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an exploration company, focused on a strong portfolio of precious metal projects in Central America
Message: Radius Gold Inc. drills deeper at Banderas property, Guatemala
VANCOUVER, Feb. 3 /CNW/ - Radius Gold Inc. (TSX-V: RDU) is pleased to
report that diamond drilling is continuing on the HB property in
Guatemala with hole 10 presently underway. To date all holes have
targeted the Pyramid Hill Zone, a >3km long north - south trending
structural corridor that hosts broad zones of gold/silver bearing
quartz veins, vein breccias and quartz vein stock work zones.
Previous work along this corridor, which included trenching and shallow
drilling, returned mixed results. The objectives of the current drill
program are to firstly test below the previous mineralized drill
intercepts along this structural corridor, and secondly to test the
zone substantially deeper (200-500m) than any previous drilling.
The results of the first seven holes, all of which were drilled to
explore down dip of historic intercepts, have been received and they
are in line with previous drilling, with a best intersection of 6.1m @
2.4g/t Au + 79g/t Ag from 82.9m downhole in hole 1. This hole targeted
50m below hole 22, the last hole of the 2002/2003 drill program which
returned 6.7m @ 3.9g/t Au + 69.8g/t Ag (see Radius Explorations news
release dated April 13, 2004).
All of the 2010 holes cut a consistent, wide mineralized structure, with
a quartz vein stock-work in the hanging wall, a central vein or vein
breccia zone before passing through a well defined footwall breccia and
into propylitically-altered andesites. The strength of the main
mineralized structure has been confirmed. However, the gold/silver
results to date have been disappointing.
Deep Drilling Program
All previous drilling on the HB project has been between 850m and 1,100m
above sea level (ASL). See long section on RDU web site. Recent trenching at the southern limit of the Pyramid Hill zone, the
lowest part topographically, has returned more consistent gold results
associated with anomalous mercury and antimony values, something not
seen at higher topographic elevations.
Mercury and antimony are generally associated with the higher levels of
the precious metal zone in a gold-bearing epithermal system, indicating
that the mineralized structure needs to be tested at 700m ASL and
lower. Therefore, a larger rig has been mobilized to the property to
enable completion of the proposed deeper holes.
Several other drill targets remain to be tested on the HB property,
including the M28 zone - where gold-silver mineralization is
potentially pooled below a rhyolite cap- and the Holly target - where
several high grade intercepts drilled in 2002 have yet to be
followed-up. In addition, Radius's exploration in the belt is targeting
regional stream sediment geochemical and Landsat anomalies.
Radius is the largest landholder in south-eastern Guatemala, an area
that has been proven to host world class silver-gold deposits.
Roger Hulstein, BSc, is a member of the Association of Professional
Engineers and Geoscientists of British Columbia and is the Company's
Qualified Person as defined by National Instrument 43-101. Mr. Hulstein
is responsible for the accuracy of the technical information in this
Radius has been exploring for gold in Latin America for nearly a decade,
and has assembled interests in a portfolio of promising gold projects throughout the
region, including carried stakes in two small-scale developing gold projects in Guatemala and Nicaragua.
In addition to its ATAC-belt claims, Radius also has two other 100% owned exploration
plays, the HB property in Guatemala and the Sixty Mile property in the Yukon Territory.
ON BEHALF OF THE BOARD
Simon Ridgway, President & CEO
Investor relations: Ralph Rushton / Erin Ostrom
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 79.8-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty
affecting the business of Radius Gold Inc. Actual results may differ
materially from those currently anticipated in such statement.
For further information: For further information on Radius and its properties, please call toll free 1-888-627-9378 or visit our web site (http://www.radiusgold.com/">www.radiusgold.com).
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