Motagua Norte- Guatemala
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Motagua Norte
Radius Gold holds a 40% interest in Motagua Norte via the modified Option Agreement1with Volcanic Gold Mines. A first pass drill program was completed in H1 20241
Highlights
- Volcanic’s geological team spent considerable time and resources evaluating Radius’s regional applications in eastern Guatemala and identified the Motagua Norte prospect as a high-grade orogenic gold system with compelling drill targets.
- Under the modified Option Agreement, Volcanic earned a 60% interest in the Holly project and the Motagua Norte project by spending US$7M on exploration on the properties within 48 months from March 2021, that being the date drilling permits were granted for the Holly project2
- A first-pass exploratory drilling program was completed at the Mila target in H1 20241
Motagua Norte project:
86 km² land position
- 13.5 km² Cirilo 1 exploration license granted Sept 2023.
- 72.68 km² under application for exploration licences.
- Over 1000 rock chip sample proprietary geochemical data base.
- Excellent access to infrastructure.
- Sparsely populated semi-arid zone.
About Motagua Norte
- Multiple vein-sets along 25 km trend in a Schistose belt associated with regional structures.
- High grade float and sub-crop samples up to 692 g/t gold and 298 g/t silver.
- Several drill targets defined including the Mila Gold Discovery,
- Exploratory drilling completed at the Mila Target in H1 2024
- 13 exploratory holes drilled in the first pass program testing the Mila gold-quartz boulder target did not locate the source of the high-grade boulder field1
As stated in the Radius Gold Mines May 23, 20241 News Release, Volcanic Gold Mines recognises jurisdictional risk associated with a change of government in Guatemala. Before committing further funds to Guatemala, Volcanic will monitor progress of the two significant precious metal deposits of other Operators: Cerro Blanco and Escobal, where developments are on hold.
- See Radius Gold Mines Inc. news release: Radius Gold provides update on drilling at Motagua Norte property, and recent developments in Guatemala, May 23, 2024.
- See Radius Gold Mines Inc. news release: Radius Gold provides update on Guatemala properties, August 19, 2024.
