Radisson Mining Resources Inc. (TSX-V: RDS, OTCQB: RMRDF)(“Radisson” or the “Corporation”) is pleased to provide a 2025 outlook and exploration & development plan for the Company’s 100%-owned O’Brien Gold Project (“O’Brien” or the “Project”) located in the Abitibi region of Québec.
Matt Manson, President and CEO, commented: “In 2025 we are planning a comprehensive and fully funded exploration and project development program at O’Brien to understand the potential scope of the Project, and significantly advance it towards development. This program includes drilling focussed on the extension of gold mineralization at the Project to depth, building on the impressive deep results achieved at the tail end of 2024. Our drilling will be complemented by surface trenching and stripping, and a program to delineate the extension to surface of the famous O’Brien “Jewellery Box” zone, recently rediscovered by Radisson drilling. In development work, we expect to shortly conclude the metallurgical studies and milling assessment currently ongoing under a Memorandum of Understanding (“MOU”) with IAMGOLD Corporation and based on the nearby Doyon mill. We contemplate commencing a companion Preliminary Economic Assessment (“PEA”) for O’Brien, based on utilizing the Doyon mill, upon the successful completion of this preliminary technical work. This year will also see an increased focus on baseline environmental studies at O’Brien, and community engagement, as a future potential O’Brien mining operation comes into focus. We see O’Brien as a low cost, small footprint and high margin mining operation with significant exploration upside and developed within a hub-and-spoke mining and milling arrangement characteristic of gold mining in the Abitibi. Our 2025 work plan has been developed with this clear strategy in mind.”
A total exploration budget of approximately C$6.8M has been established for 2025, including all drilling and assay costs, surface stripping and trenching, personnel, permitting costs and site support. This will be fully funded from Radisson’s existing treasury.
Details of the 2025 work program are as follows:
1. 22,000 Metres of Exploration Drilling
Radisson’s 2025 exploration drilling at O’Brien will focus on expanding the scope of known mineralization below the existing mineral resources. In December 2024, Radisson released the results of the deepest hole ever drilled at the Project and the first hole drilled directly below the historic O’Brien Mine workings. Sheared, altered and mineralized rocks of the Piché Group, the dominant host rocks for O’Brien gold mineralization, were intersected at approximately 1,500 metres vertical depth, 500 metres below previous drilling, and returned 242.0 grams per tonne (“g/t”) gold (“Au”) over 1.0 metre within a mineralized interval that averaged 31.24 g/t Au over 8.0 metres. In September 2024, Radisson intersected 27.61 g/t Au over 6.0 metres including 102.0 g/t Au over 1 metre at 1,100 metres vertical depth, 170 metres below previous drilling (see Figure 1). Radisson believes that these results demonstrate the continuation of the O’Brien mineralizing system well below the base of the March 2023 Mineral Resource, which is defined to a maximum vertical depth of 900 metres. Approximately 75% of the existing mineral resource is defined to a depth of only 600 metres.
The 2025 exploration program will incorporate wedges and directional drilling from deep pilot holes. An initial 22,000 metres have been planned, and an expansion of the program in the second half of the year will be assessed based on the initial results achieved.
Figure 1: Long Section in Oblique View of Gold Vein Mineralization and Mineral Resources at the O’Brien Gold Project, with recent deep drilling results.
2. Exploration for the O’Brien Jewellery Box, including Surface Stripping and Trenching
In addition to the deep exploration program, Radisson plans a program of shallower drilling and surface exploration to trace the location of the famous O’Brien “Jewellery Box” zone. In December 2024, Radisson announced the likely rediscovery of the Jewellery Box, an historic mining stope believed to be the source of extremely high-grade and museum quality gold samples, with a drill intercept of 643.1 g/t Au over 2.1 metres, including 1,345.0 g/t Au over 1.0 metre. This program will attempt to trace the Jewellery Box from 200 metres depth, where it was last mined, to the surface, including stripping of surface overburden. Delineation of the Jewellery Box zone could offer an extremely high-grade mining area to be exploited early in the development of a future O’Brien mine.
