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Radius Gold Provides Update on Amalia Project, Mexico
(via TheNewswire) March 4, 2019 / TheNewswire / Vancouver, Canada - Radiu...
About this update from Radius Gold Inc.
[{"type":"text","content":"Radius Gold Provides Update on Amalia Project, Mexico(via TheNewswire)\n \n \nMarch 4, 2019 / TheNewswire / Vancouver, Canada - Radius Gold Inc. (TSX-V: RDU) is pleased to provide an update on its preparations for stage two drilling at the Amalia Gold-Silver Project in Chihuahua, Mexico. Late last year (see Radius news December 4th 2018), Radius announced the results from its initial drill program at Amalia. Five drill holes tested the Campamento (now called San Pedro) structural corridor, intercepting gold and silver mineralization in all holes with the deepest hole AMD18-009 cutting 26m at 7.08 g/t Au and 517 g/t Ag, including 5m at 14.71 g/t Au and 1378 g/t Ag.\n\n \n \nRecent review and re-logging of the core indicates that of the five holes drilled within the San Pedro target (AMDD18-001, 003, 007, 008, 009) only the bonanza grade hole AMD18-009 cut the target within the preferred Lower Andesite super group volcanic. All the other holes cut the target structure within the Upper Rhyolite super group volcanics (see figure 1 below). As all of the major epithermal deposits of the northern Sierra Madre are hosted within the Lower volcanic units, this indicates the potential for a significant discovery with further drilling. Similar style major epithermal mines of the Sierra Madre (e.g. Palmerejo, Pinos Altos, La Cienega) located in the same regional volcanic belt as Amalia are known to have mineralization occurring over large vertical intervals between 600 and 750m, hosted within the Lower Andesite volcanics. To date drilling has tested a very limited part of the system (less than 150m below surface) and it is intended to follow the high-grade mineralization along strike and to depth within the Lower Andesite volcanics with further drilling.\n\n \n \nDuring January and February 2019, Radius completed access agreements with the landowners at Amalia to allow for a second drilling program. The Company has prepared and submitted a new environmental permit with 52 proposed drill pad locations. SEMARNAT, the permitting authority in Chihuahua, has indicated approval should be complete in less than one month. Radius has constructed a new and permanent camp and is anticipating drill mobilization to the project in approximately one month. Pan American Silver is currently earning into 65% of the project and the current work programs are fu...