(TheNewswire)
February 16, 2022 – TheNewswire - Vancouver, British Columbia – Radius Gold Inc. (TSXV:RDU) (OTC:RDUFF) (“Radius”or the “Company”) is pleased to reportresults received from the Holly project in Guatemala, operated byjoint venture partner, Volcanic Gold Mines Inc.
Hole HDD-21-027 intersected 4.57 meters (or approx. 4.1m true width)returning over 54 g/t gold and over 3.9 Kg/t silver. This hole cutthe vein at the same depth in the system as hole HDD-21-23 thatintercepted 4.58m of 79.84 g/t gold and 5,053 g/t silver 150m to thesouth (see release 19 October 2021 ). Drillingis ongoing again at Holly, focused on extending this high-grade systemat depth and along strike to the south with a goal of establishing ameaningful high-grade resource and improving confidence in the trendof the vein structure. Several other veins in the area with similarorientation will be tested during this present program.
Radius and Volcanic are very pleased the La Pena vein system continuesto produce these exceptional grades. As the sections below indicate,we are defining ounces quickly with high grade intercepts.
Hole HDD-21-028 failed to intersect the La Pena structure butmanagement believes it was not drilled to sufficient depth. The holewill be re-entered within the present program to test this theory. Results are still pending for hole HDD-21-026 as the shipment ofcore and rock samples that contained this hole was caught up in delaysdiscussed in previous news releases. Management is optimistic futureturn around on drill core will be within 45 days. A preparation lab isbeing set up in the region for surface rock and soil samples.
Technical Information
Bruce Smith, M.Sc. (Geology), a member of theAustralian Institute of Geoscientists, is Radius’s Qualified Personas defined by National Instrument 43-101 - Standards of Disclosure forMineral Projects. Mr. Smith has 27 years of mineral explorationexperience and has prepared and approved the technical informationcontained in this news release.
Quality Assurance and QualityControl
Diamond drilling at Holly project followed industrystandard procedures for core drilling and analysis. Drilling iscarried out using NQ and HQ size tooling. Drill core is cut in halfusing a rock saw with one-half of the core then taken as a sample foranalysis. Sample intervals are generally 1m intervals, producingsamples of between 2 to 9 kg. Half-core samples are delivered to theinternationally certified Bureau Veritas Mineral laboratory facilitiesin Nicaragua where the samples are prepared. Assays are completed byBureau Veritas certified laboratories. The samples are fire assayedfor Au and are analyzed for Ag and multi-elements using method codeICP following a four-acid digestion. Overlimits are analyzed usingan appropriate method. Multi-element geochemical standards andblanks are routinely entered into the drill core sample stream tomonitor laboratory performance. Quality control samples submittedwere returned within acceptable limits.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico,United States and Guatemala which it continues to advance, utilizingpartnerships where appropriate in order to retain the Company’sstrong treasury. At the same time, management is seeking outadditional investment and project acquisition opportunities across theglobe. Radius is a member of the Gold Group of companies, led bySimon Ridgway.
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 northe Investment Industry Regulatory Organization of Canada 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, the results of exploration work and futureplans at the Company’s properties . Often, but not always,these forward looking statements can be identified by the use of wordssuch 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 atthe Company’s properties will proceed as intended; changes ingeneral economic conditions and financial markets; the Company or anyjoint venture partner not having the financial ability to meet itsexploration and development goals; risks associated with the resultsof exploration and development activities, estimation of mineralresources and the geology, grade and continuity of mineral deposits;unanticipated costs and expenses; and such other risks detailed fromtime to time in the Company’s quarterly and annual filings withsecurities regulators and available under the Company’s profile onSEDAR at www.sedar.com. Although the Company has attemptedto identify important factors that could cause actual actions, eventsor results to differ materially from those described inforward-looking statements, there may be other factors that causeactions, events or results to differ from those anticipated, estimatedor intended.
Forward-looking statements contained herein are based on theassumptions, beliefs, expectations and opinions of management,including but not limited to: that the exploration workat the Company’s properties will advance as planned; thatthe Company’s stated goals and the plannedexploration and development activities at itsproperties will be achieved; that there will be no materialadverse change affecting the Company or its properties; and such otherassumptions as set out herein. Forward-looking statements are made asof the date hereof and the Company disclaims any obligation to updateany forward-looking statements, whether as a result of newinformation, future events or results or otherwise, except as requiredby law. There can be no assurance that forward-looking statements willprove to 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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