Vancouver, BC – Radius Gold Inc. (TSX-V: RDU) ("Radius" or the "Company") is pleased to launch an online tour of its Tierra Roja copper project, and to announce significant progress in drill permitting and a new porphyry copper discovery in the vicinity that underscores the potential of the region.
A short tour of the Tierra Roja project is available online at: Tierra Roja project tour
Drill Permitting
Radius is pleased to announce that the Company has acquired a water supply agreement to source sufficient water to operate 5 drill rigs for the next 5 years. This supply agreement has been signed off by a local magistrate and allows water trucks to supply drilling operations. This is a significant step towards drill permitting. Further, the Company has obtained federal notification acknowledging that the project area has no registered or resident community and is state owned, enabling the Company to proceed with drilling and potentially mining operations without requiring community consultation.
Nearby Discovery Highlights Potential at Tierra Roja
A recent porphyry copper discovery by a third party located 25 km west of Radius’s Tierra Roja project has gained attention. AusQuest Limited (ASX: AQD) recently announced that its maiden drilling program at Cangallo Project identified a new, large-scale porphyry copper discovery, demonstrating the geological fertility of the region and extension north of the southern Peru porphyry copper belt. This discovery is situated within the same geological setting as Tierra Roja and strengthens the case for exploration and discovery at Tierra Roja.
Bruce Smith, CEO and Director of Radius Gold, commented:
“The Southern Peru porphyry copper belt is one of the most productive copper districts on the planet. There are 6 giant copper mines and several development projects which occur in a relatively small area of 200 x 100km along the coastal regions of Arequipa and Moquegua. This new discovery shows the potential extension of this prolific terrain to the north encompassing the Tierra Roja project. At Tierra Roja, we’ve already identified high grade copper mineralization at surface across an 800m x 800m target area.
Radius is targeting surface oxide copper which has the potential for significant economic advantages: open pit, low strip, heap leach with low processing cost, no resident communities. We have made significant progress on drill permitting and expect to have drill permits in hand in the coming months.”
Figure 1. Southern Peru porphyry copper belt.
Technical Information
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 has reviewed and approved the technical information contained in this news release.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico, Guatemala and Peru utilizing partnerships where appropriate to retain the Company’s treasury. 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
Simon Ridgway
Executive Chairman
Symbol: TSXV-RDU
Contact: Bruce Smith
1111 Melville Street, Suite 1000
Vancouver, BC V6E 3V6
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 Company’s plans for its properties. 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 Company’s exploration plans will proceed as expected; 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 orintended.
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.