Radisson Announces Completion of Phase 1 Glacial Till Sampling on the Southern Sector of the O'Brien Project
- The completion of the glacial till survey demonstrates the company's commitment to exploring and identifying strong gold potential in the New Alger area.
- The identification of a geological context similar to a world-renowned gold mining operation like Canadian-Malartic Complex is a positive sign for the company's future prospects.
- None.
ROUYN-NORANDA, Quebec, July 25, 2023 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTCQB: RMRDF) (“Radisson” or the “Corporation”) is pleased to announce that it has completed the first phase of an extensive glacial till survey on the southern sector ("New Alger") of the O'Brien project, where it has identified a geological context similar to that of Agnico Eagle’s Canadian-Malartic Complex (See Figure 1).
Why Pontiac Group sediments (“Pontiac Group”) located south of the prolific Larder-Lake-Cadillac break could host significant deposits?
Near the O'Brien project, the Canadian-Malartic Complex, which is largely hosted by Pontiac Group sediments, is one of the world’s largest gold mining operations having produced close to 13.7 million ounces of gold, to date. Gold mineralization is represented by a large volume of disseminated gold, spatially associated with intermediate to felsic porphyry intrusions and dykes (See figure 2), as well as shear zones. This mining complex highlights the Pontiac Group's high gold potential.
Why does the New Alger area have so much potential?
- New Alger covers an area of more than 50 square kilometers and is located close to numerous geological structures with strong gold potential.
- A sample grading 7.33 grams per tonne (g/t) gold (Au) was collected during the 2022 prospecting campaign, demonstrating the presence of at least one gold-rich zone in the area.
- With the presence of intermediate intrusions and felsic dykes, the geological characteristics of New Alger are very similar to those of historical and operating mines in the area (see Figure 2).
- The area is a continuation of the Amm Mine, from which 83,475 tonnes of gold, grading 4.54 g/t were extracted between 1939 and 1942, and which had estimated reserves of 219,000 tonnes grading 4.46 g/t Au.
"We are pleased to have completed the first phase of this important till sampling program, which we see as an excellent opportunity to demonstrate the strong gold potential of the New Alger area and we look forward to receiving the first results in the coming months. In parallel, our team is preparing for a 10,000-meter drill program scheduled to start in later this summer,” commented Radisson’s Geology Director, Vivien Janvier. “It's important to note that Radisson has taken every precaution during our summer exploration and prospecting work to preserve our forests and minimize the risk of fire.”
Phase 1 Sampling Program
During Phase 1, the team visited all 139 targets in the field. Out of these targets, 115 were sampled successfully, while 24 could not be sampled due to the presence of thick fluvio-lacustrine sediment. All samples taken were sent to the laboratory for analysis. The results of Phase 1 samples are expected to be obtained by the end of the Q3, or early Q4.
Figure 1: Geological map of Abitibi illustrating the gold potential of Pontiac Group sediments
Figure 2: Planned glacial till sampling grid
Figure 3: Location of the O'Brien project
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, those relating to the intended use of proceeds of the Offering, 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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