Radius Gold defines two new targets at Plata Verde
2021-02-03 09:29 ET - News Release
Mr. Bruce Smith reports
RADIUS GOLD DEFINES NEW DRILL TARGETS AT PLATA VERDE SILVER PROJECT
Radius Gold Inc. has published the results of recent geophysical surveys completed at the company's Plata Verde silver project located in Chihuahua, Mexico. New IP/resistivity sections show significant structural zones extending to depth directly below the known large-scale historic silver mines. The structural zones are clearly connected with the historic mines and are possibly feeders zones for the silver mineralizing system. Radius has now defined two priority targets:
- Extensions and repetitions of the shallow dipping large scale silver rich breccias, stockworks and disseminated silver mineralization exposed within the historic mines; and
- Subvertical feeder zones below the historic silver mines.
At Plata Verde, Radius geologists rediscovered an undocumented large-scale underground bulk mining operation where, in the late 1800s, historic miners hand excavated an extensive series of anastomosing mines, producing silver bars at an associated smelter operation. The project was unexplored since the historic miners ceased operations. Initial phases of rock chip sampling by Radius geologists returned widespread silver mineralization between five and 1,070 grams per tonne silver over a 200-metre by 500-metre area within the historic mines. Two hundred fifty five rock chip and panel samples have been collected from the mines and average 156 g/t silver, detailed in Radius's press release July 22, 2020. The silver mineralization is hosted within a shallow dipping basaltic andesite exposed in a deeply incised drainage with principal extensions covered by rhyolitic agglomerates. The silver mineralization is best exposed in the mines which extend horizontally up to 180 metres under rhyolitic cover.
Plata Verde geophysics
Radius has recently completed sampling and processing geophysical programs at Plata Verde, consisting of a 7.5-line-kilometre magnetic survey and a 4.5-line-kilometre IP/resistivity survey conducted by consultants, Geofisica TMC. The program was designed to locate potential feeder systems below the historic silver mines and successfully identified compelling drill targets below the known mines. All relevant data and sections from the geophysical surveys are available on the Radius website.
Geological model, silver mineralization and exploration targets
Radius's geological team has completed detailed underground mapping and sampling of the historic Mina Real and Mina Mojonera. Three distinct mineralization styles have been defined within the basaltic andesite volcanic host rock:
- Multiple large-scale breccia zones with chimney-type structures up to 75 metres diameter and sampled on multiple mine levels. The breccias are cemented by massive to crustiform banded barite calcite with silver chlorides, sulphosalt minerals and native silver;
- Fracture fill and stockwork silver mineralization occurs as massive to crustiform banded barite calcite with silver chlorides, sulphosalt minerals and native silver; and
- Disseminated style mineralization with fine silver sulphosalts disseminated within the volcanic host with little to no brecciation, veining or fracture fill.
In general the silver mineralization is covered by the overlying rhyolitic volcanics and is only exposed within the historic mines and at surface in a few areas along the length of a small creek.
The barite/silver chloride mineralization appears to be a late-stage low-temperature mineralizing event with the source and feeder systems an attractive exploration target. Barite and silver chloride are often part of the upper levels or supergene zone around large silver deposits. The solubility of barite and silver chlorides is low, and hence the source zone is likely to be close by. Extensions of the known mineralization below the ignimbrite cover to the north, east and west are open. Potential feeder structures have been clearly defined by the recent geophysics. Radius has completed an environmental study in support of drill permits which have been recently filed. The company looks forward to drill testing the compelling targets once drill permits are granted.
The agreement
Radius can earn a 100-per-cent interest in the project by making staged payments to the property owner totalling $800,000 (U.S.) over four years with a final payment of $400,000 due at the end of year four. A total of $16,000 has been paid to date. The owner retains a 1-per-cent net smelter returns royalty which Radius can buy back for $1-million (U.S.).
Technical information
Bruce Smith, MSc (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 worked in the field at Plata Verde, and prepared and approved the technical information contained in this news release.
