Resource expansion drilling along high-grade trend No.2 returned multiple high-grade intercepts to more than 800m vertical depth, which is up to 330m below current resources. Highlights included 2.8m grading 57.48 grams per tonne, including 80cm grading 196g/t.
Mineral resources have been defined to a vertical depth of 400m, with recent drilling suggesting continuity to a vertical depth of more than 800m. Drilling continues to define and expand three high-grade mineralized trends, about 300m, 600m and 900m east of the former O'Brien mine.
Some 68,835m of drilling has been completed with assays pending for 16,440m. The company has C$13.7 million in cash.
A 2015 preliminary economic assessment suggested underground mining to 550m depth could produce 135,308oz a year for six years.
Shares in Radisson Mining Resources are trading at C32c, valuing the company at $77 million.