Radisson Expands Area of High-Grade Gold Mineralization Beneath the Historic O'Brien Gold Mine with Three New Drill Holes Including 29.93 g/t Gold over 2.2 Metres

Globe and Mail

02-04-2025

Rouyn-Noranda, Quebec--(Newsfile Corp. - April 2, 2025) - Radisson Mining Resources Inc. (TSXV: RDS) (OTCQB: RMRDF) (" Radisson" or the " Company") is pleased to announce drill assay results from three new drill holes at its 100%-owned O'Brien Gold Project (" O'Brien" or the " Project") located in the Abitibi region of Québec.
The three holes reported are all wedges completed from the previously reported pilot hole OB-24-337 (see Radisson News Release dated December 16, 2024; Figure 1). OB-24-337 was the deepest hole ever drilled at the Project and the first hole drilled directly below the historic O'Brien Mine workings. It intersected 242.0 grams per tonne ("g/t") gold ("Au") over 1.0 metre within a mineralized interval that averaged 31.24 g/t Au over 8.0 metres at approximately 1,500 metres vertical depth. Now, three new wedges have all returned additional high-grade gold intercepts, delineating a large zone of multiple veins with good continuity.
Highlights include:
OB-24-337W3 intersected 29.93 g/t Au over 2.2 metres, including 53.50 g/t Au over 1.2 metres and 4.54 g/t Au over 3.0 metres, including 7.61 g/t Au over 1.5 metres;
OB-24-337W1 intersected 4.44 g/t Au over 6.4 metres, including 18.65 g/t Au over 1.2 metres; and,
OB-24-337W2 intersected 9.62 g/t Au over 1.4 metres.
Matt Manson, President & CEO, commented: "On December 16, 2024 we reported that a deep pilot hole had intersected significant high-grade gold mineralization a full 500 metres below the base of the historic O'Brien Gold Mine. Today, we are reporting the results from the first three wedges drilled from this hole, all of which have hit multiple instances of gold mineralization in classic quartz-sulphide veins hosted in sheared and mineralized rocks of the Piché Group, the dominant host rocks for O'Brien gold mineralization. In fact, we are able model up to four such veins individually, with clear continuity between the drill holes and upwards towards mineralization documented at the base of former mine. Results are pending for two additional wedges that have been drilled, both of which show vein mineralization and visible gold consistent with the developing model."
Matt Manson continued: "A primary focus of our 22,000-metre drill program this year is deep-step-outs below the Project's existing mineral resources and the historic mine workings, in a 'proof-of-concept' approach that aims to identify the extension of mineralization to depth. We believe 2 kilometres is an appropriate exploration horizon, with 75% of the current mineral resources defined down to depths of only 600 metres. Today's results are extremely encouraging and suggest that classic O'Brien gold mineralization is indeed extensive at depth, with important implications for the future scale of the Project."
Figure 1: Long Section and Plan View of Gold Vein Mineralization and Mineral Resources at the O'Brien Gold Project, with Today's Drill Holes Illustrated.
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Table 1: Detailed Assay Results from Drill Holes OB-24-337, and OB24-337W1 to 337W3
DDH Zone
From (m) To (m) Core
Length (m) Au g/t -
Uncut Host Lithology
OB-24-337-Pilot (Previously Released 16th December, 2024) O'Brien Mine
1,507.6 1,508.6 1.0 5.57 POR-S
1,517.7 1,525.7 8.0 31.24 POR-S
Including 1,517.7 1,518.7 1.0 242.00 POR-S
1,610.5 1,611.9 1.4 5.49 V3-N
1,660.5 1,662.7 2.3 3.78 S3P
Including 1,660.5 1,661.6 1.2 5.78 S3P
OB-24-337W1 O'Brien Mine
1,513.3 1,514.8 1.5 3.82 V3-CEN
1,575.5 1,581.9 6.4 4.43 V3-N
Including 1,575.5 1,576.7 1.2 18.65 V3-N
1,618.7 1,619.7 1.0 3.67 V3-N
OB-24-337W2 O'Brien Mine
1,378.5 1,379.8 1.3 6.70 V3-N
1,486.1 1,487.5 1.4 9.62 S1P
1,530.0 1,532.0 2.0 4.36 V3-N
Including 1,531.0 1,532.0 1.0 5.90 V3-N