Quality assurance and quality control
Reported assays are rock chip and channels samples taken by Radius geologists and trained sampling teams. Sample intervals are generally two-metre chip channels or two-metre by two-metre panels producing samples of between two kilograms to nine kilograms. Reported samples were delivered to SGN Laboratories in Paral, Chihuahua. The samples were crushed and pulverized. Two 100-gram splits were taken. Radius geologists removed and stored the excess and a 100-gram split at the Radius offices. SGN proformed initial silver and gold analysis. The second split was subsequently sent to the ALS Geochemistry laboratory facilities in Chihuahua, Mexico, and was analyzed for Ag and multielements using method code ME-ICP61 following a four-acid digestion. Overlimits are analyzed using an appropriate method. All assays reported above 30 g/t Ag have been analyzed by ALS Geochemistry. Radius routinely inserts multielement geochemical standards and blanks into the sample stream to monitor laboratories performance. Quality control samples submitted were returned within acceptable limits. Comparisons between sample splits demonstrate acceptable accuracy and precision.
About Radius Gold Inc.
And this from Mark@IKN full of sound and fury
02 / 04 / 21
These buffoons were so hasty in jumping onto the bandwagon they forgot their own corporate logo needed to change, not just the corporate title:
Another no-hope copper junior transforms itself into a no-hope silver company in order to steal your money. Do not feed the animals.
02 / 03 / 21
The house model on silver has predicted its movements well for years and the IKN track record on the metal is better than any of the so-called specialist sites, proven once again by correctly identifying last week’s obvious pump for what it was, not the daft silversqueeze nonsense promoted by self-serving scumbags to the dumb greedy idiots.
More broadly, if you want to win at mining stocks you too should get into the habit of laughing hard at the silverbugs and their financial fantasy world. The last few days have given you plenty of evidence that real money ignores these greenhorns, ignore it at your peril.
02 / 03 / 21
Reader A was kind enough to send me this link a few days ago and, having got round to using it last night (was busy A, thank you), it gets immediate mention here on the blog because the free download paper attached to that link is excellent source material for those of us who regularly run ballpark numbers on mining projects.
If you only pay attention to one post on this humble corner of cyberspace this week, this is the one. We leave you with the abstract from the link page, hopefully it whets your appetite.
Abstract
This handbook provides simplified cost models for evaluating underground mines. Regression analysis is used to generate capital and operating cost equations for each model in the form Y = AXB, where Y is the cost estimated and X is the assumed production capacity in tonnes per day. A and B are constants determined by the regression analysis. Equations are developed for operating costs in five subcategories: equipment operation, supplies, hourly labor, administration, and sundries. Subcategories for capital costs are: equipment purchase, preproduction underground excavation, surface facilities, engineering & management, contingency, and working capital. Cost models are developed for eight underground mining methods.
02 / 03 / 21
Away from the retirement of its shady Wide Boy of a boss, Pan American Silver (PAAS) has a big day coming up this Friday, February 4th 2021. Governor Arcioni last night used his emergency powers to convoke an extraordinary session of the Chubut parliament for this Friday (it’s normally on summer vacation until March) and, alongside a couple of law projects concerning matters of the province, the session is set to debate and vote on the “zonification” law project that would allow the PAAS Navidad project to be permitted and move forward.
There are 27 parliamentarians and a simple majority (14) is needed to pass the law project. The pro-mining Arcioni would not have called this session without feeling confident about getting the result he wants, the strong and militant anti-mining group in the province may think otherwise. We shall see.
02 / 03 / 21
Loud and jocular in public, arrogant and boorish in private, Simon Ridgway is the archetype sector Circus Showman so seeing his Radius Gold (RDU.v) join the desperate chase for the dumbest of the dumb money, i.e. the retail who still think this is a silver bullion squeeze, is no surprise at all.
Radius Gold Defines New Drill Targets at Plata Verde Silver Project