News out this morning VG
ORIGINAL: Radius reports further high-grade results including 15.55m @ 7.67 g/t gold and 615 g/t silver at Holly Project, Guatemala
2021-08-24 08:02 ET - News Release
(via TheNewswire)
August 24, 2021 - TheNewswire - Vancouver, British Columbia - Radius Gold Inc. (TSXV:RDU) (OTC:RDUFF) is pleased to report further high-grade results from the La Pea vein at the Holly project in Guatemala. The drill program being conducted by joint venture partner, Volcanic Gold Mines Inc., who can earn into 60% of the project by funding US$7 million in exploration.
The last hole reported from La Pea zone was hole HDD21-004, which intersected an impressive 14.8m at 3.86 g/t Au and 1,097 g/t Ag (press release July 16, 2021). Core adjacent to the reported intercept that was not sampled in the original program has recently been sampled and assayed. This extended the intercept in hole HDD21-004 to 24.0m @ 3.1 g/t Au and 694 g/t Ag.
Hole HDD21-014, the next hole to target La Pea structure, cut the vein zone approximately 50m below surface, 70m higher that hole 004. The hole cut broad silver intercept of 28.3m @ 42 g/t Ag with strongly anomalous mercury and antimony with two narrow gold intervals including 2.53m @ 2.90 g/t Au and 108g/t Ag, and 2.1m @ 3.60 g/t Au and 92 g/t Ag. The interpretation is that this hole cut La Pea structure above the main ore shoot.
Hole HDD21-015 targeted La Pea structure at an elevation of 875m, 50m down dip from 014 and 40m north of hole HDD21-004, within the Paleozoic phyllites. Hole HDD21-015 returned 15.55m @ 7.67 g/t Au and 615 g/t Ag, including 7.25m @ 16.20 g/t Au and 848 g/t Ag.
As with the results in previous holes, gold / silver ratios from 1 to 50 to 1 to 1000 indicate multiple mineralizing events.
For example: interval 108.65m to 109.65m returned 39 g/t Au and 2,400 g/t Ag
interval 117.42m to 118.95m returned 240ppb Au and 1,200 g/t Ag
Results to date indicate the La Pea system is improving at depth with wider intervals and better grades than compared with the near surface intercepts.
Holes HDD21-016 to HDD21-025 have tested the La Pea structure over a strike length of over 300m and to depths of 200m, and the system remains open in all directions. Results from these holes are expected in the next two weeks.
Figure 1. La Pea Zone; Long Section:
Click Image To View Full Size
Steep terrain at Holly Ridge requires a large local work force to manage portable rig moves on the steep slopes. With the first rains of the planting season the local workers requested and Volcanic agreed that they will take time to sow their crops. As well, the drill rig will undergo needed maintenance. The break will allow management time to receive results for the ten holes pending and to plan targeting the deeper more complex intersections of the Jocotan Fault breccia and the La Pea vein system.
Drill holes HDD21-005 through HDD21 -013 tested El Pino and the Alpha structures. Narrow intercepts of medium and anomalous grade gold/silver were intersected. These holes tested historic surface anomalies. Drilling at El Pino cut the vein zone significantly higher than intercepts at La Pea and that may account for the narrow results. At the Alpha zone, the system was not targeted within the 200m wide Jocotan fault breccia, which drilling at La Pea indicates may be a key control on the mineralizing system.
Drilling will re-commence once results of holes HDD21-016 to HDD21-025 have been received and the planting season is complete, likely mid-September.
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.
Quality Assurance and Quality Control
The project operator, Volcanic Gold Mines Inc., follows industry standard procedures for diamond core drilling and analysis. 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 internationally certified Bureau Veritas Mineral laboratory facilities in Nicaragua where the samples are prepared. Assays are completed by Bureua Veritas in Canada. The samples are fire assayed for Au and are analyzed for Ag and multi-elements using method code ICP following a four-acid digestion. Over limits are analyzed using an appropriate method. Multi-element geochemical standards and blanks are routinely entered into the drill core sample stream to monitor laboratory performance. Quality control samples submitted were returned within acceptable limits.
Terms of Guatemala Radius Gold and Volcanic Gold Mines option