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Phase Three Drill Results
The drill program included holes AMDD19-016 to AMDD19-021. Holes 016 and 017 were previously reported in Radius's
AMDD19-016intersected 120 m grading 1.53 g/t Au and 21 g/t Ag with an estimated true width of 78 m, including 23 m (estimatedtrue width 15 m) at 4.61 g/t Au and 41 g/t Ag. Mineralization is hosted within the hanging wall of the
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Figure 1. Section AMDD19-009 - 010 - 015 - 016.
AMDD19-017was drilled 100 m north of 016, on section with AMDD19-013 and 150 m down dip. The hole cut a 30 m wide silicified fault breccia with anomalous gold and silver values up to 2.26 g/t Au and 23 g/t Ag but no economically viable ore was encountered.
AMDD19-018was drilled 100 m south of 016 on the same drill pad as 011. 018 was drilled on section with previous drillholes 001, 003, and 011 and targeted the structure 60 m down dip of 011. The hole intersected 1.3 m grading 12.5 g/t Au and 2320 g/t Ag and 13.7 m grading 1.4 g/t Au. Mineralization in sulphide rich veinlets hosted within rhyolite volcanics in the hanging wall extends to a depth of 325 m below surface and is open with depth.
AMDD19-019was drilled 200 m south of 016, on section with 008 and 012 and 100 m down dip of 012. The hole did not intersect the same silver-mineralized structure down dip from 008 (4 m at 158 g/t Ag and 0.8 g/t Au) and 012 (5 m at 647 g/t Ag); however, it encountered a 7.4 m at 22 g/t Ag and 0.5 g/t Au interval in a quartz vein breccia near the contact between the upper rhyolites and lower andesites.
AMDD19-020 and 021were drilled 400 and 300 m south of 016 respectively, on new sections with no previous drill holes. Both drillholes encountered anomalous Au and Ag values at the San Pedro Fault ~350 m below the surface but no quartz veining or significant mineralization was encountered.
Note. Reported drill hole intervals are drilled widths. Full drill data, locations, sections and estimated true widths are published onhttp://www.radiusgold.com/s/amalia.asp.
Acquisition of the Palmillas Property
Radius is pleased to announce that it has signed a binding agreement with a private family to option the 800-hectare Palmillas Property which hosts high-grade epithermal gold-silver mineralization. The
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Figure 2. Recently acquired concessions and Radius's position along the Amalia fault zone.
Palmillas Property
Adjoining the core Amalia concessions and entirely surrounded by the Amalia 4 property, the
The priority target within the Palmillas Property is the
The Palmillas Agreement
Radius can earn a 100% interest in the Palmillas Property by completing staged payments over a period of five years totalling
The Pan American Agreement
Radius granted to Pan American Silver Corp. in
Acquisition of the Plata Verde Property
QualityAssurance andQualityControl
DrillingiscarriedoutusingNQ and HQ sizetooling. Drillcoreiscutinhalfusinga rocksawwithonehalfof thecorethentakenas asampleforanalysis.Sampleintervalsaregenerally1 mintervals,producingsamplesofbetween2 to 9 kg. Half-coresamplesaredeliveredto the ALSGeochemistrylaboratoryfacilitiesin
Technical Information
Bruce Smith,
Radius has a portfolio of projects located primarily in
ON BEHALF OF THE BOARD
President and CEO
Symbol: TSXV-RDU
Contact:
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: info@goldgroup.com
Website: www.radiusgold.com
Neither the
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements which include, without limitation, statements about the possible acquisition by Pan American of an interest in the Amalia and Palmillas Projects; the exploration plans for the Amalia and Palmillas Projects; the Company's business strategy, plans and outlook; the merit of the Company's investments and properties; timelines; the future financial performance of the Company; expenditures; approvals and other matters. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, the possible acquisition by Pan American of an interest in the Amalia and Palmillas Projects; the plans for exploring the Amalia and Palmillas Projects; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration anddevelopment goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that Pan American will acquire an interest in the Amalia and Palmillas Projects; that the exploration activities at the Amalia and Palmillas Projects will proceed as planned; that the Company's activities will be in accordance with its public statements and stated goals; that all required approvals will be obtained; that there will be no material adverse change affecting the Company or its investments or properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
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