Radius Gold Inc. announced that diamond drilling has commenced at the Plata Verde silver project in Chihuahua, Mexico. Radius, in partnership with Minera San Julian, S.A. de C.V. ("Minera San Julian"), a wholly owned subsidiary of Fresnillo plc ("Fresnillo") plan to complete a minimum of 2,000m of diamond core drilling targeting bulk minable, underground silver resources at the historic Plata Verde mines. The drill program is fully funded by Minera San Julian as part of the option agreement signed between the companies to jointly explore Plata Verde.

Following the completion of the first-pass diamond drilling, additional drilling will be based on results, to be confirmed by the Radius and Fresnillo joint technical committee. Silver mineralization occurs as massive to crustiform banded barite calcite and quartz with silver chlorides, sulphosalt minerals and native silver infilling and cementing fractures and breccia within a basaltic/andesite extrusive volcanic. The basaltic/andesite host occurs at the base of the Upper Rhyolitic Volcanics of the Northern Sierra Madre.

A historic extensive network of anastomosing mining tunnels and cavities was completed by hand with hammer, chisel and black powder explosives, leaving behind large underground cavities up to 50m x 50m x 30m high. Throughout the mines roman numerals painted on the walls record up to 58 mining areas. The mining excavations define a strike extension of over 500m and up to 300m wide.

The host volcanic unit is at least 60m thick. Silver mineralization is observed within mantos with multiple large scale breccia zones, fracture fill, stockwork and disseminated style mineralization within the volcanic host. Drilling will target extensions of the manto systems and also feeder systems below the mantos.