Radisson Announces Completion of Phase 1 Glacial Till Sampling on the Southern Sector of the O'Brien Project
25 Juillet 2023 - 12:30PM
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 100% owned O’Brien 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 25,000,000 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.
For more information on Radisson, visit our website at
www.radissonmining.com or contact:
Denis V. LachanceChairman, Interim President and
CEO819-806-3340dlachance@radissonmining.com
Kristina PillonManager, Investor
Relations604.908.1695kpillon@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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