Radius Gold drills 26.90 metres of 353 g/t silver at Amalia, Mexico
Radius Gold Inc. [RDU-TSXV; RDUFF-OTC] reported results from the California target at the Amalia project, Mexico. Radius has defined an extensive zone of both high-grade and disseminated silver gold mineralization in its initial drill program at the California target.
The initial 14-hole, 3,814-metre drill program intersected multiphase breccia and stockwork vein systems with significant widths and high grades up to 4,210 g/t silver and 33.1 g/t gold. All assays have now been received and the drill rig moved to the El Cuervo target where drilling is in progress.
New drill results include drill hole AMDD21-045 that returned 87.25 metres at 60 g/t silver, including 10.95 metres at 104 g/t silver, and 3.10 metres at 165 g/t silver, and 3.30 metres at 187 g/t silver.
Bruce Smith, CEO, commented, “The results from California are a great advance for the Amalia project, with multiple intersections over 1km of strike including hole AMDD21-034 that returned 3.95 metres at 487 g/t silver and 2.15 g/t gold. AMDD21-038 returned 11.20 metres at 379 g/t silver and 1.26 g/t gold. AMDD21-039 returned 26.90 metres at 353 g/t silver and 2.59 g/t gold. AMDD21-043 returned 12.75 metres at 259 g/t silver and 0.54 g/t gold. AMDD21-044 returned 19.05 metres at 346 g/t silver and 0.63 g/t gold.
The system remains open to expansion along strike and to depth and so far has only been drilled on 200 m centres. With the San Pedro zone drill defined and infill drilling planned for next year at California, we will be in a position to define a significant resource at the Amalia property. With drilling continuing at the El Cuervo target and many targets remaining to drill test (Oro Viejo, La Caverna, California SE), 2022 will be an exciting year for Radius.”
Drilling is currently in progress at El Cuervo target, which is a previously untested, subparallel structure where stockwork veining and brecciation has been mapped up to maximum 40 m wide and semi-continuously for 1.5 kilometres. Surface rock chip samples at El Cuervo range from below detection to 637 g/t Ag and 2.24 g/t Au. PAS is operating the El Cuervo drill program and expects to complete 3,500 m of drilling in the first program at the target.
Pursuant to an option agreement signed in June 2018, Pan American Silver Corp. [PAAS-TSX, NASDAQ] has the option to earn up to an initial 65% interest in the Amalia Project by making cash payments to Radius totalling US$1.5 million (of which US$800,000 has been received) and spending US$2 million on exploration over four years. Pan American may earn an additional 10% by advancing the property to preliminary-feasibility.