Amalia Project- Mexico

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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 3.5 km of strike length and a 750 m 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 10,250 hectares. In July 2018 Radius entered into an agreement with Pan American Silver Corp. ("Pan American") to drill and explore the project.

  The Agreement

  Pursuant to an option agreement signed in June 2018, Pan American Silver Corp. was granted the right to earn an initial 65% interest in the Amalia Project by making cash payments to Radius totalling US$1.5 million (paid) and expending US$2 million on exploration over four years (completed). Pan American may earn an additional 10% by advancing the property to preliminary feasibility. 

  

  Mining Property

  The 10,250 hectare property 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.

  Structures:

  • Amalia Vein, 3 km length with high grade Au-Ag, includes drill defined San Pedro high grade zone (Figure 4, 5, 6)

  • California Vein, 2 km length with high grade Au-Ag on surface and in drilling (Figure 7)

  • El Cuervo Vein, 1 km length with anomalous Ag-Au (Figure 8, 21, 22, 23).

  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 3.5 km along this structural break. The principal target at San Pedro, outcrops as a 500 m x 70 m zone 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 11 for 1 m core samples with electrum mineralization within the quartz sulphide stockwork zone. 

  Summary of Drilling

  67 drill holes totalling 23,058 m has been completed at the Amalia project. 10,588 m in 31 drillholes has been completed on the Amalia vein system, and 3,814 m in 14 drillholes completed in the California vein system and 8,656 in 22 drill holes has been completed at the El Cuervo zone. The current drill program is focused on the sub-parallel El Cuervo structure where stockwork veining and breccias up to 40 m wide have been defined semi-continuously for 1.5 km and surface rock chip samples returned up to 637 g/t Ag and 2.24 g/t Au.

  Within the greater Amalia project there are many targets remaining to drill test including: Oro Viejo, La Caverna, California SE, El Durazno and Palmillas.

  With the San Pedro zone drill defined and infill and expansion drilling planned for this year at California, Radius will be in a position to define a significant resource at the Amalia Property and is excited by the possibility of new discoveries at multiple targets that remain to be drill tested.

  
  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

  The most recent program targeted the California vein system defining wide Au-Ag mineralization across 1 km of strike length. The initial shallow drilling has intersected multiphase breccias and stockwork veins with significant widths up to 50 m and high grades with individual samples up to 4210 g/t Ag and 33.1 g/t Au. See Figure 12 for a drill core photo of Ag-Au mineralization from the California vein. See Figures 15 to 20 for cross sections of the drilling at California vein system with results.

   

  
  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

   

  At El Cuervo, all drill holes have been collared from 2 platforms with the holes fanned out testing approximately 350 m of strike extent and 300 m depth. The El Cuervo structure remains open to expansion along strike and to depth. Assay results for holes AMDD22-055 to AMDD22-060 are still pending. The full table of results as well as plan maps showing the El Cuervo drilling to date are presented below. 

  Table of Intercepts – El Cuervo Vein System 

  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	351.65	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

   

  Exploration Targets

  Palmillas Target

  The Palmillas target is a small historic working 1.5 km 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).

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

  Oro Viejo, La Caverna, California SE, El Pando

  Untested vein breccia targets along the California vein system, 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 0.5 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 (blankets, 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

  

  

  

  

  

  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