Radisson Mining Resources Inc. (OTCMKTS:RMRDF) stock continues to move lower on Wednesday. The stock underperformed the broader so far this year with a fall of 25%.
Market Reaction:
In Wednesday’s trading session, RMRDF stock ended lower by 5.60% to $0.2067 with more than 37Kshares, compared to its average volume of 59K shares. Over the past 52-week, the stock has moved within a range of $0.1750 – 0.5000.
Major Trigger:
Radisson reports high grade gold intercepts including 25.68 g/t over 2.00 m, 8.20 g/t over 7.00 m, 24.80 g/t over 2.00 m and 10.02 g/t over 4.40 m from resource expansion drilling at the O’Brien project
Key Highlights:
announce significant high-grade gold intercepts from the ongoing 130,000 m exploration drill program at its 100% owned O’Brien gold project located along the Larder-Lake-Cadillac Break (see location map 1 and location map 2), halfway between Rouyn-Noranda and Val-d’Or in Quebec, Canada.
In addition, several shallow holes released today intersected high-grade mineralized structures outside defined resource blocks in the upper 450 m along trend #2 and in the upper 200 m along trend #3, highlighting opportunities for resource growth in sparsely drilled areas closer to surface. We are particularly impressed by results from Trend #3, including 10.02 g/t Au over 4.40 m in hole OB-21-207 aimed at expanding one of the highest-grade resource blocks in the 2019 mineral resource estimate.
The majority of our work program thus far has been focused within a 1 km along strike to the east of the historic O’Brien Mine, we believe there is significantly more upside to be unlocked from a prospective land package that includes more than 5 km of strike length along the prolific Cadillac Break. Results so far, all support our theory of discovering and expanding additional high-grade mineralized trends as we step out systematically further along strike and deeper beyond the limits of drilling to date.” commented Rahul Paul, President and Interim Chief Executive Officer.
