ROUYN-NORANDA, Quebec, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF) ('Radisson' or the 'Company") and its interim CEO and President are pleased to share some year-ends thoughts.
As 2022 nears to an end, I wanted to take this opportunity to share with you a summary of the developments and activities the Radisson Team carried out during the year, as well as highlight some of the milestones we achieved. In June 2022, we completed our largest ever diamond drilling program. The 127,600 meters campaign was initiated in late 2019, a total of 256 holes were drilled.
Out of the 246 holes published so far, 85% (208 intercepts) returned assays above 3 g/t Au. Results confirm the very high-grade nature of our gold system and its extension at depth and along strike of the old O'Brien mine, considered the richest mine by grade in Quebec. We see this as a clear sign that we are on the right track to significantly unlock the full potential of the O'Brien project.
Figure 1. The O'Brien gold project – 5.2km longitudinal section In July we were very excited to welcome Vivien Janvier, P. Geo., Ph.D., as our new Director of Geology and Exploration.
Our initial enthusiasm just increased, when Vivien quickly took the lead for the results compilation from the last drilling campaign to pave the way for an upcoming MRE update at O'Brien. Vivien and the team are currently reviewing the assays results, identifying key take aways from the drilling program and pursuing the historical data compilation to leverage more than 75 years of work at O'Brien. Under the technical leadership of Vivien, Radisson is currently busy preparing a 43-101 mineral resource estimate update for O'Brien, which we are targeting to release in the first half of 2023.
This long-awaited update is expected to become a pivotal catalyst for our project. Combined with the ongoing work, it's expected to define the next phase for O'Brien. With an Indicated grade of 9.48 g/t Au, the O'Brien project is already one of the highest-grade undeveloped gold projects in Canada, and we are looking forward to the resource update.
In parallel to our exploration efforts, as part of its sustainability strategy, the Company has been busy working on its UL Ecologo ® certification. We are targeting our certification to be completed in the first half of 2023. We would like to recognize all the efforts made by our team on the ground, as well as the continued support of the AEMQ through this process.
Finally, as we turn the page on 2022, and despite continued challenging market conditions for exploration companies, I am also happy to report that by completing a $1.7M financing in early December, we have positioned our Company for the catalysts ahead in 2023. I could not complete this short address without thanking all our shareholders and our surrounding communities and stakeholders who share the passion and commitment in our journey. I would like to specially acknowledge and thank each one of the members of the Radisson team, who continue to work and share our vision and determination.
Finally, to the members of the board, my personal thanks for your continued encouragement, wisdom, and guidance. Together, we will continue to develop Radisson's assets and embark on a transformational 2023 with renewed excitement and optimism. Warm holiday wishes and a prosperous year in 2023! Best regards, Denis V.
LachanceChairman, Interim President and CEO Radisson mining resources Inc. Radisson is a gold exploration company focused on its 100% owned O'Brien project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Quebec. The Bousquet-Cadillac mining camp has produced over 21,000,000 ounces of gold over the last 100 years.
The project hosts the former O'Brien Mine, considered to have been Quebec'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; Kenneth Williamson 3DGeo-Solution, July 2019). For more information on Radisson, visit our website at URL or contact: Denis V. LachanceChairman, Interim President and EMAIL