
including                787.40     789.50                 2.10            38.11
which includes           788.50     789.50                 1.00            68.10
and                      796.90     799.20                 2.30            20.39
which includes           797.80     799.20                 1.40            32.40

(1) This is core length or downhole width. True widths are estimated at 70 per 
cent to 80 per cent of downhole width. To the extent possible, primary 
intercepts reflect minimum mining width (1.5 m true width) and consistent with 
assumptions used in the 2019 resource estimate.
(2) Assay grades are shown uncapped. A capping factor of 60 g/t Au was used in 
the 2019 resource estimate.

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 Laboratory Ltd., 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 and blank samples were inserted prior to shipment for quality assurance and quality control (QA/QC) program.

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 past 100 years.

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