OB-24-337W3 O'Brien Mine
1,350.4 1,353.4 3.0 4.54 V3-S
Including 1,350.4 1,351.9 1.5 7.61 V3-S
1,420.5 1,422.0 1.5 3.18 POR-S
1,443.0 1,445.2 2.2 29.93 V3-CEN
Including 1,444.0 1,445.2 1.2 53.50 V3-CEN
1,554.0 1,556.1 2.1 5.48 S3P
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 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 presented in Table 1 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 MRE. This methodology differs from previous Radisson disclosure, and intercepts reported in this release may not be directly comparable to historical published intercepts. Sample grades are uncapped. True widths, based on depth of intercept and drill hole inclination, are estimated to be 30-80% of core length. Table 2 presents additional drill intercepts 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. 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.
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.
Figure 3 illustrates modelling of four veins extending from the OB-24-337 pilot hole and wedges upward to the deepest underground working at the historic O'Brien mine. Vein V3-S_20 intersects OB-24-337W2 and W3 and is further supported by underground mapping in an exploration drift located to the south of the main mined out vein at level 3450. Vein V3-C_03 is intersected by the pilot hole and all three wedges and is further supported by underground mapping and the historic stope locations. Vein V3-N_02 is also intersected by the pilot hole and all three wedges and is further supported by historic underground drilling from the 3450 level. V3-N_03 is intersected by all four deep holes. Radisson's vein modelling is undertaken dynamically as drilling proceeds and is used to guide future exploration and, ultimately, domaining for future resource estimation.
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. Recent exploration has 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").
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.
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.
Figure 2: Cross Section through the historic O'Brien mine including drill holes OB-24-337, and 337W1 to W3.
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Figure 3: Vein Modelling Across Drill Holes OB-24-337, and 337W1 to W3.
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Table 2: Detailed Assay Results (see "Notes on Calculation of Drill Intercepts")
DDH Zone
From (m) To (m) Core
Length (m) Au g/t -
Uncut Host Lithology
OB-24-337-Pilot (Previously Released 16th December, 2024) O'Brien Mine
1,507.6 1,508.6 1.0 5.57 POR-S
1,517.7 1,525.7 8.0 31.24 POR-S
Including 1,517.7 1,518.7 1.0 242.00 POR-S
1,550.5 1,552.0 1.5 2.38 V3-CEN
1,610.5 1,611.9 1.4 5.49 V3-N
1,660.5 1,662.7 2.3 3.78 S3P
including 1,660.5 1,661.6 1.2 5.78 S3P
OB-24-337W1 O'Brien Mine
1,488.5 1,489.5 1.0 1.13 POR-S
1,513.3 1,519.3 6.0 1.89 V3-CEN
Including 1,513.3 1,514.8 1.5 3.82 V3-CEN
1,540.4 1,543.3 2.9 1.98 V3-CEN/S1P
1,575.5 1,581.9 6.4 4.43 V3-N
Including 1,575.5 1,576.7 1.2 18.65 V3-N
1,591.2 1,593.7 2.5 1.51 V3-N
1,618.7 1,621.8 3.1 2.49 V3-N
Including 1,618.7 1,619.7 1.0 3.67 V3-N
OB-24-337W2 O'Brien Mine
1,378.5 1,379.8 1.3 6.70 V3-N
1,445.0 1,446.1 1.1 2.58 POR-S
1,448.9 1,450.4 1.5 1.92 POR-S
1,454.8 1,456.3 1.5 1.37 V3-CEN
1,486.1 1,487.5 1.4 9.62 S1P
1,510.8 1,512.1 1.3 1.06 V3-N
1,530.0 1,532.0 2.0 4.36 V3-N
Including 1,531.0 1,532.0 1.0 5.90 V3-N
1,549.9 1,551.4 1.5 1.72 S3P
1,565.4 1,566.5 1.1 1.16 S3P
OB-24-337W3 O'Brien Mine
1,350.4 1,353.4 3.0 4.54 V3-S
Including 1,350.4 1,351.9 1.5 7.61 V3-S
1,411.0 1,422.0 11.0 1.22 POR-S
Including 1,420.5 1,422.0 1.5 3.18 POR-S
1,440.5 1,442.0 1.5 1.03 V3-CEN
1,443.0 1,445.2 2.2 29.93 V3-CEN
Including 1,444.0 1,445.2 1.2 53.50 V3-CEN
1,480.0 1,481.5 1.5 1.74 S1P
1,525.3 1,526.7 5.4 1.34 V3-N
1,554.0 1,556.1 2.1 5.48 S3P
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.
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.