STOCK TITAN

Radisson Drills Deepest Hole at O’Brien Gold Project and First Below O’Brien’s Historic Workings, and Intersects High Grade Gold Mineralization Including 242 g/t Gold over 1 Metre

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

Radisson Mining Resources announced significant results from its deepest-ever diamond drill hole at the O'Brien Gold Project in Quebec. Hole OB-24-337, drilled to 1,700 meters depth, intersected 242.0 g/t gold over 1.0 metre within a mineralized interval averaging 31.24 g/t Au over 8.0 metres at approximately 1,500 meters vertical depth.

This discovery is particularly significant as it's located 500 metres below the deepest workings of the old mine, demonstrating extensive gold mineralization at depth. The intersection occurred in the Piché Group rocks, the primary host rocks for O'Brien gold mineralization. Currently, about 75% of the project's existing Mineral Resource is defined at depths above 600 metres, suggesting significant upside potential.

Radisson Mining Resources ha annunciato risultati significativi dal suo pozzo d'esplorazione più profondo mai realizzato nel progetto O'Brien Gold in Quebec. Il foro OB-24-337, perforato fino a una profondità di 1.700 metri, ha intercettato 242,0 g/t di oro su 1,0 metro all'interno di un intervallo mineralizzato con una media di 31,24 g/t Au su 8,0 metri a circa 1.500 metri di profondità verticale.

Questa scoperta è particolarmente importante poiché si trova a 500 metri al di sotto delle più profonde opere della vecchia miniera, dimostrando una vasta mineralizzazione d'oro a profondità elevate. L'intersezione si è verificata nelle rocce del Gruppo Piché, le principali rocce ospitanti per la mineralizzazione d'oro di O'Brien. Attualmente, circa il 75% delle risorse minerali esistenti del progetto è definito a profondità superiori a 600 metri, suggerendo un significativo potenziale di crescita.

Radisson Mining Resources anunció resultados significativos de su perforación más profunda en el Proyecto O'Brien Gold en Quebec. El agujero OB-24-337, perforado a una profundidad de 1.700 metros, intersectó 242,0 g/t de oro sobre 1,0 metro dentro de un intervalo mineralizado que promedia 31,24 g/t Au sobre 8,0 metros a aproximadamente 1.500 metros de profundidad vertical.

Este descubrimiento es especialmente significativo ya que se localiza 500 metros por debajo de las obras más profundas de la antigua mina, lo que demuestra una amplia mineralización de oro a gran profundidad. La intersección ocurrió en las rocas del Grupo Piché, las principales rocas anfitrionas para la mineralización de oro de O'Brien. Actualmente, aproximadamente el 75% de los recursos minerales existentes del proyecto se definen a profundidades superiores a 600 metros, lo que sugiere un notable potencial de crecimiento.

Radisson Mining Resources는 퀘벡에 있는 O'Brien Gold 프로젝트에서 가장 깊은 다이아몬드 시추 홀의 중요한 결과를 발표했습니다. OB-24-337 홀은 1,700미터 깊이에서 1미터당 242.0g/t 금을 발견했으며, 약 1,500미터의 수직 깊이에서 평균 31.24g/t Au의 광물화 구간이 포함되어 있습니다.

이 발견은 특히 오래된 광산의 가장 깊은 작업보다 500미터 아래에 위치하고 있어 깊은 곳에서의 광범위한 금 광물화를 보여줍니다. 이 교차점은 O'Brien 금 광물화의 주요 호스트 암석인 Piché 그룹의 암석에서 발생했습니다. 현재 이 프로젝트의 기존 광물 자원의 약 75%가 600미터 이상의 깊이에서 정의되어 있어 상당한 잠재력이 있음을 나타냅니다.

Radisson Mining Resources a annoncé des résultats significatifs de son trou de forage diamant le plus profond jamais réalisé au Projet O'Brien Gold au Québec. Le trou OB-24-337, foré à une profondeur de 1 700 mètres, a intersectionné 242,0 g/t d'or sur 1,0 mètre dans un intervalle minéralisé ayant une moyenne de 31,24 g/t Au sur 8,0 mètres à environ 1 500 mètres de profondeur verticale.

Cette découverte est particulièrement significative car elle se situe à 500 mètres en dessous des travaux les plus profonds de l'ancienne mine, démontrant une large minéralisation d'or en profondeur. L'intersection a eu lieu dans les roches du Groupe Piché, les principales roches hôtes pour la minéralisation d'or d'O'Brien. Actuellement, environ 75 % des ressources minérales existantes du projet sont définies à des profondeurs supérieures à 600 mètres, suggérant un potentiel de hausse significatif.

