Amalia Project

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• Table of Intercepts
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• Amalia Project

  The Amalia Project is located 25 km SW of the historic Guadalupe y Calvo mining district in Chihuahua (Figure 1). Radius geologists discovered high grade epithermal silver-gold mineralization in several veins, vein breccias, and disseminated zones over 8 km of strike length and a 1 km vertical interval following the trace of a large regional fault zone. Radius initially acquired the 380 hectare core license and subsequently staked an additional regional license covering multiple target areas (Figure 2) that totals approximately 10,000 hectares that composes the Amalia project. In July 2018 Radius entered into an agreement with Pan American Silver Corp. to drill and explore the project.

  The Amalia project includes the Amalia, California and El Cuervo major vein systems. Within these major vein systems are multiple targets, outlined in Figure 3, all of which are included in Radius's consolidated concessions that extend for more than 10 km of strike length of the regional fault.

  To date, there has been over 23,000m of drilling across the greater Amalia Projects’ three major vein structures: Amalia, California and El Cuervo with impressive wide-width and high-grade gold and silver intercepted at each of the three main targets drilled to date. Examples of top drill holes from each zone may be viewed in the table below:

  Amalia Project Targets – High Grade Intercepts

  Amalia: 3.9km vein & breccia	Hole AMDD19-010: 44m @ 309 g/t Ag & 12.39 g/t Au
  California: 3.5km vein & breccia	Hole AMDD21-39: 26.9m @ 353 g/t Ag & 2.59 g/t Au
  El Cuervo: 2.7km vein & breccia	Hole AMDD22-66: 13.5m @ 841 g/t Ag & 10.25 g/t

  The Agreement

  Pursuant to an option agreement signed in June 2018, Pan American Silver Corp. has completed its right to earn an initial 65% interest in the Amalia Project.

  

  Mining Property

  The approximately 10,000 hectare property (Figure 2) includes the Amalia, California and El Cuervo major vein systems. Within these major vein systems are multiple targets, outlined in (Figure 3) all of which are included in Radius's consolidated concessions that extend for more than 10 km of strike length of the regional fault.

  The Amalia Project is comprised of 1,681 hectares of granted exploration licences and 8,613 hectares of licence applications. The licence applications have been processed by the state authority in Chihuahua and approved for title.

  In May 2023, The Mining Reform, a new federal mining law became effective and makes major changes to Mexico’s Mining Law including proposing to cancel existing exploration licence applications. As have almost all active exploration and mining companies in Mexico, the Company has filed legal challenges to the application of the reforms on all its properties and projects.

  Additional information may be viewed at the link The Mining Reform or viewed in Radius Gold’s Interim Management’s Discussion and Analysis – Quarterly Highlights for the Nine Months Ended September 30, 2023 on the Company’s website at www.radiusgold.com and sedarplus.ca

  Structures:

  • Amalia Vein System: 3.9 km length with a drill defined 250m long San Pedro high-grade zone. Maximum mineralized true width 74m (Figure 4, 5, 6)
  • California Vein System: 3.5 km length with a drill defined 1000m long mineralized zone. Maximum mineralized true width 30m (Figure 7 – California Target) 
  • El Cuervo Vein System: 2.7 km length with a drill defined 440m long mineralized zone. Maximum mineralized true width 83m (Figure 8, 21, 22, 23).

  Amalia Project – Cross Section:

  Amalia Project schematic cross section depicting relative heights of the targets

  Geology and Mineralization:

  The main targets at Amalia are located along a large regional scale NW trending fault system, which separates the upper rhyolite volcanics from the lower andesite volcanics. Radius has identified outcropping mineralization over 8 km along this structural break. The targets comprise multiple zones of intense epithermal multiphase silicification, and brecciation with stockwork veining occurring at the contact between the upper rhyolite and lower andesite volcanic sequence. Figure 9 showcases multiphase silicification events in drill core from San Pedro. See Figures 10 and Figure 11 for 1m core samples with electrum mineralization within the quartz sulphide stockwork zone.

  Summary of Drilling

  Funded by Pan American, a total of 67 drill holes (23,058 m) has been completed at the Amalia Project, across the Amalia, California and El Cuervo projects, and assay results may be viewed at the Table of Intercepts tab on the menu bar. Drilling at these three targets included:

  • Amalia vein system: 31 drillholes (10,588 m)
  • California vein system: 14 drillholes (3,814 m)
  • El Cuervo vein system: 22 drill holes (8,656m)

  Exploration Targets

  Within the 10, 250 hectare Amalia Property are multiple prospects which have been prospected and are developing as future drilling targets.

