Vancouver, British Columbia–(Newsfile Corp. – February 18, 2022) – Radius Gold Inc. (TSXV: RDU) (OTC Pink: RDUFF) and its joint venture operator, Volcanic Gold Mines Inc. (TSXV: VG), have reported results from the Holly project in Guatemala. Holly is just one of Radius’ portfolio of projects located in Mexico, United States and Guatemala which it continues to advance, utilizing partnerships where appropriate in order to retain the company’s strong treasury.
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Volcanic Gold is earning up to 60% on both the Holly and Banderas projects by spending US$7 million within 48 months, with US$1 million to be spent with one year of receiving drill permits.
Drilling at Holly is focused on extending this high-grade system at depth and along strike to the south with a goal of establishing a meaningful high-grade resource and improving confidence in the trend of the vein structure. Hole HDD-21-027 intersected 4.57 meters, or approximately 4.1m true width, returning 54.24 grams per tonne gold and 3,925 grams per tonne silver. This hole cut the vein at the same depth in the system as hole HDD-21-23 that intercepted 4.58m of 79.84 g/t gold and 5,053 g/t silver 150m to the south, as reported in October.
Hole HDD-21-028 failed to intersect the La Pena structure but management believes it was not drilled to sufficient depth. It will be re-entered within the current program to test this theory. Results are still pending for hole HDD-21-026 as the shipment of core and rock samples that contained this hole was caught up in delays discussed in previous news releases. Several other veins in the area with similar orientation will be tested during this current program.
Management is very pleased as the La Pena vein system continues to produce exceptional grades. As the high-grade intercepts show, the project is defining ounces quickly. A preparation lab is being set up in the region for surface rock and soil samples, and management is optimistic future turn around on drill core will be within 45 days.
Radius is a member of the Gold Group of companies, led by Simon Ridgway. Management is seeking out additional investment and project acquisition opportunities across the globe.
The shares are trading at $0.39. For more information, please visit the company’s website at www.RadiusGold.com, contact Bruce Smith, President and CEO, at 604-801-5432 or toll free at 1-888-627-9378 or by email at [email protected].
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