Radisson Mining Resources hat bedeutende Ergebnisse aus seinem bisher tiefsten Diamantbohrloch im O'Brien Gold Projekt in Quebec bekanntgegeben. Das Bohrloch OB-24-337, das bis in eine Tiefe von 1.700 Metern gebohrt wurde, hat 242,0 g/t Gold über 1,0 Meter innerhalb eines mineralisierten Intervalls mit einem Durchschnitt von 31,24 g/t Au über 8,0 Meter bei etwa 1.500 Metern vertikaler Tiefe durchschnitten.

Diese Entdeckung ist besonders bedeutend, da sie 500 Meter unterhalb der tiefsten Arbeiten der alten Mine liegt, was eine extensive Goldmineralisierung in der Tiefe demonstriert. Die Schnittstelle fand in den Gesteinen der Piché-Gruppe statt, den Hauptgesteinen für die Goldmineralisierung von O'Brien. Derzeit sind etwa 75 % der bestehenden Mineralressourcen des Projekts in Tiefen über 600 Meter definiert, was ein erhebliches Wachstumspotenzial andeutet.

Positive
  • High-grade gold intersection of 242.0 g/t over 1.0 metre at 1,500m depth
  • Discovery extends 500m below historic mine workings, suggesting significant resource expansion potential
  • 5 out of 7 recent deep drill holes returned intercepts above the project's grade cutoff
  • Current Indicated Resources: 0.50M oz at 10.26 g/t Au
  • Additional Inferred Resources: 0.45M oz at 8.66 g/t Au
Negative
  • 75% of current mineral resources concentrated above 600m depth, indicating deep exploration to date
  • True widths of drill intercepts estimated at only 30-70% of core length

ROUYN-NORANDA, Quebec, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTCQB: RMRDF) (“Radisson” or the “Company”) is pleased to announce results from an important diamond drill hole at its 100%-owned O’Brien Gold Project (“O’Brien” or the “Project”) located in the Abitibi region of Québec.

OB-24-337 is an exploratory hole drilled to a depth of 1,700 metres, the deepest hole ever drilled at the Project and the first hole drilled directly below the historic O’Brien Mine workings. At approximately 1,500 metres vertical depth it intersected sheared and mineralized rocks of the Piché Group, the dominant host rocks for O’Brien gold mineralization, and returned 242.0 g/t gold (“Au”) over 1.0 metre within a mineralized interval that averaged 31.24 g/t Au over 8.0 metres.

Matt Manson, President and CEO, commented: “Following our “Jewellery Box” re-discovery news of December 9, 2024, we are taking the unusual step of releasing assays from another single drill hole today because of its particular significance to the future of the O’Brien Gold Project. Hole OB-24-337 was intended to be a pilot hole testing whether the Project’s host geology extended below the historic mine and to be a platform for future wedging and directional drilling. The fact that this hole intersected mineralization and visible gold at such a high grade greatly exceeded our expectations. Recall that approximately 75% of our existing Mineral Resource is defined at depths above 600 metres. On September 24th we announced that drill hole OB-24-324 had intersected 27.61 g/t Au over 6.0 metres at 1,100 metres vertical depth. Now, we have new gold mineralization in a classic O’Brien setting at 1,500 metres vertical depth, a full 500 metres below the deepest workings of the old mine. It is clear that O’Brien gold mineralization is extensive at depth, implying significant future upside potential for the Project.”

Visible Gold in Drill Hole OB-24-337

Figure 1: Visible Gold in Drill Hole OB-24-337

Long Section in Oblique View of Gold Vein Mineralization and Mineral Resources at the O’Brien Gold Project, with Drill Hole OB-337 and Other Recent De

Figure 2: Long Section in Oblique View of Gold Vein Mineralization and Mineral Resources at the O’Brien Gold Project, with Drill Hole OB-337 and Other Recent Deep Drill Holes Illustrated.

Table 1: Detailed Assay Results from Drill Hole OB-24-337

DDHZone From (m) To (m) Core
Length
(m)
Au g/t –
Uncut
Host Lithology
OB-24-337O'Brien Mine 1,507.61,508.61.05.57POR-S
  1,517.7 1,525.7 8.031.24 POR-S
Including 1,517.7 1,518.7 1.0242.00 POR-S
 1,550.51,552.01.52.38V3-CEN
 1,610.51,611.91.45.49V3-N
 1,660.51,662.72.33.78S3P


