Radisson reports high-grade gold at O’Brien project in Quebec
Radisson Mining Resources (TSXV: RDS; US-OTC: RMRDF) has extended the known gold mineralization 400 metres below its current resource depth of 500 vertical metres at its flagship O’Brien gold project in northwestern Quebec.
The company plans to update the resource estimate for O’Brien—located halfway between Rouyn-Noranda and Val’d’Or—before the end of the first quarter.
Highlights from its latest batch of assays along Trend 2 include 10.65 grams gold per tonne over 4.4 metres from 950 metres in drill hole OB-22-308W4, including 2 metres of 18.48 grams gold. Other notable intervals were 21.84 grams gold over 2 metres from 951 metres, including 61.5 grams gold over 0.70 metre in drill hole OB-22-308W7, including 21.3 grams gold over 2 metres, including 42 grams gold over 1 metre.
The latest assays are from the final results of the Rouyn-Noranda-based company’s 127,600-metre drill program last year at the project.
A resource estimate in 2019 outlined indicated resources of 949,700 tonnes grading 9.48 grams gold for 289,400 oz. and inferred resources add 617,400 tonnes averaging 7.3 grams gold for 145,000 ounces. The resource used a cut-off grade of 5 grams gold and the resource was based on about 140,000 metres of drilling.
The O’Brien project straddles the Larder-Lake-Cadillac Break over 5.2 km and covers 13.5 km.
According to a 2019 technical report, the O’Brien mine produced 1.2 million tonnes grading 15.25 grams gold for a total of 587,121 oz. gold between 1926 and 1957.
At press time in Toronto Radisson was trading at 20¢ within a 52-week trading range of 7.5¢ and 27¢. The junior has about 285 million common shares outstanding for a market cap of roughly $57 million.
