ROUYN-NORANDA, Quebec, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTCQB: RMRDF) (“Radisson” or the “Company”) is pleased to announce results from the first phase of an extensive glacial till sampling program, during the 2023 summer, in the southern sector ("New Alger") of the O'Brien project (“O’Brien” or the “Project”), an area having a geological context similar to that of Agnico Eagle’s Canadian-Malartic Complex (see Figure 1).
Program Highlights:
- 115 glacial till surface sample collected and analyzed by IOS Services Geoscientifiques
- 14 anomalous samples forming a southward dispersion gold grain tail in the western tier of the property
- Brand new target area with more than 2-kilometre (“km”) strike length with potential for gold discovery identified
- 15.5 km2 of additional claims staked expanding the property to 74.3 km2.
“We are pleased to share that results from the first phase of our summer 2023 glacial till sampling program at New Alger are very encouraging and have outlined a new target area of interest showing strong potential for gold mineralization over a strike length exceeding 2 km,” commented Radisson’s Geology Director, Vivien Janvier. “A total of 14 anomalous samples with between 10 and 45 pristine gold grains, suggestive of proximal provenance, were located in the western portion of the New Alger area leading us to identify a new highly prospective target area (see Figure 2). As a result of these findings, we’ve staked additional claims and plan to expand our 2024 exploration programs to include detailed prospecting work, trench sampling and, potentially, drilling to better understand the mineralization potential of this new target area. In addition to these promising sampling results, we look forward to sharing initial results from the first 5,300 metres of our ongoing drill program, currently focused on adding ounces to the existing resource estimate at O’Brien, in the coming weeks.”
Glacial Till Sampling Program Explainer:
The Canadian-Malartic Complex, part of the Pontiac Group of sediments, which has similar geology to New Alger, is one of the world’s largest gold mining operations, having produced close to 13.7 million ounces of gold1. The gold mineralization in this area is associated with porphyry intrusions, dykes, and shear zones, highlighting the significant potential for gold mineralization within the Pontiac Group. The Radisson geological team commissioned an initial glacial till sampling program to identify areas with gold endowment. The concept is that, in the course of the last Wisconsinian glacial event, bedrock and auriferous zones have been eroded by ice movement, and their gold particles content dispersed southward. The survey included three sampling profiles at the south end of the property, intended to intercept the dispersion of a potential deposit situated north, neighbouring the Cadillac break. An anomalous gold grain tail was detected on the western portion of the property. With the sampling profile having not detected the dispersion of the O’Brien deposit, the length of the dispersion is believed to be limited to approximately 2 km within the property perimeter (see Figure 2). The area has limited outcropping, and consequently has been underexplored. These results are very encouraging and warrant more comprehensive exploration work to assess the potential for additional discoveries.
About New Alger
New Alger is an over 74 square-kilometre land package with strong potential for gold, located near many prolific geological structures. During a prospecting campaign in 2022, a sample containing 7.33 grams of gold per tonne was collected, indicating the presence of at least one gold-rich zone in the area. The geological characteristics of New Alger are similar to those of historical and operating mines in the area, with potentially prolific shear-zones, intermediate to felsic dykes and intrusions present. The area is in continuity of the Amm Mine, which extracted 83,475 tonnes at 4.54 g/t Au between 1939 and 1942 and had estimated reserves of 219,000 tonnes of ore.
Figure 1: Location of the New Alger area in the Pontiac Group sediments
Figure 2: Results of the glacial till sampling showing the delineation of a new area prospective for gold. (number of pristine gold grains indicated)
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. Lachance
Chairman, Interim President and CEO
819-806-3340
dlachance@radissonmining.com
Kristina Pillon
Manager, Investor Relations
604.908.1695
kpillon@radissonmining.com
Notes:
1) NI 43-101 Technical Report, ‘Canadian Malartic Mine,’ Quebec Canada, December 31, 2020
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.
