In the early- to mid-20th century, the O’Brien mine was Quebec’s richest, producing almost 600,000 oz. of 15 g/t gold.

Then, just last year, Radisson Mining Resources (RDS.V; RMRDF.OTC) locked up 5.2 kilometers of strike surrounding the old mine and quietly outlined three potential “O’Briens” just to its east.

It’s a story that has flown largely under the radar, but with a massive drilling program steadily cranking out high-grade gold, that’s likely to change soon.

Dear Fellow Investor,

It can take a fresh look at a project to really see its potential.

That’s the case with the area surrounding the old O’Brien mine in Quebec.

The mine itself has been a successful producer. In fact, it was the province’s highest-grade gold operation when it was in production from 1926 to 1957.

Once this area was mined out, successive owners over the decades poked around the area and hit some gold, but not enough to advance the project much.

A change came when Radisson Mining Resources (RDS.V; RMRDF.OTC) took the area over in the mid-2010s. The junior was quickly able to find enough gold to define a sizeable resource.

But then came the big change: In 2019, the company applied a new litho-structural model to its interpretation of that resource.

Not only did the resource grow, but the story of the mineralization at O’Brien really started to come together.

The new model opened up the possibility that the same geologic forces that created O’Brien repeated consistently to its east, and possibly elsewhere on its host structure.

Radisson has spent the last two years not only testing that possibility…but actually confirming it.

And now, with a major, 130,000-meter drilling program in full swing, it is ripe for a rerating.

The Heart Of Quebec’s Gold Country

If you were going to pick a place to look for gold, you’d be hard-pressed to choose a better area than the Cadillac-Bousquet Mining Camp where the O’Brien project is located.

The area sits within the prolific Abitibi Greenstone Belt and has produced more than 25 million oz. of gold in the past 100 years. And because of all this mining activity, O’Brien has access to excellent infrastructure and a skilled workforce.

And, as you can see in the table in the map below, it also sits near several active mines, including Agnico Eagle’s LaRonde (the deepest mine in North America) and IAMGOLD’s Westwood mine.

Both these mines have excess capacity and are likely watching the high-grade assays Radisson has been cranking out to the east of the O’Brien mine with great interest.

In an industry where grade is king, the prospect that Radisson can outline a large, high-grade resource that could feed one of these mills makes the company a potential takeout target.

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A Repetitive System

It’s a prospect that looks more and more likely as drilling continues at O’Brien and keeps encountering more gold at depth on the three trends outlined to its east.

These trends sit 300, 600 and 900 meters east of the old O’Brien mine, and Radisson has already established a high-grade gold resource on them. As of July 2019, they contain 289,000 oz. of indicated gold at 9.5 g/t and 145,000 oz. of inferred gold at 7.3 g/t.

Those grades put O’Brien among the highest-grade undeveloped gold resources in North America.

Based on the success drills have had hitting more high-grade below the resource area, that gold hoard seems destined to grow.

But the intriguing thing about these trends is that Radisson’s new model for O’Brien suggests that these trends are repeats of the original mine.

The longitudinal-section below shows this pattern nicely.

As you can see, the old mine ran to more than 1,000 meters in depth.

The current resource on the three trends to its east is outlined to depths between 300 and 600 meters — which means if these trends are, in fact, repeats of the O’Brien mine, they could extend at least that deep, if not deeper.

In 2020, the drills focused on Trend #1, the nearest trend, and high-grade gold well below the resource area is exactly what they found.

Even More Room To Grow

Now drilling is beginning to return results from Trend #2, and it too is returning high-grade gold up to 400 meters below its portion of the resource.

With 70,000 meters of drilling slated for 2021 to test below both Trend #2 and Trend #3, Radisson’s odds of growing this high-grade gold resource substantially are excellent.

Better still, the trends cover just about one kilometer of the 5.2 kilometers of trend that the company controls along the Cadillac Break.

The graphic below demonstrates the district-scale potential here, as the company has more than four kilometers of strike to test beyond the depth potential of these first three trends.

Between the high-grade nature of the mineralization at O’Brien and this large target area, it’s not hard to understand why Rob McEwen and David Garafolo, the founder and a former CEO, respectively, of major gold miner Goldcorp have invested in Radisson.

Invest Into An Avalanche Of Drill Results

So far, the broader market has missed the scale of the opportunity Radisson has uncovered at O’Brien.

But with an avalanche of results due to hit the market from drilling on all three trends (and some property-wide targets) in the months ahead, that could change at any time.

Simply put, the value that the company’s drilling program has already established at O’Brien argues for a rerating of its share price.

If the market comes to that same realization, especially if it happens in conjunction with a resurgence in gold prices, those who invest in Radisson Mining Resources near current levels will likely be very glad they did.

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