Radisson doubles resource estimate at the O’Brien gold project in Quebec
www.radissonmining.com
For immediate release TSX-V: RDS, OTC: RMRDF, FRANKFURT: 2RX
Rouyn-Noranda, Qc
March 2, 2023
Radisson 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.
• Inferred resources increased 167% to 1,616,000 ton nes 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 t o 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 loca ted 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 str ong 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 Chief Executive Officer.
Given our current geological understanding and ref inement of the geological model, the
company estimates there is strong potential for additional high -grade gold trends to be
discovered along the 5.2 km prospective land package on the prolific Larder-Lake Cadillac
Break ( “LLCB”). Mineral resources are ope n for an additional 750 m to the East and
underexplored for 2.5 km to the West of the former O’Brien mine. The continuity of
mineralized zones along steeply plunging trends (80° to 85°) provides good predictability
for resource growth and exploration potential. (see Figure 2)
Significant potential to expand resources with additional drilling as currently modeled
high-grade trends drilled since 2019 in the current resource areas are wide open:
● Trend #0: Open to the West and below 750 m
● Trend #1: Open laterally and below 950 m
● Trend #2: Open laterally and below 900 m
● Trend #3: Open laterally and below 500 m
● Trend #4: Open laterally and below 500 m
Table 1. O’Brien gold project
March 2023 Resource Estimate Compared to July 2019
Cut-off
Grade
Indicated resources Inferred resources
O'Brien
deposit Tonnage Grade Metal Tonnage Grade Metal
Resource date (t) (g/t Au) (oz Au) (t) (g/t Au) (oz Au)
4.5 g/t
Au
July 20191 1,115,000 8.85 318,000 777,000 6.73 168,000
March 2023 1,517,000 10.26 501,000 1,616,000 8.64 449,000
Increase
+402,000 +1.41 +183,000 +839,000 +1.91 +281,000
+36% +16% +58% +108% +28% +167%
3.0 g/t
Au
July 20191 1,906,000 6.67 409,000 1,500,000 5.29 255,000
March 2023 2,118,000 8.46 576,000 3,668,000 5.79 683,000
Increase
+212,000 +1.79 +167,000 +2,168,000 +0.51
+428,000
+11% +27% +41% +144% +10% +168%
Source: Grade sensitivity table published in the NI 43-101 Technical report for the O’Brien project, Abitibi,
Québec, 3D Geo-solution, July 15, 2019
Rouyn-Noranda, Qc Radisson Mining Resources Inc. (TSX -V: RDS, OTC: RMRDF):
(“Radisson” or the “Company") is pleased to announce a significant increase for the
Indicated and Inferred resources in a mineral resource estimate update that establishes
O’Brien as one of the highest -grade gold projects in Quebec with an Indicated Resour ce
grade of 10.26 g/t Au (Table 1). The O’Brien gold project is located along the Larder-Lake-
Cadillac Break (see location map 1 and location map 2), halfway between Rouyn-Noranda
and Val-d’Or in Quebec, Canada.
PDAC 2023 and upcoming webinar
From March 5 th to 7 th the Company will be participating at the PDAC. Investors,
shareholders and interes ted parties are welcome to visit Radisson at booth #2908.
Following the conference, the Company will announce a date at which it will host a webinar
with the focus of discussing the Mineral resource update.
A 3D video of the O’Brien gold project and the Mineral resource estimate is available
here.
Figure 1. O’Brien gold project, longitudinal section looking North – 2023 Mineral
resource estimate at a 4.5 g/t Au cut-off grade
Figure 2. O’Brien gold project, O’Brien East longitudinal section looking North –
2023 Mineral resource estimate at a 4.5 g/t Au cut-off grade
O’Brien March 2023 MRE: Significant increase with 127,600 m of new drilling
A total of 127,600 m of new drilling was completed from late 2019 to mid 2022 at O’Brien
and incorporated into the resource estimate announced today. This is the first resource
estimate at the project since the Company established O’Brien as one of the highest-grade
undeveloped gold projects in Quebec and outlined the opportunity for resource expansion
by targeting the steeply plunging high-grade mineralized shoots located east of the old
O’Brien mine. Most of the drilling conducted as part of the 2019 -2022 campaign has
focused on a 1.2 km portion of the more than the 5.2 km of prospective strike that Radisson
controls along the LLCB.
