Holly Project- Guatemala
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The Holly property straddles the regional Jocotan Fault which forms part of the Motagua Suture Zone, 400 km long by up to 80 km 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
- 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
- 2002 drill results to 6.00 m @ 43.56 g/t gold and 1,618 g/t silver
- Ongoing drilling producing results to 4.58 m @ 79.84 g/t gold, 5,053 g/t silver
- Limited drilling to date of the Jocotan fault zone and most of the cross-cutting veins
- Only one vein, La Pena, has more than 4 drill holes
- A maiden Inferred Mineral Resource has been estimated for the first target, La Peña vein.
- The high grade La Peña vein remains open to expansion along strike and importantly at depth, where exceptionally high grade results have been returned.
- Multiple other drill targets remain un-tested at Holly with potential for new discoveries.
- Joint Venture with Volcanic Gold Mines Inc.
- Holly is 60km by paved road to Bluestone’s planned processing plant.
Holly Project Overview:
Table 1: Holly, Peña Vein Resource Estimate
(effective date 7th June, 2022)
CATEGORY
CUT-OFF GRADE AUEQ² (G/T)
TONNES ABOVE CUTOFF (MILLIONS)
GOLD (G/T)
SILVER (G/T)
GOLD (OZ)
SILVER (OZ)
GOLD EQUIVALENT² (G/T)
GOLD EQUIVALENT² (OZ)
INFERRED
3.00
1.32
6.46
256
272,110
10,913,360
9.57
406,316
Significant Drill Results
DRILLHOLE FROM (m) TO (m) INTERVAL (m) GOLD (g/t) SILVER (g/t) Est. True Width HDD-001 (2001) 34.8 49 14.20 4.14 151 13.43 HDD-004 (2001) 39.1 46.6 7.50 3.47 220 6.03 HDD-004 (2001) 54.1 60.1 6.00 43.56 1618 4.82 HDD-005 (2001) 19.1 22.7 3.60 22.03 697 2.93 HDD-007 (2001) 88.5 90 1.50 7.19 123 1.40 HRC-001 (2002) 50.3 61 10.70 4.83 265 8.76 HRC-002 (2002) 76.2 79.3 3.10 2.30 125 1.99 HDD-21-001 46.10 47.70 1.60 24.10 568 1.55 HDD-21-001 53.70 60.60 6.90 4.90 85 6.68 HDD-21-002 95.15 106.27 11.12 6.29 282 10.78 including 95.15 98 2.85 15.50 342 2.76 including 102.35 105.22 2.87 8.08 633 2.78 HDD-21-003 101.85 112.5 10.65 5.29 256 9.85 HDD-21-004 119.5 143.5 24 3.10 694 17.66 including 131.4 133.67 2 9.79 2035 1.68 including 136 137.85 2 5.60 2801 1.37 HDD-21-004 154.02 163.17 9.15 380 6.79 HDD-21-005 no significant intercepts HDD-21-006 35.07 39.3 4.23 4.00 136 3.39 HDD-21-007 42.05 45.22 3.17 2.93 284 1.36 HDD-21-008 no significant intercepts HDD-21-009 80.82 82.35 1.53 2.19 150 1.23 HDD-21-010 no significant intercepts HDD-21-011 209.2 210.05 0.85 0.548 65.4 0.65 HDD-21-012 60.00 62.00 2.00 2.82 141 1.63 HDD-21-012 71.80 74.82 3.02 1.73 109 2.45 HDD-21-013 no significant intercepts HDD-21-014 51 79.3 28.3 42 including 52.22 54.75 2.53 2.90 108 2.12 including 57.70 59.80 2.10 3.60 92 1.76 HDD-21-015 108.65 124.20 15.55 7.67 615 13.13 including 108.65 115.90 7.25 16.20 848 6.12 HDD-21-016 77 79 2.00 4.15 154 1.67 HDD-21-017 134.25 143.08 8.83 8.81 355 6.82 HDD-21-018 71.67 73.2 1.53 1.81 57 1.37 HDD-21-019 28.97 30.5 1.53 191.80 539 1.39 HDD-21-019 171.9 178.42 6.52 11.72 340 5.91 including 172.9 176.6 3.70 20.36 576 3.36 HDD-21-020 61.7 67.1 5.40 4.38 350 5.09 including 63 64 1.00 20.70 1616 0.94 HDD-21-020 131 134.2 3.20 255 2.98 HDD-21-021 53.37 54.55 1.18 0.19 40 0.97 HDD-21-022 21.35 22.87 1.52 7.00 48 1.38 HDD-21-022 27.45 32.02 4.57 1.05 14 4.14 including 28.97 30.9 1.93 1.86 12 1.75 HDD-21-022 50.32 51.85 1.53 5.34 5 1.39 HDD-21-022 199.77 201.30 1.53 11.30 522 1.39 HDD-21-023 196.72 198.25 1.53 1.93 171 1.50 HDD-21-023 202.82 207.4 4.58 79.84 5053 4.50 including 204.45 205.7 1.25 289.50 18329 1.23 HDD-21-024 56.42 57.95 1.53 0.011 207 HDD-21-025 No significant intercepts HDD-21-026 127 130 3.00 0.41 23 2.33 HDD-21-027 210.45 215.02 4.57 54.24 3925 HDD-21-28 55.6 57.95 2.35 2.14 97 And 247.7 248.75 1.05 2.75 112 0.85 HDD-21-029 7.62 10.67 3.05 1.17 344 HDD-22-030 7.62 14.3 6.68 1.92 3 Including 9.15 12.6 3.45 3.54 3 HDD-22-030 28.8 29.8 1.00 8.64 10 0.71 HDD-22-030 160.12 170.8 10.68 2.07 389 9.81 Including 161.65 163.17 1.52 11.40 1150 1.40
For La Peña Zone Cross Section see Figure 2. For La Peña Zone Long Section see Figure 3.For the Holly Project plan view with drill colars and traces click here.
For Holly project geological map with gold geochemistry see Figure 4.
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 3,000 m 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.
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HDD21-001 to HDD21-003
