Radius Samples 58.26 g/t Au and 1,937 g/t Ag over 5.1 m at Pino Zone, Guatemala
VANCOUVER, May 16 /PRNewswire/ – Radius Gold Inc. (TSX-V: RDU) is pleased to
report results from the first trench on the new Pino zone at the 100%
owned HB project located in eastern Guatemala. Radius holds over 1,500
sq. km. of granted concessions and concession applications in the
region covering a virtually unexplored Tertiary volcanic belt that has
recently been shown to host world class intermediate and low
sulphidation silver/gold deposits.
In a release of May 5, 2011 Radius reported the identification of a high
grade float boulders on the north side of the Holly ridge. Although
these boulders were initially thought to have travelled down slope,
perhaps from eroded veins, the size of the quartz blocks warranted
sampling. A total of 18 historic and recent samples collected from the
quartz float, returned grades from just under 1 g/t Au up to 112 g/t Au
and over 5,600 g/t Ag, with many of the samples returning over 500
grams per tonne silver.
Recent trenching by Radius geological staff has revealed
texturally-similar quartz veins in situ cutting the schistose rocks in
the area of the boulders. Assay results have now been received for 4
chip samples constituting a continuous sample of 5.1 m of the vein
exposed in the trench, which has returned:
58.26 g/t Au and 1,937 g/t Ag over 5.1 m (including 110.28 g/t Au and
3,520.6 g/t Ag over 2.0 m)
At the present time we do not know the true width of the structure and
further trenching is required to determine the strike and dip of the
vein. Radius completed grid based soil geochemistry and geophysics over
the property in 2002 and the indications from this work are that the
vein is striking north-south, and there is a coincident geophysical IP
anomaly. This discovery, however, is close to the northern limits of
the grid. Sample results for the trench are given below:
Sample Easting Northing From To m Width Au g/t Ag g/t m m 60428 217445.6 1627000.4 0.00 1.00 1.00 0.79 55.9 60429 217444.8 1627001.0 1.00 2.05 1.05 32.79 1,428.9 60431 217444.0 1627001.8 2.05 3.10 1.05 39.40 1,222.9 60432 217442.9 1627002.7 3.10 5.10 2.00 110.28 3,520.6
A sample of brecciated and silicified schist taken in a pit dug two
meters from the vein returned 2.79 g/t Au and 49 g/t Ag over a 1 meter
sample (# 60433). Management is extremely encouraged by these results
as it appears we have located the source of the high grade float
boulders. Planning is now underway to expand the soil grid to the
north and to complete a new geophysical survey. Further trenching is
The Holly and Banderas projects (HB) were discovered by Radius during a
regional stream sediment sampling program in Eastern Guatemala
conducted in 2001/2. The projects are close together and are now being
considered as a single exploration project, the HB project.
Sampling Methodology, Quality Control, and Assurance
Samples are sent to the Inspectorate Guatemala sample preparation
facility in Guatemala City for sample preparation, and pulps forwarded
to the Inspectorate American Corporation laboratory facility in Sparks,
Nevada, for analysis. Approximately 12% of the samples submitted
consist of commercial standards, blanks, and duplicate samples. Gold
amounts for each sample are determined by fire assay, digested in aqua
regia solution and analyzed by atomic absorption finish. Samples with
over 1 g/t Au are re-analysed by gravimetric finish. Ag is analysed by
aqua regia digestion followed by atomic absorption finish with
overlimits analysed by fire assay with gravimetric finish. A 30 element
suite is analysed by ICP.
Drilling Sampling Protocol, Chain of Custody, and Data Verification
All sampling is conducted under the supervision of the Company’s on-site
project geologist and the chain of custody from the drill to the
logging facility is continually monitored. Samples are transported to
the Inspectorate facility in Guatemala City directly by Company
personnel. Data verification of the analytical results includes
analysis of the duplicates, standards and blanks to ensure that they
pass industry best practice guidelines for acceptability. All assays
are reported as drilled intervals.
Roger Hulstein, BSc, P.Geo., 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. Hulstein is responsible for the accuracy of the technical
information in this news release.
Radius has been exploring for gold in Latin America for nearly a decade,
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 Guatemala and Nicaragua. Radius also has a
number of 100% owned exploration plays, including the HB property in
Guatemala and several properties in the Rackla Belt and Sixty Mile
placer gold district in the Yukon.
ON BEHALF OF THE BOARD
Simon Ridgway, President & CEO
Investor relations: Ralph Rushton / Erin Ostrom
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 79.9-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
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Radius Gold Inc.