Radisson SEDAR files NI 43-101 Technical report for the Updated O'Brien Resource estimate
Press release highlights:
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• The O’Brien gold deposit at a 3.5 g/t gold (“Au”) cut-off base case
- 95% Increase for the Indicated resources totalling 233,491 oz grading 6.45 g/t Au
- 3% Increase for the Inferred resources totalling 194,084 oz grading 5.22 g/t Au
• The O’Brien project remains open below depth of 600 meters.
• Results from 29,787 m of drilling incorporated in the resource estimate update
• The F Zone, contiguous and to the West of 36E area was not incorporated in the update, the Company evaluates the F Zone represents an excellent growth opportunity at O’Brien. (See 3D metal factor section of the Piché Group looking northeast)
• One drill rig currently in operation at O’Brien on a recently expanded 11,000 m drill program
ROUYN-NORANDA, Québec, May 03, 2018 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V:RDS) (OTC:RMRDF) (“Radisson” or the “Company") is pleased to announce it has filed on the SEDAR the independent NI 43-101 technical report (the “Report”) for the resource estimate update of the O’Brien gold project located along the Larder-Lake Cadillac Break (“L-L-C”) halfway between the two mining towns of Rouyn-Noranda and Val-d’Or, PQ. (See figure 2)
The report is available on SEDAR and on Radisson’s new website to the link below. The report supports Radisson’s opportunity of exploring and developing a high-grade gold project located along a major fault, within a world-renowned mining camp and host of a historical high-grade production (1,197,147 metric tons at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957; InnovExplo, March 2018);
O’Brien resource update – Substantial growth
The report filed today incorporates 29,787 of drilling completed at O’Brien in 2016 and 2017. A substantial conversion of Inferred ounces into Indicated ounces is shown in the report, including a 95% increase in Indicated resources at a 3.5 g/t Au cut-off. In parallel, the company was able to renew transferred Inferred resources, including a 3% increase. These results suggest that ongoing drilling at O’Brien could continue to have a positive impact on resources.
2018 O’Brien Project Mineral Resource Estimate at a 3.50 g/t Au cut-off,
Sensitivity at other cut-off scenarios
| Indicated resources | Inferred resources | |||||||
| Zones | Cut-off | Tonnes | Grade (g/t Au) | Ounces (Au) | Tonnes | Grade (g/t Au) | Ounces (Au) | |
| All zones | 2.5 | 1,800,104 | 5.14 | 297,466 | 2,054,524 | 4.22 | 278,644 | |
| 3.0 | 1,409,734 | 5.81 | 263,108 | 1,519,190 | 4.74 | 231,612 | ||
| 3.5 | 1,125,447 | 6.45 | 233,491 | 1,157,021 | 5.22 | 194,084 | ||
| 4.0 | 910,885 | 7.09 | 207,696 | 830,615 | 5.80 | 154,833 | ||
| 4.5 | 751,753 | 7.70 | 186,019 | 538,938 | 6.65 | 115,140 | ||
| 5.0 | 624,734 | 8.30 | 166,671 | 416,123 | 7.21 | 95,508 | ||
| Notes to Accompany Mineral Resource Table: | |
| 1. | The independent qualified person for the 2018 MRE, as defined by NI 43‑101, is Christine Beausoleil, P. Geo, of InnovExplo Inc. The effective date of the estimate is March 20, 2018. |
| 2. | The Mineral Resources are classified as Indicated and Inferred Mineral Resources and are based on the 2014 CIM Definition Standards. |
| 3. | These Mineral Resources are not Mineral Reserves, as they do not have demonstrated economic viability. |
| 4. | Results are presented in-situ and undiluted. |
| 5. | Sensitivity was assessed using cut-off grades from 2.5 g/t Au to 5.0 g/t Au. The official in-situ resource is reported at a cut-off grade of 3.5 g/t Au. Cut-off grades must be re-evaluated in light of prevailing market conditions (gold price, exchange rate and mining cost). |
| 6. | A top cut of 30 g/t gold (5.0 g/t gold for the dilution envelope) was applied to assay grades prior to compositing grades for interpolation into model blocks using an inverse distance squared (ID2) method and was based on 0.75 m composites within a block model made of 3 m long x 3 m wide x 3 m high blocks. |
| 7. | Density data (g/cm3) was established at 2.75 g/cm3. |
| 8. | A minimum true thickness of 1.5 m was applied, using the grade of the adjacent material when assayed or a value of zero when not assayed for 17 different mineralised zones. |
| 9. | The number of metric tons and ounces was rounded to the nearest hundred. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in Form 43‑101F1. |
| 10. | InnovExplo is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, marketing or other relevant issues that could materially affect the mineral resource estimate. |
Next steps
As announced on April 24 2018, Radisson is pursuing the recently expanded 11,000 m drill program with main targets on:
- The F Zone, excluded from current resources, thus, representing an excellent growth potential for the O’Brien project (4,000 m planned),
- The near-surface vertical extension of the enrichment factor defined on 36E area through the historical drill core re-logging and assaying program (1,200 m planned).
Current work will allow the company to define a drill program below depth of 550 meters where all sectors of the O’Brien gold project remain open.
Qualified Person
Catherine Jalbert, P. Geo, acts as a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the technical information in this press release.
The Independent and Qualified Person for the Mineral Resources Estimate update, as defined by NI 43-101, is Christine Beausoleil, P.Geo., of InnovExplo Inc and confirms she has reviewed this press release and that the scientific and technical information is consistent.
About Radisson Mining Resources Inc.
Radisson is a Quebec-based mineral exploration company. The O’Brien project, cut by the regional Cadillac Break, is Radisson’s flagship asset. The project hosts the former O’Brien Mine, considered to have been the Abitibi Greenstone Belt’s highest-grade gold producer during its production (1,197,147 metric tons at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957; InnovExplo, March 2018).
For more information on Radisson, visit our website at www.radissonmining.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This press release may contain certain forward-looking information. All statements included herein, including the scheduled Closing date, but other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. 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.
Two figures accompanying this announcement are available at:
http://resource.globenewswire.com/Resource/Download/9ca6c868-a3b7-4ab0-a418-b74539532d46
http://resource.globenewswire.com/Resource/Download/cf2b409a-b166-4f22-a828-afc94f04e0f3
Hubert Parent-Bouchard Corporate Development 819-763-9969 hpbouchard@radissonmining.com