Feb 28 2020
Radisson Mining Resources Inc., a gold exploration company, takes pleasure in announcing that the ongoing drill program has been significantly expanded from 20,000 m to 60,000 m at its flagship O’Brien project.
The O’Brien gold project is situated along the Larder-Lake-Cadillac Break halfway between Val-d’Or and Rouyn-Noranda in Quebec, Canada.
Announced in August 2019, the current drill program represents the first exploration program of Radisson Mining Resources to test targets that were delineated by the latest litho-structural model. The main goal of the first round of the drilling program was to additionally verify the model and further define high potential targets for the conversion and expansion of resources.
Highlights
- Initiated in August 2019, the current drill program has been extended from 20,000 m to 60,000 m.
- Since August 2019, about 20,000 m of drilling has been finished and results have been released for 13,780 m.
- A further drilling of 40,000 m was initiated in the last week of February.
- The drilling program will continue with a minimum of two surface drill rigs working round the clock.
- The expanded drill program will target:
- Conversion and expansion of resources both inside and outside the July 2019 resource boundary.
- Down-plunge of high-grade enhancement vectors was established by high-priority exploration targets.
- Radisson Mining Resources is fully financed to finish the 60,000-m drill program
- Present cash balance of $7.8 million1
- Total drill costs at O’Brien project are averaging $110–$120/m, which is well below the industry average.
- 1As of February 25, 2020.
Since the commencement of the program in 2019, drilling at O’Brien has continued to deliver excellent results demonstrating the continuity of high-grade mineralization within and below the current resource area. We believe this is a testament to our robust litho-structural model that has proven to be quite accurate in targeting high-grade mineralization both in the Upper and Lower zones.
Mario Bouchard, President and CEO, Radisson Mining Resources Inc.
Bouchard continued, “The model comprises 63 mineralized zones, that in places show sub-vertical enrichment trends very similar to structures mined previously at the old O’Brien mine where 90% of the historic production came from only three veins with an average grade of 15.25 g/t Au.”
In particular, we are encouraged by our success at the Lower 36E Zone, the primary target of drilling so far, where multiple high-grade gold intercepts suggest good continuity of mineralization within what appears to be a high-grade enrichment vector now drilled from 550 m to 955 m.
Mario Bouchard, President and CEO, Radisson Mining Resources Inc.
“While there has been limited deep drilling to the east of this area, our model and historical information suggests the potential for additional steeply plunging enrichment vectors at set intervals from west towards east. Our expanded drill program will target these vectors within and below the current resource area,” added Bouchard.
This is the largest drill campaign undertaken at O’Brien, and with a robust model to guide our targeting efforts, we are optimistic that results will drive meaningful resource growth, demonstrate the O’Brien project’s exploration potential and unlock significant value for our shareholders. We look forward to providing the market with regular exploration updates in the coming months as we ramp up our expanded program.
Mario Bouchard, President and CEO, Radisson Mining Resources Inc.
PDAC 2020
Radisson Mining Resources is happy to disclose its participation at the Prospectors Developers Association of Canada (PDAC) 2020 Conference at both the Core Shack and the Investors Exchange conducted in the Metro Toronto Convention Centre.