Radisson Mining Resources Inc.: 25% Increase in Inferred Resources of Zone 36 East, O'Brien Project
06.11.2013 | Marketwire
ROUYN-NORANDA, QUÉBEC -- (Marketwired - Nov. 6, 2013) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) is pleased to announce the recent update the mineral resource estimate of Zone 36 East of Radisson's 100%-owned O'Brien project, located in Cadillac, Abitibi, province of Québec.The mineral resource estimate presented in the National Instrument 43-101 technical report was prepared by Roscoe Postle Associates Inc. (RPA) using 3D block modeling. The update includes all exploration work from 2007 to 2012 on Zone 36 East. "A new mineral resource estimate was a necessity because of the backlog in compilation of exploration work since 2007," said Radisson's president, Mario Bouchard.
Highlights of the 2013 technical report on Zone 36 East include:
- A 25% increase in inferred resources, from 53,000 to 67,000 ounces Au
- A 9% increase in indicated resources, from 97,000 to 106,000 ounces Au
- A cut-off grade of 0.10 oz/st (short ton) was used compared to 0.17 oz/st in 2007
- More conservative capping of high grades, now reduced to 1.5 oz/st from 2.0 oz/st in 2007; the mineralization of Zone 36 East is very sensitive to capping of high grades
- A minimum horizontal width of 6 feet was used for vein modeling, versus 4 feet in 2007; the horizontal thickness of the modeled veins ranges from 6.5 to 7.1 feet, the average thickness being 6.9 feet.
Summary of current mineral resources - October 2013 - Zone 36 East of the O'Brien project:
Category Tonnage (st) Grade (oz/st Au) Au content (oz)
Indicated 560,000 0.19 106,000
Inferred 317,000 0.21 67,000
Notes:
1. The CIM (2010) definitions were used to define mineral resources.
2. Mineral resources were estimated using a cut-off grade of 0.10 oz/st Au.
3. High-grade samples were capped at 1.5 oz/st.
4. The mineral resources were estimated using a long-term price per ounce of gold of US$1,600 and a USD/CAD exchange rate of 1.0.
5. A minimum horizontal width of 6 feet was used for vein modeling.
6. A 12 ft3/t tonnage factor was used.
7. Totals may not add up due to rounding.
8. There are currently no mineral reserves on the O'Brien property.
According to RPA, there is potential for converting inferred mineral resources of Zone 36 East to indicated mineral resources with additional drilling. RPA also considers that the eastern extension of Zone 36 East up to the Kewagama property is still open and that follow-up exploration on the 2011 and 2012 results is warranted. The Kewagama mineralization may be similar in nature to that of the Zone 36 East.
"The overall impact of these choices and adjustments has led to an increase in estimated ounces, despite lower average grades than in 2007," said Radisson's president, Mario Bouchard. "This update of the estimated mineral resources, in addition to increasing the ounces of gold, provides a firm basis for development of the full potential of the O'Brien project and for a possible preliminary economic assessment (PEA) of Zone 36 East.
RPA's qualified persons responsible for this resource estimate are Robert de l'Étoile, Eng. and Bernard Salmon, Eng. They are independent of Radisson Mining Resources and confirm that they have reviewed this press release and that the scientific and technical information it contains is consistent with the content of the technical report.
Radisson will file the technical report, in accordance with National Instrument 43-101, on SEDAR within 45 days of this release. Consultant Yolande Bisson, Eng. MBA, acts as a Qualified Person for Radisson as defined in National Instrument 43-101 and has reviewed and approved the information in this release.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Radisson Mining Resources Inc.
Mario Bouchard, President and CEO
819-797-0396
mbouchard@radissonmining.com
www.radissonmining.com