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Radius Gold and Pan American Silver to explore Amalia Project, Mexico
VANCOUVER, British Columbia, July 30, 2018 (GLOBE NEWSWIRE) -- Radius Gold Inc. (TSXV:RDU) is pleased to announce it has entered into an agreement with Pan Amer
About this update from Radius Gold Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, July 30, 2018 (GLOBE NEWSWIRE) -- Radius Gold Inc. (TSXV:RDU) is pleased to announce it has entered into an agreement with Pan American Silver Corp. (“Pan American”) to drill and explore Radius’s high-grade gold-silver Amalia Project located in the State of Chihuahua, Mexico. Radius has recently received drill permission for the Amalia Project from the local authorities and expects to commence drilling funded by Pan American within the coming months. Amalia Project The 9450 hectare Amalia Project is located 25 km SW of the historic Guadalupe y Calvo mining district in Chihuahua. Radius geologists discovered high grade epithermal silver-gold mineralization in several veins, vein breccias and disseminated zones over 3.5km of strike length and a 600m vertical interval following the trace of a large regional fault zone. Several drill targets have been developed: Campamento target is a 500m x 70m zone of intense silicification and brecciation with massive and stockwork veining. A chip channel (reported Sept 19, 2017) across the middle of Campamento graded 62m at 0.43 g/t Au and 98 g/t Ag from 30 continuous rock chip samples. In March 2018, Radius reported high grade zones at Campamento including a continuous rock chip channel assaying 4.5m at 10.3 g/t Au and 202 g/t Ag. The exposed Campamento system is Rhyolite hosted, high level banded chalcedonic silica veins and breccias. Radius and Pan American plan to initially test 100m to 250m below Campamento where mineralization is expected to transition to andesite hosted higher grade sulphide rich breccias as exposed along strike and deeper in the system at Guadalupe target. Guadalupe target is a high grade andesite hosted structurally controlled breccia zone that outcrops 450m south along strike from Campamento and 250m lower in the geological section. Guadalupe sampling includes the previously published (Radius news Sept 19, 2017) continuous rock chip results: Guadalupe shaft - 7m at 3.62 g/t Au and 1048 g/t Ag, and Guadalupe tunnel - 4m at 3.92 g/t Au and 888 g/t Ag. Dulces target is located 800m NE of Campamento, at similar elevation. The poorly exposed Dulces vein occurs within an extensive area of argillic altered andesite volcanics and related gold in soil anomaly. The main vein varies from 1 to 1.5m wide and with ch...