Business
Radisson Mining Resources doubles resource estimate at the O’Brien gold project in Quebec
Press release highlights: Indicated resources increased 58% to 1,517,000 tonnes grading 10.26 g/t Au for 501,000 ounces using a 4.5 g/t gold cut off grade. Infe
About this update from Radisson Mining Resources Inc.
[{"type":"text","content":" Press release highlights: Indicated resources increased 58% to 1,517,000 tonnes grading 10.26 g/t Au for 501,000 ounces using a 4.5 g/t gold cut off grade. Inferred resources increased 167% to 1,616,000 tonnes grading 8.64 g/t Au for 449,000 ounces using a 4.5 g/t gold cut off grade. A large portion of the Indicated and Inferred resources added have been defined within the same vertical footprint as the previous resource estimate. The new Mineral Resource Estimate (“MRE”) is based on (see 3D video): 127,600 m of additional drilling since last update in July 2019. (see Figure 1) The inclusion of the O’Brien West area (including 8,060 m of historical drilling) “This announcement represents a significant milestone for Radisson, and we are extremely pleased to share the results of 4 years of dedicated and focused work. Getting close to 1 M Oz in Indicated and Inferred resources while improving an already enviable gold grade is truly an accomplishment that we are proud to share today. As we say, grade is “King” as it provides margin which is the most critical differentiator of our business. Truly, the new geological interpretation has been validated and allowed us to expand the footprint of the O’Brien gold project. Furthermore, we also need to note that our successful drilling rate is providing us the confidence that we will be able to grow our resources even further. Globally, there are very few gold projects located in a world-class jurisdiction like the Abitibi, Quebec that have the scale, untapped potential, and the high-grade profile of O’Brien. Results from the MRE have confirmed the geological and growth potential our model was predicting. The geological model is robust and the strong continuity of the high-grade zones at O’Brien has been demonstrated. The historic O’Brien was already the highest gold grade mine in the province of Quebec, today, with all our high-grade zones open at depth, a strong model supported by our successful drilling rate, and a largely untested 5.2 km strike potential on the Larder-Lake-Cadillac Break, we firmly believe we have yet to see the real potential of the O’Brien project. Our team is actively planning the next phase of growth for the asset while concurrently evaluating all options that can deliver significant value for our shareholders” Commented Denis V. Lachance, Interim President and Chie...