  Palmillas target is a small historic working, located 1.5km along the Amalia Fault from the San Pedro zone. At Palmillas, Radius took a 4 m section that assayed 9.5 g/t Au and 73 g/t Ag, and a 10.5 m section that assayed 1.54 g/t Au and 58 g/t Ag. Mineralization is hosted within fault-controlled quartz vein breccias similar in style to San Pedro (Figure 14). (See News Release: Radius Gold Reports Results from the Third Phase of Drilling at Amalia High-Grade Gold-Silver Discovery, and Acquires the Adjoining 800 ha Palmillas Property, January 14, 2020.)

  There are untested vein breccia targets along the California vein system, including the Oro Viejo, La Caverna, California SE, El Durazno, El Pando, with gold grades from below detection to 27 g/t.

  Quality Assurance and Quality Control

  Pan American Silver has been the operator on Amalia since Q3 of 2019; all their surface samples and drill core have been analyzed at an ISO/IEC accredited ALS Geochemistry laboratory.

  Previous rock samples are acquired by Radius Gold's geologists and trained sampling teams under the supervision of the geologists. Majority of the rock samples consist of chip channels ranging from 0.5m to 3m. These samples are forwarded to an ALS Geochemistry laboratory for analysis of Au, Ag and other elements using ALS codes Au-ICP21 and ME-ICP61. Au-ICP21 is a fire assay method with an ICP-AES finish for Au. ME-ICP61 is a 34 multi-element (includes Ag) analysis that uses a four acid-digestion with an ICP-AES finish. For over-limits of Au or Ag, analysis using a fire assay method with gravimetric finish is automatically conducted. Quality control samples (blanks, standards etc.) are included with the field samples at regular intervals. The QA samples' results are monitored to ensure the returned results are within the acceptable range.

• • Amalia Vein System

    A total of 31 drill holes were drilled at the Amalia target. High grade epithermal gold and silver mineralization is defined in a mineralized shoot, approximately 500m long, 400m deep and up to maximum true width of 74m. See table below.

    Table of Intercepts – Amalia Vein System

    DRILLHOLE	FROM (m)	TO (m)	INTERVAL (m)	EST. TRUE WIDTH	Ag (g/t)	Au (g/t)
    AMDD18-001	44.35	56.35	12.00	9.5	44	0.10
    AMDD18-002	no significant mineralized intercepts
    AMDD18-003	107.44	137.44	30.00	24	65	0.30
    AMDD18-004	no significant mineralized intercepts
    AMDD18-005	no significant mineralized intercepts
    AMDD18-006	no significant mineralized intercepts
    AMDD18-007	129.10	133.10	4.00	3	229	0.29
    AMDD18-008	98.65	99.65	1.00	0.8	521	2.28
    And	126.65	131.65	5.00	4	571	1.14
    AMDD18-009	140.35	174.35	34.00	29.44	406	6.13
    Including	144.35	170.35	26.00	22	517	7.80
    Including	165.35	170.35	5.00	4	1378	14.71
    AMDD19-010	210.70	254.70	44.00	34	309	12.39
    AMDD19-011	170.50	176.50	6.00	4	24	1.05
    Including	173.50	175.00	1.50	1.06	31	2.52
    AMDD19-012	176.90	181.90	5.00	4	647	0.09
    AMDD19-013	no significant mineralized intercepts
    AMDD19-014	235.70	263.70	28.00	24	126	2.30
    Including	256.70	259.70	3.00	2.6	761	9.85
    AMDD19-015	213.70	317.70	104.00	74.8	55	3.10
    Including	216.70	297.70	81.00	65	61	3.75
    Including	234.70	255.70	21.00	17	65	7.91
    AMDD19-016	251.20	371.20	120.00	78	21	1.53
    Including	252.45	318.25	65.80	43	23	2.36
    Including	293.20	316.40	23.20	15	41	4.61
    AMDD19-017	316.55	322.10	5.55	4.19	-	0.88
    AMDD19-018	268.15	269.45	1.30	0.75	2320	12.50
    And	332.45	346.10	13.65	7.83	22	1.39
    AMDD19-019	336.70	344.10	7.40	6.34	22	0.49
    AMDD20-020	no significant mineralized intercepts
    AMDD20-021	no significant mineralized intercepts
    AMDD20-022	313.05	336.15	23.10	14.50	321	6.80
    Including	319.40	325.65	6.25	4.18	813	18.34
    AMDD21-023	520.85	530.40	9.55	6.50	151	0.59
    AMDD21-024	no significant mineralized intercepts
    AMDD21-025	150.85	151.70	0.85	0.60	475	1.48
    And	170.85	178.45	7.60	5.00	70	1.73
    And	239.75	249.40	9.65	7.28	57	0.36
    And	274.25	277.85	3.60	2.72	55	0.32
    And	285.85	293.90	8.05	5.50	99	0.93
    AMDD21-026	165.50	166.65	1.15	0.80	151	3.32
    And	239.75	243.40	3.65	2.37	70	1.81
    And	283.40	284.45	1.05	0.70	53	4.59
    And	320.70	323.70	3.00	2.00	8	3.17
    And	347.00	347.95	0.95	0.62	65	0.57
    And	352.90	353.40	0.50	0.33	115	0.25
    AMDD21-027	no significant mineralized intercepts
    AMDD21-028	no significant mineralized intercepts
    AMDD21-029	no significant mineralized intercepts
    AMDD21-030	no significant mineralized intercepts
    AMDD21-031	133.75	147.00	13.25	13.25	117	0.90

