Drill results out today
Radius Gold drills 23 m of 6.8 g/t Au at Amalia
2021-01-20 08:24 ET - News Release
Mr. Bruce Smith reports
RADIUS GOLD INTERSECTS 23M AT 6.8 G/T AU AND 321 G/T AG AT AMALIA PROJECT, MEXICO
Radius Gold Inc. has provided 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 the first three drill holes of the phase 4 program and new results include:
AMDD20-022 assayed 23.1 m at 6.8 g/t Au and 321 g/t Ag (estimated true width 14.5m)
including 6.25 m at 18.34 g/t Au and 813 g/t Ag.
Phase Four Drill Result Summary
Phase 4 drilling to date has completed 5 drill holes AMDD20-20 to AMDD21-25 for total 2,035 metres. Results have been received for holes 20, 21, and 22. Drilling is ongoing with drill hole 26 in progress and further drill holes planned (see figures 1 and 2 below).
AMDD20-022 intersected 23.1 m grading 6.8 g/t Au and 321 g/t Ag with an estimated true width of 14.5m, including 6.25 m (est. true 3.5 m) at 18.34 g/t Au and 813 g/t Ag. Hole 22 was drilled within the high grade San Pedro shoot previously defined by drill holes 9, 10, 14, 15 and 16. Drill hole 22 was drilled approximately 85 m down dip and on section from drill hole 14 (28 m at 2.3 g/t Au and 126 g/t Ag (see news release 13 June 2019) These drillholes define a continuous zone of high grade multi-phase gold-silver mineralization from surface to current drill defined depth of 300 m (see figure 1 below). Mineralization is hosted along the Amalia fault with disseminated fine black sulphides and sulphide veining commencing within rhyolitic ignimbrites, and transitioning to intense silicification, stockwork veining and brecciation at the contact with the lower andesite volcanic agglomerates.
AMDD20-020 and 021 were drilled on sections approximately 400 m and 300 m southeast of San Pedro along the Amalia fault zone and did not intersect significant mineralization.
Drilling is ongoing at Amalia and Radius will release further results as they become available. Radius and Pan American expect to complete 4,400 m 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.