ROUYN-NORANDA, QUEBEC--(Marketwired - Feb. 14, 2017) - Radisson Mining Resources Inc.(TSX VENTURE:RDS) ("Radisson") is pleased to provide an update on the exploration program at it's 100% owned O'Brien gold project located in the heart of the Cadillac mining camp along the Larder-Lake-Cadillac fault in Quebec, Canada.
Since the last update on December 5th, 2016 (see press release), assay results have been received for three holes.
- Drill hole OB-16-15 intersected 5.0 g/t Au over 6.0 m; this intercept occurs 100 metres up-dip of intercept which ran hole 5.0g/t Au over 5.0 m in hole OB 16-12 and 25 metres west of the currently defined resource envelope of the 36E Area (see figure 1).
- Drill hole OB-16-15 also intersected 4.9 g/t Au over 1.5 m in the Cadillac sediments, north of the Cadillac Fault (see figure 2).
- Drill hole OB-16-17 intersected 11.5 g/t Au over 0.6 m at a depth of 125 metres in the Pontiac Group sedimentary package south of current mineral resources (see figure 2).
Mario Bouchard, President and CEO commented: "We are very excited with the results obtained in the current exploration program, as we continue to encounter mineralization outside of the existing resource, as for example, in the "F Zone". The synergies derived from the ongoing historical data compilation exercise combined with insights gleaned from the ongoing drilling program will help drive our exploration program. The upside has never looked better on this property which was mined from 1926 to 1957; finding gold in multiple host rock types - to the west, north, and south of the existing resource - is a potential game changer."
Drill program expanded to 20,000 metres
Given the positive results obtained during the 2016-2017 drilling campaign the company has decided to expand the ongoing drilling program to 20,000 m.
One drill rig is currently operating at the O'Brien project and completing step-out and shallow depth extension drilling on the F Zone, 36E and Kewagama areas. The company will mobilize a second drill rig on the property by the end of March. With results obtained in the Pontiac Group and Cadillac Group sediments the expanded drilling program will include shallow depth extension drilling and also exploration drilling on numerous high priority targets generated from our historic data compilation program, "Orevision IP" (induced polarization) survey and the 2016-2017 drilling program.
Geophysics survey and historic data compilation
Earlier in January, the company received results from Abitibi geophysics Inc.'s "Orevision IP" survey completed on the southern portion of the O'Brien property. Multiple high priority targets were defined in the Pontiac Group sediments, south of the current and historical resources. Simultaneously, Radisson is advancing a historic data compilation program at the O'Brien project, which it expects to complete by the end of March. These initiatives will potentially allow the company to identify additional high priority exploration drill targets outside of current resources.
2016 step-out drilling and ore shoot extension results summary (see figure 1)
- 3.0 metres grading 16.2 g/t gold including 1.0 metre grading 44.7 g/t gold (See OB 16-7)
- 2.5 metres grading 20.2 g/t gold including 0.5 metre grading 93.7 g/t gold (See OB 16-14)
- 1.4 metres grading 17.6 g/t gold including 0.5 metre grading 44.2 g/t gold (See OB 16-5)
- 16.0 metres grading 3.0 g/t gold including 5.0 metres grading 5.0 g/t gold (See OB 16-12)
- 6.0 metres grading 5.0 g/t gold (See OB 16-15)
- 2.0 metres grading 3.0 g/t gold (See OB 16-3)
- 7.0 metres grading 3.1 g/t gold (See OB 16-4)
- 1.0 metre grading 5.0 g/t gold (See OB 16-5)
- 2.0 metres grading 5.9 g/t gold (See OB 16-8)
2016 drill results in Pontiac and Cadillac Sedimentary group (see figure 2)
- 1.5 metres grading 10.0 g/t gold (See OB 16-13)
- 1.0 metre grading 12.8 g/t gold including 0.5 metre grading 23.8 g/t gold (See OB 16-3)
- 2.0 metres grading 8.6 g/t gold (See OB 16-10)
- 3.0 metres grading 6.3 g/t gold (See OB 16-14)
- 0.6 metre grading 11.0 g/t gold (See OB 16-5)
- 0.6 metre grading 11.5 g/t gold (See OB 16-17)
- 2.0 metres grading 4.3 g/t gold including 1.0 metre grading 6.2 g/t gold (See OB 16-5)
- 1.5 metres grading 10.0 g/t gold (See OB 16-13)
Note; Results are presented as downhole width; true widths are estimated to be between 55 to 70% of downhole thickness.
All drill cores in this campaign are NQ in size. Analyses were completed on sawn half-cores, with the second half kept for future reference. The samples were analyzed using standard fire assay procedures with AA finish at Techni-Lab Actlabs in Ste-Germaine-Boulé in Abitibi, 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.
Finally, Radisson would like to announce the resignation of Marianna Simeone as a director of the company. Marianna Simeone has been a valuable member of the Board of Directors since 2015. The Company would like to thank Ms. Simeone for her valuable contribution as a director and wishes her well in her future endeavours.
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).
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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.