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ROUYN-NORANDA, QUEBEC–(Marketwired – Aug. 15, 2017) – Radisson Mining Resources Inc. (TSX VENTURE:RDS)(OTC:RMRDF) (“Radisson” or the “Company”) is pleased to announce that it has initiated a 42 km Induced Polarization (IP) geophysical survey on it’s 100% owned Douay property. The property is located in the Eeyou Istchee James Bay territory, approximately 215 km north of Val-d’Or, Quebec and accessible via Provincial Highway 109. Located in the north-central part of the Abitibi Greenstone Belt along the Casa-Berardi-Cameron Deformation Zone, the property consists of a 16 km2 land package bordered to the west, east and south by Aurvista Gold Corporation’s Douay Gold Project (See figure 1) (TSX VENTURE:AVA)(OTCQB:ARVSF) (“Aurvista“).
Radisson owns 100% of the Douay property, free of any royalty, options or outstanding agreements and has excess work credits in the amount of $ 546,216.
First phase of work
Of late, the Douay area has witnessed intensified staking activity and attracted investor interest due to increasing exploration activities in the area. The Company’s first phase of work included a geoscientific compilation of all exploration work completed on and nearby the Douay property. This work has included compilation and interpretation of geological structural, geochemical and geophysical data on a regional scale. In addition, the Company has compiled all historic diamond drilling, EM (Input) geophysical anomalies and data from an IP survey (GM 52723, Jonpol project) completed on and immediately adjacent to the Douay property. A total of 108 historical drill holes drilled in the area have been compiled to better define the mineralized zones. This includes 12,980 meters of drilling completed between 1982 and 1987 on 55 drill holes located on the Radisson’s Douay property.
Interpretation of the historic data has defined four gold trends and high-priority exploration targets that remain to be tested on the Douay property. The four gold trends are referred to as the Harricana deformation zone, the Douay deformation zone, the Vezza mine gold trend and Northway as depicted on figure 2. These four gold trends have been the focus of historic exploration activity, including drilling programs.
Radisson intends to complete an IP survey to identify new drilling targets on the interpreted Vezza mine gold trend (See figure 2).
O’Brien gold project update
Radisson’s focus remains on the O’Brien gold project where the company continues to advance its exploration and development program. To this extent, Radisson has completed 24 drill holes for approximately 11,000 meters of drilling from April to the end of July. This has included 14 drill holes targeting down-dip extensions of the F Zone, 36E and Kewagama mineralized zones with the aim of increasing current resources. In addition, the Company has completed 10 drill holes testing high-priority exploration targets parallel (i.e. to the north and south) and along strike of the O’Brien deposit.
Tony Brisson, P. Geo, independent consultant, acts as a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the technical information in this press release.
About Radisson Mining Resources Inc.
Radisson is a Quebec-based mineral exploration company. The O’Brien project, cut by the regional Larder-Lake-Cadillac Fault, is Radisson’s main asset. The former O’Brien Mine, is considered to have been the Abitibi Greenstone Belt’s highest-grade gold producer during its production (1,197,147 metric tons at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957; InnovExplo, April 2015).
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For more information on Radisson, please visit our website at www.radissonmining.com.
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 release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.
Forward-Looking Statements: This press release may contain certain forward-looking information. All statements included herein, but other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. 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.
President & Chief Executive Officer
Tue, 15 Aug 2017 12:30:00 GMT