  • California Vein System

    Drilling at the California vein system defined a wide zone of Au-Ag mineralization across 1 km of strike length. The initial shallow drilling intersected multiphase breccias and stockwork veins with significant widths up to 30m and high grades with individual samples up to 4210 g/t Ag and 33.1 g/t Au. California occurs at the top of the mineralized system, located vertically 800m above El Cuervo and is 400m above Amalia. Also, see Figure 12 for a drill core photo of Ag-Au mineralization from the California vein.

    Table of Intercepts – California Vein System

    DRILLHOLE	FROM (m)	TO (m)	INTERVAL (m)	EST. TRUE WIDTH	Ag (g/t)	Au (g/t)
    AMDD21-032	38.10	44.30	6.20	5.62	93	0.43
    And	62.70	90.00	27.30	24.74	90	0.26
    Including	78.00	80.35	2.35	2.13	220	0.61
    Including	86.00	88.60	2.60	2.36	263	1.37
    AMDD21-033	148.60	199.00	50.40	23.66	50	0.05
    Including	178.80	194.25	15.45	7.25	68	0.07
    Including	188.20	192.40	4.20	1.97	113	0.12
    AMDD21-034	145.70	149.65	3.95	3.58	487	2.15
    Including	146.80	149.65	2.85	2.58	658	2.96
    Including	148.00	148.50	0.50	0.45	2810	15.15
    AMDD21-035	212.65	229.80	17.15	10.32	35	0.07
    And	243.10	243.50	0.40	0.24	482	3.36
    AMDD21-036	108.60	110.35	1.75	1.59	578	0.27
    Including	109.90	110.35	0.45	0.41	1930	0.71
    AMDD21-037	177.95	180.40	2.45	1.30	37	0.18
    Including	177.95	178.55	0.60	0.32	54	0.53
    AMDD21-038	151.00	162.20	11.20	9.06	379	1.26
    Including	156.20	157.00	0.80	0.65	4244	16.96
    Including	156.20	156.55	0.35	0.28	4210	33.10
    AMDD21-039	308.20	335.10	26.90	20.30	353	2.59
    Including	308.20	331.90	23.70	17.89	394	2.93
    Including	314.45	321.95	7.50	5.66	976	7.38
    Including	317.85	321.95	4.10	3.09	1520	12.61
    AMDD21-040	385.35	396.50	11.15	6.55	99	0.64
    Including	385.35	393.55	8.20	4.82	120	0.78
    Including	388.45	391.10	2.65	1.56	210	1.12
    Including	389.60	391.10	1.50	0.88	249	1.28
    AMDD21-041	144.00	145.25	1.25	1.13	36	0.03
    AMDD21-042	216.95	218.50	1.55	0.89	24	0.003
    AMDD21-043	102.25	115.00	12.75	9.48	259	0.54
    Including	108.05	114.05	6.00	4.46	483	1.06
    Including	108.05	111.25	3.20	2.38	705	1.92
    AMDD21-044	273.00	312.65	39.65	29.47	204	0.35
    Including	283.00	312.65	29.65	22.03	256	0.44
    Including	287.50	306.55	19.05	14.16	346	0.63
    Including	301.00	306.55	5.55	4.12	770	1.69
    Including	304.00	305.65	1.65	1.23	1446	5.11
    Including	305.00	305.65	0.65	0.48	2470	11.90
    AMDD21-045	333.75	421.00	87.25	50.04	60	0.05
    Including	339.50	350.45	10.95	6.28	104	0.09
    Including	359.50	362.60	3.10	1.78	165	0.08
    Including	413.90	417.20	3.30	1.89	187	0.29

