Radisson Mining Resources Inc. (TSX-V: RDS) (OTC: RMRDF) 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).
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.
“We are encouraged by results received so far. While still in the early stages of our exploration campaign at O’Brien, drilling to date has exceeded our expectations. All drill holes completed on 36E demonstrate strong vertical continuity of mineralization and highlight the potential for meaningful resource expansion/conversion. Most notable are the drill intercepts at the Lower 36E Zone including 16.76 g/t over 4.00 m, in hole OB-19-101, and the previously released 66.71 g/t over 4.70 m, in hole OB-19-92W2b, which strongly suggest a high-grade enrichment vector from 550 m to 850 m, similar to the structures previously mined at the O’Brien mine. In addition, hole OB-19-98 intersected 8.49 g/t over 2.00 m, 955 m below surface and 92 m west of hole OB-19-92W2b, highlighting the potential for mineralization to extend laterally and even deeper. Most importantly, results continue to validate our new geological interpretation and have increased our confidence in multiple high potential targets, which we expect to drill-test over the coming months.
Our current cash position of approximately $8.5M puts us in a strong position to significantly expand the ongoing 20,000 m program, more details will be provided in coming weeks. Results to date have reaffirmed our confidence in the new geological model and resource growth potential at O’Brien. Over the coming months, we look forward to a steady stream of exploration updates that we believe will help demonstrate the O’Brien project’s true potential and unlock significant value for our shareholders,” commented Mario Bouchard, President and CEO.
Notable drill holes (see table companying press release for details):
Lower 36E Zone, below 550 m
Hole OB-19-101: Multiple intercepts including,
Upper 36E Zone, above 550 m
Hole OB-19-100: Multiple intercepts including,
Lower 36E Zone (below 550 m) Exploration
Drilling undertaken to date at the Lower 36E zone suggests good vertical continuity to mineralization below 550 m (vertical depth). Hole OB-19-101 intersected 16.76 g/t Au over 4.00 m at a vertical depth of 667 m and approximately 178 m vertically above a previously released intercept from Hole OB-19-92W2b which returned 66.71 g/t over 4.70 m at a vertical depth of 845 m. In addition, a deeper hole OB-19-98 returned 8.49 g/t over 2.00 metres at a vertical depth of 955 m. Although additional drilling will likely be required to establish the resource potential and depth extension at the 36 E Zone, results so far suggest the potential for a high-grade mineralized vector between 550 m and 955 m which remains open at depth.
After completing drill hole OB-19-101w1, drill rig number 1 was moved approximately 200 m to the east to focus on a potential second high-grade mineralized vector. This target is located near an 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 Upper 36E.
Upper 36E Zone (above 550 m) Exploration
Infill drill hole OB-19-100 completed in the resource area, intersected 11.13 g/t Au over 3.30 m, and 6.36 g/t Au over 2.10 m, respectively at 201.70 m and 212.20 m core length. This drill hole also intersected 48.70 g/t Au over 0.50 m, in the Pontiac sediments at 131.50 m core length. Assays are pending for a number of holes drilled in the Upper 36E zone.
Vintage and Kewagama Zones
Drill holes on the Vintage Zone are aimed on exploration targets. To date, drill rig number 2 has completed 4 holes that were directed on the possible extensions of previously intersected gold structures. Visible Gold has been encountered in 1 drill hole currently being drilled. After completion, this drill rig will focus on resource expansion and conversion targets for the remaining of the drill program.
Fully funded to expand current drill program
Drilling results and pending assays
|19-98||1 051.10||1 054.10||3.00||5.98||Lower 36E||Graywacke (Piché)|
|Including||1 052.10||1 054.10||2.00||8.49||Lower 36E||Graywacke (Piché)|
|and||1 051.10||1 052.10||1.00||0.97||Lower 36E||VG*|
|OB-19-99||–||–||–||–||36E Infill||Used for geotechnical characterisation|
|OB-19-100||131.50||132.00||0.50||48.70||36E Infill||Graywacke (Pontiac)|
|OB-19-100||201.00||206.00||5.00||7.72||36E Infill||Conglomerat (Piché)|
|OB-19-100||212.20||214.30||2.10||6.36||36E Infill||Porphyry (Piché)|
|OB-19-100||248.60||249.30||0.70||11.15||36E Infill||Basalt (Piché)|
|OB-19-101||768.00||770.00||2.00||5.25||Lower 36E||Porphyry (Piché)|
|OB-19-101||788.00||792.00||4.00||16.76||Lower 36E||Porphyry (Piché)|
|OB-19-101||810.70||813.20||2.50||4.00||Lower 36E||Basalt (Piché)|
|OB-19-101W1||–||–||354.00||–||36E Infill||Assays pending VG*|
|OB-19-102||–||–||399.00||–||36E Infill||Assays pending|
|OB-19-103||–||–||499.00||–||36E Infill||Assays pending|
|OB-19-104||–||–||578.00||–||36E Infill||Assays pending VG*|
|OB-19-105||–||–||672.00||–||F Zone||Assays pending VG*|
|OB-19-106||–||–||648.00||–||36E Infill||Assays pending VG*|
|OB-19-107||–||–||831.00||–||F Zone||Assays pending|
|OB-19-109||–||–||531.00||–||36E Infill||Assays pending|
|OB-19-111||–||–||663.00||F Zone||Assays pending VG*|
|OB19-111W1||657.00||F Zone||Assays pending VG*|
|OB-19-113||–||–||1 400.00||–||Lower 36E||In progress|
|OB-19-114||–||–||625.00||–||Vintage||Assays pending VG*|
*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.
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 program.
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).
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