(TheNewswire)
April 11, 2019 / TheNewswire / Vancouver, Canada - Radius Gold Inc. (TSX-V: RDU) is pleased to announce that drilling has commenced at Radius’s high-grade gold-silver Amalia Project located in Chihuahua, Mexico. The drill program is operated by Radius and funded by Pan American Silver, under a joint venture agreement. Radius plans to follow-up on exceptional high grade results from drilling last year (see news release December 4th 2018). Radius’s initial nine-hole drill program at Amalia intersected high-grade mineralization in the San Pedro structural zone with the last and deepest hole (AMD18-009) intersecting 26m at 7.08g/t Au and 517 g/t Ag, including 5m at 14.71 g/t Au and 1378 g/t Ag.
Five of the nine drill holes (AMD18-001, 003, 007, 008, 009) tested the San Pedro structural zone, all intersecting gold and silver mineralization along a 650m strike length. The holes all cut mineralization within less than 100m of the surface outcrops of banded chalcedonic high level silica and within Upper Rhyolite super group volcanics. The high-grade hole AMD18-009 cut the target at the fault contact between the preferred host Lower Andesite volcanics and Upper Rhyolites. Similar style major epithermal mines of the northern Sierra Madre (e.g. Palmerejo, Pinos Altos, La Cienga) are known to have mineralization hosted within the Lower volcanic units and occurring over large vertical intervals between 600 and 750m. As these deposits are located in the same regional volcanic belt as Amalia, the initial drill results at Amalia indicate the potential for a significant discovery with further drilling. To date drilling has tested only a limited part of the system, 100m or less below surface. The current program is planned for at least 2000m of drilling and is intended to test immediately below and on strike of the high grade mineralization at San Pedro.
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 prepared and approved the technical information contained in this news release.
Quality Assurance and Quality Control
Radius follows industry standard QA/QC procedures. Rock chip samples are delivered to the ALS Geochemistry laboratory facilities in Chihuahua, Mexico. The samples are fire assayed for Au and are analyzed for Ag and multi-elements using method code ME-ICP61 following a four-acid digestion. Overlimits are analyzed using an appropriate method. Radius routinely inserts multi-element geochemical standards and blanks into the sample stream to monitor laboratory performance. Quality control samples submitted to ALS were returned within acceptable limits.
About Radius
Radius has been exploring for gold in Latin America for over a decade. The Company has a strong treasury and is looking for investment and project acquisition opportunities across the globe. Please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com) for more information.
ON BEHALF OF THE BOARD
Simon Ridgway
President and CEO
Symbol: TSXV-RDU
Contact: Simon Ridgway
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: info@goldgroup.com
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 which include, without limitation, statements about the results of exploration work and future plans at the Amalia Project; the Company’s business strategy, plans and outlook; the merit of the Company’s investments and properties; timelines; the future financial performance of the Company; expenditures; approvals and other matters. 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, the results of exploration work and future plans at the Amalia Project; 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 activities at the Amalia Project will advance as planned; that the Company’s activities will be in accordance with its public statements and stated goals; that all required approvals will be obtained; that there will be no material adverse change affecting the Company or its investments or 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.
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