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Radius Gold defines large silver system at California Target, Amalia Project, Mexico

Vancouver, British Columbia – TheNewswire – December 15, 2021 – Radius Gold Inc. (TSXV:RDU) is pleased to report results from the California target…

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Vancouver, British Columbia – TheNewswire – December 15, 2021Radius Gold Inc. (TSXV:RDU) is pleased to report results from the California target at the Amalia Project, Mexico (Figure 1). Radius has defined an extensive zone of both high grade and disseminated silver gold mineralization in its initial drill program at the California target (Figure 2 and Table 1).

The initial 14-hole, 3814m drill program intersected multi-phase breccia and stock-work vein systems with significant widths and high grades up to 4210 g/t Ag and 33.1 g/t Au. All assays have now been received and the drill rig moved to the El Cuervo target where drilling is in progress.

New drill results include:

AMDD21-045         87.25m @ 60 g/t Ag

Including        10.95m @ 104 g/t Ag

And                3.10m @ 165 g/t Ag

And                3.30m @ 187 g/t Ag

 

Bruce Smith, Radius CEO, comments, “The results from California are a great advance for the Amalia Project, with multiple intersections over 1km of strike including:

AMDD21-034         3.95m @ 487 g/t Ag and 2.15 g/t Au

AMDD21-038         11.20m @ 379 g/t Ag and 1.26 g/t Au

AMDD21-039        26.90m @ 353 g/t Ag and 2.59 g/t Au

AMDD21-043        12.75m @ 259 g/t Ag and 0.54 g/t Au

AMDD21-044        19.05m @ 346 g/t Ag and 0.63 g/t Au

The system remains open to expansion along strike and to depth and so far has only been drilled on 200m centers. With the San Pedro zone drill defined and infill drilling planned for next year at California, we will be in a position to define a significant resource at the Amalia Property. With drilling on-going at the El Cuervo target and many targets remaining to drill test (Oro Viejo, La Caverna, California SE), 2022 will be an exciting year for Radius.”

Drilling is currently in progress at El Cuervo target, which is a previously untested, subparallel structure where stockwork veining and brecciation has been mapped up to maximum 40m wide and semi-continuously for 1.5km. Surface rock chip samples at El Cuervo range from below detection to 637 g/t Ag and 2.24 g/t Au. PAS is operating the El Cuervo drill program and expects to complete 3500m of drilling in the first program at the target.

Figure 1. Geology and target overview – Amalia Project.


Click Image To View Full Size

 

Figure 2. California target – Drilling and Ag geochemistry


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Table 1. Drill results California Target

DRILLHOLE

FROM (m)

TO (m)

INTERVAL (m)

Ag (g/t)

Au (g/t)

