Radisson Mining Resources Inc. (TSX-V: RDS, OTCQB: RMRDF) (“Radisson” or the “Company”) is pleased to announce that it has entered into a Memorandum of Understanding (“MOU”) with IAMGOLD Corporation (“IAMGOLD”) to assess the design criteria for processing mined material from Radisson’s O’Brien Gold Project (“O’Brien” or the “Project”) at the nearby Doyon gold mill, part of IAMGOLD’s Doyon-Westwood mine complex. The Doyon mill is located 21 kilometres west of O’Brien within Quebec’s Abitibi region and directly accessible along Trans-Canada Highway 117.
If off-site processing at Doyon is deemed viable by both parties, Radisson intends to complete a Preliminary Economic Assessment (“PEA”) for O’Brien, which will further consider mine design, mining methodology, mining rate and gold production profile, facilities requirements, development schedule and overall Project economics.
Matt Manson, President & CEO commented: “Hub-and-spoke mining and milling arrangements have long been a feature of gold mining in the Abitibi. Today we are announcing the first step in assessing the viability of such an arrangement for the O’Brien Gold Project. The MOU with IAMGOLD will facilitate the technical work required to assess the compatibility of O’Brien’s gold ore with the Doyon mill. Doyon is directly accessible to O’Brien via a short haul on paved highway, and a future O’Brien mine with offsite processing and tailings disposal would be a potentially low-cost, low-impact and highly profitable mining operation. The MOU with IAMGOLD contains no commercial terms regarding how ore supply from O’Brien to Doyon would be arranged; however, further discussions between the two parties, and a companion O’Brien PEA, are contemplated upon the successful completion of this preliminary technical work.”
Terms of the MOU
The MOU facilitates the exchange of technical data between Radisson and IAMGOLD Corporation (collectively the “Parties”) regarding metallurgy, flow-sheet configuration, potential mill modifications, and future processing and tailings disposal capacity. Each Party will be responsible for its own costs associated with the work. To conduct the assessment, Radisson has retained Ausenco Engineering Canada ULC and a program of metallurgical work has already commenced at the Lakefield, Ontario facilities of SGS Canada Inc. The MOU is non-binding and non-exclusive and contains no specific terms around potential commercial arrangements between the Parties. There is no certainty that any arrangement between the Parties will result from their dealings pursuant to the MOU.
Radisson Mining Resources Inc.
Radisson is a gold exploration company focused on its 100% owned O’Brien Gold Project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. The Bousquet-Cadillac mining camp has produced over 25 million ounces of gold over the last 100 years. The Project hosts the former O’Brien Mine, considered to have been Québec’s highest-grade gold producer during its production. Indicated Mineral Resources are estimated at 0.50 million ounces (1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources estimated at 0.45 million ounces (1.62 million tonnes at 8.64 g/t Au). Please see the NI 43-101 “Technical Report on the O’Brien Project, Northwestern Québec, Canada” effective March 2, 2023, Radisson’s Annual Information Form for the year ended December 31, 2023 and other filings made with Canadian securities regulatory authorities available at www.sedar.com for further details and assumptions relating to the O’Brien Gold Project.
For more information on Radisson, visit our website at www.radissonmining.com |
