Radisson Mining and IAMGOLD Explore Gold Processing Opportunities

Radisson Mining and IAMGOLD Explore Gold Processing Opportunities

Radisson Mining Resources Inc. (TSX-V: RDS, OTCQB: RMRDF) has recently announced a significant step forward in enhancing its operations. The company has entered into a Memorandum of Understanding (MOU) with IAMGOLD Corporation to assess critical design criteria for processing mined material. This partnership is centered on Radisson's O’Brien Gold Project, located adjacent to IAMGOLD's Doyon gold mill in Quebec.

What the MOU Entails for Processing

The MOU aims to evaluate the feasibility of processing gold ore from the O’Brien Gold Project at IAMGOLD’s Doyon mill. If both parties find this off-site processing option feasible, Radisson plans to carry out a Preliminary Economic Assessment (PEA) for the O’Brien Project. This assessment will involve a comprehensive review of mine design, methodologies for mining, gold production forecasts, necessary facilities, developmental timelines, and overall financial viability.

Insights from Leadership

Matt Manson, President & CEO of Radisson, expressed optimism regarding this initiative. He noted, “Hub-and-spoke mining and milling arrangements have long been a feature of gold mining in the Abitibi. This MOU with IAMGOLD represents the initial phase of evaluating the practicality of such an arrangement for O’Brien. Our ability to transport ore to the Doyon mill via a short, paved highway could make future operations not only cost-effective but also environmentally sustainable.”

The Technical Aspects of the MOU

The MOU facilitates a structured exchange of vital technical data concerning aspects like metallurgy and potential modifications to the mill. This information will aid both parties in examining whether the Doyon mill can handle the unique requirements of processing O’Brien's gold ore effectively. Ausenco Engineering Canada ULC has been retained by Radisson to conduct the necessary assessments, with metallurgical work already underway at SGS Canada Inc.'s Lakefield facilities.

Future Steps and Considerations

While the MOU is a significant development, it is essential to note that it remains non-exclusive and non-binding. The arrangement does not stipulate specific commercial terms regarding ore supply but paves the way for future discussions, particularly following the successful completion of preliminary technical work. The outcomes of these discussions will be vital in determining the project's commercial viability.

About the O’Brien Gold Project

Radisson focuses its efforts on the O’Brien Gold Project, a cornerstone of its operations in the Bousquet-Cadillac mining camp. This area is renowned for its rich gold deposits and has yielded over 25 million ounces of gold throughout the past century. The O’Brien Mine itself is celebrated as one of Quebec’s highest-grade gold producers in history.

Current Mineral Resources

The O’Brien Project is estimated to host Indicated Mineral Resources of approximately 0.50 million ounces and Inferred Mineral Resources of around 0.45 million ounces. These significant resources highlight the project’s potential and underline the importance of ongoing assessments like the PEA that Radisson plans to undertake in collaboration with IAMGOLD.

Conclusion: A Promising Future

The MOU between Radisson Mining Resources Inc. and IAMGOLD Corporation marks a promising development in the quest to advance the O’Brien Gold Project. With a shared commitment to exploring the financial and technical feasibility of off-site ore processing at the Doyon mill, both companies are poised to unlock the project's full potential.

Frequently Asked Questions

What is the purpose of the MOU between Radisson and IAMGOLD?

The MOU aims to assess the feasibility of processing gold ore from Radisson's O’Brien Gold Project at IAMGOLD’s Doyon mill.

What will happen if the off-site processing is deemed viable?

If deemed viable, Radisson will conduct a Preliminary Economic Assessment (PEA) to evaluate various aspects of the O’Brien Gold Project.

Who is leading the technical assessment?

Radisson has engaged Ausenco Engineering Canada ULC to conduct the necessary metallurgical assessments for the project.

What are the estimated mineral resources for the O’Brien Project?

The O’Brien Project boasts Indicated Mineral Resources estimated at 0.50 million ounces and Inferred Mineral Resources estimated at 0.45 million ounces.

Why is the MOU considered non-binding?

The MOU does not establish specific commercial arrangements, making it non-binding and merely a preliminary agreement to explore the technical feasibility of processing.

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