Total Indicated ounces at a 4.5 g/t Au cut -off grade have increased by 58% compared to
the previous resource estimate. This increase is very positive since the majority of the
Indicated o unces added have been defined within the same vertical footprint as the
previous resource estimate. This demonstrates the Company’s success at converting
Inferred resources into the Indicated category.
Furthermore, total Inferred ounces at a 4.5 g/t Au cu t-off grade have increased by 167%
compared to the previous resource estimate. This increase is mainly explained due to the
success of the drilling program in the extension of Trend #1 and #2 (Figure 2 ). The
conversion success obtained at shallower depth suggests the strong conversion potential
for the Inferred resources on those two trends. The Company notes that additional drilling
below 550 m on those trends could convert additional Inferred resources to Indicated
resources. Such conversion is expected to increase the average grade given the higher
average grade for Indicated resources defined using a reduced drill spacing.
Significant potential to expand resources as a large part of the longitudinal footprint
including the mineralized zones has not been drilled between surface and 1,000 m vertical
depth. The drilling completed by the Company has continued to validate the geological
interpretation while expanding current resources laterally and well below the previous
boundary of defined resources in five main trends that remain open for expansion laterally
and at depth.
O’Brien West (Including former New Alger property):
Exploration potential for future trends / Re-interpretation and resource modelling
Modelling and re-interpretation of drilling data available on the LLCB portion of the New
Alger property (now part of O’Brien West) has allowed to establish Inferred resou rces
totalling 293,000 tonnes grading 7.59 g/t Au for 72,000 ounces.
With approximately 2.5 km of ground along the prolific Larder-Lake-Cadillac Break having
seen limited exploration work in recent years, O’Brien West also remains open in all
direction.
Mineral Resource Estimate for the O’Brien project was prepared by SLR Consulting
(Canada) Ltd. (SLR) using available drill hole sample data as of June 2, 2022. The Mineral
Resource estimate is based on 1,079 drill holes representing 299,200 m of drilling, and
120,352 assay samples.
Mineralized wireframes re presenting vein structures were prepared in Leapfrog Geo
software by Radisson and reviewed and adopted by SLR. Wireframes were defined using
a nominal true thickness of 1.2 m. Block model estimates were completed using Leapfrog
Edge software using full -length composites and a multi -pass inverse distance cubed
interpolation approach. The resource estimation details will be discussed in the Technical
report. The MRE at a 4.5 g/t gold cut-off grade is shown in Table 2.
Table 2. O’Brien gold project
Mineral Resource Estimate, March 2, 2023
Cut-off
Grade
Indicated resources Inferred resources
Tonnage Grade Metal Tonnage Grade Metal
(t) (g/t Au) (oz Au) (t) (g/t Au) (oz Au)
4.5 g/t Au 1,517,000 10.26 501,000 1,616,000 8.64 449,000
Notes
1. CIM (2014) definitions were followed for Mineral Resources.
2. Mineral Resources are reported above a cut -off grade of 4.5 g/t Au based on a C$230/t operating cost and 1.25
exchange rate.
