Drill Now Turning at Radisson's High-Grade O'Brien Gold Project in Quebec's Abitibi for 10,000 Metre Phase I Program
- Radisson has commenced a Phase I drill program to expand the current mineral resource estimate at the O'Brien Gold Project.
- The company believes there is strong potential for additional high-grade gold trends to be discovered.
- O'Brien West remains open for exploration.
- None.
ROUYN-NORANDA, Quebec, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTCQB: RMRDF) (“Radisson” or the “Corporation”) is pleased to announce that it has mobilized a first drill rig and commenced a Phase I, 10,000 metre (“m”) drill program at its O’Brien Gold Project (“O’Brien”) or (“the Project”) located in Rouyn-Noranda, Quebec (Figure 1).
The main objective of the program is to continue to expand upon the current mineral resource estimate published in March 2023 (see Radisson doubles resource estimate at O’Brien).
Key Program Highlights
- A Phase I drill program is now underway at Radisson’s high-grade O’Brien Gold Project, located in Quebec’s renowned Abitibi region (Figure 1).
- The 10,000 m program will focus on expanding the current mineral resource estimate
- Drilling will focus on twenty (20) high priority targets between surface and 500 m vertical depth
“We are very excited to have begun this fully financed Phase I drill program at O’Brien as we look to continue to grow our resources and demonstrate the Project’s potential. Our geological team has an excellent understanding of the deposit and has employed a sophisticated targeting method that we expect will allow us to maintain and even improve our success rate in adding ounces as we demonstrated during the drilling program completed in 2022,” commented Denis V. Lachance, President and Interim CEO.
“Globally, there are very few gold projects located in a world-class jurisdiction like Quebec’s Abitibi, that have the scale, untapped potential, and high-grade profile of O'Brien. With our solid geological model and our largely underexplored 5.2-kilometre (“km”) land-package on the Larder-Lake-Cadillac Fault, we strongly believe that the true potential of the Project is yet to be unlocked.”
Figure 1. O’Brien gold project location, Quebec, Canada
Figure 2. O’Brien 2023, Phase I Drill Program Plan Map
Exploration Potential – O’Brien Project
O’Brien East – Area hosting majority of current resources
The Phase I drill program will focus on 20 of the highest priority targets out of more than 118 targets established near the current resources at O’Brien East, primarily within vertical depths between surface and 500 m within less explored areas, such as high-grade trends (“trends”) #3 and #4. Under-explored sectors so far such as the sector between high-grade trends #1 and #2 will also be targeted.
Given our current geological understanding and refinement of the geological model, the company estimates there is strong potential for additional high-grade gold trends to be discovered along the 5.2 km prospective land package on the prolific Larder-Lake Cadillac Break (“LLCB”). Mineral resources are open for an additional 750 m to the East and underexplored for 2.5 km to the West of the former O’Brien mine. The continuity of mineralized zones along steeply plunging trends (80° to 85°) provides good predictability for resource growth and exploration potential (Figure 2).
There remains significant potential to expand resources with additional drilling as high-grade trends in the current resource areas are wide open:
- Trend #0: Open to the West and below 750 m
- Trend #1: Open laterally and below 950 m
- Trend #2: Open laterally and below 900 m
- Trend #3: Open laterally and below 500 m
- Trend #4: Open laterally and below 500 m
O’Brien West
In 2023, modelling and re-interpretation of drilling data available on the LLCB portion of O’Brien West allowed to establish Inferred resources totalling 293,000 tonnes grading 7.59 g/t Au for 72,000 ounces.
With approximately 2.5 km of ground along the prolific LLCB having seen limited exploration work in recent years, O’Brien West also remains open in all direction. Exploration targets, following on an historic intercept grading 5.63 g/t Au over 9.00 m, have been established on this sector and should eventually be integrated into the drill program (Figure 2).
Qualified Person
Vivien Janvier, P.Geo, Ph.D., Director Geology for Radisson is the Qualified Person as defined by NI 43-101. The Company's Qualified Person has reviewed and approved the technical content of this press release.
Radisson Mining Resources Inc.
Radisson is a gold exploration company focused on its
For more information on Radisson, visit our website at www.radissonmining.com or contact:
Denis V. Lachance
Chairman, Interim President and CEO
819-806-3340
dlachance@radissonmining.com
Kristina Pillon
Manager, Investor Relations
604.908.1695
kpillon@radissonmining.com
Forward-Looking Statements
All statements, other than statements of historical fact, contained in this press release including, but not limited to, the exploration 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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