Radius Gold reports additional high grade sampling from Amalia Project, Mexico
TSX VENTURE: RDU
VANCOUVER, British Columbia, Dec. 18, 2017 (GLOBE NEWSWIRE) -- Radius Gold Inc. (TSX-V:RDU) is pleased to provide an update on exploration in Mexico and reports new high grade channel sampling results from the Amalia Project located in the State of Chihuahua, Mexico. Radius exploration teams have been systematically advancing Amalia to drill ready stage, including the submission of applications for drilling to the regional authorities. Additionally, teams have been prospecting the Tarros property and new regional targets in Mexico. In total Radius geologists have collected an additional 315 rock and 195 soil samples in the last three months.
The Amalia Project is located 25 km SW of the historic Guadalupe y Calvo mining district in Chihuahua and hosts high grade epithermal silver-gold mineralization. The Project is previously unexplored, with only minor historic artisanal-scale mining of surface outcrop known. Epithermal Au-Ag mineralization has been sampled by Radius in several veins, vein breccias and disseminated zones over 3.5km of strike length and a 600m vertical interval following the trace of a large regional fault zone (see press release dated September 19, 2017).
During the past several months, Radius geologists have focused exploration efforts on defining drill targets within the central area covering the Campamento and Guadalupe targets at Amalia over strike length of approximately 1km and vertical interval of 250m. A new discovery located between Campamento and Guadalupe, called San Pedro, returned 13m at 2.51 g/t Au and 164 g/t Ag in a continuous chip (10 samples) across the discovery outcrop. New sampling 50 m vertically above and along strike from Guadalupe returned 8m at 0.21 g/t Au and 264 g/t Ag (8 samples).
Amalia Exploration Summary
Radius has now defined a central corridor of mineralization, along the NW trending major structural break. In the north at Campamento, a 500m x 70m zone of intense silicification, and brecciation with massive and stockwork veining has been mapped at the contact between the upper rhyolite and lower andesite volcanic sequence. The previously announced main mineralized interval at Campamento graded 62m at 0.43 g/t Au and 98 g/t Ag, including 30m at 0.58 g/t Au and 151 g/t Ag. The mineralization is hosted in high level white chalcedonic banded veins and breccias. Southeast along the fault system and vertically down in the system the mineralization transitions from Campamento style rhyolite hosted chalcedonic silica veins, to andesite hosted sulphide rich fault breccias observed at San Pedro and Guadalupe, where the mineralization is narrower and higher grade as shown at San Pedro 300m south and 175m lower with 13m at 2.51 g/t Au and 164 g/t Ag. A further 100m southeast and 100m lower, Guadalupe sampling includes the previously published results:
|Guadalupe shaft:||7m at 3.62 g/t Au and 1048 g/t Ag|
|including: 4m at 6.04 g/t Au and 1702 g/t Ag|
|Guadalupe tunnel cross-cut||7m at 2.4 g/t Au and 188 g/t Ag|
|Guadalupe tunnel 10m above cross-cut:||4m at 3.92 g/t Au and 888 g/t Ag|
Geologically similar gold-silver epithermal deposits of the Sierra Madre belt have mineralization defined over a vertical interval of 600 to 700m, and the transition from upper rhyolite hosted mineralization into higher grade andesite host at depth is commonly observed. Radius geologists believe that the system is preserved at Amalia and along the controlling regional fault system mineralization occurs over a 600m vertical interval. Radius plans to target high grade mineralization at depth below the Campamento silica zone and at the Guadalupe and San Pedro targets. Drill permitting documentation has been submitted to the regional authorities and exploration is on-going at other targets along the Amalia fault system. New maps and photos of the Amalia Project will be available on the Company’s website.
Radius also announces that Bruce Smith has stepped down as a director of the Company, in order that he may direct his efforts towards his newly appointed position as director and President of Rackla Metals Inc. We thank Bruce for his contributions to the Radius Board.
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’s Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith participated in the reported programs and prepared and approved the technical information contained in this news release.
Sampling followed a standardized protocol to ensure representative and unbiased quantities of material from across each sample. Chip samples were taken using hammer and chisel continuously along the walls of the underground mines and cleaned surface outcrops. Nominally widths were between 1 and 2 meters. Continuous chip samples were taken across strike and are the best estimate of true width.
The Company utilizes industry-standard QA/QC program. Rock samples were prepared and analyzed at ALS laboratories in Mexico and Canada. Blanks and certified reference standards are inserted into the sample stream to monitor laboratory performance and the results have been within acceptable limits.
Radius has been exploring for gold in the Americas 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.