News out this morning
Radius Gold JV drills 11.12 m of 6.29 g/t Au at Holly
2021-07-07 09:34 ET - News Release
Mr. Bruce Smith reports
RADIUS REPORTS HIGH GRADE GOLD-SILVER RESULTS IN INITIAL DRILL HOLES FROM HOLLY PROJECT, GUATEMALA
Radius Gold Inc. has released results from joint venture partner, Volcanic Gold Mines Inc., at the Holly project in Guatemala, where the initial three holes on La Pena target have cut high grade gold and silver.
Highlights:
- 16 holes completed to date testing three distinct vein sets cutting the Jocotan fault zone.
- Drilling cuts high grade gold and silver at La Pena and confirms vein orientations.
- Veins appear to be increasing in size with depth.
Note: One assay of 10 samples for HDD-21-003, 10.65m interval had silver assay over 1000 g/t and at the time of press the overlimit had not been received. The grade for the interval may improve once the +1000 Ag over limit assay is received.
Radius's President and CEO, Bruce Smith, commented: "We are very pleased to see strong gold and silver intercepts from the first holes at the Holly project. With 16 holes completed, pending assays on 13 holes, on-going drilling at Holly and drilling planned at Banderas project on both the Banderas Veins and Zapote breccia, we expect an exciting period of constant news flow from Guatemala. Our JV partner has a strong treasury and assembled a large and skilled geological team to complete this work and is fully funding the operation."
The drill results shown in Table 1 include the significant higher grade intercepts but all three drill holes HDD-21-001 to 003 cut wide zones of silicification, stockwork veining, brecciation and lower grade gold silver mineralization outside the main reported intervals.
HDD-21-004 was drilled to cut the La Pena zone 50m below 003 and intersected a broad zone of vein breccia and stockwork. Results should be returned soon. After the first four drill holes at La Pena the rig moved 200m east and 100m higher elevation to test the parallel El Pino structure. Four holes were drilled at El Pino, with results pending. Subsequently the rig moved to test the historic trail zone, now called Alpha vein. Four holes have been drilled at the Alpha vein over a strike length of 450m. Each hole has cut vein and vein breccia, with results pending.
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius Gold's Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith has 27 years of mineral exploration experience and has prepared and approved the technical information contained in this news release.