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Radius Gold and Pan American Silver include 800 ha Palmillas Properties within the Amalia Gold-Silver JV in Chihuahua, Mexico
(via TheNewswire) February 24, 2020 - TheNewswire - Vancouve...
About this update from Radius Gold Inc.
[{"type":"text","content":"Radius Gold and Pan American Silver include 800 ha Palmillas Properties within the Amalia Gold-Silver JV in Chihuahua, Mexico(via TheNewswire)\n \n \nFebruary 24, 2020 - TheNewswire - Vancouver, Canada - Radius Gold Inc. (TSXV:RDU) is pleased to report that Pan American Silver Corp. has elected to exercise a right to include the 800ha Palmillas Properties within the Amalia Project joint venture. The Palmillas Properties host multiple exploration targets, including high-grade silver-gold mineralization, outcropping 1.8km northwest along strike from the drill defined high-grade zone at San Pedro. \n\n\n \nRadius Gold acquired an option on the Palmillas Properties in November 2019 from a local family. Pan American, as the operator will fund and manage the expanded project according to its option agreement with Radius. New drill permits for Amalia have been submitted, and phase four drilling is expected to commence in the second quarter of 2020.\n\n \n \nPalmillas Properties\n\n \n \nAdjoining the core Amalia concessions and surrounded by the Amalia 4 property, the Palmillas concessions cover the northwestern and southeastern extension of the Amalia fault zone. The Amalia fault has been traced over 10 km trending northwest and separates upper rhyolitic volcanics from lower andesite dominant volcaniclastics. The Amalia fault hosts gold and silver mineralization, including the San Pedro zone with high-grade gold and silver drill results. \n\n\n \nThe priority target within the Palmillas properties is located on the Amalia fault 2 km northwest of San Pedro, where Radius geologists have sampled outcrop and historic mining adits including a 4 m section that assayed 9.5 g/t Au and 73 g/t Ag, and a 10.5 m section that assayed 1.54 g/t Au and 58 g/t Ag. Mineralization is hosted within fault-controlled quartz vein breccias similar in style to San Pedro. The Palmillas Properties are largely unexplored and contain several targets and historic mining areas that will be explored in the coming months. \n\n\n \n\n\n\nClick Image To View Full Size\n\n\n\n \n \nFigure 2. Recently acquired Palmillas concessions and Radius's Position along the Amalia fault zone. \n\n\n \nThe Pan American Agreement\n\n\n \nAccording to the option agreement signed in June 2018, Pan American Silver Corp. has the option to earn up to an initial 65% interest in Radius's Am...