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Last updated on April 23, 2014 at 1:22 EDT

Radius Gold Reports Trench Results of 1.16g/t Gold over 90m from Trebol Project in Nicaragua

March 23, 2010

VANCOUVER, March 23 /PRNewswire-FirstCall/ – Radius Gold Inc. (TSX-V: RDU) – Radius Gold is pleased to report on recent work completed by B2Gold (“B2″) at the Trebol project in north-eastern Nicaragua, where trenching and sampling programs continue to expand the known extent of the epithermal gold mineralization discovered by Radius. Two of B2′s recent trenches have yielded continuously mineralized intervals nearly 100 meters in length averaging around 1 g/t Au.

Based on the trenching, and incorporating Radius’ historical drilling results, B2 has identified a mineralized zone with potential to outline a shallow oxide gold resource that may be amenable to open pit mining. Highlights of B2′s recent sampling include:

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    Trench #         Width (m)         Au g/t            Best Interval
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    TR-TREB-03 W             90            1.16         6m @ 6.26 g/t Au

    TR-TREB-32              108            0.69        49m @ 1.22 g/t Au

    TR-TREB-34             91.5            0.95        12m @ 1.4 g/t Au
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Trenching is defining a potentially extensive, shallow-dipping, tabular shaped zone of gold mineralization in the Cerro Domingo area, hosted by silica replacement along a favorable horizon in the volcanic package with local high-grade veining. Of particular interest at the west end of trench 03W is a six meter zone of vein breccia that grades 6.26 g/t Au and appears to continue beneath the alluvium.

Trench 32, which is 2 kilometers to the northeast of Cerro Domingo, suggests potential for another shallow dipping tabular zone. Individual samples returned high grade gold mineralization with values in excess of 8g/t Au locally in vein breccia cutting a tuffaceous volcanic unit containing cockscomb quartz, lattice, and vuggy textures with local adularia. The tuff unit dips at a shallow angle to the west and may be continuous with a zone of high grade gold mineralization in Radius’ trench 5 located over 200m to the west which yielded 11.7m of 2.7 g/t Au and is still open in both directions. More trenching will be needed to identify possible drill targets in this zone but, like the Cerro Domingo zone, the mineralized host rock could be of significant lateral extent.

A major soil sampling program covering roughly 17 km(2) is in progress designed to infill the area between the main Cerro Domingo zone and the newly discovered SW Trebol zone located some 5 kilometers to the south west, where numerous blocks of silicified hydrothermal breccia have been found. B2′s geologists are also systematically mapping and sampling the siliceous “hogbacks” which occur along the low-lying ridges across the region to define prospective areas for new trenching. A plan map showing the locations of trenches sampled by B2 is available on the Trebol project page on Radius’ website.

B2Gold is earning into a 60% interest in Trebol and other Nicaraguan exploration properties owned by Radius by spending a total of US$4-million on exploration of any one or more of the properties within four years from the date of the agreement. When B2Gold has spent the US$4-million, it will own a 60% interest in all of the properties and a joint venture will be formed under which each party will contribute its prorated share of the exploration costs.

    Pavon Project
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B2 also continues to trench at the Pavon project in central Nicaragua, where they are evaluating the potential for production from near surface high grade zones in the epithermal veining discovered by Radius in 2003 (see Radius news releases from 2003 and 2004). At Pavon Norte, seven trenches have been opened, two of which have been mapped and sampled. Additionally, B2 cut 16 new trenches at Pavon Sur.

Qualified Person

David Cass, Radius’s Vice-President of Exploration, is a member of the Association of Professional Engineers and Geoscientists of British Columbia, and is the Company’s qualified person as defined by National Instrument 43-101. Mr. Cass is responsible for the accuracy of the technical information in this news release and has verified that it is an accurate summary of the reports provided to Radius by B2Gold. Radius has not independently verified B2′s assay results.

    ON BEHALF OF THE BOARD

       "Simon Ridgway"
    Simon Ridgway, President

    Investor relations: Ralph Rushton / Erin Ostrom
    Symbol: TSXV-RDU; OTCBB-RDUFF
    Shares Issued: 53.6-million

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

SOURCE Radius Gold Inc.


Source: newswire