Est.TrueWidth

AMDD21-032

38.10

44.30

6.20

93

0.43

5.62

and

62.70

90.00

27.30

90

0.26

24.74

Including

78.00

80.35

2.35

220

0.61

2.13

Including

86.00

88.60

2.60

263

1.37

2.36

AMDD21-033

148.60

199.00

50.40

50

0.05

23.66

Including

178.80

194.25

15.45

68

0.07

7.25

Including

188.20

192.40

4.20

113

0.12

1.97

AMDD21-034

145.70

149.65

3.95

487

2.15

3.58

Including

146.80

149.65

2.85

658

2.96

2.58

Including

148.00

148.50

0.50

2810

15.15

0.45

AMDD21-035

212.65

229.80

17.15

35

0.07

10.32

and

243.10

243.50

0.40

482

3.36

0.24

AMDD21-036

108.60

110.35

1.75

578

0.27

1.59

Including

109.90

110.35

0.45

1930

0.71

0.41

AMDD21-037

177.95

180.40

2.45

37

0.18

1.30

Including

177.95

178.55

0.60

54

0.53

0.32

AMDD21-038

151.00

162.20

11.20

379

1.26

9.06

Including

156.20

157.00

0.80

4244

16.96

0.65

Including

156.20

156.55

0.35

4210

33.10

0.28

AMDD21-039

308.20

335.10

26.90

353

2.59

20.30

Including

308.20

331.90

23.70

394

2.93

17.89

Including

314.45

321.95

7.50

976

7.38

5.66

Including

317.85

321.95

4.10

1520

12.61

3.09

AMDD21-040

385.35

396.50

11.15

99

0.64

6.55

Including

385.35

393.55

8.20

120

0.78

4.82

Including

388.45

391.10

2.65

210

1.12

1.56

Including

389.60

391.10

1.50

249

1.28

0.88

AMDD21-041

144.00

145.25

1.25

36

0.03

1.13

AMDD21-042

216.95

218.50

1.55

24

0.003

0.889

AMDD21-043

102.25

115.00

12.75

259

0.54

9.48

Including

108.05

114.05

6.00

483

1.06

4.46

Including

108.05

111.25

3.20

705

1.92

2.38

AMDD21-044

273.00

312.65

39.65

204

0.35

29.47

Including

283.00

312.65

29.65

256

0.44

22.03

Including

287.50

306.55

19.05

346

0.63

14.16

Including

301.00

306.55

5.55

770

1.69

4.12

Including

304.00

305.65

1.65

1446

5.11

1.23

Including

305.00

305.65

0.65

2470

11.90

0.48

AMDD21-045

333.75

421.00

87.25

60

0.05

50.04

Including

339.50

350.45

10.95

104

0.09

6.28

Including

359.50

362.60

3.10

165

0.08

1.78

Including

413.90

417.20

3.30

187

0.29

1.89

 

The Agreement

Pursuant to an option agreement signed in June 2018, Pan American Silver Corp. has the option to earn up to an initial 65% interest in the Amalia Project by making cash payments to Radius totalling US$1.5 million (of which US$800,000 has been received) and expending US$2 million on exploration over four years.  Pan American may earn an additional 10% by advancing the property to preliminary-feasibility.

 

Quality Assurance and Quality Control

 

Drilling is carried out using NQ and HQ size tooling.  Drill core is cut in half using a rock saw with one-half of the core then taken as a sample for analysis.  Sample intervals are generally 1m intervals, producing samples of between 2 to 9 kg.  Half-core samples are delivered to the ALS Geochemistry laboratory facilities in Chihuahua, Mexico.  The samples are fire assayed for Au and are analysed for Ag and multi-elements using method code ME-ICP61 following a four-acid digestion.  Overlimits are analysed using an appropriate method.  Multi-element geochemical standards and blanks are routinely entered into the drill core sample stream to monitor laboratory performance.  Quality control samples submitted to ALS were returned within acceptable limits.

 

Technical Information

Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’s Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.  Mr. Smith has reviewed and approved the technical information contained in this news release.

Radius Gold Inc.

Radius has a portfolio of projects located in Mexico, United States and Guatemala which it continues to advance, utilizing partnerships where appropriate in order to retain the Company’s strong treasury.  At the same time, management is seeking out additional investment and project acquisition opportunities across the globe.

ON BEHALF OF THE BOARD

 

Bruce Smith

President and CEO

 

Symbol: TSXV-RDU

 

Contact:  Bruce Smith

200 Burrard Street, Suite 650

Vancouver, BC  V6C 3L6

 

Tel: 604-801-5432;  Toll free 1-888-627-9378;  Fax: 604-662-8829

Email: [email protected]

Website: www.radiusgold.com

 

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

  

Forward-looking statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the results of exploration work and future plans at the Amalia Project. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.

 

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the planned exploration work at Amalia will proceed as intended; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

 

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the exploration work at the Amalia Project will advance as planned; that the Company’s stated goals and the planned exploration and development activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

 

Copyright (c) 2021 TheNewswire – All rights reserved.

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