Business
Radius Gold Completes Geophysical Survey and Generates New Drill Targets for Spring Peak Property, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 19, 2016) - Radius Gold Inc. (TSX VENTURE:RDU) is pleased to announce the successful completion of a CSAMT surv
About this update from Radius Gold Inc.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 19, 2016) - Radius Gold Inc. (TSX VENTURE:RDU) is pleased to announce the successful completion of a CSAMT survey and the generation of new drill targets at its Spring Peak Property, Nevada, which Radius has optioned from Kinetic Gold (for Option terms see news release - June 14, 2016). Radius contracted Zonge International Inc. to complete a 13-line CSAMT geophysical survey at its Spring Peak Property. Several resistive geophysical anomalies have been identified that correlate with anomalous surface and drill hole geochemistry (Au, Ag, Hg, Sb, and As), identified structural zones, and quartz-adularia veining identified in historical drill holes. Radius is an experienced explorer in hot spring environments, and management believes that the geological setting, geochemically anomalous sinter, and the nature of the geophysical resistivity anomalies below the sinter are positive features that merit further work. The Spring Peak Property is located approximately 6 km southeast of the historical open pit mines at Aurora. At Spring Peak, a sinter terrace is exposed along a structure parallel to the Aurora-Borealis trend, and overlies altered volcaniclastic deposits and basement Cretaceous granites. The sinter terrace contains anomalous concentrations of Au, Ag, Hg, Sb, and As. Recent ash fall deposits cover much of the area, but frequent vein float with multi-ppm gold concentrations can be found across the Property. The area was drilled with shallow holes in the 1980s, the majority of which were vertical. The sinter terrace and structure that appear to control the anomalous values were never drill tested. Radius believes the Property has the potential to host subvertical high-grade gold veins similar those found within the Aurora-Borealis trend. Previous exploration activities by Radius include due diligence sampling of sinter terraces and vein float on the Property, prospecting along the structure of interest, and a soil sampling survey (100m x 25m grid oriented orthogonal to the NE-SW targeted structure). Radius is currently preparing a Plan of Operations for a drilling program, to be submitted to the United States Forest Service this fall. Radius plans to drill-test the Property once the Plan of Operations has been approved, anticipated for mid- to late-2017. Other Properties The Comp...