ROUYN-NORANDA, QUEBEC--(Marketwire - Feb. 17, 2011) - Radisson Mining Resources Inc. (News - Market indication) is pleased to announce that the 2011 drill exploration program will begin on its wholly owned O`Brien-Kewagama gold project on February 21, 2011.
The company has received the necessary permitting from the Quebec government allowing it to proceed.
This initial 3000 meter program will focus and target near surface gold mineralization in the eastern area of the project (Kewagama portion)
The O`Brien-Kewagama gold project, located in the Malartic/Cadillac portion of the Abitibi Gold Belt, consists of 36 claims covering 730 hectares straddling the prolific Cadillac Break over a strike length of some three kilometres. From 1933 to 1956 the O`Brien Gold Mine , located on the property, produced 590,000 ounces of gold from 1.3 million tons of ore at a grade of 0.45 ounces of gold per ton, making it the highest grade gold producer in the camp. The mine reached a depth of 3450 feet. The O`Brien-Kewagama project is located approximately five kilometres west of and on strike from Agnico-Eagle`s Lapa gold mine, also centered on the Cadillac Break,and approximately four kilometres southeast of Agnico-Eagle`s Laronde mine, now surpassing 3000 metres (10000 feet) in depth.
Previous exploration by the company on the project resulted in the discovery of a resource of 218,540 ounces (indicated resource of 270,000 tons at an uncut grade of 0.56 ounces of gold per ton, and inferred resource of 182,000 tons at an uncut grade of 0.37 ounces per ton) as defined in the Scott Wilson, Roscoe Postle and Associates National Instrument 43-101 Report of May, 2007. These resources, all outlined above the 650 meter level, are located 800 metres east of the old O`Brien mine workings, and represent a new discovery of high grade mineralization of the same type produced from the O`Brien gold mine.
During the year 2010, management undertook a complete re-evaluation and re-interpretation of the gold mineralization and geology of the O`Brien-Kewagama Project, in light of the new discoveries and mines in the Abitibi Gold Belt (Osisko, Lapa, Goldex). This work now clearly shows that in addition to the high grade structures and their significant depth potential, there exists other types of gold mineralization on the project, including lower grade, larger width structures, porphyry gold mineralization of the Osisko type, and gold in iron formations.
Further news will be released as available.
Eugene Gauthier, Ing (OIQ) acts as the independent qualified person for the company and has reviewed the contents of this release.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
