Radisson expands ongoing O’Brien drill program to 60,000 m
ROUYN-NORANDA, Quebec, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF): (“Radisson” or the “Company") is pleased to announce the
significant expansion of the ongoing drill program at its flagship O’Brien project, from 20,000 m to 60,000 m. The O’Brien gold project is located along the Larder-Lake-Cadillac Break halfway
between Rouyn-Noranda and Val-d’Or in Quebec, Canada. (See figure 1 and 2).
The ongoing drill program, announced in August 2019, represents the company’s first exploration program to test targets defined by the new litho-structural model (released February 2019). A key objective of the first round of drilling was to further validate the model and better define high potential targets for resource expansion and conversion.
- The ongoing drill program which commenced in August 2019, has been expanded to 60,000 m (from 20,000 m)
° Since August 2019, approximately 20,000 m of drilling have been completed, with results released for 13,780 m.
° An additional 40,000 m of drilling has started in the last week of February.
° Drilling will continue with at least two surface drill rigs operating 24x7.
- The expanded drill program will focus on:
1. Resource expansion and conversion within and outside the July 2019 resource boundary.
2. High-priority exploration targets established down-plunge of high-grade enrichment vectors.
- Radisson is fully funded to complete the 60,000 m drill program
° Current cash balance of $7.8 M1
° All-in drill costs at O’Brien are averaging $110 - $120/m, well below the industry average.
1 As at 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. 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.