Business
Funding secured to commence drilling at Plata Verde silver project with drilling team mobilized to field
(TheNewswire) March 5, 2024 – TheNewswire - Vancouver, British C...
About this update from Radius Gold Inc.
[{"type":"text","content":"Funding secured to commence drilling at Plata Verde silver project with drilling team mobilized to field \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n March\n \n \n 5, 2024 –\n \n \n TheNewswire -\n \n \n Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU)\n(“Radius” or the “Company”)\n \n \n \n \n is pleased to announce that\n \n \n Minera San Julian, S.A. de C.V. (“Minera San\nJulian”), a wholly owned subsidiary of Fresnillo plc\n(“Fresnillo”) and Geometales del Norte-Geonorte, S.A. de C.V.\n(“Geonorte”), a wholly owned subsidiary of Radius Gold, have\nsigned an option agreement in order to mobilize field teams and drill\nequipment to the Plata Verde project. The option agreement replaces\nthe exclusivity agreement signed in July 2022 under which the\ncompanies had been co-operating on exploration. The new agreement\nprovides for an initial investment of US$250,000 to mobilize drilling\nand field teams, and a second investment of US$250,000 will be made on\nthe day the drilling commences, with further funding provided as\napproved by the technical committee under the terms of the option\nagreement.\n \n \n \n \n Bruce Smith, Radius Gold President\nand CEO, commented: “We were pleased to deploy the joint geological\nteam to initiate our maiden drilling program at Plata Verde.  This\nproject has many of the qualities that companies look for when\nassessing the potential to make a discovery. Plata Verde is located in\na prolific silver mining district, it has never been drill-tested and\nhas demonstrated significant silver mineralization in surface and\nunderground rock chip sampling, excellent recoveries in metallurgical\ntesting and has a history of bulk-tonnage production\n \n \n . Fresnillo is one of the largest silver\nproducers in the world and has significant expertise in Mexico and the\nSierra Madre, and with a joint team to define the exploration program,\nwe have the best chance to make a discovery.”\n \n \n \n \n Plata Verde Project\n \n \n \n \n The Plata Verde project located in Chihuahua, Mexico,\nwas re-discovered by Radius Gold, and is a historic, large-scale,\nunderground, bulk tonnage silver ...