Radisson Mining Resources: Diamond Drilling Begins Drilling on the O'brien/Kewagama Property
(firmenpresse) - ROUYN-NORANDA, QUEBEC -- (Marketwire) -- 10/25/11 -- Radisson Mining Resources Inc. (TSX VENTURE: RDS) is pleased to announce that surface exploration drilling has begun on its wholly owned O'Brien-Kewagama gold project on October 24, 2011.
The company also announces the appointment of Mr. Eugene Gauthier Eng., as exploration manager. Mr. Gauthier has over 30 years of experience in mining and exploration in the Abitibi Gold Belt.
The O`Brien-Kewagama gold project, 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 some three kilometres. From 1933 to 1956 the O`Brien Gold Mine, located on the property, produced 590,000 ounces of gold from 1.3 million tons of ore at a grade of 0.45 ounces of gold per ton, making it the highest grade gold producer in the camp. The mine reached a depth of 3450 feet.
The O`Brien-Kewagama project is located approximately five kilometres west of and on strike from Agnico-Eagle`s Lapa gold mine, also centered on the Cadillac Break, and approximately four kilometres southeast of Agnico-Eagle`s Laronde mine, now surpassing 3000 metres (10000 feet) in depth.
SURFACE EXPLORATION PROGRAM
In 2010 and 2011, the company carried out a complete re-evaluation and reinterpretation of the past exploration results on the project and carried out a successful diamond drill program, resulting in a new discovery on the largely unexplored eastern portion of the project (Kewagama) (press release June 1, June 16,2011).
Highlight' s include:
The present program is designed to:
UNDERGROUND EXPLORATION PROGRAM.
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 Roscoe Postle 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.
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.
Initial engineering and permitting work is presently under way. At the same time, the company is also planning for a 10,000 metre surface drill program.
Eugene Gauthier (OIQ) acts as the qualified person for the company and has reviewed the contents of this release.
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) 874-0030 (Val-d'Or Office)
Donald Lacasse, Eng.
Vice President, CFO and Secretary-Treasurer
(819) 797-0606 (Rouyn-Noranda Office)
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 25.10.2011 - 12:00 Uhr
Sprache: Deutsch
News-ID 79754
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contact information:
Town:
ROUYN-NORANDA, QUEBEC
Kategorie:
Mining & Metals
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"Radisson Mining Resources: Diamond Drilling Begins Drilling on the O'brien/Kewagama Property"
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