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Radisson Moves Ahead With its 2013 Business Plan

Apr 23 2013 12:00AM

Marketwire

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ROUYN-NORANDA, QUEBEC -- (Marketwired) -- 04/23/13 -- Radisson Mining Resources Inc. (TSX VENTURE: RDS) would like to provide an update on the development of its 2013 business plan.

Radisson is about to undertake a new resource estimate on the O'Brien/Kewagama project.

More than 91 drill holes that were not part of the resource estimate by Scott Willson RPA in 2007 will be added to this new estimate. Many of these holes that post-date the last resource estimate are located in Zone 36, while others are in the Kewagama sector, which has not yet been the subject of such an estimate.

"The new updated resource estimate could serve as a lever for our Company's development," said President of Radisson, Mario Bouchard. "There are several very encouraging assay results for the Kewagama Zone, which has not yet been the subject of such an estimate. Following this new resource estimate, Radisson will have important strategic decisions to make to achieve the full potential of the O'Brien/Kewagama project's value."

Radisson is also pleased to report results from the 2012 drilling program.

Hole OB12-22, located on the boundary between Zone 36 and the Kewagama Zone was drilled to check the continuity of the high grade intersection cut by hole RM11-03, which yielded 32.3 g/t Au (uncut) in the north porphyry (press release of June 1, 2011). Although it deviated from its target, hole OB12-22 still intersected 13.22 g/t Au over 0.50 metres, which reflects the setting of the old O'Brien mine. However, this sector is also affected by a corridor of intense shearing and late faults.

The three holes also returned gold intersections in Pontiac Group sandstone. This sandstone is located south of the formations with O'Brien-type mineralization. There was visible gold in two of the three holes. In the area of line 4700 E, the system of veins and veinlets intersected showed a clear continuity between holes OB12-22 and RM11-03, and hole 2130-21 (located about 40 feet further west), in which that zone had previously been interpreted as being the 2V structure. The zone is about 230 feet long, along dip, between the hole closest to the surface (projection of 2130-21) and hole OB12-22. The 2V structure was also identified in hole OB08-161 (Line 4500 E), which returned 3.18 g/t Au over 3.8 metres (core length) and also contained visible gold. This intersection lies about ten feet above level 750 feet, that is, 375 vertical feet deeper than the intersection in hole OB12-22. The 2V structure has also been identified further west on the property. These gold intersections reveal the exploration potential of the Pontiac sector.

2012 drilling results

----------------------------------------------------------------------------Hole From To Core Grade Section Zone length (East)----------------------------------------------------------------------------No. (m) (m) (m) g/t Au local grid----------------------------------------------------------------------------OB 12-20 541.92 542.32 0.40 2.64 45+00 Pontiac sandstone---------------------------------------------------------------------------- 620.87 621.97 1.10 1.61 south volcanics---------------------------------------------------------------------------- 652.82 660.55 7.73 1.14 south volcanics---------------------------------------------------------------------------- 674.60 680.10 5.50 1.98 south porphyry---------------------------------------------------------------------------- 683.45 684.45 1.00 1.47 central volcanics---------------------------------------------------------------------------- 695.34 698.37 3.03 1.38 conglomeratic sandstone---------------------------------------------------------------------------- 706.30 708.07 1.77 1.45 north porphyry---------------------------------------------------------------------------- 715.20 716.33 1.13 0.73 north volcanics--------------------------------------------------------------------------------------------------------------------------------------------------------OB 12-21 775.00 775.80 0.80 4.21 45+15 Pontiac sandstone; visible gold.---------------------------------------------------------------------------- 864.15 865.15 1.00 3.52 south volcanics---------------------------------------------------------------------------- 889.00 894.79 5.79 1.75 south volcanics---------------------------------------------------------------------------- 908.00 914.65 6.65 0.78 south porphyry + conglomeratic sandstone---------------------------------------------------------------------------- 908.00 935.55 27.55 0.28 conglomeratic sandstone + north porphyry---------------------------------------------------------------------------- 983.57 984.77 1.20 1.30 north sandstone (+ mafic tuff)---------------------------------------------------------------------------- 995.70 997.20 1.50 1.89 ultramafics, Cadillac Fault zone--------------------------------------------------------------------------------------------------------------------------------------------------------OB 12-22 132.75 133.50 0.75 6.55 47+00 Pontiac sandstone; visible gold.---------------------------------------------------------------------------- 145.10 145.90 0.80 1.51 Pontiac sandstone---------------------------------------------------------------------------- 186.40 188.58 2.18 4.14 mixture: south volcanics + chl. sandstone---------------------------------------------------------------------------- 245.10 246.18 1.08 1.34 south volcanics---------------------------------------------------------------------------- 254.50 262.19 7.69 1.91 south porphyry----------------------------------------------------------------------------including 254.50 255.50 1.00 5.8----------------------------------------------------------------------------and including 261.69 262.19 0.50 13.22---------------------------------------------------------------------------- 268.85 273.20 4.35 1.65 conglomeratic sandstone + north porphyry---------------------------------------------------------------------------- 286.90 287.90 1.00 1.27 north volcanics----------------------------------------------------------------------------



