Business
Radius JV partner Volcanic Gold Mines provides update on Holly Project, Guatemala
(TheNewswire) February 9, 2021 - TheNewswire - Vancouver, British C...
About this update from Radius Gold Inc.
[{"type":"text","content":"Radius JV partner Volcanic Gold Mines provides update on Holly Project, Guatemala\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n February 9, 2021 - TheNewswire -\n \n Vancouver,\nBritish Columbia - Radius Gold Inc. (TSXV:RDU\n \n )\n(OTC:RDUFF)\n \n is pleased to publish a progress report from joint\nventure partner, Volcanic Gold Mines Inc., on exploration work at the\nHolly project in Guatemala.  Volcanic’s exploration teams have been\nground proofing the extensive historic data collected by Radius Gold\nsince initial discovery in 2002, and the reprocessing and\nreinterpretation of the geophysical data acquired at Holly has led to\nwell defined drill targets. Drill permits are expected to be received\nin Febuary with drilling planned to commence before month end.\n \n \n The Holly property straddles the regional-scale Jocotan Fault which\nforms part of the Motagua Suture Zone, a 400km long and up to 80km\nwide deformation zone that separates the North American and Caribbean\ntectonic plates.\n \n \n At Holly, the Jocotan Fault forms a well defined east-west trending\nridge, separating older metamorphosed, foliated sedimentary rocks to\nthe north from much younger volcanic rocks to the south.  Exploration\nprograms conducted by Radius outlined a number of very high grade\nsilver/gold occurrences along the trace of the ridge.  Initial\ntrenching and drilling of these targets returned excellent results,\nhowever no follow-up work was done on the extension of these\nmineralized zones along the ridge and to the north.  These zones\nremain open for resource definition.  (see Figure 1 below)\n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n Figure 1: Exploration Targets and Jocotan Fault Zone\n \n \n Volcanic Gold reprocessed the data from IP surveys conducted on the\nproperty in 2002 and 2008, and the updated models have improved the\ndata quality.  Ground proofing of these targets has defined several\nexciting drill ready targets:\n \n \n \n \n - Two NW striking high-resistivity anomalies are identified. These\nanomalies appear to be associated with NW striking faults that host\nvery high-grade gold-silver veins:\n \n \n \n \n \n Selected trench samples results from\nHolly Ridge:\n \n \n \n \n \n \n Trench ID\n \n \n \n \n Interval m\n \n \n \n \n Au g/t\n \n \n ...