Radius stakes the Rambler Project, a high-grade gold/silver discovery in Chihuahua, Mexico
(TheNewswire)
January 21, 2019 / TheNewswire / Vancouver, Canada — Radius Gold Inc. (TSX-V: RDU) is pleased to announce that it has staked a new 9,600-hectare property called the Rambler Project, located in the Sierra Madre Mountains of Chihuahua State, some 20 km NW of Radius’s Amalia project where a recent drill hole from late 2018 intersected 26m at 7.08g/t Au and 517 g/t Ag (see press release Dec 4th, 2018).
Rambler Project
The project area is previously unexplored with only minor historic artisanal-scale pitting of surface outcrops known. Radius geologists discovered the project during regional prospecting surveys. Epithermal silver/gold (plus significant copper, zinc and lead) mineralization has been sampled by Radius in several veins, vein breccias and disseminated zones over a 9km N/W trend. In total 83 prospecting rock chip samples were collected from the property that range from 0.001 to 16.5 g/t Au and 2 to 2030 g/t Ag. Additionally, several zones have accessory copper 0 to 3.79%, Zinc 0 to 13.9% and lead 0 to 3.45%.
At the main target area identified to date, called Saucito, a 500m long zone of silver rich veining and intense vein stockworks has been sampled along limited exposures in creek beds and several old pits. In the base of the main drainage, an intense zone of stockwork veining at least 70m wide is observed hosted in andesite volcanics within a broad alteration zone. The initial prospecting samples have returned high silver numbers from the larger veins (up to 1.5m wide) and within the narrow stockwork veins cutting the altered host. Thirty-one prospecting rock chip samples were collected by Radius at Saucito with results ranging from 3 to 1300 g/t Ag with the average of 31 samples being 177 g/t Ag, with several of the samples also returning strongly anomalous Zn/Lb. The system is open to expansion in all directions.
Within the Rambler Project Radius has so far identified 6 areas of significant alteration over a 9km trend. Interesting targets include: La Machomera, where a chip channel sample graded 1.55 g/t Au and 274 g/t Ag over 2m and a 0.6m grab sample graded 7.3 g/t Au and 469 g/t Ag with a brecciated vein zone; La India where grab samples recorded 10.35 and 16.5 g/t Au; and El Gringo where a grab sample from silicified volcanic reported 4.78 g/t Au and 3.79% Cu.
Radius plans to have geological teams back on the property shortly to plan the next stage of exploration. Maps and photos of the Project will be available on Radius’s website.
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’s Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith prepared and approved the technical information contained in this news release.
Quality Assurance and Quality Control
Radius follows industry standard QA/QC procedures. Rock chip samples are delivered to the ALS Geochemistry laboratory facilities in Chihuahua, Mexico. The samples are fire assayed for Au and are analyzed for Ag and multi-elements using method code ME-ICP61 following a four-acid digestion. Overlimits are analyzed using an appropriate method. Radius routinely inserts multi-element geochemical standards and blanks into the sample stream to monitor laboratory performance. Quality control samples submitted to ALS were returned within acceptable limits.
About Radius
Radius has been exploring for gold in Latin America for over a decade. The Company has a strong treasury and is looking for investment and project acquisition opportunities across the globe. Please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com) for more information.
ON BEHALF OF THE BOARD
Simon Ridgway
President and CEO
Symbol: TSXV-RDU
Contact: Simon Ridgway
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: [email protected]
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements which include, without limitation, statements about the Company’s plans for the Rambler Project; the Company’s business strategy, plans and outlook; the merit of the Company’s investments and properties; timelines; the future financial performance of the Company; expenditures; approvals and other matters. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, the Company’s plans for the Rambler Project; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company’s plans for the Rambler Project will proceed as anticipated; that the Company’s activities will be in accordance with its public statements and stated goals; that all required approvals will be obtained; that there will be no material adverse change affecting the Company or its investments or properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
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