Radisson Mining Resources Inc.
TSX VENTURE : RDS

Radisson Mining Resources Inc.

April 03, 2012 08:00 ET

Radisson Mining Resources Inc.: Significant Drill Results from the O'Brien/Kewagama Project

ROUYN-NORANDA, QUEBEC--(Marketwire - April 3, 2012) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) is pleased to announce drill results from its wholly owned O'Brien /Kewagama project in Cadillac, Quebec.

Highlights include:

  • Extension of the new zone discovered last year
  • Extension on Zone 36 to the east.
  • Discovery of new high grade and lower grade, large width gold mineralization.

DRILL RESULTS ARE AS FOLLOWS:

HOLE
No
FROM
(m)
TO
(m)
INTERVAL
(m)
GRADE
g/t Gold
RM 11-16 213.2 216.4 3.2 16.2
220.9 222.5 1.6 6.45
239.0 241.6 2.6 5.41
213.2 241.6 28.4 2.73
272.0 281.0 9.0 2.31
RM 11-11 52.7 53.7 1.0 50.85
132.8 137.0 4.2 2.53
184.9 187.0 2.1 1.89
RM 11-12 200.9 202.6 1.7 10.0
282.6 285.8 3.2 3.31
RM 11-13 131.3 132.3 1.0 18.9
292.3 293.2 1.4 8.5
302.2 304.8 2.6 3.6
RM 11- 15 215.0 216.0 1.0 11.3
244.3 246.7 2.4 3.42
270.5 273.0 2.5 2.15
RM 11-17 224.7 225.8 1.1 2.44
262.8 266.9 4.0 2.07
RM 11-18* 178.7 179.9 1.2 3.69
RM 11-19* 271.0 272.0 1.0 3.5
395.7 397.4 1.7 2.05
426.0 428.6 2.6 1.6
* Holes RM 11-18 and RM 11-19 deviated away from intended targets and did not intercept zone.

Assaying was carried out by Techni-Lab SGB Abitibi and was performed using fire assay with an atomic absorption finish. Metallic sieve was used on re assays of high grade.

Drilling was carried out in the new discovery area of 2011(press release June 1, 2011), which had been drilled before. Last year's drilling discovered new gold mineralization in this area, and this year's drilling was successful in extending the gold mineralization and determing the eastward plunge of the zones.

Hole RM 11-16 was designed to test the eastern extension of zone 36 (site of future underground access) and discovered not only high-grade mineralization, but lower grade large width gold mineralization as well. Hole RM 11-16 intersected mineralization over 20 meters away from the resources as defined in the NI 43-101 report (Scott Wilson, Roscoe Postle) of May 2007.

The O'Brien/Kewagama gold project, located in the Malartic/Cadillac portion of the Abitibi gold belt, consists of 36 claims covering 729 hectares straddling the prolific Cadillac Break over a strike length of about three kilometers. From 1933 to 1956 the O'Brien gold mine, located on the property, produced 590,000 ounces of gold from 1.3 million tons of ore at a grade of 0.45 ounces of gold per ton, making it the highest grade gold producer in the camp. The mine reached a depth of 3,450 feet.

The O'Brien / Kewagama project is located approximately five kilometers west of and on strike from Agnico-Eagle's Lapa gold mine, also centered on the Cadillac Break, and approximatively four kilometers southeast of Agnico-Eagle's Laronde mine, now surpassing 3,000 meters (10,000 feet) in depth.

Previous exploration by the company on the project resulted in the discovery of an indicated resource of 218,540 ounces (based on an indicated resource of 270,000 tons at an uncut grade of 0.56 ounces per ton and an inferred resources of 182,000 tons at an uncut grade of 0.37 ounces) as defined in the Scott Wilson Roscoe Postle 43-101 report of May 2007.

These resources, all outlined above the 650- meter level, are located aver 800 meters east of the old O'Brien mine workings, and represent a new discovery of high-grade mineralization of the same type mined and produced at the O'Brien gold mine.

In 2011, the company carried out a complete re-evaluation and interpretation of the past exploration results on the project and carried out a successful diamond drill program, resulting in a new discovery on the largely unexplored eastern portion of the project (Kewagama) (press release June 16, 2011).

Highlights included:

  • 32.3 grams per ton gold over 7.3 meters;
  • 12.8 g/t gold over 2.25 m;
  • 3.57 g/t gold over 6.8 m;
  • 3.37 g/t gold over 8.6m.

The above results, combined with this year's drilling clearly demonstrate the potential of the project. Adding in the past mining history on the property, the presence of a high grade resource ( NI 43-101 report), an d the location of the project in the Cadillac portion of the Abitibi Gold Belt,all factors proving the significance of the O'Brien / Kewagama project.

The company has now embarked on the planning and execution of an underground development program on zone 36.

Access will be via a 4.5 by five meters decline (15 per cent) designed to access the 350, 500 and 750 foot levels. Planned length at this time will be in the order of 4,600 meters.

The underground access will be used to evaluate and bulk sample zone 36, explore for (via underground drilling) and discover any new gold zones, and carry out necessary mining and metallurgical feasibility studies.

The company has retained Genivar Inc. as consulting engineers, and has begun the government permitting and authorization process.

Engineering design and work is well advanced, with initial site field work beginning as soon as field conditions allow.

Part of the initial engineering was a drill hole (RM 11-14) which was drilled to determine overburden thickness and rock quality in the path of the decline. Though the area chosen was believed to have no mineralization, gold grades of over 1.0 g/t was encountered, demonstrating the pervasiveness of gold throughout the property.

The eastern portion of the project remains largely unexplored. Radisson carried out the first drilling in this area in 2011 resulting in a new discovery. Today's results confirm this discovery.

Further east, 2500 feet of the property has never been drilled.

The company continues with the exploration and development progress on the project and further updates will be released as available.

Eugene Gauthier Ing. (OIQ) acts as the qualified person for the company and has reviewed the contents of this release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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