(TheNewswire)
Vancouver, B C - TheNewswire - January 30, 2023 - Radius Gold Inc. (TSXV:RDU) (“ Radius ” or the“ Company ”) is pleased to report preliminary results from initialmetallurgical testing conducted on samples from Radius’s Plata VerdeProject, located in Chihuahua, Mexico.
In July 2022 Radius announced an Exclusivity Agreement(the "Agreement") with Minera San Julian, S.A. de C.V.("Minera San Julian"), a wholly owned subsidiary ofFresnillo plc, for Plata Verde Project in Chihuahua, Mexico. SeeRadius’ news release of July 12, 2022. The Agreement granted MineraSan Julian an exclusive right for nine months to carry out evaluationand exploration activities in order to negotiate an option agreementto earn a 70% interest in the project. As part of these activities,Minera San Julian sent mineral samples to Fresnillo plc’s TechnicalServices Group, Mineral Processing Department, in Torreon, Mexico(“TSG”), to conduct metallurgical tests.
Bulk samples (approximately 100kg) were collected fromthe Mina Mojonera and Mina Real underground workings and sent to TSG for initial investigation into metallurgicalcharacterisation and recoveries of metals (silver lead and copper) bycyanide leaching and flotation.
Highlights
-
Work index for grinding (Wi) averaged8.67 kWh/t, classifying the samples as “soft” for ballmilling.
-
Cyanide leach test work reported average recoveries of93% for silver.
-
Flotation studies generate Pb/Cu concentrates with ahigh grade of silver and good values of lead and copper with recoveryof around 85% for silver, 52% for lead and 64% for copper.
-
Combining flotation + tailings cyanidation results inaverage overall silver recovery of 97%.
-
Future work should consider separation of Pb and Cuconcentrates to generate commercial concentrates.
Bruce Smith, President & CEO, states: “We are very pleased with the recentprogress at Plata Verde. Initial test work highlights theexceptional metallurgical properties at Plata Verde with cyanide leachrecoveries averaging 93% for silver and in combination with flotationachieving 97% silver recovery. Geological mapping, sampling, androad construction are on-going in preparation for a drillingprogram.”
Details of metallurgical testwork
Table 1. Head grade analysis
*average value obtained by directassay, by fractions and metallic screen
Mineralogical characterization
Galena is the main sulfide, which registered around0.11% by weight, chalcocite 0.12%, and sphalerite, pyrite,chalcopyrite and arsenopyrite, which totaled around 0.06%, weredetected to a lesser extent. As silver species, stromeyerite,argentite and a low proportion of AgHg were detected. Non-sulfurgangue represented 99.6% by weight mainly as baryte, calcite, albite,and quartz.
Grinding parameters
The work index (Wi) averaged 8.67 kWh/t,classifying the Mina Real and Mina Mojonera samples as “soft”material for ball milling.
Direct cyanidationtests
Bottle roll cyanidation tests evaluatedthe effect of cyanide concentration and particle size on the recoveryof elements of metals. Theresults indicate that the most significant process variable on silverrecovery was particle size. Table 2 summarizes the results of the K80bottle tests carried out around 75 ? m and a concentration of 2.0 g/L of NaCN,conditions considered as adequate for processing Plata Verdematerial.
Table 2. Summary bottle roll cyanidetests
(+) Ag g/t & Cu Zn Fe %
-
(1) RecoveryAg, % = (head-tails)*100/ head
-
(2) RecoveryCu, Zn, Fe % = mg in enriched solution*100 / (mg in enriched solution= mg in tails)
Silver recovery averaged 93% and thetailings assayed approximately 23 g/t silver. The dissolution of copper, zinc and ironaveraged 74%, 3% and 0.25% respectively. Lime consumption was approximately 0.77 kg/tand NaCN 4.2 kg/t.
Flotationtests
Standard flotation tests were conductedfor Mina Real and Mina Mojonera samples.
Mina Real: Pb/Cu concentrate reportedgrades for gold of 0.59 g/t, silver 53.7 kg/t, lead 14.5%, copper14.3%, iron 3.9% and insoluble 17.9% and recovery of 84%, 66% and 71%for silver, lead andcopper respectively. Tailgrades were Ag = 65 g/t, Pb = 0.05% and Cu= 0.04%.
Mina Mojonera: Pb/Cu concentratereported grades for silver 54.2 kg/t, lead 14.3%, copper 14.2%, iron3.5% and insoluble 30.0% and recovery of 86%, 38% and 56% for silver,lead and copper respectively. Tail grades were Ag = 51 g/t, Pb = 0.13% and Cu= 0.06%.
Pb-Cu flotation &cyanidation of flotation tails
Table 3. Combinedmetallurgical balance of Pb-Cu flotation and cyanidation of flotationtails
-
(1) Solutions:Ag, Zn, Cu, Fe in g/m3
-
(2) Solids Agin g/t Pb, Zn, Cu, Fe Insol. In %
Samples from Mina Real and Mojonera averaged a globalsilver recovery of 97% through the combined flotation + tailcyanidation process.
Further investigations related to the high content ofbarite in the mineral matrix of the samples, that could affect theflotation process, was also recommended.
Quality Assurance and QualityControl
Reported metallurgical testing was conducted by Fresnillo plc’s Technical Services Group,Mineral Processing Department in Torreon, Mexico . Metallurgical testing followed industry standardpractices and processes.
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 reviewed and approved the technicalinformation 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, 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, 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.sedar.com. Although the Company has attempted to identify important factors thatcould cause actual actions, events or results to differ materiallyfrom those described in forward-looking statements, there may be otherfactors that cause actions, events or results to differ from thoseanticipated, 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.
Copyright (c) 2023 TheNewswire - All rights reserved.