3. Mineral Resources are estimated using a gold price of US$1,600/oz Au and a metallurgical recovery of 85%.
4. Bulk density varies by deposit and lithology and ranges from 2.00 t/m³ to 2.82 t/m³.
5. Vein wireframes were modelled at a minimum width of 1.2 m.
6. A 40 g/t Au capping level was applied.
7. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Table 3. Sensitivity Analysis O’Brien gold project
Mineral Resource Estimate, March 2, 2023
Cut-off
Grade
Indicated resources Inferred resources
Tonnage Grade Metal Tonnage Grade Metal
(t) (g/t Au) (oz Au) (t) (g/t Au) (oz Au)
6.0 g/t Au 1,012,000 12.80 417,000 945,000 11.12 338,000
5.0 g/t Au 1,313,000 11.12 470,000 1,334,000 9.46 406,000
4.5 g/t Au 1,517,000 10.26 501,000 1,616,000 8.64 449,000
4.0 g/t Au 1,770,000 9.40 535,000 2,007,000 7.78 502,000
3.5 g/t Au 2,065,000 8.59 571,000 2,522,000 6.96 564,000
3.0 g/t Au 2,118,000 8.46 576,000 3,668,000 5.79 683,000
*All Indicated and Inferred resources classified at Cut-off-grade of 4.5 g/t Au
QA/QC
All drill cores in t he drilling campaign were NQ in size. Assays were completed on sawn
half-cores, with the second half kept for future reference. The samples were analyzed
using standard fire assay procedures with Atomic Absorption (AA) finish at ALS Laboratory
Ltd, in Val-d’Or, Quebec. Samples yielding a grade higher than 5 g/t Au were analyzed a
second time by fire assay with gravimetric finish at the same laboratory. Mineralized zones
containing visible gold were analyzed with metallic sieve procedure. Standard reference
materials, blank samples and duplicates were inserted prior to shipment as part of the
quality assurance and quality control (QA/QC) program.
Qualified Person
Vivien Janvier, P.Geo., Ph.D., Director, Geology for Radisson is the Qualified Person
pursuant to the requirements of NI 43-101. Mr. Luke Evans, M.Sc., P.Eng., ing., from SLR
Consulting (Canada) Ltd. , is responsible for the completion of the resource update at
O’Brien and is an independent QP as defined by National Instrument 43 -101. The
Company’s QP have reviewed the technical content of this release.
Further detail about the resource estimate will be available in an updated technical report
on O’Brien to be filed within 45 days following the date of this news release.
Radisson mining resources Inc.
Radisson is a gold exploration company focused on its 100% owned O’Brien project,
located in the Bousquet -Cadillac mining camp along the world -renowned Larder -Lake-
Cadillac Break in Abitibi, Quebec. The Bousquet-Cadillac mining camp has produced over
21,000,000 ounces of gold over the last 100 years. The project hosts the former O’Brien
Mine, considered to have been Quebec’s highest -grade gold producer during its
production.
For more information on Radisson, visit our website at www.radissonmining.com or
contact:
Denis V. Lachance
Chairman, Interim President and CEO
819-806-3340
Hubert Parent-Bouchard
Chief Financial Officer
819-763-9969
Forward-Looking Statements
All statements, other than statements of historical fact, contained in this press release
including, but not limited to, those relating to the intended use of proceeds of the Offering,
the development of the O’Brien project and generally, the above “About Radisson Mining
Resources Inc.” paragraph which essentially describes the Corporation’s outlook,
constitute “forward -looking information” or “forward -looking statements” within the
meaning of applicable securities laws, and are based on expectations, estim ates and
projections as of the time of this press release. Forward -looking statements are
necessarily based upon a number of estimates and assumptions that, while considered
reasonable by the Corporation as of the time of such statements, are inherently subject to
significant business, economic and competitive uncertainties and contingencies. These
estimates and assumptions may prove to be incorrect. Many of these uncertainties and
contingencies can directly or indirectly affect, and could cause, actual res ults to differ
materially from those expressed or implied in any forward -looking statements and future
events, could differ materially from those anticipated in such statements. 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.
By their very nature, forward-looking statements involve inherent risks and uncertainties,
both general and specific, and risks exist that estimates, forecasts, projections and other
forward-looking statements will not be achieved or that assumptions do not reflect future
experience. Forward -looking statements are provided for the purpose of providing
information about management’s endeavours to develop the O’Brien project and, more
generally, its expectations and plans rel ating to the future. Readers are cautioned not to
place undue reliance on these forward -looking statements as a number of important risk
factors and future events could cause the actual outcomes to differ materially from the
beliefs, plans, objectives, exp ectations, anticipations, estimates, assumptions and
intentions expressed in such forward -looking statements. All of the forward -looking
statements made in this press release are qualified by these cautionary statements and
those made in our other filings with the securities regulators of Canada. The Corporation
disclaims any intention or obligation to update or revise any forward -looking statements
or to explain any material difference between subsequent actual events and such forward-
looking statements, except to the extent required by applicable law.