Radisson Drills Deepest Hole at O’Brien Gold Project and First Below O’Brien’s Historic Workings, and Intersects High Grade Gold Mineralization Including 242 g/t Gold over 1 Metre
Radisson Drills Deepest Hole at O’Brien Gold Project and First Below O’Brien’s
Historic Workings, and Intersects High Grade Gold Mineralization Including 242
g/t Gold over 1 Metre
ROUYN-NORANDA, Quebec, Dec. 16, 2024 -- Radisson Mining Resources Inc. (TSX-V: RDS, OTCQB: RMRDF)
(“Radisson” or the “Company”) is pleased to announce results from an important diamond drill hole at its 100%-owned
O’Brien Gold Project (“O’Brien” or the “Project”) located in the Abitibi region of Québec.
OB-24-337 is an exploratory hole drilled to a depth of 1,700 metres, the deepest hole ever drilled at the Project and the first
hole drilled directly below the historic O’Brien Mine workings. At approximately 1,500 metres vertical depth it intersected
sheared and mineralized rocks of the Piché Group, the dominant host rocks for O’Brien gold mineralization, and returned
242.0 g/t gold (“Au”) over 1.0 metre within a mineralized interval that averaged 31.24 g/t Au over 8.0 metres.
Matt Manson, President and CEO, commented: “Following our “Jewellery Box” re-discovery news of December 9, 2024, we are
taking the unusual step of releasing assays from another single drill hole today because of its particular significance to the
future of the O’Brien Gold Project. Hole OB-24-337 was intended to be a pilot hole testing whether the Project’s host geology
extended below the historic mine and to be a platform for future wedging and directional drilling. The fact that this hole
intersected mineralization and visible gold at such a high grade greatly exceeded our expectations. Recall that approximately
75% of our existing Mineral Resource is defined at depths above 600 metres. On September 24 th we announced that drill
hole OB-24-324 had intersected 27.61 g/t Au over 6.0 metres at 1,100 metres vertical depth. Now, we have new gold
mineralization in a classic O’Brien setting at 1,500 metres vertical depth, a full 500 metres below the deepest workings of the
old mine. It is clear that O’Brien gold mineralization is extensive at depth, implying significant future upside potential for the
Project.”
Figure 1: Visible Gold in Drill Hole OB-24-337
Figure 2: Long Section in Oblique View of Gold Vein Mineralization and Mineral Resources at the O’Brien Gold Project, with
Drill Hole OB-337 and Other Recent Deep Drill Holes Illustrated.
Table 1 : Detailed Assay Results from Drill Hole OB-24-337
DDH Zone
From (m) To (m)
Core
Length
(m)
Au g/t –
Uncut
Host
Lithology
OB-24-337 O'Brien Mine
1,507.6 1,508.6 1.0 5.57 POR-S
1,517.7 1,525.7 8.0 31.24 POR-S
Including 1,517.7 1,518.7 1.0 242.00 POR-S
1,550.5 1,552.0 1.5 2.38 V3-CEN
1,610.5 1,611.9 1.4 5.49 V3-N
1,660.5 1,662.7 2.3 3.78 S3P
Notes on Calculation of Drill Intercepts:
The O’Brien Gold Project March 2023 Mineral Resource Estimate (“MRE”) utilizes a 4.50 g/t Au bottom cutoff, a US$1600 gold
price, a minimum mining width of 1.2 metres, and a 40 g/t Au upper cap on composites. Intercepts from drill hole OB-24-337
presented in Table 1 are calculated with a 1.00 g/t bottom cut-off over a minimum 1.0 metre core length so as to illustrate the
frequency and continuity of mineralized intervals within which high-grade gold veins at O’Brien are developed. Intercepts
presented in the deep drill hole compilation in Table 2 are calculated with a 3.00 g/t Au bottom cut-off, representing the lower
limit of cut-off sensitivity presented in the March 2023 Mineral Resource Estimate. Sample grades are uncapped. True widths,
based on depth of intercept and drill hole inclination, are estimated to be 30-70% of core length. Lithology Codes: PON-S3:
Pontiac Sediments; V3-S, V3-N, V3-CEN: Basalt-South, North, Central; S1P, S3P: Conglomerate; POR-S, POR-N: Porphyry
