Business
Radius Revisits Banderas & Holly Projects
Radius Revisits Banderas & Holly Projects
About this update from Radius Gold Inc.
[{"type":"text","content":"\n\n\n\n Apr. 29, 2010 (Canada NewsWire Group) -- Radius Gold Inc. (TSX-V: RDU) - Radius Gold is pleased to announce that it has reactivated its Banderas & Holly projects in eastern Guatemala. Radius discovered and drilled these gold-silver projects between 2002 and 2004 when gold and silver spot prices were close to their record lows. However, recent discoveries in the region underscore the potential of the district and have lead Radius' technical team to review the geology and the results obtained by the previous work. Upon review, and with the present gold/silver price in mind, management feels that these projects warrant a significant investment in further drilling.\nAt Banderas, Radius completed 2 phases of drilling in 2003 and 2004 (see Radius news releases dated December 3, 2003 & April 3, 2004). The drilling was successful in confirming continuity of gold-silver mineralization both along strike and at depth on at least two of the targets tested:\n\n\n >\n\n\nThe data review also showed that some significant gold-in-soil anomalies reflecting possible strike extensions to mineralization were never drill tested. The area between the 2 projects which contains strike extensions of key structural features that may be controlling the mineralization, has seen some initial prospecting but no significant follow-up.\nRadius has therefore restarted work at both projects with renewed prospecting and data compilation underway ahead of a planned drill program in summer 2010 to test known and newly discovered veins down dip. Infrastructure near both projects is excellent and they can be reached after a 45 minute drive up into the hills surrounding the eastern Guatemalan town of Chiquimula.\nSimon Ridgway, the President of Radius, commented: "Our review of the historic exploration drilling, and observations from recent site visits by management and consultants, have highlighted real potential that did not exist in the past when precious metal prices were lower and before the recent Escobal high grade silver discovery located just west of Holly and Banderas. It is clear that there is excellent potential at depth and further exploration along strike of key anomalies is warranted. We are putting a project team in place and I look forward to reporting on progress from the project during this year's field season."\nHighlights of the...