Radius Announces Remaining Trebol Drill Results and Commencement of Drilling at Estrella De Oro
Simon Ridgway, President of Radius Gold Inc. (TSX VENTURE: RDU)(OTCBB: RDUFF), is pleased to announce results for the remaining diamond drill holes at the Company’s 100%-owned Trebol project located in northeastern Nicaragua.
Further to the Company’s press release dated August 7th, 2008, 516m in four additional holes were drilled, for a total of 963m for the program.
All holes with the exception of TRDH-08-06 were drilled at minus 45 degrees and represent approximate true widths. Results are tabulated below and an updated drill collar location map and drill sections will be available shortly on the Radius website.
------------------------------------------------------------- From To Interval Hole ID (m) (m) (m) Assay Au g/t ------------------------------------------------------------- TRDH-08-06 2.15 7.97 5.82 1.02 TRDH-08-07 No Significant Assays TRDH-08-08 57.6 108.1 50.5 0.61 incl. 68.08 69.0 0.92 11.21 TRDH-08-09 No Significant Assays
The drilling to date at Trebol has demonstrated a consistent, tabular geometry of the mineralized zones which form shallow to moderately dipping slopes to a series of silicified ridges that occur over a 6km strike length. Mineralization is of low-sulphidation epithermal affinity and is believed to have resulted from the replacement of a tuffaceous sandstone/lithic tuff unit on transition into a footwall mafic volcanic unit of basaltic composition. The zones of gold mineralization exceed 50m in true thickness in holes TRDH-08-05 (53.4m @ 1.35 g/t Au) and TRDH-08-08 (50.5m @ 0.61 g/t Au), both located in the southwest of the property. The high grade gold values received from trench sampling are seen to diminish gradually over tens of meters below the surface, most likely due to a supergene enrichment effect taking place in the surficial environment.
TRDH-08-06 was drilled at -45 degrees to the southeast to test underneath the silicified ridge in the vicinity of Trench 17, where surface trench sampling gave gold grades ranging from 0.47 g/t to 2.07 g/t Au (averaged 0.87 g/t Au over 20m). Crustiform and banded epithermal quartz with some amethyst was intersected in the first few meters of the hole, and assayed 1.02 g/t Au over 5.82m, and gave way to a sequence of basaltic tuffs, breccias and flows, showing that the silicified zone forms the western dip slope of the ridge and has a gentle to moderately dipping tabular geometry.
TRDH-08-07 was drilled from the same location as TRDH-08-03 at an azimuth of 280 degrees and an inclination of 70 degrees, and was designed to test the extension of the broad banded quartz and stockworks intercepted in TRDH-08-03 for depth continuation and deeper higher grade feeder mineralization (refer to press release dated August 7th, 2008). From 185.8m to 205m (end of hole) the mineralized zone was intersected but showed weaker stockwork development and gold values ranging from 0.06 to 0.6 g/t Au.
TRDH-08-08 was drilled some 85m west-north-west along section of TRDH-08-05 to test the down dip extension of the near surface mineralization intersected in the latter (1.36 g/t Au over 53.41m). Similar quartz-adularia banded vein and stockworks were intersected from 57m to 108m, however grades were generally weaker and averaged 0.61 g/t Au over the interval.
TRDH-08-09 was drilled at the base of the ridge some 65m northwest and along section of TRDH-08-04 to test the down dip extension of the near surface mineralization in this hole (1.44 g/t Au over 21.08 m). The base of the silicified zone was drilled within the first few meters and assayed less than 1 g/t Au, and passed into an altered sequence of tuffaceous mafic volcanic flows and breccias, with only anomalous values in gold (generally less than 0.5 g/t Au), indicating that the silicified zone is eroded further down slope to the west.
Soil geochemistry and follow-up trenching has identified several additional zones of similar style mineralization associated with low-lying ridges located up to several kilometers away from the main ridge. Further drilling will be required to evaluate the resource potential of the outcropping, near surface gold mineralization for bulk mining.
Estrella de Oro
Drilling has commenced at the Estrella de Oro property located 17km west of Siuna, on the fringe of the historical Bonanza District in north-central Nicaragua. A series of holes is planned to test the continuity of high grade gold values sampled in trenches from a series of at least three parallel, high grade quartz veins/shoots, along the length of the Cerro Estrella ridge. Sampling by Radius gave up to 6.73 g/t Au over 15.2m. See the Estrella project page on the Radius website www.radiusgold.com.
Assay Protocol & Qualified Person
Sample preparation and analyses were conducted by CAS Laboratories in Tegucigalpa, Honduras. Samples were analyzed for Au, using a 30 gram pulp with Fire Assay AA, with gravimetric finish. Radius carries out its own Quality Assurance/Quality Control protocol that involves the regular insertion of certified standards, blanks and field duplicates into the sample stream. Check assays on both pulps and coarse rejects are undertaken at Acme Laboratories in Vancouver.
Core samples (HQ diameter) were cut at site in half using a diamond saw, with one-half of the core stored on site for future reference, and one half sent to the laboratory for analysis. The half core for analysis is placed in bags, numbered, sealed and then sent via secure transport to CAS laboratories for preparation and analysis.
The scientific and technical information in this release was prepared under the supervision of Mr. David Cass, Radius’ Vice-President of Exploration, who is a member of the Association of Professional Engineers and Geoscientists of British Columbia, and a “Qualified Person” in accordance with National Instrument 43-101.
Radius Gold is a Canadian junior gold explorer with a portfolio of exploration properties in Mexico, Nicaragua, Guatemala, Ecuador and Peru. The Company’s strategy is to build value for shareholders by the identification, acquisition and exploration of early-stage properties that show significant potential for the discovery of gold.
ON BEHALF OF THE BOARD
Simon Ridgway, President
The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.
Contacts: Radius Gold Inc. Ralph Rushton Investor Relations (604) 801-5432 or Toll Free: 1-888-627-9378 Radius Gold Inc. Erin Ostrom Investor Relations (604) 801-5432 or Toll Free: 1-888-627-9378 (604) 662-8829 (FAX) Email: email@example.com Website: www.radiusgold.com
SOURCE: Radius Gold Inc.