Radius Gold Inc.
TSX.V: RDU     $0.25

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 September 01, 2004
Radius Gold Inc Drill First Holes At El Pavon Project

 NR RGI 2



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Vancouver. Radius Gold Inc. ("Radius") is pleased to provide an update on progress at its wholly owned El Pavon epithermal gold project in Nicaragua. Seven diamond drill holes were completed during July, all of which cut significant thicknesses of epithermal quartz vein, and two new mineralized structures have been identified by Radius's exploration around El Pavon.

Radius is permitting a +25,000m first stage drill program at El Pavon, scheduled to start later this year. As part of the permitting process, the Ministry of the Environment in Nicaragua allowed Radius to drill a small number of geotechnical holes at El Pavon on the Central and North veins to determine the general dip of main vein structure(s) to allow proper siting of access roads and drill pads.

The El Pavon North and Central zones have now been traced in outcrop and trenches for over 6km strike length. Seven holes have been drilled into the veins for a total of 749m of drilling. The core has been logged, cut and sampled and the samples are currently being assayed. Results are pending.

All 7 drill holes intersected the target veins as planned, showing continuity of the veins both along strike and down dip. True widths of the veins range from 4m to 16m, including zones of abundant quartz veining in between or adjacent to the main veins. These widths and quartz vein textures noted in the core are similar to those noted in surface trenching: multiple silicification and brecciation events are observed, indicating an active system with repeated episodes of sealing, hydrothermal brecciation and accompanying quartz deposition. In general, the veins have a steep westerly dip ranging from 65º to 77º, but may be locally vertical as in PADH-04.

A table summarizing the main drill intercepts is given below and a map showing drill collar locations is available on the Radius web site (www.radiusgold.com). All mineralized intercepts are downhole intervals, not true thicknesses.



Regional exploration work in the Pavon area has identified two new structures, named Jinji and Babaska. The Jinji structure can be traced in outcrop and float over 2km. It is similar to the Pavon South structure with variable widths from 2m. To the west, the Babaska has been mapped over a 4km strike in float and outcrop exhibiting both fine grained banded and chalcedonic quartz vein material.

Background

The El Pavon low sulphidation epithermal vein system was discovered by Radius in 2003. Quartz-adularia veins are hosted by a series of intermediate to felsic volcanic lavas, ignimbrites and tuffs. Radius' field teams have identified at least 6 potentially major veins or mineralized structures on the property within an area covering at least 10km by 4km. Most of the work to date has focused on the Pavon North and Pavon Central veins. Recent rock-saw check sampling returned best results of 40.7 g/t Au over 8.35m from trench TRP-2 and 8.1 g/t Au over 16m from trench TRN-1.

Qualified Person

Mr. Harmen Keyser, P.Geol., a Director of Radius, is the Qualified Person as defined in NI 43-101, and has verified that the results presented in this press release have been accurately summarized from the drill data provided to the Company from the field teams.

For further information on Radius Gold Inc., please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com).

The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.

ON BEHALF OF THE BOARD

"signed"
Simon Ridgway, President

Symbol: TSXV-RDU
Shares Issued: 50.6-million
 
 

You can view the Next News Releases item: Tue Sep 7, 2004, Radius Discovers New Gold Prospect at Nueva Guinea, Nicaragua

You can view the Previous News Releases item: Tue Jun 22, 2004, Radius upgrades high-grade trench results from El Pavon, Nicaragua

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