Superb Intercepts at Amalia Too
Radius Gold drills 26.9 m of 2.59 g/t Au at Amalia
2021-10-25 09:19 ET - News Release
Mr. Bruce Smith reports
RADIUS INTERSECTS 26.9M AT 353 G/T SILVER AND 2.59 G/T GOLD IN FIRST DRILL RESULTS FROM CALIFORNIA TARGET, AMALIA PROJECT, MEXICO
High-grade gold and silver has been intersected in multiple drill holes in the first phase of drilling at Radius Gold Inc.'s California target, Amalia project, Mexico. Radius's joint venture partner, Pan American Silver Corp. (PAS), is the project operator and is fully funding the program.
3814m of diamond core drilling in 14 drill holes has been completed at the California target on 5 sections spaced 200m apart, defining a new mineralized system across a strike length of 1km. Results have been received for the first 10 drill holes and gold-silver mineralization has been intersected in every hole.
California drill highlights include:
AMDD21-32 27.3m @ 90 g/t Ag and 0.26 g/t Au
AMDD21-34 3.95m @ 487 g/t Ag and 2.15 g/t Au
AMDD21-36 1.75m @ 578 g/t Ag and 0.27 g/t Au
AMDD21-38 11.2m @ 379 g/t Ag and 1.26 g/t Au
AMDD21-39 26.9m @ 353 g/t Ag and 2.59 g/t Au
The first target on the Amalia fault delivered bonanza grade discovery holes at San Pedro with AMDD18-009 (26m at 7.08g/t Au and 517 g/t Ag, press release Dec 4 2018 ) and AMDD19-010 (44m grading 12.38 g/t Au and 309 g/t Ag, press release May 1 2019 ). The San Pedro target was systematically drilled defining a gold-silver mineralized shoot to 450m depth below outcrop, before PAS moved to California (Figure 1, Figure 2).
At California the initial shallow drilling has intersected multi-phase breccias and stock-work vein systems with significant widths (up to 50m), strike length (+1km) and high grades (individual samples maximum values to 4210 g/t Ag and 33.1 g/t Au).
The California vein breccia system has been mapped for 2.8km with initial drill testing limited to 1km where access is easiest (Figure 3). California lies parallel to the Amalia vein system 1.4km NE and at an elevation 450masl higher. The host rock at California is dominantly rhyolite and dacite flows and the host rock of the Amalia vein is dominantly rhyolite tuffs. The host rock relationship indicates that California is potentially closer to the mineralizing source, and the 450m elevation difference indicates potential for significant depth expansion. The California system is open in all directions and has great potential.
At the 3 rd major breccia and vein target, El Cuervo, drill testing has commenced. El Cuervo is located between the Amalia and California systems. It was once thought to be a strike extension of the Amalia fault, but recent mapping indicates a separate parallel system of silicification, stockwork veining and brecciation up to 40m wide that has been defined semi-continuously for 1.5km, with surface rock chip samples that range from below detection to 637 g/t Ag and 2.24 g/t Au. PAS has initiated a helicopter supported drill program and expects to complete 3500m of diamond drilling before Christmas.
Bruce Smith, Radius CEO, comments, "The new results from California are a compelling demonstration of the potential of the Amalia project. I am proud of Radius's team for identifying the project, compiling a large 10,250ha regional land package, prospecting very tough terrain and defining multiple drill targets. Our joint venture partner Pan American's systematic approach, highly skilled team and financial resources has produced high-grade gold-silver results at Amalia and now another set of compelling results from the California system. With helicopter supported drilling commencing at El Cuervo and a long list of other targets yet to be drill tested, Amalia is developing into a great project that has potential to produce many new discovery zones."
Figure 1. Radius Gold's Amalia Project.
Click Image To View Full Size Figure 2. Amalia project target summary map.
Click Image To View Full Size Figure 3. California target {ᡝ –} Drilling progress
Click Image To View Full Size Figure 4. California Drill Sections: AMDD21-038 to AMDD21-40
Click Image To View Full Size Table 1. California full table of diamond drill results:
Click Image To View Full Size
Note: The published drill intersects are drilled width not true widths. True widths are estimated between 80 and 90% drilled width. A complete set of cross sections from California will be available on the Company's website.
The Agreement
Pursuant to an option agreement signed in June 2018, Pan American Silver Corp. has the option to earn up to an initial 65% interest in the Amalia Project by making cash payments to Radius totalling US$1.5 million (of which US$800,000 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.
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