ROUYN-NORANDA, Quebec, May 04, 2023 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF): ("Radisson" or the "Corporation”) is pleased to announce that following the 2022 prospection program on the southern portion of the O'Brien project, (“New Alger” or “New Alger area”) it has identified a geological context similar to the Canadian-Malartic complex where it is planning a large scale till sampling campaign (see figure 1).
Why Pontiac Group sediments (“Pontiac Group”) located south of the prolific Larder-Lake-Cadillac break could host significant deposits?
In proximity to the O’Brien gold project, the Canadian-Malartic complex has produced near 13.7 million ounces of gold to date and is largely located in the Pontiac Group, where gold mineralization is represented by a large volume of disseminated gold and is spatially related to felsic to intermediate porphyritic intrusions and dykes as well as shear-zones (see figure 2). This mining complex highlights the vast potential for gold in the Pontiac Group.
Why does the New Alger area have so much potential?
- The area represents more than 50 km2 in proximity to multiple major auriferous structures.
- A sample collected during the 2022 prospection campaign grading 7.33 g/t Au demonstrated the presence of at least one gold-rich zone in the area.
- With the presence of felsic to intermediate porphyritic intrusions and felsic dykes it has geological characteristics similar to historical and operating mines (figure 2).
- The area is located in lateral continuity of the AMM mine from which approximately 83,475 tons were extracted at a grade of 4.54 g/t Au from 1939 to 1942 and that had estimated reserves of 219,000 tons grading 4.46 g/t Au.
“I am thrilled to report that we will be conducting this important till sampling program in upcoming weeks. While the impressive O’Brien project remains our top priority and focus, we see an excellent opportunity to start unlocking the value of the New Alger area at a low cost where our vast landholding has potential to yield new gold discoveries,” Commented Denis V. Lachance, Interim President and Chief Executive Officer.
How will the Radisson team attempt to make a new discovery?
After evaluation, Radisson’s geological team determined that a major glacial till sampling campaign (300-400 samples) is the best method to target large zones with disseminated gold potential. Following a successful campaign, stripping, trenching and/or drilling would eventually allow to precisely delineate the strike of a potential discovery.
Figure 2: Planned glacial till sampling grid
Figure 3 : O’Brien gold project location map
Qualified Person
Vivien Janvier, P.Geo., Ph.D., Director, Geology for Radisson is the Qualified Person pursuant to the requirements of NI 43-101. The Company’s QP has reviewed the technical content of this 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, Quebec. 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 Quebec’s highest-grade gold producer during its production.
For more information on Radisson visit its website www.radissonmining.com or contact:
Denis V. Lachance
Chairman, Interim President and CEO
819-806-3340
dlachance@radissonmining.com
Hubert Parent-Bouchard
Chief Financial Officer
819-763-9969
hpbouchard@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.
