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Radius Gold Signs Agreement to Extend Plata Verde Exclusivity Agreement with Fresnillo plc for 6 Months and Continued Project Funding
(TheNewswire) July 19, 2023 – TheNewswire - Vancouver, British Columbia –...
About this update from Radius Gold Inc.
[{"type":"text","content":"Radius Gold Signs Agreement to Extend Plata Verde Exclusivity Agreement with Fresnillo plc for 6 Months and Continued Project Funding\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 July 19, 2023 – TheNewswire -\n \n \n Vancouver, British Columbia – Radius Gold Inc. (TSXV:RDU)\n(“Radius” or the “Company”) is pleased to announce that its\nwholly owned subsidiary, Geometales del Norte-Geonorte, S.A. de C.V.\n(“Geonorte”) has extended the term of its Exclusivity Agreement\n(the “Agreement”) with Minera San Julian, S.A. de C.V. (“Minera\nSan Julian”), a wholly owned subsidiary of Fresnillo plc\n(“Fresnillo”), for Radius’ 100% owned Plata Verde Project in\nChihuahua, Mexico.  The amended Agreement provides Minera San Julian\na 6‑month extension to its Exclusivity Period from July 7, 2023 to\nJanuary 7, 2024 to negotiate a Definitive Agreement that would include\nan option agreement to earn a 70% interest in the Plata Verde project.\n The amended Agreement also provides for interim funding by Minera\nSan Julian of US$206,000.  The initial Exclusivity Agreement with\nMinera San Julian was announced in the\n \n \n \n Company’s News Release dated\nJuly 12, 2022\n \n \n \n \n .\n \n \n \n \n \n Bruce Smith, President and CEO of Radius Gold,\ncommented:\n \n \n \n “To date, Fresnillo has been advancing technically and\nspending significant funds in the field in the last 9 months that\nincluded road building, drill pads, geological work and initial\nmetallurgical testing that yielded excellent silver recoveries from\nPlata Verde.  This amended Agreement provides the framework for both\nparties to negotiate a Definitive Agreement while continuing to fund\nthe project.  The Plata Verde project has never been drill-tested,\nand based on historical work and current data, the Radius team\nbelieves that the project has potential for a large scale silver\ndiscovery.”\n \n \n \n \n \n \n Highlights of the\nAmended Exclusivity Agreement are summarized below:\n \n \n \n \n \n \n \n Geonorte extends the Exclusivity Period\n \n \n \n with\n \n \n \n Minera San\nJulian to evaluate the project and negotiate a right to earn a 70%\nintere...