Radius to Drill Test High Grade Silver Discoveries in Eastern Guatemala
announce that drilling will commence shortly at its HB silver/gold
projects in eastern
projects with a series of shallow holes between 2002 and 2003 when the
silver and gold spot prices were close to their record lows. However,
recent discoveries in the region – including Tahoe Resources Inc.’s
world class Escobal silver deposit – have highlighted the potential of
American exploration on the region.
Work resumed several months ago with a review of the regional data base
of stream sediment sampling and prospecting that Radius has built over
several years in
applications being presented to the ministry of mines covering strong
silver-lead-zinc anomalies. Radius is waiting for the granting of
these concessions to do follow-up work.
Within the granted concession (HB property) work has also lead to the
discovery, or in some cases re-discovery, of some very high-grade
silver veins within the large HB epithermal system. The silver
results are focused on the Pyramid Hill zone, a 3 kilometer long vein
zone that has returned some encouraging drill intercepts at shallow
depths in previous programs.
Radius recently submitted core from the previous HB drilling for
analysis by the Corescan 11 system in
automated hyper-spectral scanning system that applies the latest
spectral mapping and imaging technology to sub-millimeter scale
alteration and mineral mapping from drill core. The work identified
that the clay mineral Buddingtonite (a component of some advanced
argillic alteration systems) is present in the hydrothermal alteration
major silver deposits, including MAG Silver’s Valdecanas vein in the
in the alteration well above the Bonanza zone, perhaps as much as 300m
to 400m above. Drilling at Tahoe’s Escobal discovery also hit high
silver grades between 200m to 400m below surface.
In summary, the existing geological evidence suggests that Radius’
drilling needs to test for Bonanza type veining substantially deeper
than previous drilling has tested at Holly and
below, historic drill results, including the depths of the intercepts
from the previous drill campaigns, are listed:
|Hole||From||To||Interval||Au g/t||Ag g/t|
Drilling will commence shortly, with the initial holes focusing on
extending the previous intercepts down dip and along strike, as well as
testing the high grade silver veins within the Pyramid Hill vein zone.
A minimum 10,000 meter drill program is anticipated.
Association of Professional Engineers and Geoscientists of
Instrument 43-101. Mr. Cass is responsible for the accuracy of the
technical information in this news release.
Radius has been exploring for gold in
and has assembled interests in a portfolio of promising gold projects
throughout the region, including carried stakes in two small-scale
developing gold projects in
two 100% owned exploration plays, the HB property in
Sixty Mile property in the
ON BEHALF OF THE BOARD
Shares Issued: 73.5-million
Some of the statements in this news release contain forward-looking
information that involves inherent risk and uncertainty affecting the
business of Radius Gold Inc. Actual results may differ materially from
those currently anticipated in such statement.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
accuracy of this release.
SOURCE Radius Gold Inc.