Notes on Calculation of Drill Intercepts:
The O’Brien Gold Project March 2023 Mineral Resource Estimate (“MRE”) utilizes a 4.50 g/t Au bottom cutoff, a US$1600 gold price, a minimum mining width of 1.2 metres, and a 40 g/t Au upper cap on composites. Intercepts from drill hole OB-24-337 presented in Table 1 are calculated with a 1.00 g/t bottom cut-off over a minimum 1.0 metre core length so as to illustrate the frequency and continuity of mineralized intervals within which high-grade gold veins at O’Brien are developed. Intercepts presented in the deep drill hole compilation in Table 2 are calculated with a 3.00 g/t Au bottom cut-off, representing the lower limit of cut-off sensitivity presented in the March 2023 Mineral Resource Estimate. Sample grades are uncapped. True widths, based on depth of intercept and drill hole inclination, are estimated to be 30-70% of core length. Lithology Codes: PON-S3: Pontiac Sediments; V3-S, V3-N, V3-CEN: Basalt-South, North, Central; S1P, S3P: Conglomerate; POR-S, POR-N: Porphyry South, North; TX: Crystal Tuff; ZFLLC: Larder Lake-Cadillac Fault Zone

Table 2: Compilation of All Deep Drill Holes Recently Published (see Radisson News Releases Dated September 24, 2024 and October 30, 2024. See “Notes on Calculation of Drill Intercepts”)

DDHZone From (m) To (m) Core
Length
(m)
Au g/t -
Uncut
Host Lithology
OB-24-322Trend #1 1,149.21,150.71.55.25PON-S3
  1,164.8 1,166.2 5.28.75V3-S
including 1,164.8 1,167.6 1.427.20V3-S
 1,215.61,219.84.23.20V3-S
 1,234.91,236.41.55.16V3-S
OB-24-324Trend #1  1,178.8 1,184.8 6.027.61S1P
including 1,182.6 1,183.7 1.1102.00S1P
 1,197.51,199.01.54.64S1P
  1,231.0 1,241.0 10.06.83POR-N/V3-N
including 1,231.0 1,232.5 1.540.20POR-N
 1,249.01,250.41.43.78S3P
OB-23-324W1Trend #1  1,139.9 1,152.3 12.45.48 POR-S
Including 1,141.4 1,145.8 4.412.10 POR-S
  1,164.3 1,168.5 4.28.02 S1P
 1,200.01,202.92.93.31POR-N
OB-24-323Trend #0 795.0796.01.011.85PON-S3
  903.9 914.8 10.93.34 V3-S
Including 903.9 905.4 1.513.90 V3-S
 933.5934.71.26.21V3-CEN
  993.4 1,001.6 8.23.51 V3-N/S3P
Including 995.4 996.9 1.59.93 V3-N
OB-24-337O'Brien Mine  1,507.6 1,508.6 1.05.57POR-S
  1,517.7 1,525.7 8.031.24POR-S
Including 1,517.7 1,518.7 1.0242.00POR-S
  1,610.5 1,611.9 1.45.49V3-N
  1,660.5 1,662.7 2.33.78S3P

Notes
Deep Drill Holes OB-24-321 and OB-24 324W2 did not return any intercepts >3 g/t Au

Cross Section of the Historic O’Brien Mine Locating Drill Hole OB-24-337

Figure 3: Cross Section of the Historic O’Brien Mine Locating Drill Hole OB-24-337

Recent Deep Drilling Results

Today’s results from deep drill hole OB-24-337 are from the third batch of drill results released since September that have shown high grade O’Brien gold mineralization within Piché Group rocks well below the base of the existing Mineral Resource Estimate (“MRE”). Seven deep drill holes or drill hole wedges have been completed since this time. Six of the seven returned instances of visible gold and five of the seven returned drill intercepts well above the Project’s grade cutoff in the March 2023 MRE. The holes were drilled at northerly declinations with initial inclinations of between -65 and -85 degrees, followed by angling to provide a high angle of incidence with the southerly dip of the Piché Group rocks and vein mineralization. Estimated true widths of drill intercepts at the point of contact with mineralization is estimated to be 30-70% of core length.

Deep drill results since September 2024, summarized in Table 2, have now included:

  • OB-24-322 with 8.75 g/t Au over 5.2 metres, including 27.20 g/t Au over 1.0 metre;
  • OB-24-324 with 27.61 g/t Au over 6.0 metres, including 102.0 over 1.0 metre, and 6.83 g/t Au over 10.0 metres including 40.20 g/t Au over 1.0 metre;
  • OB-24-324W1 with 5.48 g/t Au over 12.4 metres, including 12.10 g/t Au over 4.0 metres;

and now:

  • OB-24-337 with 31.24 g/t Au over 8 metres including 242.0 g/t Au over 1.0 metre;

The frequency and grade of intercepts returned by these deep drill holes, as well as the observed host geology, its deformation, the style of alteration, and the mineralogical association of the gold mineralization, are all familiar from the historical O’Brien mine and consistent with the modern geological model developed at shallower depths. The implication is that characteristic O’Brien style gold mineralization is extensive at depth, well below the level of the historic mine workings and the current MRE.

