Massive Intercept......13 Ounces of Gold eq/ton
ORIGINAL: Radius drills 1.53m at 191.8 g/t Au ( 6.2 ounces ) and 539 g/t Ag ( 6.7 ounces gold eq ) at Holly Project, Guatemala
2021-10-05 08:00 ET - News Release
(via TheNewswire)
Vancouver, British Columbia – TheNewswire -October 5, 2021 – Radius Gold Inc. (TSXV:RDU) is pleased to report final results from Holly drill holes HDD-21-017 through HDD-21-020 following receipt of the overlimit assays, and that the drill is again turning at Holly. Drilling at Radius’s nearby Banderas project will start during the month of October. The drill program is being conducted by joint venture partner Volcanic Gold Mines Inc, who can earn into 60% of the project by funding $7 million in exploration.
Holly Highlights:
HDD-21-017 from 134.25m to 143.08m returns 8.83m @ 8.81 g/t Au and 355 g/t Ag
HDD-21-019 from 28.97m to 30.50m returns 1.53m @ 191.8 g/t Au and 539 g/t Ag
And 171.90m to 178.42m returns 6.52m @ 11.72 g/t Au and 340 g/t Ag
HDD-21-020 from 61.70m to 67.10m returns 5.40m @ 4.38 g/t Au, 350 g/t Ag
Including 63.0m to 64.0m returns 1.00m @ 20.70 g/t Au and 1,616 g/t Ag
And 131.0m to 134.20m returns 3.20m @ 2 55 g/t Ag
Results from Holly continue to return high grade broad intercepts accompanied by high associated values in path finder elements such as Mercury and Antimony. It is management’s belief that we are still high in the epithermal system and the next round of drilling continues to step down the Jocotan Fault Breccia testing this broader system at depth.
Within the Pea vein hanging wall, splay veins are producing spectacular results as shown by the bonanza interval in HDD-21-019 returning 1.53m @ 191.8 g/t Au and 539 g/t Ag from 28.97m down hole. La Pea is one of many north-south veins that cross the regional east-west Jocotan plate bounding fault system. With growing understanding of the controls on mineralization at Holly, the program is consistently intersecting the north-south Pea vein system within the wide Jocotan fault breccia, where gold-silver grades are the highest. A major focus of the upcoming drilling will be to test the extensive breccia in the plate bounding Jocotan fault.
Results are still pending from latest step out holes to the north and south. The initial step out hole to the north, HDD21-015, returned 15.55m @ 7.67 g/t Au and 615 g/t Ag, and HDD21-017 to the south of the Jocotan breccia (above) returned 8.83m @ 8.81 g/t Au and 355 Ag.
Figure 1. La Pea Zone; Long Section:
Click Image To View Full Size
Note: Reported intervals are drilled width. True width is estimated at 80% of true width.
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
Volcanic Gold 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 Bureau Veritas certified laboratories. The samples are fire assayed for Au and are analyzed for Ag and multi-elements using method code ICP following a four-acid digestion. Overlimits 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
Pursuant to an option agreement signed in May 2020 with Radius, Volcanic can earn a 60% interest in Radius’s Holly and Banderas projects by spending the cumulative amount of US$7.0 million on exploration of the properties within 48 months from the date of the agreement. An initial US$1M must be spent on exploration within the 12 months of receiving the required drill permits, which expenditure will include a minimum 3,000m of drilling on the properties.
Following the exercise of the Option, Volcanic will enter into a standard 60/40 Joint Venture in order to further develop the Properties. Volcanic has also been granted an exclusive right to evaluate all other property interests of Radius in Guatemala with a right to acquire an interest in any or all other such properties on reasonable terms.
Radius Gold Inc.