Business
Radius Exercises Option on Sixty Mile Claims, Yukon
Radius Exercises Option on Sixty Mile Claims, Yukon
About this update from Radius Gold Inc.
[{"type":"text","content":"\n\n\n\n Nov. 1, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Nov. 1 /CNW/ - Radius Gold Inc. (TSX-V: RDU) is pleased to\n announce that it has purchased 23 claims located in the Sixty Mile area\n of the Yukon, from Northland Resources S.A. pursuant to an option\n agreement which was exercised by Radius at the end of October 2010. \n Eighteen of the claims acquired are now owned outright by Radius and\n five claims are held via the assumption by Radius of an underlying\n option agreement with the property owner. These claims form part of the\n Sixty Mile property as described on the Company's web site. \n\n\nThe Property\n\n\nThe claims are underlain by Late Cretaceous calc-alkaline volcanics of\n the Carmacks Group preserved in a northeast trending graben in the\n Sixty Mile River valley. The graben is bounded on the southeast side by\n the Sixty Mile Fault, a regional structure that juxtaposes the\n volcanics with older meta-sedimentary and meta-igneous rocks. Outcrop\n in the valley is limited to exposures created by placer miners and\n consists of propylitic to argillic altered, pyritized andesitic\n volcanics cut by quartz, carbonate and sulfide veins and veinlets.\n\n\nYukon prospector Erwin Kreft identified this mineralization in the\n 1980s, and optioned the ground to Klondike Gold Mining Corporation in\n 1988 who drilled 7 diamond drill holes totaling 765m. The most\n significant result was from DDH D4/88-02 which returned an average of\n 8.7 g/...