Radisson sample yields 2,820 oz.

A bulk sample from the Duquesne mine project north of Rouyn- Noranda, Que., produced 2,820 oz. gold which sold for about $1.3 million, Radisson Mining Resources (ME) announced. Size of the sample, treated at the Sleeping Giant mill of Aurizon Mines, was 9,664 tons. The treated material, mainly development ore, was extracted from four veins mined out of five levels.

A headgrade of 0.3 oz. gold per ton and a recovery rate of 97% were obtained; both the grade and recovery rate were higher than anticipated.

A new mineralized zone has been uncovered on the property, the company says. A 12,000-ft. surface drilling program was recently completed. Among the results were 0.33 oz. over 1.64 ft., 0.12 oz. over 44.16 ft., 0.75 oz. over 44.12 ft. and 0.39 oz. over 7.84 ft.

The company says it is postponing a production decision in favor of a surface and underground exploration program aimed at increasing reserves. The work will be financed through two private placements, one worth $500,000 with CMP 1990 and the other worth $2 million and involving about 50 investors.

Sampling involving about 7,200 tons of material is planned during the next six months.

Radisson has struck a deal with Cambior (TSE) to acquire, subject to regulatory approval, 17 claims to the east of the newly discovered zone. Radisson must invest $200,000 during a 2-year period to acquire a 100% interest in the property; Cambior will retain a 3% net smelter royalty.