Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius” or the “Company”) is pleased to report results received from the Holly project in Guatemala, operated by joint venture partner, Volcanic Gold Mines Inc.
Hole HDD-21-027 intersected 4.57 meters (or approx. 4.1m true width) returning over 54 g/t gold and over 3.9 Kg/t silver. This hole cut the vein at the same depth in the system as hole HDD-21-23 that intercepted 4.58m of 79.84 g/t gold and 5,053 g/t silver 150m to the south (see release 19 October 2021). Drilling is ongoing again at Holly, focused on extending this high-grade system at depth and along strike to the south with a goal of establishing a meaningful high-grade resource and improving confidence in the trend of the vein structure. Several other veins in the area with similar orientation will be tested during this present program.
Radius and Volcanic are very pleased the La Pena vein system continues to produce these exceptional grades. As the sections below indicate, we are defining ounces quickly with high grade intercepts.
Hole HDD-21-028 failed to intersect the La Pena structure but management believes it was not drilled to sufficient depth. The hole will be re-entered within the present program to test this theory. Results are still pending for hole HDD-21-026 as the shipment of core and rock samples that contained this hole was caught up in delays discussed in previous news releases. Management is optimistic future turn around on drill core will be within 45 days. A preparation lab is being set up in the region for surface rock and soil samples.
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 27 years of mineral exploration experience and has prepared and approved the technical information contained in this news release.
Quality Assurance and Quality Control
Diamond drilling at Holly project followed industry standard procedures for core drilling and analysis. Drilling is carried out using NQ and HQ 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 1m intervals, producing samples of between 2 to 9 kg. Half-core samples are delivered to the internationally certified Bureau Veritas Mineral laboratory facilities in Nicaragua where the samples are prepared. Assays are completed by Bureau Veritas certified laboratories. The samples are fire assayed for Au and are analyzed for Ag and multi-elements using method code ICP following a four-acid digestion. Overlimits are analyzed 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 were returned within acceptable limits.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico, United States and Guatemala which it continues to advance, utilizing partnerships where appropriate in order to retain the Company’s strong 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.
ON BEHALF OF THE BOARD
President and CEO
Contact: Bruce Smith
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
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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, the results of exploration work and future plans at the Company’s 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, whether the planned exploration work at the Company’s properties 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.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 the exploration work at the Company’s properties will advance as planned; 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.