Business
Radisson Resumes Exploration at the O’Brien Gold Project
ROUYN-NORANDA, Quebec, May 12, 2020 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF): (“Radisson” or the “Company") announces today t
About this update from Radisson Mining Resources Inc.
[{"type":"text","content":" ROUYN-NORANDA, Quebec, May 12, 2020 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF): (“Radisson” or the “Company\") announces today that in line with the Governement of Quebec announcement on May 7, 2020, it is resuming exploration activities at the O’Brien gold project. The 100% owned O’Brien gold project is located along the Larder-Lake-Cadillac Break, halfway between Rouyn-Noranda and Val-d’Or in Abitibi-Témiscamingue, Quebec. Pursuant to the Government of Quebec directives, the head-office remains closed and teleworking remains in place for all departments else than for exploration activities at the O’Brien gold project. To date, Radisson has had no suspected or confirmed cases of COVID-19 and had implemented a specific COVID-19 protocol on March 12 to protect its employees. The health and safety of Radisson’s employees, their families and the communities in which we operate remains the main priority of the company. Starting today, the company’s exploration team and drilling contractors will be gradually mobilized at O’Brien to implement COVID-19 working procedures in line with recommendations from the Public Health and reference center (INSPQ) and the Commission des normes, de l'équité, de la santé et de la sécurité du travail (CNESST). Drilling is expected to restart and ramp-up following implementation of the necessary health and safety precautions. The Company estimates drilling activites will restart over the next 5 to 7 days. 60,000 m drilling program Since August 2019, 24,527 m of drilling have been completed. The primary objectives of the 2019/20 drill program are, To validate the 2019 lithostructural model for O’Brien Resource expansion and conversion within and outside the July 2019 resource boundary High-priority exploration targets established down-plunge of high-grade enrichment vectors. See O'Brien gold project longitudinal long section Strong balance sheet and Insiders buying Radisson is fully funded to complete the 60,000 m drill program Current cash balance of $6.6 M1 All-in drill costs at O’Brien are averaging $110 - $120/m, well below the industry average. 1 As at May 7, 2020. Since the beginning of the year, insiders of the Company have acquired a total of 1,341,919 shares of the Company on the TSX Venture Exchange. Management and Insiders ownership currently stands at 10.88%....