ROUYN-NORANDA, QUEBEC--(Marketwired - Dec 4, 2015) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) ("Radisson") is pleased to announce the start of a surface Diamond-drilling program at the O'Brien project. The first phase of drilling is part of a larger program that will be defined in 2016. A Diamond drill rig will be mobilized at the O'Brien project by mid-December once permits are obtained.
The O'Brien project (figure 1) is located 500 meters north of Trans-Canada highway 117 (road 117), along the Larder-Lake-Cadillac Fault, halfway between Rouyn-Noranda and Val-d'Or two mining town recognized for the presence of skilled workforce and mining contractors.
A target definition report was prepared on the scale of the O'Brien project. It was prepared following recommendations included in the technical report for the O'Brien project mineral resource estimate prepared in accordance with National Instrument 43-101 ("NI 43-101") by independent firm InnovExplo Inc. ("InnovExplo"). The exercise underlines that the O'Brien project remains very little explored outside the resource area and that resource area still shows many significant upsides to potentially increase resources.
The report produced by InnovExplo identifies 94 drilling targets
- 47 targets in the close proximity of preliminary infrastructures currently being produced in the course of the PEA study being prepared at this time
- 41 targets as possible extensions of currently identified ore shoots with likely possibility to define new ore shoots
- 12 exploration targets with strong potential outside the resource area
Extension drill targets are mainly located in 6 areas around current mineral resources of 36E and Kewagama areas (figure 2).
Phase 1 drill program will consist of 6,200 m in area 1 to 5 with purpose of extending known ore shoots with likely possibility of defining new ore shoots.
Historic work and recent studies suggest a strong exploration potential laterally, north and south of areas identified in the current NI 43-101 mineral resource estimate (April 2015). These targets will be integrated in the broader drill program that will be established in 2016. (figure 3)
Preliminary economic assessment completion
Radisson's team is working in close collaboration with independent firms InnovExplo and WSP Inc. in the final steps of the PEA underway. Radisson will publish additional information on the PEA by the end of the fourth quarter.
Qualified Persons
The Independent and Qualified Persons from InnovExplo Inc. for the Mineral Resources Estimate published in April 2015, as defined by NI 43-101, are Pierre-Luc Richard, P.Geo., M.Sc. and Alain Carrier, P.Geo., M.Sc., of InnovExplo Inc. They confirm that they have reviewed this press release and that the scientific and technical information is consistent.
Consultant Yolande Bisson, Eng. MBA, acts as a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the technical information in this release.
About Radisson Mining Resources Inc.
Radisson is a Quebec-based mineral exploration company. The O'Brien project, cut by the regional Larder-Lake-Cadillac Fault, is Radisson's main asset. The former O'Brien Mine, is 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, April 2015).
For more information on Radisson, visit our website at www.radissonmining.com.
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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.