Radisson Mining Resources Inc. (TSX VENTURE:RDS)(OTC:RMRDF)
Press release highlights:
- This intersection is included in a wider mineralized envelope of 54 m grading 2.8 g/t Gold (see figure 1).
- Assays are pending for 21 drill holes completed in 2017 representing 12,000 metres of drilling.
- Specs of visible gold were observed in 2 exploration drill holes in the newly named Vintage zone (see figure 2).
Radisson Mining Resources Inc. (TSX VENTURE:RDS)(OTC:RMRDF) (“Radisson” or the “Company”) is pleased to announce additional results from the ongoing 20,000 m drill program at the Company’s O’Brien gold project located along the Larder-Lake-Cadillac (“L-L-C”) fault halfway between Rouyn-Noranda and Val-d’Or, Quebec. Hole OB-17-25W intersected 12.9 g/t Au over 8 metres within a wider interval of 54 metres grading 2.8 g/t Au. This wedge hole aimed the vertical continuity of hole OB-17-25 70 metres closer to surface, which as highlighted in May 9th, 2017 Press Release, returned 1.0 g/t Au over 93 metres. Radisson continues to confirm the presence of high-grade gold intercepts within wider lower grade mineralized envelopes on the 36E zone of the O’Brien deposit.
Since the last update, results have been received for eight resource expansion drill holes. The company is currently drilling hole OB-17-60. Assays are pending for 21 drill holes. 10 exploration drill holes and 11 resource expansion drill holes.
Mario Bouchard, President and CEO commented: “Current results continue to demonstrate the potential to expand known resources at the 36E and Kewagama zone. The fact that we continue to encounter high-grade gold mineralization in wider lower-grade envelopes at several depths could represent a game-changer for 36E. The newly named Vintage zone was first explored in the 80s and never followed upon. Via historical data compilation, the company established a number of high-priority exploration targets in this area of the O’Brien project. We aim to complete the 20,000 metres drill program in the coming weeks by focusing on resource expansion targets, while the company awaits results from its exploration drilling program completed this summer.”
Newly named Vintage zone exploration program
The Vintage zone is a parallel zone of the O’Brien project approximately located 85 metres north of the Larder-Lake-Cadillac fault in the Cadillac Group of meta-sediments comprising sequence of polymictic conglomerate, banded iron formation (BIF) and grauwacke. In comparison, current resources of 36E and Kewagama zones are located in the Piche Group, south of the L-L-C fault. Vintage zone saw small exploration work in the 80s, which were never followed upon. The company established several high-priority exploration drill targets through historical data compilation in this area. The first two drill holes that tested these targets were completed 65m along strike from each other. Specs of visible gold associated with multiple narrow quartz-sulfides (mostly arsenopyrite) veins were intersected in both holes. The new info added to the few available historical information helps to demonstrate the continuity and the favorable geometry of the Vintage zone. All intercepts remain open laterally and at depth. Results are currently pending and will be made available in the coming weeks.
Historical drill core re-logging and assaying
In light of the wide zones of mineralization recently intersected on 36E area, the company will review drill cores from a series of historical drill holes in the near-surface area of the 36E zone. After re-log, selected drill core will be sent for assaying. Prior to 2016, most of these holes have incomplete assay within the Piche group sequence. Only highly mineralized zones were assayed without paying attention to a possible wider low-grade envelope model.
Table 1 Drilling results summary at the O’Brien gold project
|OB-17-25W1||394.0||448.1||54.1||2.8||PICHE CENTRAL SEQUENCE (QFP’S, CONGLOMERATE AND VOLCANICS)|
|OB-17-38||46.2||61.5||15.3||1.1||PICHE VOLCANICS + QFP#1|
|*VG; Denotes presence of visible gold|
|**NSV; No significant value|
|Note; Results are presented as down hole width; true width are estimated between 55 to 70% 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 Swastika Laboratories Ltd, in Swastika, Ontario. 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.
Appointment of Jacques Lévesque as Chief Financial Officer
Radisson is pleased to announce the appointment of Jacques Lévesque, CPA, CA as Chief financial officer. M. Lévesque has been a CPA, CA and income tax specialist since 1971. From 1975 to 1988, he was an associate and the director of the income tax department of Maheu Noiseux, Abitibi-Temiscamingue. Since 1988, he is acting as an independent CPA, CA and income tax specialist and his principal occupation is the business financing and project manager. Mr. Levesque was a director of Orex Exploration Inc. from December 1991 to October 2007 and he was its president from March 1993 to October 2007. From December 2009 to May 2017, Mr. Levesque was a director and the Chief Financial Officer of Orex Exploration Inc., a junior exploration company listed on TSX Venture. Since May 19, 2017, Mr. Levesque is a director of Anaconda Mining Inc., a mining company listed on the Toronto Stock Exchange.
Mario Bouchard, President and CEO commented: “On behalf of Radisson, I would like to offer a sincere welcome to M. Lévesque. Jacques brings with him a wealth of experience in finance and exploration that will assist the company moving forward with its exploration and development plan for the O’Brien gold project. I also want to acknowledge the work completed by Donald Lacasse since 2007. We all recognize his unwavering commitment and the contribution he as brought to Radisson.”
Tony Brisson, P. Geo, independent consultant, 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 Quebec-based mineral exploration company. The O’Brien project, cut by the regional Larder-Lake-Cadillac Fault, is Radisson’s flagship asset. 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; InnovExplo, April 2015).
For more information on Radisson, visit our website at www.radissonmining.com.
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Forward-Looking Statements: This press release may contain certain forward-looking information. All statements included herein, including the scheduled Closing date, but other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. 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.
President and CEO