Radius Gold Inc.
TSX.V: RDU     $0.28

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 September 16, 2004
Radius Cuts 2.5m Grading 57.3 g/t Au at Pavon

 


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Vancouver, September 16, 2004:

Radius Gold Inc ("Radius") is pleased to announce the results from recent drilling at its 100% owned El Pavon project in Nicaragua. The results include best intersections of 16.8m grading 10.3 g/t Au and 5.8m grading 11.3 g/t Au from holes located 4km apart testing the same mineralized structure.

The Pavon vein system was recently drill tested at five sites along the 6km strike length of the Pavon South, Central and North veins. The purpose of the holes was geotechnical; to determine the general dip of the vein structures to allow proper siting of drill pads for a larger drill program which is currently being permitted by Radius. Full results from the drilling are shown in the table below and collar locations can be found on the Radius Gold web site (www.radiusgold.com).

The drill results reflect the overlying trench results with one important exception: PADH-1. This hole - which returned 11.3 g/t Au over 5.8m - was drilled at Pavon South where trench results have returned only modest grades. This demonstrates the potential for robust colloform banded quartz-adularia veins below weakly developed veining at surface, and may confirm that much of the exposed mineralization at Pavon South represents a high level of exposure of the epithermal system. The main implication of PADH-1 is that the entire strike length of the Pavon North and South veins must be systematically drill tested to identify the high grade ore bodies.
Table 1. El Pavon drill results (rounded to single decimals). 
         Silver assays pending
Hole Number   From    To   Intersection (m)   Au Grade (g/t)
------------------------------------------------------------
PADH-1        29.0   40.0       11.0               6.7
including     34.2   40.0        5.8              11.3
------------------------------------------------------------
PADH-2        69.2   70.0        0.8               5.8
------------------------------------------------------------
PADH-3        43.0   50.6        7.6               1.4
------------------------------------------------------------
PADH-4        50.0   52.3        2.3               1.1
------------------------------------------------------------
PADH-5        13.5   29.9       16.4               6.9
including     21.6   29.3        7.6              12.5
------------------------------------------------------------
PADH-5b        7.6   24.4       16.8              10.3
including     21.9   24.4        2.5              57.3
------------------------------------------------------------
PADH-6        52.7   64.3       11.6               2.2
including     57.3   58.3        1.0               7.3
------------------------------------------------------------
PADH-7        59.4   61.0        1.6               3.2
------------------------------------------------------------
*Recovery over mineralized interval
The results also demonstrate that there is little or no surface enrichment of gold grades. Grades from holes PADH-5 and 6 are almost identical to the overlying trenches (TRN-1 and TRN-2) and hole PADH-1 shows a substantial increase in grades at depth. In all cases, the best gold grades are found associated with well developed colloform banded quartz adularia veining. Although core recoveries were generally good in the mineralized zone, PADH-3 (49%) and PADH-5 (57%) were the exceptions.

Simon Ridgway, President of Radius, said: "We're very pleased with the outcome of the drilling, particularly the high grades in hole PADH-1 on Pavon South which was drilled under some pretty low grade material. This is telling us that we need to drill test all of the mineralized structures on the property regardless of the surface gold grades. That opens up the Brisas, Manceras, Las Valles and Astrid structures and the newly discovered Jinji and Babaska zones. We believe there's a lot of scope at Pavon and look forward to commencing the first stage 25,000 metre program which gets underway later this year."

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
50.6-million
 
 

You can view the Next News Releases item: Thu Sep 23, 2004, Radius and Meridian sign Agreement to Explore El Pavon in Nicaragua

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

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