(TheNewswire)
Vancouver, British Columbia – TheNewswire – November 20, 2023 - Radius Gold Inc. (TSXV:RDU) (“Radius” or the“Company”) provides final results for drilling at its TropicoProject located in the Fresnillo mining districtin Zacatecas, Mexico. The Company completed a 1300m program ofdiamond drilling in 8 drillholes, with all pending assays received.
Drilling defined a large gold mineralized breccia body that starts atsurface and to date defined 250m down dip. Gold grades were startingto increase with depth from holes 1, 2, 3, 4, & 6, (see pressrelease Nov. 7, 2023) but unfortunately the latest gold assay resultsfrom the deepest hole 8 are weak. (See Figure 1 and correspondingTable 1 below.) The drilling encountered wide zones of classic lowsulphidation epithermal alteration, high level chalcedonic silica,banded stockwork and massive quartz veining, and breccias with goldmineralization, but not significant high grade mineralization.
Given the unexpected flat dip of the target breccia to the east andthe significantly lower gold assays in hole 8, pursuing the brecciabody down dip is not justified at this time. Radius geological teaminterprets the breccia body to be part of a larger diatreme and/orexplosive volcanic breccia system. Targeting the source of theepithermal gold mineralization will require further evaluation andlikely an agreement with Geological Survey of Mexico (GSM), whichcontrols ground surrounding the Tropico property. Radius has hadformal and positive discussions with the GSM, but any agreement wouldtake considerable time.
Exploration Focus
Radius has multiple compelling exploration projects and in the comingmonths the focus of exploration activity will be on Plata Verde(Chihuahua Mexico) and Motagua Norte (Guatemala). Radius will continueto work with our partners Pan American Silver Corp, to restartdrilling at Amalia (Chihuahua, Mexico) and progressing theexploitation (mining) permit with Volcanic Gold at Holly (Guatemala).Further Radius is constantly evaluating new projects to add to theportfolio of exploration targets.
Figure 1: Tropico cross-section withdrill results
Table 1: Tropico Drill Results - KeyIntercepts
Key Intercepts | |||||
DRILLHOLE | FROM (m) | TO (m) | INTERVAL (m) | GOLD (g/t) | SILVER (g/t) |
TDD001 | 24.20 | 54.90 | 29.18* | 0.34 | 3.9 |
TDD002 | 55.50 | 85.60 | 30.10 | 0.35 | 2.7 |
TDD003 | 0.00 | 44.20 | 44.20 | 0.28 | 2.1 |
TDD004 | 54.00 | 82.52 | 28.52 | 0.28 | 2.6 |
TDD006 | 51.00 | 87.25 | 36.25 | 0.55 | 9.1 |
Incl. | 66.00 | 73.52 | 7.52 | 1.40 | 29.3 |
And | 96.40 | 108.70 | 12.30 | 0.44 | 2.7 |
TDD008 | 69.00 | 78.02 | 9.02 | 0.11 | 2.6 |
And | 90.22 | 91.75 | 1.53 | 0.33 | 2.6 |
And | 135.97 | 140.55 | 4.58 | 0.22 | 1.0 |
And | 186.30 | 206.12 | 19.82 | 0.15 | 1.9 |
*Width of samples submitted, 1.52m of no recovery(gap) |
Quality Assurance and QualityControl
Drilling is carried out using PQ and NQ size tooling. Drill core is cut in half using a rock saw with one-half of the corethen taken as a sample for analysis. Sample intervals are generally1.5m, producing samples of between 2 to 9 kg. Half-core samples aredelivered to the ALS Geochemistry laboratory facilities in Mexico. The samples are fire assayed for Au and are analysed for Ag andmulti-elements using method code ME-ICP61 following a four-aciddigestion. Overlimits are analysed using an appropriate method. Multi-element geochemical standards and blanks are routinely enteredinto the drill core sample stream to monitor laboratory performance. Quality control samples submitted to ALS were returned withinacceptable limits.
Technical Information
Bruce Smith, M.Sc. (Geology), a member of theAustralian Institute of Geoscientists, is Radius’ Qualified Personas defined by National Instrument 43-101 - Standards of Disclosure forMineral Projects. Mr. Smith has 30 years of mineral explorationexperience and has prepared and approved the technical informationcontained in this news release.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexicoand Guatemala which it continues to advance, utilizing partnershipswhere appropriate to retain the Company’s treasury. At the sametime, management is seeking out additional investment and projectacquisition opportunities across the globe. Radius is a member ofthe Gold Group of companies, led by Simon Ridgway. You may find moreinformation on Radius Gold at www.radiusgold.com or www.sedarplus.ca .
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: info@goldgroup.com
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) acceptsresponsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constituteforward-looking statements within the meaning of Canadian securitieslegislation. All statements included herein, other than statements ofhistorical fact, are forward- looking statements and include, withoutlimitation, statements about the results of explorationwork and future plans at the Company’s projects . Often, butnot always, these forward looking statements can be identified by theuse 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 similarexpressions, 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 differentfrom any results, performance or achievements expressed or implied byforward-looking statements. Such uncertainties and factors include,among others, whether the planned exploration work at the Company’sprojects will proceed as intended; changes in general economicconditions and financial markets; the Company or any joint venturepartner not having the financial ability to meet its exploration anddevelopment goals; risks associated with the results of explorationand development activities, estimation of mineral resources and thegeology, grade and continuity of mineral deposits; unanticipated costsand expenses; and such other risks detailed from time to time in theCompany’s quarterly and annual filings with securities regulatorsand available under the Company’s profile on SEDAR+at www.sedarplus.ca. Although the Company has attempted toidentify important factors that could cause actual actions, events orresults to differ materially from those described in forward-lookingstatements, there may be other factors that cause actions, events orresults to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on theassumptions, beliefs, expectations and opinions of management,including but not limited to: that the Company’s stated goals andthe planned exploration and development activities at its propertieswill be achieved; that there will be no material adverse changeaffecting the Company or its properties; and such other assumptions asset out herein. Forward-looking statements are made as of the datehereof and the Company disclaims any obligation to update anyforward-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 proveto be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly,investors should not place undue reliance on forward-lookingstatements.
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