8.35 g/t Au over 6.00 m, approx 300 m east of the 36E Zone, an area largely untested below 400 m
13.86 g/t Au over 2.10 m at the western margin of resources in the F ZoneROUYN-NORANDA, Quebec, June 01, 2020 (GLOBE NEWSWIRE) — Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF): (“Radisson” or the “Company”) is pleased to announce significant high-grade gold intercepts from the ongoing 60,000 m 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 (See figure 1 and 2). As announced previously, the program resumed on May 11th, after having paused on March 24th, in response to Government of Quebec orders related to the COVID-19 pandemic.“Drilling at O’Brien has continued to deliver excellent results. The initial part of our program was successful in demonstrating strong continuity of high-grade mineralization in the 36E and F zones down to a depth of 950 m, and within a mineralized trend similar to that historically mined at O’Brien. This area remains a high priority target for us, with assays pending for holes OB-19-98W1 and OB-19-98-W2, which intersected visible gold in mineralized zones to the west of and above a previously released intercept of 66.71 g/t over 4.70 m.We are also pleased that recent drilling has demonstrated the potential for a second mineralized trend to the east, largely untested below 400 m. In particular, hole OB-20-124 returned 8.35 g/t Au over 6.00 m (incl. 10.33 g/t over 3.00 m) intersecting what appears to be a high-grade structure in a largely untested area, and highlighting a potential second steeply dipping trend approximately 300 m east of the high-grade trend defined in the 36E Zone.In addition, OB-19-111W2 intersected 13.86 g/t Au over 2.10 m (incl. 41.00 g/t Au over 0.70 m), 45 metres below a previously released intercept of 26.42 g/t Au over 2.05 m (in hole OB-19-111), both intercepts near the western boundary of resources defined in the F Zone. These holes, along with historical high-grade intercepts highlight an opportunity to add resources in the gap between current resources and the old O’Brien mine.Results released so far represent only ~35% of our planned 60,000 m program and we look forward to further drilling these high potential areas in the coming weeks. With results continuing to validate our litho-structural model, we are increasingly confident we can meaningfully grow resources with upcoming drilling in what appears to be a target-rich environment. We are pleased to have our exploration team onsite at O’Brien again, to resume our fully funded drill campaign and look forward to releasing additional results in the coming weeks.” commented Mario Bouchard, President and CEO.See O’Brien project longitudinal vertical section looking northExploration highlights – 36E and F ZonesZone 36E Exploration Highlights – Expansion opportunities to the eastHole OB-20-124 returned 8.35 g/t Au over 6.00 m from 460.00 m core length (vertical depth of 430 m)° Intersected high-grade structures in a sparsely drilled area
° Highlights potential second high-grade mineralized trend 300 m east of the high-grade trend at the 36E Zone, open at depth
° Opportunity to expand high-grade resources, which are currently limited below 400 m.Hole OB-20-118 returned 15.47 g/t Au over 2.00 m from 238 m core length (vertical depth of 190.00 m) and 5.58 g/t Au over 2.00 m from 364.00 m core length (vertical depth of 300 m)° Intersected mineralized structures (including visible gold occurrences, see photo 1 and 2) above and to the east of OB-20-124 intercepts that appear to be part of the same trendSee Second mineralized trend highlighted by OB-20-124 and OB-20-118Results from hole OB-20-124, in conjunction with other recent results, appears to be defining a second high-grade steeply dipping mineralized trend located approximately 300 m east of the high-grade trend intersected by drilling down to a vertical depth of 950 m on 36E and F zones. While resources in this area are largely limited to the upper 400 m, results from the ongoing campaign indicate a trend that links above high-grade resources up to 175 m further down plunge. These results include the one from OB-20-124 published today, as well as 14.30 g/t Au over 2.00 m and 22.17 g/t Au over 1.80 m (Hole OB-19-106). There are indications that the trend could extend deeper to 1,100 m where a historical intercept returned 17.46 g/t Au over 1.00 m. A recent deeper hole OB-20-113 drilled down to approximately 1,300 m intersected the same structures but missed the intended target since it deviated at depth. Overall results to date suggest strong exploration potential below 400 m for this sector and additional drilling is planned in the coming weeks.Hole OB-20-118 intersected multiple zones including 15.47 g/t Au over 2.00 m from 238 m core length in the Pontiac sediments and 5.58 g/t Au over 2.00 m from 364.00 m core length in the Piché Group. Zones modeled in the Pontiac sediments appear to tie up with NNE faults and the geological model has shown great accuracy at predicting the vertical and lateral extension of those zones, in addition to the main targeted areas. In addition, visible gold was seen in two intercepts including one in the Piché Group, which also appears to be part of the same trend.F Zone Exploration Highlights – Expansion opportunities to the westHole OB-19-111W2 returned multiple intercepts, including° 10.10 g/t Au over 0.50 m from 598.80 m core length (vertical depth of 530.00 m) with visible gold showing (see photo) at 599.0 m
