Drilling at O’Brien continues to deliver high-grade gold intercepts highlighting resource expansion potential at depth and within the current resource area
Deep drilling highlights: 23.57 g/t over 2.60 m, 22.17 g/t over 1.80 m and 14.30 g/t over 2.00 m
Infill drilling highlights: 26.42 g/t over 2.05 m and 13.67 g/t over 2.25 m
Results continue to validate the 2019 litho-structural modelROUYN-NORANDA, Quebec, Feb. 06, 2020 (GLOBE NEWSWIRE) — Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF): (“Radisson” or the “Company”) today announced significant high-grade Gold intercepts from the 20,000 m exploration drill program underway at its O’Brien gold project located along the Larder-Lake-Cadillac Break halfway between Rouyn-Noranda and Val-d’Or in Quebec, Canada. (See figure 1 and 2).The ongoing 20,000 m drill program, announced in August 2019, represents the company’s first exploration program to test targets defined by the new litho-structural model (released February 2019). A key objective of the first round of drilling was to further validate the model and better define high potential targets for resource expansion and conversion.See O’Brien Longitudinal Section and Lower 36E longitudinal section“Drilling at O’Brien continues to deliver excellent results that continue to demonstrate the continuity of high-grade mineralization within and outside the current resource area. Our primary focus so far has been the 36E Zone, where we are pleased to report an over 90% success rate with most holes returning multiple high-grade intercepts over economic widths. We believe this is a testament to our robust litho-structural model that has proven to be quite accurate in predicting high-grade mineralization. “We continue to be very encouraged by results from the Lower 36E Zone following up on high-grade intercepts released on October 29, 2019 and January 17, 2020. Results from newly released holes OB-19-107 (23.57 g/t Au over 2.60 m) and OB-19-106 (14.30 g/t over 2.00 m and 22.17 g/t Au over 1.80 m) demonstrate strong continuity below the current resource and within what appears to be a high grade enrichment vector from 550 m to 850 m. “Results to date have reaffirmed our confidence in the geologic model and the resource growth opportunity at O’Brien. Approximately 17,780 m of drilling has been completed so far (assays pending for 4,000 m. approx.). While results so far have exceeded our expectations, we look forward to increasing the pace of drilling in the coming months to complete up to 60,000 m by the end of 2020. In the coming months, we look forward to regular exploration updates that we believe will serve as additional catalysts to confirm the significant resource potential at the O’Brien project.” commented Mario Bouchard, President and CEO. Notable drill intercepts (see table accompanying press release for details): Lower 36E Zone (below 550 m)Hole OB-19-107:23.57 g/t over 2.60 m from 711.0 m core length with visible gold, within a broader mineralized interval of 8.29 g/t Au over 9.00 m.Hole OB-19-106: Multiple intercepts including,14.30 g/t Au over 2.00 m from 615.75 m core length;22.17 g/t Au over 1.80 m from 634.90 m core length with visible gold (see photo).Upper 36E Zone (above 550 m)Hole OB-19-109: Multiple intercepts including,13.67 g/t Au over 2.25 m from 426.75 m core length including visible gold7.79 g/t Au over 4.00 m from 511.00 core length, including 10.20 g/t over 2.00 m.Upper F Zone, above 550 mHole OB-19-111: Multiple intercepts including,26.42 g/t Au over 2.05 m from 608.80 m core length;8.91 g/t Au over 2.00 m from 641.20 m core length.Lower 36E Zone Exploration (below 550 m) Drilling so far demonstrates strong continuity within a potential high-grade mineralized vector from 550 – 955 m (vertical depth). Mineralization at the Lower 36E zone remains open along strike and laterally to depths below 955 m.Hole OB-19-107 intersected 23.57 g/t over 2.60 m at an approximate vertical depth of 700 m and 100 m west of previously released intercept, 16.76 g/t over 4.00 m (hole OB-19-101). The drill rig no.1 is now focused on a potential second high-grade mineralized vector approximately 200 m to the east. This target is located near a historical drill hole that returned 17.46 g/t Au over 1.00 m at 1,120 m vertical depth. This historical drill hole highly correlates to an enrichment vector, and one of the main zones defined in current resources on the Upper 36E Zone.Upper 36E Zone and Upper F zone Exploration (above 550 m) Drilling within the resource area continues to return positive results suggesting the potential for resource conversion/expansion above 550 m.Infill drill hole OB-19-109 completed in the resource area on upper 36E, intersected 13.67 g/t Au over 2.25 m, and 7.79 g/t Au over 4.00 m, respectively at 426.75 m and 511.00 m core length. Infill drill hole OB-19-111 completed in the F Zone, intersected 26.42 g/t Au over 2.05 m, and 8.91 g/t Au over 2.00 m, respectively at 608.80 m and 641.20 m core length.Fully funded to expand current drill programTo date 26 drill holes have been completed for a total of 17,780 m, assays are pending for 4,000 m of drilling in 6 drill holes of which 2 contained visible gold.
With approximately $8.2M1 in treasury, Radisson is fully funded to complete and expand the ongoing 20,000 m drill program. Further drill plans are expected to be finalized in the near future based on results from the ongoing program.
1 Estimated as at February 3rd, 2020. Drilling results and pending assays
*VG; Denotes presence of visible gold
Results are presented as down hole width; true widths are estimated between 70 to 80% of down-hole thickness.QA/QC
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, Quebec. Samples yielding a grade higher than 5 g/t 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, P. Geo, 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% 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 21,000,000 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 tons at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957; Kenneth Williamson 3DGeo-Solution, July 2019). For more information on Radisson, visit our website at www.radissonmining.com or contact:On behalf of the board of directorsMario Bouchard
President and CEO, directorFor more information on Radisson, visit our website at www.radissonmining.com or contact:
Certain information contained in the press release are subject to receipt of all regulatory approvals. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking StatementsAll statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the intended use of proceeds of the Offering, the development of the O’Brien project and generally, the above “About Radisson Mining Resources Inc.” paragraph which essentially describes the Corporation’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements and future events, could differ materially from those anticipated in such statements. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward looking information can be found in Radisson’s disclosure documents on the SEDAR website at www.sedar.com. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s endeavours to develop the O’Brien project and, more generally, its expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.Hubert Parent-Bouchard
Director, Corporate development