  • El Cuervo Vein System

    A total of 22 drill holes were drilled at the El Cuervo target, collared from 5 platforms, fanned out to test approximately 500m of strike extent and 350 m depth. Drilling at El Cuervo has defined mineralization similar to the Amalia, consisting of epithermal quartz veins, breccias and veinlets stockworks hosted within rhyolite volcanics along a major fault system. El Cuervo remains open to expansion along strike and to depth. A long section of El Cuervo with silver ppm and drill results may be viewed at Figure 24, along with a full table of drill results, below.

    Table of Intercepts – El Cuervo Vein System 

    t351.65

    DRILLHOLE	FROM (m)	TO (m)	INTERVAL (m)	EST. TRUE WIDTH	Ag (g/t)	Au (g/t)
    AMDD21-046	214.35	214.80	0.45	0.43	214	0.52
    And	225.55	228.35	2.80	2.70	122	0.13
    And	239.25	270.20	30.95	29.90	44	0.13
    Including	239.25	242.95	3.70	3.57	158	0.49
    Including	239.25	240.95	1.70	1.64	233	0.31
    And	292.00	295.50	3.50	3.38	203	0.53
    Including	294.40	295.50	1.10	1.06	381	1.31
    AMDD21-047	245.10	341.10	96.00	83.14	167	0.54
    Including	279.90	341.10	61.20	53.00	232	0.65
    Including	279.90	325.10	45.20	39.14	290	0.80
    Including	290.40	297.75	7.35	6.37	592	0.69
    Including	300.00	317.35	17.35	15.03	302	1.13
    Including	309.50	317.35	7.85	6.80	438	1.12
    AMDD21-048	214.85	216.45	1.60	1.55	116	1.39
    And	222.15	223.50	1.35	1.30	302	0.56
    And	227.00	233.30	6.30	6.09	77	0.61
    Including	229.60	231.80	2.20	2.13	125	0.68
    And	265.60	303.45	37.85	36.56	54	0.34
    Including	286.90	297.40	10.50	10.14	84	0.75
    Including	294.75	296.40	1.65	1.59	139	4.02
    AMDD22-049	304.90	306.35	1.45	1.24	62	0.81
    And	340.85	10.80	9.26	63	0.80
    And	358.40	376.20	17.80	15.26	144	0.92
    Including	365.55	376.20	10.65	9.13	190	1.01
    Including	365.55	366.55	1.00	0.86	469	0.97
    Including	375.00	376.20	1.20	1.03	483	3.94
    AMDD22-050	336.75	337.55	0.80	0.61	107	2.60
    And	347.10	349.00	1.90	1.46	53	0.27
    And	394.90	409.50	14.60	11.18	117	0.92
    Including	394.90	395.80	0.90	0.69	1185	6.93
    Including	406.45	409.50	3.05	2.34	104	1.32
    AMD22-051	348.50	349.55	1.05	0.83	125	2.10
    And	398.65	416.00	17.35	13.67	253	1.11
    Including	398.65	399.25	0.60	0.47	1510	2.52
    Including	408.40	416.00	7.60	5.99	414	2.10
    Including	410.50	413.15	2.65	2.09	555	4.94
    Including	412.00	413.15	1.15	0.91	637	10.70
    AMDD22-052	278.20	290.00	11.80	10.61	450	1.31
    Including	281.35	288.00	6.65	5.98	695	1.44
    Including	285.90	288.00	2.10	1.89	1577	2.27
    Including	285.90	287.30	1.40	1.26	1800	0.50
    And	308.70	310.00	1.30	1.17	37	1.22
    And	327.10	328.35	1.25	1.12	55	0.68
    And	332.85	336.00	3.15	2.83	84	0.87
    Including	334.50	336.00	1.50	1.35	91	1.48
    AMDD22-053	Adbandoned
    AMDD22-054	No Significant Intercepts
    AMDD22-055	320.15	325.90	5.75	5.17	101	0.73
    Including	320.15	320.80	0.65	0.58	508	3.23
    AMDD22-056	298.80	302.05	3.25	2.97	3	2.55
    Including	298.80	300.25	1.45	1.32	3	4.19