° 8.23 g/t Au over 2.20 m from 608.10 m core length (vertical depth of 535.00 m)
° 13.86 g/t Au over 2.10 m from 652.90 m core length (vertical depth of 580.00 m), including 41.00 g/t Au over 0.70 m, from 654.30 to 655.00 m representing last received assay in sequence with assays pending from 655.00 m to 657.00 mNear the western boundary of Inferred resources in the F-Zone and 45 m below previously released intercept of 26.42 g/t Au over 2.05 m (in hole OB-19-111).These holes, along with high-grade historical intercepts outside the resource boundary highlight resource growth potential to the west (gap between the F-Zone and the old O’Brien mine).Hole OB-19-111W2 returned 41.00 g/t Au over 0.70 m with the last assay. The results of the remaining two metres of this hole are pending. The gap area between the old O’Brien Mine and the F-Zone does not materially contribute to the current resource estimate and remains open below 250 m. The high-grade intercepts in holes OB-19-111 and OB-19-111W2 were near the western boundaries of inferred resource blocks in the F-Zone. These results along with a few historical intercepts (not included in the current resource), suggest the potential to add high-grade resources in this area, which remains largely untested. Additional drilling is planned in this gap representing a strike length of approximately 200 m that has no resources below 250 m. Additional drill targets are being refined on this sector and will be addressed in coming months.Lower 36E Zone (below 600 m) Exploration – Continued focus on resource expansion; Assays pendingOne drill rig is currently active on the Lower 36E area, which remains a high priority target for resource expansion. While current resources are largely limited to 600 m vertical depth, deeper drill holes including OB-19-92W2b (66.71 g/t over 4.70) and OB-19-98 (8.49 g/t over 2.0 m) have highlighted the potential for a high-grade mineralized trend down to a depth of 950 m. Assays are pending for two wedge holes drilled to establish continuity of high-grade mineralization and to target resource growth in this area. Holes with assays pending include OB-19-98-W1, which intersected visible gold (see photo) within a mineralized zone in the targeted structures, 75 m west of OB-19-92W2b and 100 m above OB-19-98. Assays are also pending for OB-19-98W2, which intersected significant visible gold within a smoky quartz vein (see photo 1 and photo 2), approximately 75 m above OB-19-98-W1 and a similar distance (85m) below previously announced intercept of 16.76 g/t over 4.00 m (OB-19-101). An additional wedge hole is currently being drilled from OB-19-98, to be followed up with a possible fourth wedge. Following completion of these wedges, additional drilling is planned to the west below previously released hole OB-19-107 that returned 23.57 g/t over 2.60 m (within a broader intercept of 8.29 g/t over 9.00 m). With mineralization open for expansion at depth below 950 m and along strike to the east/west, the company expects this highly prospective area to remain a key focus of exploration in the coming months.See high-grade mineralized trend (Lower 36E and F Zone)Vintage Zone Exploration HighlightsThe Vintage zone is parallel to the more advanced zones at the O’Brien project located approximately 85 meters north of the Cadillac Break in the Cadillac Group. The Vintage Zone has seen less drilling historically and its contribution to the current resource estimate is small. A s part of this program, a total of 3,153 m of drilling has been drilled at the Vintage zone aimed at better understanding the geology and collecting information to refine the model. A number of known mineralized zones/structures were intersected and their continuity was demonstrated. Additional drilling will likely be required in the future to better understand this area and the resource potential.
Fully funded for the completion of the 60,000 m program (35,000 m left to complete)To date 46 drill holes have been completed for a total of 24,527 m, assays are pending for 3,663 m of drilling in 12 drill holes including two wedge holes that intersected visible gold on the Lower 36E area.With approximately $6.6m in treasury, Radisson is fully funded to complete the remaining portion of the 60,000 m drill program.
1 Estimated as at May 20, 2020. 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:Hubert Parent-Bouchard
Director, Corporate development
819-763-9969
[email protected]
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.
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