Vancouver, British Columbia – TheNewswire – November 20, 2023 - Radius Gold Inc. (TSXV:RDU) (“Radius” or the “Company”) provides final results for drilling at its Tropico Project located in the Fresnillo mining district in Zacatecas, Mexico. The Company completed a 1300m program of diamond drilling in 8 drillholes, with all pending assays received.

Drilling defined a large gold mineralized breccia body that starts at surface and to date defined 250m down dip. Gold grades were starting to increase with depth from holes 1, 2, 3, 4, & 6, (see press release Nov. 7, 2023) but unfortunately the latest gold assay results from the deepest hole 8 are weak.  (See Figure 1 and corresponding Table 1 below.)  The drilling encountered wide zones of classic low sulphidation epithermal alteration, high level chalcedonic silica, banded stockwork and massive quartz veining, and breccias with gold mineralization, but not significant high grade mineralization.

Given the unexpected flat dip of the target breccia to the east and the significantly lower gold assays in hole 8, pursuing the breccia body down dip is not justified at this time. Radius geological team interprets the breccia body to be part of a larger diatreme and/or explosive volcanic breccia system. Targeting the source of the epithermal gold mineralization will require further evaluation and likely an agreement with Geological Survey of Mexico (GSM), which controls ground surrounding the Tropico property. Radius has had formal and positive discussions with the GSM, but any agreement would take considerable time.

Exploration Focus

Radius has multiple compelling exploration projects and in the coming months the focus of exploration activity will be on Plata Verde (Chihuahua Mexico) and Motagua Norte (Guatemala). Radius will continue to work with our partners Pan American Silver Corp, to restart drilling at Amalia (Chihuahua, Mexico) and progressing the exploitation (mining) permit with Volcanic Gold at Holly (Guatemala). Further Radius is constantly evaluating new projects to add to the portfolio of exploration targets.

  

Figure 1: Tropico cross-section with drill results

Click Image To View Full Size

 

Table 1: Tropico Drill Results - Key Intercepts

Key Intercepts
DRILLHOLE	FROM (m)	TO (m)	INTERVAL (m)	GOLD (g/t)	SILVER (g/t)
TDD001	24.20	54.90	29.18*	0.34	3.9
TDD002	55.50	85.60	30.10	0.35	2.7
TDD003	0.00	44.20	44.20	0.28	2.1
TDD004	54.00	82.52	28.52	0.28	2.6
TDD006	51.00	87.25	36.25	0.55	9.1
Incl.	66.00	73.52	7.52	1.40	29.3
And	96.40	108.70	12.30	0.44	2.7
TDD008	69.00	78.02	9.02	0.11	2.6
And	90.22	91.75	1.53	0.33	2.6
And	135.97	140.55	4.58	0.22	1.0
And	186.30	206.12	19.82	0.15	1.9
*Width of samples submitted, 1.52m of no recovery (gap)

  

Quality Assurance and Quality Control

Drilling is carried out using PQ and NQ size tooling.  Drill core is cut in half using a rock saw with one-half of the core then taken as a sample for analysis.  Sample intervals are generally 1.5m, producing samples of between 2 to 9 kg.  Half-core samples are delivered to the ALS Geochemistry laboratory facilities in Mexico.  The samples are fire assayed for Au and are analysed for Ag and multi-elements using method code ME-ICP61 following a four-acid digestion.  Overlimits are analysed using an appropriate method.  Multi-element geochemical standards and blanks are routinely entered into the drill core sample stream to monitor laboratory performance.  Quality control samples submitted to ALS were returned within acceptable limits.

Technical Information

Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’ Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith has 30 years of mineral exploration experience and has prepared and approved the technical information contained in this news release.

Radius Gold Inc.

Radius has a portfolio of projects located in Mexico and Guatemala which it continues to advance, utilizing partnerships where appropriate to retain the Company’s treasury.  At the same time, management is seeking out additional investment and project acquisition opportunities across the globe.  Radius is a member of the Gold Group of companies, led by Simon Ridgway. You may find more information on Radius Gold at www.radiusgold.com or www.sedarplus.ca.

ON BEHALF OF THE BOARD

 

Bruce Smith

President and CEO

 

Symbol: TSXV-RDU

 

Contact:  Bruce Smith

200 Burrard Street, Suite 650

Vancouver, BC  V6C 3L6

 

Tel: 604-801-5432;  Toll free 1-888-627-9378;  Fax: 604-662-8829

Email: info@goldgroup.com

Website: www.radiusgold.com

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

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 and include, without limitation, statements about the results of exploration work and future plans at the Company’s projects. 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, whether the planned exploration work at the Company’s projects will proceed as intended; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development 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.sedarplus.ca.  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 the Company’s stated goals and the planned exploration and development activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its 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.