Radius Gold Expands Tierra Roja Copper Project in Peru
Vancouver, Canada -- February 28, 2025 -- NewsGenie -- Radius Gold Inc. has announced a significant expansion of its Tierra Roja copper project in southern Peru. The company has signed an exclusivity agreement and right to option an additional 1,800 hectares adjoining the project, increasing the total project area to 3,670 hectares. Additionally, Radius has secured the exclusive right to option 4,500 hectares of exploration licenses across three additional targets in the district.
Figure 1: Option on an additional 1800 ha adjoining the Tierra Roja Project:
Figure 2: Radius Gold has exclusive right to an additional 4,500 ha in district (Gerár – 1000 ha, Shamgar – 1600 ha, Sidón – 1900 ha, in southwest Peru):
The option agreement grants Radius a 6-month exclusivity period to evaluate and potentially option nine exploration concessions totaling approximately 6,300 hectares. A payment of US$2,500 has been made upon signing the exclusivity agreement. The terms of the option agreement include payments totaling US$165,000 over 36 months to acquire 100% ownership of each property, additional payments upon resource estimation, pre-feasibility study, and mine construction, and a 5% NSR royalty retained by the property owner, which Radius can purchase.
Radius is actively advancing exploration at Tierra Roja, with detailed geological mapping, geochemical sampling, and ground-based magnetic surveys completed. Drill permitting is underway, and IP/Resistivity surveys are scheduled to commence shortly, with plans for a drill program to test high-priority targets.
Bruce Smith, M.Sc. (Geology), Radius\u2019 Qualified Person, has approved the technical information in this release.
Radius Gold Inc. continues to advance its portfolio of projects in Mexico, Guatemala, and Peru, seeking additional investment and project acquisition opportunities globally. Radius is a member of the Gold Group of companies, led by Simon Ridgway.