South, North; TX: Crystal Tuff; ZFLLC: Larder Lake-Cadillac Fault Zone
Table 2 : Compilation of All Deep Drill Holes Recently Published (see Radisson News Releases Dated September 24, 2024
and October 30, 2024. See “Notes on Calculation of Drill Intercepts”)
DDH Zone
From (m) To (m)
Core
Length
(m)
Au g/t -
Uncut
Host
Lithology
OB-24-322 Trend #1
1,149.2 1,150.7 1.5 5.25 PON-S3
1,164.8 1,166.2 5.2 8.75 V3-S
including 1,164.8 1,167.6 1.4 27.20 V3-S
1,215.6 1,219.8 4.2 3.20 V3-S
1,234.9 1,236.4 1.5 5.16 V3-S
OB-24-324 Trend #1
1,178.8 1,184.8 6.0 27.61 S1P
including 1,182.6 1,183.7 1.1 102.00 S1P
1,197.5 1,199.0 1.5 4.64 S1P
1,231.0 1,241.0 10.0 6.83 POR-N/V3-N
including 1,231.0 1,232.5 1.5 40.20 POR-N
1,249.0 1,250.4 1.4 3.78 S3P
OB-23-324W1 Trend #1
1,139.9 1,152.3 12.4 5.48 POR-S
Including 1,141.4 1,145.8 4.4 12.10 POR-S
1,164.3 1,168.5 4.2 8.02 S1P
1,200.0 1,202.9 2.9 3.31 POR-N
OB-24-323 Trend #0
795.0 796.0 1.0 11.85 PON-S3
903.9 914.8 10.9 3.34 V3-S
Including 903.9 905.4 1.5 13.90 V3-S
933.5 934.7 1.2 6.21 V3-CEN
993.4 1,001.6 8.2 3.51 V3-N/S3P
Including 995.4 996.9 1.5 9.93 V3-N
OB-24-337 O'Brien Mine
1,507.6 1,508.6 1.0 5.57 POR-S
1,517.7 1,525.7 8.0 31.24 POR-S
Including 1,517.7 1,518.7 1.0 242.00 POR-S
1,610.5 1,611.9 1.4 5.49 V3-N
1,660.5 1,662.7 2.3 3.78 S3P
Notes
Deep Drill Holes OB-24-321 and OB-24 324W2 did not return any intercepts >3 g/t Au
Figure 3: Cross Section of the Historic O’Brien Mine Locating Drill Hole OB-24-337
Recent Deep Drilling Results
Today’s results from deep drill hole OB-24-337 are from the third batch of drill results released since September that have
shown high grade O’Brien gold mineralization within Piché Group rocks well below the base of the existing Mineral Resource
Estimate (“MRE”). Seven deep drill holes or drill hole wedges have been completed since this time. Six of the seven returned
instances of visible gold and five of the seven returned drill intercepts well above the Project’s grade cutoff in the March 2023
MRE. The holes were drilled at northerly declinations with initial inclinations of between -65 and -85 degrees, followed by
angling to provide a high angle of incidence with the southerly dip of the Piché Group rocks and vein mineralization. Estimated
true widths of drill intercepts at the point of contact with mineralization is estimated to be 30-70% of core length.
Deep drill results since September 2024, summarized in Table 2, have now included:
• OB-24-322 with 8.75 g/t Au over 5.2 metres, including 27.20 g/t Au over 1.0 metre;
• OB-24-324 with 27.61 g/t Au over 6.0 metres, including 102.0 over 1.0 metre, and 6.83 g/t Au over 10.0 metres
including 40.20 g/t Au over 1.0 metre;
• OB-24-324W1 with 5.48 g/t Au over 12.4 metres, including 12.10 g/t Au over 4.0 metres;
and now:
• OB-24-337 with 31.24 g/t Au over 8 metres including 242.0 g/t Au over 1.0 metre;
The frequency and grade of intercepts returned by these deep drill holes, as well as the observed host geology, its
deformation, the style of alteration, and the mineralogical association of the gold mineralization, are all familiar from the
historical O’Brien mine and consistent with the modern geological model developed at shallower depths. The implication is that
characteristic O’Brien style gold mineralization is extensive at depth, well below the level of the historic mine workings and the
current MRE.
Gold Mineralization at O’Brien
Gold mineralizing quartz-sulphide veins at O’Brien occur within a thin band of interlayered mafic volcanic rocks,
conglomerates, and porphyric andesitic sills of the Piché Group occurring in contact with the east-west oriented Larder Lake-
Cadillac Break (“LLCB”). Gold, along with pyrite and arsenopyrite, is typically associated with shearing and a pervasive biotite
alteration, and developed within multiple Piché Group lithologies and, occasionally, the hanging-wall Pontiac and footwall
Cadillac meta-sedimentary rocks.
