Diamond Drilling Begins on the Detour East Property (Former Gygnac and Massicotte Properties)
(firmenpresse) - ROUYN-NORANDA, QUEBEC -- (Marketwire) -- 10/11/11 -- Radisson (TSX VENTURE: RDS) is pleased to announce that Balmoral Resources Ltd., its partner in the development of the "Detour East" property, has advised it that initial drill testing of gold exploration targets on the Detour East Property, located along the Detour Gold Trend in west-central Quebec, has begun. The Detour East Property covers a 20-kilometre-long stretch of the Sunday Lake Deformation Zone, which hosts the Abitibi's largest undeveloped gold resource-the Detour Gold deposit-on an adjacent property in Ontario.
The planned 1,200- to 1,500-metre diamond drill program will target geophysical and geological targets located along the Sunday Lake Deformation Zone in settings similar to the one hosting the Detour Gold deposit, as well as additional targets sharing similarities with Balmoral's Martiniere West, Fenelon and Grasset Gold discoveries located to the east along the trend. Balmoral is in the first year of an option agreement whereby it can earn up to a 60% interest in the Detour East Property from Radisson Mining Resources Inc. (See its November 10, 2010, press release).
"Targeting at Detour East will be focused on areas where we consider the potential for new, large tonnage gold discoveries to be the highest, drawing on our increasing knowledge of the belt and the work done by our neighbours to the west," said Darin Wagner, President of Balmoral Resources. "The Sunday Lake Deformation Zone is sparsely tested across the Detour East property, despite the presence of the Detour Gold deposit just to the west of the property, and thus represents a prime discovery target."
ABOUT RADISSON MINING RESOURCES:
Radisson is a Quebec-based exploration company with an interest in seven properties in Northwestern Quebec and a property in Northwestern Ontario. Radisson's main asset, the O'Brien/Kewagama project, (the project) is located along the Cadillac Break. 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 1932 to 1955)
Previous exploration by the Company on the project resulted in the discovery of an indicated resource of 218,540 ounces (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 ounces) as defined in the Scott Wilson RPA NI 43-101 report of May 2007.
These resources, all outlined above the 650-metre level, are located over 800 metres east of the old O'Brien mine workings, and represent a new discovery of high grade mineralization of the same type mined and produced at the O'Brien gold mine. These resources are contained within a gold zone referred to as Zone 36.
In 2011, the Company carried out a successful diamond drilling program, resulting in a new discovery on the largely unexplored eastern portion of the project (Kewagama) (see press releases of June 1 and June 16, 2011).
The Company is currently planning a diamond drilling program that should start in October 2011.
The Company is also conducting an internal study and has begun planning an underground exploration and bulk sampling program on Zone 36.
Access will be via a 4.5x5-metre decline (15%) designed to reach the 350-, 500- and 750-foot levels. The planned length is currently in the order of 1,500 m.
The underground access will be used to evaluate and bulk sample Zone 36, explore for (via underground drilling) and discover any new gold zones, and carry out necessary mining and metallurgical feasibility studies.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Michel David, B.Sc.
President and Chief Executive Officer
(819) 797-0606
Donald Lacasse, Eng.
Vice President, CFO and Secretary-Treasurer
(819) 797-0606
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Unternehmensinformation / Kurzprofil:
Datum: 11.10.2011 - 12:00 Uhr
Sprache: Deutsch
News-ID 74561
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contact information:
Town:
ROUYN-NORANDA, QUEBEC
Kategorie:
Mining & Metals
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"Diamond Drilling Begins on the Detour East Property (Former Gygnac and Massicotte Properties)"
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