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Radius Gold mobilizes drill team for Amalia Project, Mexico and defines drill targets at Coyote Project, Elko, Nevada
VANCOUVER, British Columbia, Aug. 27, 2018 (GLOBE NEWSWIRE) -- Radius Gold Inc. (TSX-V: RDU) is pleased to announce mobilization of a drill team to explore Radi
About this update from Radius Gold Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 27, 2018 (GLOBE NEWSWIRE) -- Radius Gold Inc. (TSX-V: RDU) is pleased to announce mobilization of a drill team to explore Radius’s high-grade gold-silver Amalia Project located in Chihuahua, Mexico. The drill program, operated by Radius and funded by Pan American Silver, is expected to commence in September. Radius is also pleased to announce it has completed a large detailed CSAMT geophysical survey, geological mapping and geochemical sampling at its 100% owned Coyote hot-springs epithermal gold project near Elko, Nevada and is on track to commence Radius-funded drilling this season at Coyote. 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. An agreement to explore Amalia Project with Pan American Silver Corp. was announced 30th July 2018 and Radius has since upgraded the camp to accommodate a drilling team, and mobilized machinery to upgrade roads and build drill platforms. Management expects to commence drilling in September on multiple drill targets, including Campamento, Guadalupe and Dulces (see press release dated July 30th, 2018, and target details and Figure 2 below). Coyote Project On March 21, 2018, Radius announced an agreement to acquire a 100% interest in the Coyote gold property in Elko County, Nevada. The Coyote Project is located in a world class gold producing district near the intersection of the prolific Carlin trend (estimated 90Moz gold production since 1965) and the Independence trend (estimated 8Moz gold production since 1981). In the last 3 months Radius completed at Coyote a 295 station CSAMT geophysical survey covering roughly 1.5km2 and combined soil geochemical and property wide geological mapping. The results of this work have defined compelling drill targets where co-incident rock and soil geochemical gold-antimony-arsenic-mercury anomalies occur within a surficial sinter hot spring environment. The CSAMT survey shows a large and coherent (950m by 250m) strongly resistive zone adjacent to and below the su...