As mapped at the historic O’Brien mine, and now replicated in the modern drilling, individual veins are generally narrow,
ranging from several centimetres up to several metres in thickness. Multiple veins occur sub-parallel to each other, as well as
sub-parallel to the Piché lithologies and the LLCB. Individual veins have well-established lateral continuity, with near-vertical,
high-grade shoots developed over significant lengths. The historic O’Brien mine produced over half a million ounces of gold
from such veins and shoots at an average grade exceeding 15 g/t and over a vertical extent of at least 1,000 metres.
Based on drilling complete to the end of 2022, the Project has estimated Indicated Mineral Resources of 0.50 million ounces
(1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources of 0.45 million ounces (1.60 million tonnes at
8.66 g/t Au). Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Current exploration is focussed on delineating well developed vein mineralization to the east of the historic mine, with
additional high-grade shoots becoming evident in the exploration data over what has been described as a series of repeating
trends (“Trend #s 0 to 5”).
Table 3 : Drill Hole Collar Information for Holes contained in this News Release
DDH Zone Easting Northing Azimuth Dip Hole Length
(m)
OB-24-321 Trend #1 693952 5345216 10.0 -77 1065
OB-24-322 Trend #1 694197 5345102 0.0 -85 1339
OB-24-323 Trend #0 693953 5345212 335.0 -79 1014
OB-24-324 Trend #1 694219 5345107 343.0 -80 1256
OB-24-324W1 Trend #1 694209 5345402 9.3 -64 290
OB-24-324W2 Trend #1 694202 5345348 6.6 -65 147
OB-24-337 O'Brien Mine 693700 5345070 346.0 -80 1695
QA/QC
All drill cores in this campaign are 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 10 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 for quality
assurance and quality control (QA/QC) program.
Qualified Person
Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Mr. Richard Nieminen,
P.Geo, (QC), a geological consultant for Radisson and a Qualified Person for purposes of NI 43-101. Mr. Nieminen is
independent of Radisson and the O’Brien Gold Project.
Radisson Mining Resources Inc.
Radisson is a gold exploration company focused on its 100% owned O’Brien Gold Project, located in the Bousquet-Cadillac
mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. The Bousquet-Cadillac mining camp
has produced over 25 million ounces of gold over the last 100 years. The Project hosts the former O’Brien Mine, considered to
have been Québec’s highest-grade gold producer during its production. Indicated Mineral Resources are estimated at 0.50
million ounces (1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources estimated at 0.45 million
ounces (1.60 million tonnes at 8.66 g/t Au). Please see the NI 43-101 “Technical Report on the O’Brien Project, Northwestern
Québec, Canada” effective March 2, 2023, Radisson’s Annual Information Form for the year ended December 31, 2023 and
other filings made with Canadian securities regulatory authorities available at www.sedar.com for further details and
assumptions relating to the O’Brien Gold Project.
For more information on Radisson, visit our website at www.radissonmining.com or contact:
Matt Manson
President and CEO
416.618.5885
Kristina Pillon
Manager, Investor Relations
604.908.1695
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation
that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Forward-looking
statements including, but are not limited to, statements with respect to planned and ongoing drilling, the significance of drill
results, the ability to continue drilling, the impact of drilling on the definition of any resource, the ability to incorporate new
drilling in an updated technical report and resource modelling, the Company's ability to grow the O’Brien project and the ability
to convert inferred mineral resources to indicated mineral resources. Any statement that involves discussions with respect to
predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance
(often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's
view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends"
or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or
"will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are
intended to identify forward-looking information. Except for statements of historical fact relating to the Company, certain
information contained herein constitutes forward-looking statements Forward-looking information is based on estimates of
management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the companies to be materially different from any future
results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among
others, risks relating to the drill results at O’Brien; the significance of drill results; the ability of drill results to accurately
predict mineralization; the ability of any material to be mined in a matter that is economic. Although the forward-looking
information contained in this news release is based upon what management believes, or believed at the time, to be
reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results
will be consistent with such forward-looking information, as there may be other factors that cause results not to be as
anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and
completeness of any such forward-looking information. The Company believes that this forward-looking information is based
on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-
looking statements included in this press release should not be unduly relied upon. The Company does not undertake, and
assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained
herein to reflect new events or circumstances, except as may be required by law. These statements speak only as of the date
of this news release.
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 news release. No stock exchange, securities
commission or other regulatory authority has approved or disapproved the information contained herein.
Three photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/0e6a2706-2f60-4445-ae2b-5dfbbcd3f8d7
https://www.globenewswire.com/NewsRoom/AttachmentNg/49406a2a-8bd9-453e-953c-377a7b7cf998
https://www.globenewswire.com/NewsRoom/AttachmentNg/17ed224a-1829-4499-8f05-f18a2de42b6f