Radisson drills Breakwater property

Junior Radisson Mining Resources (ME) has completed a 10-hole drill program on the O’Brien gold property in Cadillac Twp., Que.

Drilling was concentrated on several veins within the 36E zone. Of 19 intersections, two contained visible gold. The intersections ranged in length from 0.2 to 24.9 ft., while assay values varied from 0.03 to 0.88 oz. per ton. Radisson can earn a half interest from Breakwater Resources (TSE) by spending $3 million on exploration and issuing 500,000 class A Radisson shares before Feb. 28, 1999.

In other news, Radisson has completed a private placement valued at $80,000 with Societe Quebecoise d’Exploration Miniere (Soquem). The Quebec Crown company will subscribe to 133,333 Radisson shares priced at 60 cents each. In addition, Soquem will receive warrants exercisable for 18 months, priced at 78 cents per warrant. Should all warrants be exercised, Radisson would receive an additional $104,000.