Business
Radius Gold Provides Update on Guatemala Properties
(TheNewswire) August 19, 2024 – TheNewswire – Vancouver, ...
About this update from Radius Gold Inc.
[{"type":"text","content":"Radius Gold Provides Update on Guatemala Properties\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n August 19, 2024 –\n \n\n TheNewswire –\n \n\n Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU)\n(“Radius”) and joint venture partner, Volcanic Gold Mines Inc.\n(TSXV: VG) (“Volcanic”),\n \n\n reports that\nVolcanic has fulfilled the modified Option Agreement (see News Release\nFebruary 21, 2024) and earned a 60% interest in Radius’s Holly and\nMotagua Norte Properties in Guatemala by spending US$7 million in\nexploration expenditures.\n \n\n\n\n During the period July 2021 to July 2022 Volcanic\ninvested over US$4.5 in exploration on\n \n\n the\n \n\n Holly Project, the majority of that was spent on\ndrilling, and the joint venture established a high-grade epithermal\n \n\n gold-silver inferred mineral resource of\n \n\n 4\n \n\n 10,000oz at 9.6 g/t\nAuEq\n \n\n 1\n \n\n .\n \n\n\n\n The resource was established on the La Pena vein, is\nopen in all directions and is just one of many epithermal veins on the\nHolly property.  Typical results of the drilling were exceptional\nhigh grade intercepts, such as\n \n\n 4.57m @ 54.24 g/t\nAu and 3925 g/t Ag in hole HDD-21-027\n \n\n and 6.52m\n@ 11.72 g/t Au and 340 g/t Ag in hole HDD-21-019\n \n\n .\n \n\n However, as has been previously\nstated, the joint venture has put exploration of the property on hold\nuntil there is advancement at the two significant precious metal\ndeposits in Guatemala where developments are pending: the\nmulti-million ounce gold deposit at Cerro Blanco and the large high\ngrade silver-lead-zinc deposit at Escobal.\n \n\n\n\n Radius has also been working to expand its portfolio of\nexploration properties.  The Company is currently at the\ndue-diligence stage to option a road accessible, exploration-stage\ncopper porphyry property in Peru, located in a belt that is host to a\nnumber of operating copper mines and development stage projects.\n \n\n\n\n\n\n 1)\n \n\n The\neffective date of the Mineral Resource Estimate is June 7, 2022 and an\nNI43-101 Technical Report on the Holly property is filed on the\nCompany’s website and SEDAR+ at sedarplus.ca with a reporting date\nof July 20, 2022.\n \n\n\n\n\n\n Technical Inf...