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Radius Gold provides exploration update for Amalia Gold-Silver JV in Chihuahua, Mexico
(via TheNewswire) March 25, 2020 - TheNewswire - Vancouver, Canada -...
About this update from Radius Gold Inc.
[{"type":"text","content":"Radius Gold provides exploration update for Amalia Gold-Silver JV in Chihuahua, Mexico(via TheNewswire)\n \n \nMarch 25, 2020 - TheNewswire - Vancouver, Canada - Radius Gold Inc. (TSXV:RDU) is pleased to provide an exploration update for its Amalia Gold-Silver joint venture project, operated by Pan American Silver Corp. The highlight of progress to date is the development of the El Cuervo target, where wide zones (up to 40m) of silicification, breccias and veining with strong gold and silver rock chip geochemistry is being mapped and sampled 3.8km south east of the current drilled area at San Pedro.\n\n\n \nSince optioning the Palmillas properties (see new release February 24, 2020), Pan American has conducted detailed geological mapping and collected over 250 rock chip samples from selected targets along 6 km of the Amalia fault system. \n\n \n \nEl Cuervo Target\n\n \n \nThe El Cuervo target is located within the newly acquired Palmillas properties, 3.8km south east of San Pedro. Geological mapping has identified a zone of veining, silicification and breccias approximately 750m long and upto 40m wide. Initial prospecting rock chip samples range from below detection up to 637 g/t Ag and 2.24 g/t Au. The geological setting is similar to San Pedro zone. Geological maps and sampling data will be available at http://www.radiusgold.com/s/amalia.asp.\n\n\n \nPhase IV Drilling\n\n\n \nEnvironmental permits are in progress for a fourth phase of drilling at Amalia. Currently 9 deep holes are planned to test down dip and lateral expansions of the high grade gold and silver mineralization defined at San Pedro in drill phases I - III.\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 Amalia Project and Palmillas Properties by making cash payments to Radius totaling US$ 1.5 million (of which US$250,000 has been received) and expending over four years US$ 2 million on exploration and reimbursement of Radius's costs to maintain its option agreements with the owners of Amalia and Palmillas. Pan American may earn an additional 10% by advancing the project to preliminary feasibility. \n\n\n \nTechnical Information\n\n\n \nBruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is ...