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Phase 5 drilling commences at Radius's Amalia Project, Mexico
(TheNewswire) Vancouver, British Columbia – TheNewswire - ...
About this update from Radius Gold Inc.
[{"type":"text","content":"Phase 5 drilling commences at Radius's Amalia Project, Mexico\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n August 19, 2021\n \n \n – Radius Gold Inc.\n(TSXV:RDU)\n \n \n is pleased to announce that phase\nfive diamond drilling has commenced at the California Vein System, at\nRadius’s high-grade gold-silver Amalia Project in Chihuahua, Mexico.\nPan American Silver Corp., the project operator, plans a minimum 3500m\ndiamond core drilling with a second rig to be deployed to test the El\nCuervo target in the coming weeks. The current drill program will be\nfully funded by Pan American pursuant to its option to earn an\ninterest in the Amalia Project.\n \n \n \n \n \n Drill Targets\n \n \n \n \n California\n \n \n \n \n California vein system is a subparallel mineralized\nstructure (Figure 1) up to 4m wide of massive silicification,\ncrustiform quartz and local brecciation that outcrops discontinuously\nover 3km.\n \n \n \n \n El Cuervo\n \n \n \n \n El Cuervo is located 3.8km south of San Pedro along\nstrike of the Amalia regional fault (Figure 1).  El Cuervo has\nsilicification, stockwork veining and brecciation up to 7m wide that\nhas been defined semi-continuously for 1.5km, with rock chip samples\nthat range from below detection to 637 g/t Ag and 2.24 g/t Au.\n \n \n \n \n \n \n \n The Agreement\n \n \n \n \n Pursuant to an option agreement signed in June 2018,\nPan American Silver Corp. has the option to earn up to an initial 65%\ninterest in the Amalia Project by making cash payments to Radius\ntotalling US$1.5 million (of which US$800,000 has been received) and\nexpending US$2 million on exploration over four years. Pan American\nmay earn an additional 10% by advancing the property to\npreliminary-feasibility.\n \n \n \n \n Figure 1. Amalia regional drill\ntargets.\n \n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n \n Quality Assurance and Quality\nControl\n \n \n \n \n Drilling is carried out using NQ and HQ size tooling.\nDrill core is cut in half using a rock saw with one-half of the core\nthen taken as a sample for analysis.  Sample intervals are generally\n1m intervals, producing samples of between 2 to 9 kg. Half-core\nsamples are delivered to the ALS Geochemistry laboratory facilities i...