Radisson to begin drill program
Thursday, Nov 29, 2012Radisson Mining Resources Inc. (TSX VENTURE:RDS) is pleased to announce the start up of a diamond drill program on its 100% owned O'Brien/Kewagama gold property.
The goal of the program is to explore the depth potential of the gold mineralization below 2000 feet (650meters) in Zone 36, and to potentially increase the present resource.
Previous exploration by the company on the project resulted in the discovery of zone 36 which has an indicated resource of 218,540 ounces (based on an indicated resource of 270,000 tons at an uncut grade of 0.56 ounce per ton and an inferred resources of 182,000 tons at an uncut grade of 0.37 ounce per ton) as defined in the Scott Wilson Roscoe Postle National Instrument 43-101 report of May 2007.
The resource is all contained above 1600 feet deep.
The potential for increasing resources at depth is significant.
Previous drilling in (hole OB 96-75) intersected 12 g/t over 2 meters at a depth of 1500 feet (450 meters).
Previous mining (O'Brien Mine 1933 to 1956) on the project reached a depth of 3450 feet and produced 590,000 ounce of gold at a grade of 0.45 ounces of gold per ton, making it the highest grade gold producer in the camp.
The O'Brien /Kewagama gold projects located in the Malartic/Cadillac portion of the Abitibi gold Belt, consists of 36 claims covering 729 hectares, straddling the prolific Cadillac Break over a strike length of approximately three kilometers.
The O'Brien/Kewagama project is located approximately five kilometers west of and on strike from Agnico-Eagle's Lapa gold mine, also centered on the Cadillac break, and approximately four kilometers southeast of Agnico-Eagle's Laronde mine, now surpassing 3,000 meters (10,000 feet) in depth.
The company has carried out a complete re-evaluation and interpretation of the past exploration results on the project and carried out successfuls drill program, resulting in a new discovery on the largely unexplored eastern portion of the project (Kewagama) (see past press releases).