All drill core in this program is NQ in size. The core was sawed in half, bagged and sealed before being transported directly by the Company to Laboratoire Expert Inc., in Rouyn-Noranda, Quebec, an independent accredited laboratory. One half of the sawn core was systematically assayed using standard processing by fire assay with atomic absorption finish; the other half was retained for future reference. The fine and coarse fractions of samples containing visible gold were analyzed (metallic sieve procedure). Samples with a grade of more than 3 g/t Au were re-analyzed using this method. Analyses performed during this drilling program by Radisson are subject to a quality assurance and quality control (QA/QC) program, with standard reference materials and blanks inserted prior to shipment.

The 2012 exploration program on Radisson's O'Brien/Kewagama project was planned and supervised by Eugene Gauthier, Eng., a consultant for Radisson Mining Resources at the time.

Consultant Yolande Bisson, Eng. MBA, acts as a Qualified Person for the Company and has reviewed the contents of this release.

ABOUT RADISSON MINING RESOURCES:

Radisson is a Quebec-based mineral exploration company. Radisson's main asset, the O'Brien/Kewagama project is located on the Cadillac Break, 5 km west of the Lapa gold mine and approximately 4 km southeast of the LaRonde mine, both owned by Agnico-Eagle.

The project hosts the O'Brien Mine, which is considered the highest grade gold producer of the Abitibi Greenstone Belt (production of 1,302,000 tons at 0.448 oz/t from 1933 to 1956).

The Company's exploration work on the project has made it possible to estimate the presence of 218,540 ounces of gold (indicated resource) (based on an indicated resource of 270,000 tons at an uncut grade of 0.56 oz/ton and an inferred resource of 182,000 tons at an uncut grade of 0.37 oz/t) as defined in the Scott Wilson RPA NI 43-101 report of May 2007. These resources, all above the 650-metre level, are located about 600 metres east of the main shaft of the old O'Brien mine, and make up the gold zone know as Zone 36. Zone 36 is interpreted as a complex of veins and veinlets similar in nature and characteristics to those extracted from the O'Brien Mine, including high-grade zones.

In 2011, the Company carried out two drilling programs. Many of the holes were drilled in the largely unexplored area east of the underground infrastructure of the old Kewagama mine. Some of the holes led to new discoveries (press release of June 1, 2011) and others confirmed the exploration potential suggested by certain historical drilling in this area. These drilling programs also helped to better define the eastern extension of Zone 36 mineralization.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contacts:
Mario Bouchard
President and CEO
Tel. : 819-797-0606
mbouchard@radissonmining.com

Donald Lacasse, Eng.
Vice President, CFO and Secretary-Treasurer
Tel. : 819-797-0606
dlacassse@radissonmining.com
Website:www.radissonmining.com





Source: Marketwire


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