Radisson also plans a 1.1 kilometre program of trenching across the breadth of the O’Brien property designed to expose Piche Rocks adjacent to the Cadillac-Larder Lake Break over an approximate strike length of 4 kilometres, extending from west of the historic O’Brien mine to the eastern boundary of the current property. The purpose of this trenching program is to identify additional areas of exploration potential for future drilling, and to observe directly the geological setting of O’Brien gold mineralization.
3. Completion of Metallurgical and Milling Assessment, and PEA
In September 2024, Radisson entered into an MOU with IAMGOLD Corporation to assess the design criteria for processing mined material from O’Brien at the nearby Doyon gold mill, part of IAMGOLD’s Doyon-Westwood mine complex. The Doyon mill is located 21 kilometres west of O’Brien directly accessible along Trans-Canada Highway 117. The work has included metallurgical studies, an assessment of flow-sheet configurations at Doyon and potential mill modifications, and a review of future processing and tailings disposal capacity at Doyon. The results of this work are expected to be concluded and reported shortly. The MOU facilitates the exchange of technical data between Radisson and IAMGOLD Corporation and is non-binding and non-exclusive. It contains no specific terms around potential commercial arrangements between the parties, and there is no certainty that any arrangement between the parties will result from their dealings pursuant to the MOU. However, Radisson contemplates further discussions with IAMGOLD, and a companion O’Brien PEA, upon the successful completion of this preliminary technical work.
4. Expanded Environmental Baseline Assessment and Community Engagement
The 2025 work program will include an increased focus on environmental baseline data collection and community engagement, based on the strategy of developing O’Brien as a low-footprint, underground mining operation without a stand-alone processing or tailings storage facility, and utilizing existing road and power infrastructure. In addition to the Project’s ground water sampling program, which has been ongoing for several years, Radisson has retained the services of BBA Inc. to commence a baseline monitoring program for noise, vibration and ambient air quality at the O’Brien site.
Radisson will also increase its focus on community engagement and communication, based on the municipalities immediately adjacent to the Project and First Nations groups within the Abitibi-Témiscamingue region.
Qualified Person
Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Mr. Richard Nieminen, P.Geo, (QC), a geological consultant for Radisson and a Qualified Person for purposes of NI 43-101. Mr. Nieminen is independent of Radisson and the O’Brien Gold Project.
Radisson Mining Resources Inc.
Radisson is a gold exploration company focused on its 100% owned O’Brien Gold Project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. The Bousquet-Cadillac mining camp has produced over 25 million ounces of gold over the last 100 years. The Project hosts the former O’Brien Mine, considered to have been Québec’s highest-grade gold producer during its production. Indicated Mineral Resources are estimated at 0.50 million ounces (1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources estimated at 0.45 million ounces (1.60 million tonnes at 8.66 g/t Au). Please see the NI 43-101 “Technical Report on the O’Brien Project, Northwestern Québec, Canada” effective March 2, 2023, Radisson’s Annual Information Form for the year ended December 31, 2023 and other filings made with Canadian securities regulatory authorities available at www.sedar.com for further details and assumptions relating to the O’Brien Gold Project.
For more information on Radisson, visit our website at www.radissonmining.com or contact:
Matt Manson
President and CEO
416.618.5885
mmanson@radissonmining.com
Kristina Pillon
Manager, Investor Relations
604.908.1695
kpillon@radissonmining.com
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Forward-looking statements including, but are not limited to, statements with respect to planned and ongoing drilling, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the ability to incorporate new drilling in an updated technical report and resource modelling, the Company’s ability to grow the O’Brien project and the ability to convert inferred mineral resources to indicated mineral resources. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements Forward-looking information is based on estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the drill results at O’Brien; the significance of drill results; the ability of drill results to accurately predict mineralization; the ability of any material to be mined in a matter that is economic. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company believes that this forward-looking information is based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. These statements speak only as of the date of this news release.
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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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