Radisson Mining Resources Inc. [RDS-TSXV; RMRDF-OTC] on Wednesday May 5 reported more high-grade gold intercepts from the ongoing 130,000-metre exploration and drill program at its 100%-owned Oâ€™Brien gold project located along the Larder-Lake-Cadillac Break, halfway between Rouyn-Noranda and Val-dâ€™Or, Quebec.
Highlights from drilling at depth along high-grade trend #2 include 13.90 g/t gold over 8.20 metres, 8.87 g/t over 5.00 metres and 18.87 g/t over 1.20 metres. The company said the results underline the resource expansion potential at depth along trend #2 at the Oâ€™Brien project.
On Wednesday, Radisson shares eased 3.6% or $0.01 to 26.5.5 cents. The shares are currently trading in a 52-week range of 15 cents and 40 cents.
Oâ€™Brien is Radissonâ€™s flagship project. It hosts the former Oâ€™Brien Mine, considered to have been the Abitibi Greenstone Beltâ€™s highest-grade producers during its productive years 1926 to 1957 when it produced 1.19 million tonnes at 15.25 g/t gold or 587,121 ounces of gold.
Radisson recently filed a technical report containing a new resource estimate. Using a 5.00 g/t cut-off grade, the project is estimated to contain an indicated resource of 949,700 tonnes at 9.48 g/t gold, for a total of 289,400 ounces of gold.
On top of that is an inferred resource of 617,400 tonnes at 7.31 g/t gold, for a total of 145,000 ounces of gold.
Drilling continues to define and expand three high-grade mineralized trends approximately 300 metres, 600 metres and 900 metres, respectively, east of the old Oâ€™Brien Mine. Mineralized trends identified so far bear similarities with structures previously mined at Oâ€™Brien down to a depth of 1,100 metres.
The 130,000-metre drill program was launched in August, 2019. So far, 79,776 metres have been completed with results pending for 13,760 metres.
â€œWe look forward to a steady stream of news flow as we step out systematically further along strike and deeper beyond the limits of drilling to date, including high potential targets to the west of the old Oâ€™Brien Mine,â€ said Radisson interim CEO Rahul Paul.
The company said drill results so far have traced high-grade gold mineralization down to 800 metres vertical depth in a sector where the majority of currently defined resources are within a vertical depth of 400 metres from surface.
It said results continue to demonstrate continuity of mineralization below 400 metres, within an area measuring approximately 400 metres vertically and up to a minimum of 120 metres laterally.