Holly Project

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    The Holly property straddles the regional Jocotan Fault which forms part of the Motagua Suture Zone, 400km long by up to 80km wide deformation zone that separates the North American and Caribbean plates. At Holly the Jocotan is mineralized and forms a distinct east-west trending ridge separating older metamorphosed sediments to the north and much younger volcanics to the south. Radius has discovered multiple high grade gold and silver occurrences along and crosscutting this portion of the Jocotan and have has success in the limited drilling that has been done on these targets thus far (Figure 1). The Holly and Banderas property are under a joint venture agreement with Volcanic Gold Mines. 

    Holly Project Highlights 

    • Low sulphidation gold silver epithermal system
    • Multiple high-grade quartz veins intersecting wide mineralized Jocotan fault zone (Figure 2)
    • Located in eastern Guatemala in a terrain with world class gold-silver mines and deposits
      • Key features of both Escobal and Cerro Blanco deposits
    • High-grade gold-silver mineralization 
      • Surface results to 396 g/t gold and 7092 g/t silver 
      • 2001 drill results to 6.00 m @ 43.56 g/t gold and 1,618 g/t silver 
      • Ongoing drilling producing results to 14.80 m @ 3.96 g/t gold, 1,097 g/t silver
    • Limited shallow historic drilling <150m
    • Holly is 60km by paved road to Bluestone's planned processing plant
    • Possible fast track to establish high grade gold resource
    • The road cut through the Jocotan fault is 150m wide regional mega shear- not drill tested (Image 1).
    • Joint Venture with Volcanic Gold Mines  

    Holly Project Overview

    Significant Drill Results
    Drill HOLE FROM
    (M)
    TO
    (M)
    INTERVAL
    (M)
    AU
    (G/T)
    AG
    (G/T)
    HDD-001 (2001) 36.50 47.00 10.50 3.99 150
    HDD-001 (2001) 48.50 49.00 0.50 8.36 200
    HDD-004 (2001) 39.10 46.60 7.50 3.47 220
    HDD-004 (2001) 54.10 60.10 6.00 43.56 1,618
    HDD-005 (2001) 19.10 22.70 3.60 22.03 697
    HDD-007 (2001) 88.50 90.00 1.50 7.19 123
    HRC-001 (2002) 50.30 61.00 10.70 4.83 265
    HRC-002 (2002) 76.20 79.30         3.10 2.30 125
    HDD-21-001 46.10 47.70 1.60 24.10 568
    HDD-21-001 53.70 60.60 6.90 4.90 85
    HDD-21-002 95.15 106.27 11.12 6.29 282
    INCLUDING 95.15 98.00 2.85 15.50 342
    & INCLUDING 102.35 105.22 2.87 8.08 633
    HDD-21-003 101.85 112.50 10.65 5.47 256
    HDD-21-004 128.55 163.17 34.62 1.76 574
    INCLUDING 128.55 143.35 14.80 3.96 1,097
    INCLUDING 131.40 133.67 2.27 9.79 2,035
    & INCLUDING 136.00 137.85 1.85 5.60 2,801
    & INCLUDING 154.02 163.17 9.15     - 380
    HDD-21-005 to 016 Results Pending

    For La Peña Zone Cross Section see Figure 3.

    For La Peña Zone Long Section see Figure 4.

    For the Holly Project plan view with drill colars and traces click here 

     

    Terms of Guatemala Radius Gold Inc and Volcanic Metals Inc option

    Volcanic can earn a 60% interest in the Holly and the Banderas projects by spending the cumulative amount of US$7.0 million on exploration of the Properties within 48 months from the date of the agreement.

    An initial US$1M must be spent on exploration within the 12 months of receiving the required drill permits, which expenditure will include a minimum 3,000m of drilling on the properties.

    Following the exercise of the Option, Volcanic will enter into a standard 60/40 Joint Venture in order to further develop the Properties.

    Volcanic has also been granted an exclusive right to evaluate all other property interests of Radius in Guatemala with a right to acquire an interest in any or all other such properties on reasonable terms.

  • HDD21-001 to HDD21-003