    AMDD22-057	287.95	289.50	1.55	1.31	58	1.20
    And	358.30	359.35	1.05	0.89	95	0.84
    AMDD22-058	323.00	326.00	3.00	2.26	3	1.34
    Including	323.00	324.00	1.00	0.75	7	2.64
    And	384.25	385.50	1.25	0.94	4	1.26
    And	391.50	393.00	1.50	1.13	3	1.26
    And	396.50	398.70	2.20	1.66	42	0.90
    AMDD22-059	154.20	155.70	1.50	1.36	115	0.30
    And	166.70	168.30	1.60	1.45	102	0.26
    And	193.80	195.60	1.80	1.63	102	0.48
    AMDD22-060	211.10	213.80	2.70	1.74	61	0.57
    Including	211.10	212.50	1.40	0.90	80	0.91
    And	230.00	231.00	1.00	0.64	90	0.90
    And	256.85	263.60	6.75	4.34	29	0.31
    Including	259.40	260.35	0.95	0.61	57	1.36
    AMDD22-061	304.95	309.30	4.35	3.77	401	0.79
    Including	306.30	308.10	1.80	1.56	866	1.61
    Including	306.30	306.90	0.60	0.52	1090	4.76
    AMDD22-062	348.00	350.20	2.20	1.61	52	0.43
    And	354.10	360.00	5.90	4.31	44	0.46
    Including	354.10	354.60	0.50	0.37	244	3.03
    And	369.30	371.05	1.75	1.28	24	1.41
    And	384.95	386.85	1.90	1.39	69	0.90
    Including	385.90	386.85	0.95	0.69	98	1.23
    And	394.70	395.65	0.95	0.69	14	1.46
    And	400.90	401.45	0.55	0.40	38	23.00
    AMDD22-063	369.15	373.10	3.95	2.69	78	0.91
    Including	370.75	373.10	2.35	1.60	107	1.36
    Including	370.75	371.85	1.10	0.75	126	2.28
    And	380.00	385.20	5.20	3.55	100	0.48
    Including	382.55	383.95	1.40	0.95	250	0.96
    Including	383.45	383.95	0.50	0.34	491	1.34
    And	402.40	408.30	5.90	4.02	197	1.03
    Including	405.55	408.30	2.75	1.88	310	1.30
    Including	407.55	408.30	0.75	0.51	585	2.05
    AMDD22-064	413.35	414.20	0.85	0.52	29	0.71
    And	418.10	433.85	15.75	9.70	27	0.17
    Including	418.10	419.60	1.50	0.92	53	0.67
    And	468.55	470.00	1.45	0.89	81	0.40
    AMDD22-065	286.40	303.40	17.00	15.15	438	0.80
    Including	293.10	298.15	5.05	4.50	1330	2.02
    Including	294.00	296.00	2.00	1.78	3182	4.49
    Including	294.00	295.25	1.25	1.11	4830	4.94
    And	331.30	338.00	6.70	5.97	76	3.15
    Including	331.30	332.10	0.80	0.71	436	4.87
    Including	335.70	338.00	2.30	2.05	35	7.40
    Including	336.95	338.00	1.05	0.94	33	12.75
    AMDD22-066	319.40	332.95	13.55	10.82	841	10.25
    Including	322.60	332.95	10.35	8.27	1091	13.20
    Including	327.30	332.95	5.65	4.51	1560	19.16
    Including	327.30	329.35	2.05	1.64	2646	29.06
    Including	327.30	328.30	1.00	0.80	2830	32.70
    AMDD22-067	375.20	376.55	1.35	0.95	11	2.87
    And	387.35	405.90	18.55	13.12	27	0.34
    Including	398.40	402.70	4.30	3.04	68	0.21
    Including	398.40	400.00	1.60	1.13	103	0.22

• Amalia

  

  

  

  

  

  San Pedro

  

  

  

  

  

  

  California

  

  

  

  

  

  

  

  

  El Cuervo

  

  

  

  

  

  

  

  

  

  

  
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• AMDD18-009

  

  

  AMDD19-010

  

  

  

  

  

  

  

  

  

  AMDD19-014

  

  

  

  

  

  AMDD19-015

  

  

  

  

  

  

  

  

  

  

  

  

  

• January 26, 2022

  High Grade Gold & Silver Amalia Project- Drilling Now! | Jan 2022 Update

  February 23, 2021

  Bruce Smith Reviews the Amalia Project