Radius Gold defines large silver system at California Target, Amalia Project, Mexico

2021-12-15 / @thenewswire

(TheNewswire)

Vancouver, British Columbia – TheNewswire - December 15, 2021 – Radius Gold Inc. (TSXV:RDU) is pleased to report results from the California target at the Amalia Project, Mexico (Figure 1). Radius has defined an extensive zone of both high grade and disseminated silver gold mineralization in its initial drill program at the California target (Figure 2 and Table 1).

The initial 14-hole, 3814m drill program intersected multi-phase breccia and stock-work vein systems with significant widths and high grades up to 4210 g/t Ag and 33.1 g/t Au. All assays have now been received and the drill rig moved to the El Cuervo target where drilling is in progress.

New drill results include:

AMDD21-045 87.25m @ 60 g/t Ag

Including 10.95m @ 104 g/t Ag

And 3.10m @ 165 g/t Ag

And 3.30m @ 187 g/t Ag

Bruce Smith, Radius CEO, comments, “The results from California are a great advance for the Amalia Project, with multiple intersections over 1km of strike including:

AMDD21-034 3.95m @ 487 g/t Ag and 2.15 g/t Au

AMDD21-038 11.20m @ 379 g/t Ag and 1.26 g/t Au

AMDD21-039 26.90m @ 353 g/t Ag and 2.59 g/t Au

AMDD21-043 12.75m @ 259 g/t Ag and 0.54 g/t Au

AMDD21-044 19.05m @ 346 g/t Ag and 0.63 g/t Au

The system remains open to expansion along strike and to depth and so far has only been drilled on 200m centers. With the San Pedro zone drill defined and infill drilling planned for next year at California, we will be in a position to define a significant resource at the Amalia Property. With drilling on-going at the El Cuervo target and many targets remaining to drill test (Oro Viejo, La Caverna, California SE), 2022 will be an exciting year for Radius.”

Drilling is currently in progress at El Cuervo target, which is a previously untested, subparallel structure where stockwork veining and brecciation has been mapped up to maximum 40m wide and semi-continuously for 1.5km. Surface rock chip samples at El Cuervo range from below detection to 637 g/t Ag and 2.24 g/t Au. PAS is operating the El Cuervo drill program and expects to complete 3500m of drilling in the first program at the target.

Figure 1. Geology and target overview - Amalia Project.

Click Image To View Full Size

Figure 2. California target – Drilling and Ag geochemistry

Click Image To View Full Size

Table 1. Drill results California Target

DRILLHOLE	FROM (m)	TO (m)	INTERVAL (m)	Ag (g/t)	Au (g/t)	Est.TrueWidth
AMDD21-032	38.10	44.30	6.20	93	0.43	5.62
and	62.70	90.00	27.30	90	0.26	24.74
Including	78.00	80.35	2.35	220	0.61	2.13
Including	86.00	88.60	2.60	263	1.37	2.36
AMDD21-033	148.60	199.00	50.40	50	0.05	23.66
Including	178.80	194.25	15.45	68	0.07	7.25
Including	188.20	192.40	4.20	113	0.12	1.97
AMDD21-034	145.70	149.65	3.95	487	2.15	3.58
Including	146.80	149.65	2.85	658	2.96	2.58
Including	148.00	148.50	0.50	2810	15.15	0.45
AMDD21-035	212.65	229.80	17.15	35	0.07	10.32
and	243.10	243.50	0.40	482	3.36	0.24
AMDD21-036	108.60	110.35	1.75	578	0.27	1.59
Including	109.90	110.35	0.45	1930	0.71	0.41
AMDD21-037	177.95	180.40	2.45	37	0.18	1.30
Including	177.95	178.55	0.60	54	0.53	0.32
AMDD21-038	151.00	162.20	11.20	379	1.26	9.06
Including	156.20	157.00	0.80	4244	16.96	0.65
Including	156.20	156.55	0.35	4210	33.10	0.28
AMDD21-039	308.20	335.10	26.90	353	2.59	20.30
Including	308.20	331.90	23.70	394	2.93	17.89
Including	314.45	321.95	7.50	976	7.38	5.66
Including	317.85	321.95	4.10	1520	12.61	3.09
AMDD21-040	385.35	396.50	11.15	99	0.64	6.55
Including	385.35	393.55	8.20	120	0.78	4.82
Including	388.45	391.10	2.65	210	1.12	1.56
Including	389.60	391.10	1.50	249	1.28	0.88
AMDD21-041	144.00	145.25	1.25	36	0.03	1.13
AMDD21-042	216.95	218.50	1.55	24	0.003	0.889
AMDD21-043	102.25	115.00	12.75	259	0.54	9.48
Including	108.05	114.05	6.00	483	1.06	4.46
Including	108.05	111.25	3.20	705	1.92	2.38
AMDD21-044	273.00	312.65	39.65	204	0.35	29.47
Including	283.00	312.65	29.65	256	0.44	22.03
Including	287.50	306.55	19.05	346	0.63	14.16
Including	301.00	306.55	5.55	770	1.69	4.12
Including	304.00	305.65	1.65	1446	5.11	1.23
Including	305.00	305.65	0.65	2470	11.90	0.48
AMDD21-045	333.75	421.00	87.25	60	0.05	50.04
Including	339.50	350.45	10.95	104	0.09	6.28
Including	359.50	362.60	3.10	165	0.08	1.78
Including	413.90	417.20	3.30	187	0.29	1.89

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.

Quality Assurance and Quality Control

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 ALS Geochemistry laboratory facilities in Chihuahua, Mexico. The samples are fire assayed for Au and are analysed for Ag and multi-elements using method code ME-ICP61 following a four-acid digestion. Overlimits are analysed 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 to ALS were returned within acceptable limits.

Technical Information

Bruce Smith, M.Sc. (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 reviewed and approved the technical information contained in this news release.

Radius Gold Inc.

Radius has a portfolio of projects located in Mexico, United States and Guatemala which it continues to advance, utilizing partnerships where appropriate in order to retain the Company’s strong treasury. At the same time, management is seeking out additional investment and project acquisition opportunities across the globe.

ON BEHALF OF THE BOARD

Bruce Smith

President and CEO

Symbol: TSXV-RDU

Contact: Bruce Smith

200 Burrard Street, Suite 650

Vancouver, BC V6C 3L6

Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829

Email: info@goldgroup.com

Website: www.radiusgold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the results of exploration work and future plans at the Amalia Project. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the planned exploration work at Amalia will proceed as intended; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the exploration work at the Amalia Project will advance as planned; that the Company’s stated goals and the planned exploration and development activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.