Radius Gold Increases Bald Peak Property Land Position; Commences Exploration Work
TSX VENTURE: RDU
www.radiusgold.com
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 19, 2017) - Radius Gold Inc. (TSX VENTURE:RDU) is pleased to announce the Company has increased its land position at the Bald Peak property, Nevada. The Bald Peak gold property was acquired in March 2017 from Ely Gold & Minerals Inc. (TSX VENTURE:ELY) and its wholly owned subsidiary, Nevada Select Royalty Inc., adding to Radius's portfolio of epithermal gold prospects in the Aurora gold camp, Nevada.
Radius has staked an additional 59 unpatented mining claims at the Property expanding the strike length of the target area and filling in any gaps along the prospective geology. These claims are contiguous with the claims acquired from Ely Gold (see Radius news release March 6, 2017). The Bald Peak Property now consists of 87 unpatented mining claims in Mineral County, Nevada, 10 unpatented mining claims in Mono County, California and one mineral prospecting license in Mono County, California. The Property overlies a 6 km long, NE-trending, gold-bearing epithermal system that, according to research completed by Radius, has seen minimal exploration work previously.
Bald Peak Mountain is a rhyolite dome complex located 7 km WNW of the historic Aurora Gold mine that was recently acquired by Klondex Mines Inc. The high level epithermal gold bearing veins/stockworks and sinters known to date on the Property occur in a rhyolitic sedimentary unit which is intermittently exposed along a NE-trending depression, potentially a graben structure.
The limited exploration work conducted on the Property consisted of rock chip samples along the trend. Historical exploration documentation shows that within the Property boundaries, 201 rock chip samples from exposed outcrops returned assay values ranging from trace to 7 g/t Au, with 40 samples returning assay values above 1 g/t Au. Rock chip samples also contain highly anomalous levels of Hg, Sb, and As, elements typical of shallowly-exposed epithermal systems. The historical geochemical data suggest that these outcrops may represent the upper portions of a productive hydrothermal system.
Radius has initiated its summer exploration program consisting of mapping, rock and soil sampling and prospecting with the intension of establishing the extent of current mineralized zones with an aim to developing drill targets to test these systems at depth.
The historical results given here are from previous explorers' exploration summary documents, and have not been independently verified by a Qualified Person. The exploration work summarized appears to have been done to an appropriate technical standard, however, and Radius's Qualified Person believes them to be reliable. Radius will be selectively resampling surface outcrop as part of its due diligence exploration work.
Qualified Person
David Clark, M.Sc., P.Geo., is Radius's Qualified Person under the terms of National Instrument 43-101, "Standards of Disclosure for Mineral Projects" and has approved the technical information in this news release.
About Radius
Radius has been exploring for gold in Latin America for over a decade. The Company has a strong treasury and is looking for investment and project acquisition opportunities across the globe. Please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com) for more information.