Gold Mineralization at O’Brien

Gold mineralizing quartz-sulphide veins at O’Brien occur within a thin band of interlayered mafic volcanic rocks, conglomerates, and porphyric andesitic sills of the Piché Group occurring in contact with the east-west oriented Larder Lake-Cadillac Break (“LLCB”). Gold, along with pyrite and arsenopyrite, is typically associated with shearing and a pervasive biotite alteration, and developed within multiple Piché Group lithologies and, occasionally, the hanging-wall Pontiac and footwall Cadillac meta-sedimentary rocks.

As mapped at the historic O’Brien mine, and now replicated in the modern drilling, individual veins are generally narrow, ranging from several centimetres up to several metres in thickness. Multiple veins occur sub-parallel to each other, as well as sub-parallel to the Piché lithologies and the LLCB. Individual veins have well-established lateral continuity, with near-vertical, high-grade shoots developed over significant lengths. The historic O’Brien mine produced over half a million ounces of gold from such veins and shoots at an average grade exceeding 15 g/t and over a vertical extent of at least 1,000 metres.

Based on drilling complete to the end of 2022, the Project has estimated Indicated Mineral Resources of 0.50 million ounces (1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources of 0.45 million ounces (1.60 million tonnes at 8.66 g/t Au). Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Current exploration is focussed on delineating well developed vein mineralization to the east of the historic mine, with additional high-grade shoots becoming evident in the exploration data over what has been described as a series of repeating trends (“Trend #s 0 to 5”).

Table 3: Drill Hole Collar Information for Holes contained in this News Release

DDHZoneEastingNorthingAzimuthDipHole Length
(m)
OB-24-321Trend #1693952534521610.0-771065
OB-24-322Trend #169419753451020.0-851339
OB-24-323Trend #06939535345212335.0-791014
OB-24-324Trend #16942195345107343.0-801256
OB-24-324W1Trend #169420953454029.3-64290
OB-24-324W2Trend #169420253453486.6-65147
OB-24-337O'Brien Mine6937005345070346.0-801695


QA/QC

All drill cores in this campaign are NQ in size. Assays were completed on sawn half-cores, with the second half kept for future reference. The samples were analyzed using standard fire assay procedures with Atomic Absorption (AA) finish at ALS Laboratory Ltd, in Val-d’Or, Quebec. Samples yielding a grade higher than 10 g/t Au were analyzed a second time by fire assay with gravimetric finish at the same laboratory. Mineralized zones containing visible gold were analyzed with metallic sieve procedure. Standard reference materials, blank samples and duplicates were inserted prior to shipment for quality assurance and quality control (QA/QC) program.

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.

Three photos accompanying this announcement are available at: 

https://www.globenewswire.com/NewsRoom/AttachmentNg/0e6a2706-2f60-4445-ae2b-5dfbbcd3f8d7

https://www.globenewswire.com/NewsRoom/AttachmentNg/49406a2a-8bd9-453e-953c-377a7b7cf998

https://www.globenewswire.com/NewsRoom/AttachmentNg/17ed224a-1829-4499-8f05-f18a2de42b6f


FAQ

What were the key gold grades discovered in Radisson's deepest drill hole at O'Brien?

The deepest drill hole (OB-24-337) intersected 242.0 g/t gold over 1.0 metre within a broader zone averaging 31.24 g/t Au over 8.0 metres at approximately 1,500 meters vertical depth.

How deep is the new RMRDF gold discovery compared to the historic O'Brien mine workings?

The new discovery is located 500 metres below the deepest workings of the historic O'Brien mine, at approximately 1,500 meters vertical depth.

What are the current mineral resources at Radisson's O'Brien Gold Project?

The O'Brien Project has Indicated Mineral Resources of 0.50 million ounces (1.52 million tonnes at 10.26 g/t Au) and Inferred Mineral Resources of 0.45 million ounces (1.60 million tonnes at 8.66 g/t Au).

How many recent deep drill holes at O'Brien returned significant gold intercepts?

Five out of seven recent deep drill holes returned intercepts above the project's grade cutoff, with six of the seven holes showing visible gold.

RADISSON MINING RESOURCES

OTC:RMRDF

RMRDF Rankings

RMRDF Latest News

RMRDF Stock Data

53.69M
309.19M
9.55%
8.14%
Gold
Basic Materials
Link
United States of America
Rouyn-Noranda