Radisson Mining Resources Initiates Preliminary Economic Assessment of Zone 36 East of the O’Brien Project
ROUYN-NORANDA, QUEBEC – Radisson Mining Resources Inc. (TSX VENTURE:RDS) (“Radisson”) is pleased to announce that it has retained the services of INNOVEXPLO for the Preliminary Economic Assessment (PEA) of Zone 36 East of the O’Brien project. INNOVEXPLO is a firm of consultants, independent from Radisson, recognized for its expertise in mining geology, exploration, engineering and geomatics. Firm WSP will participate jointly in certain chapters of the PEA, such as ore processing, environmental assessments and studies of some of the infrastructure. A total of five firms submitted bids for this PEA.
The Preliminary Economic Assessment of Zone 36 East forms an integral part of Radisson’s business plan, whose main goal is the development of the O’Brien project. This PEA follows up on the recommendation to show the current economic potential of Zone 36 East, as suggested by Roscoe Postle Associates Inc. in its October 2013 NI 43-101 resource estimate (see press release of November 6, 2013). The final results of the metallurgical study by the Unité de recherche et de service en technologie minérale de l’Abitibi-Témiscamingue (URSTM) (Abitibi-Témiscamingue mineral technology research and service unit) (press release of February 27, 2014) will be part of the PEA and will be released when available.
The Company expects the results of this phase of development of the O’Brien project to be available by the end of 2014.
“We consider the Preliminary Economic Assessment to be a crucial step in the development of the O’Brien project. It allows us to continue the transition from mining exploration company to junior producer,” said President of Radisson Mining Resources, Mario Bouchard. “Zone 36 East exhibits a nugget effect, just as there was in the former O’Brien Mine. The one for Zone 36 East has been estimated at 38% by Roscoe Postle Associates Inc. We believe that the nugget effect will influence the project’s economics,” added the president of Radisson.
Yolande Bisson, Eng., MBA, acts as a Qualified Person for the Company as defined in National Instrument 43-101 and has reviewed and approved the technical and scientific information in this release.
As of August 1, 2014, Radisson Mining Resources Inc. still holds 300,000 shares of Balmoral Resources, worth more than $550,000.
ABOUT RADISSON MINING RESOURCES:
Radisson is a Quebec-based mineral exploration company. The adjoining O’Brien and Kewagama properties, cut by the regional Cadillac Break, are Radisson’s main asset. They contain the O’Brien Mine, which is considered to have been the highest grade gold producer of the Abitibi Greenstone Belt when it was in production (1,310,356 short tons at 0.448 oz/t from 1925 to 1956; RPA, May 2007). The Company is focusing exploration efforts on Zone 36 East, located approximately 2,000 feet (610 metres) east of the main shaft of the old O’Brien mine.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
President and CEO