News out this morning
Radius Gold drills 9.55 m of 0.59 g/t Au at Amalia
2021-02-16 08:04 ET - News Release
Mr. Bruce Smith reports
RADIUS GOLD REPORTS ADDITIONAL RESULTS FROM PHASE FOUR DRILLING AT AMALIA PROJECT, MEXICO
Radius Gold Inc. has provided further results from its phase four diamond drill program at the Amalia gold-silver project in Chihuahua, Mexico. Pan American Silver Corp., the project operator, has reported assays for three additional drill holes of phase four.
Phase Four Drill Result Summary
Phase four drilling to date has completed 6 drill holes AMDD20-22 to AMDD21-27 for total 2,785 metres. Results have been received for holes AMDD20-22 to AMDD21-25. Drilling is ongoing with drill hole 28 in progress and further drill holes planned (see figures 1, 2, 3 below).
AMDD21-023 intersected 9.55 m grading 0.59 g/t Au and 151 g/t Ag (6.5m estimated true width, 520.85m to 530.40m). Hole 23 was drilled within the high grade San Pedro shoot previously defined by drill holes 9, 10, 14, 15, 16 and 22. Hole 23 was drilled approximately 120 m down dip and on section from drill hole 16 (65.8 m at 2.3 g/t Au and 23 g/t Ag - see news release 4 Dec 2019) These drillholes define a continuous zone of gold-silver mineralization from surface to 410m down dip (see figure 2 & 3 below).
AMDD21-024 did not intersect significant mineralization.
AMDD21-025 intersected 3 mineralized zones:
0.85m grading 1.48 g/t Au and 475 g/t Ag (0.6m estimated true width, 150.85m to 151.7m)
7.6m grading 1.73 g/t Au and 70 g/t Ag (5.0 m estimated true width, 170.85m {৳ –} 178.45m)
8.05m grading 0.93 g/t Au and 99 g/t Ag (5.5m estimated true width, 285.85m {ડ –} 293.9m)
AMDD21-026 / 027 / 028 - results pending
Drilling is ongoing at Amalia and Radius will release further results as they become available. Radius and Pan American expect to complete 4400m in the current drill program.
The Agreement
Radius has granted to Pan American Silver Corp. the option to earn up to an initial 65% interest in the Amalia Project by making cash payments to Radius totaling US$1.5 million (of which US$400,000 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.
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.
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 analyse d using an appropriate method. Multi-element geochemical standards and blanks are routenely entered into the drill core sample stream to monitor laboratory performance. Quality control samples submitted to ALS were returned within acceptable limits.
Radius Gold Inc.