Radius Gold Inc.
TSX.V: RDU     $0.27

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 April 01, 2005
Drilling Underway at El Pavon Gold Project, Nicaragua

 


There are no 2015 news releases posted at this time.


There are no 2015 news releases posted at this time.


There are no 2015 news releases posted at this time.

NR RGI 1

Vancouver: Simon Ridgway, the President of Radius Gold Inc ("Radius") is pleased to announce that drilling has commenced at the El Pavon project in Nicaragua. The first core from the 2005 drill program was delivered on Thursday March 31st, 2005.

Meridian Gold ("Meridian") is the operator of the project, and anticipates completing approximately 27 holes on the Pavon North, Central and South veins in the first part of their commitment to drill at least 15,000m at Pavon. A single diamond drill is currently on site with a second scheduled to be added within the next month. A drill collar map showing the proposed first stage holes has been posted on the Radius Gold web site at www.radiusgold.com. It is important to note that - as with most drill programs - the current program will be reviewed and adjusted as it progresses and the final drill collar positions may differ from those shown on the map.

A major heliborne aeromagnetic and radiometric program is also scheduled to start. The program will focus on identifying new structures within the El Pavon joint venture project area.

Meridian has also informed Radius that it plans to change the name of the project from El Pavon to Natividad. Accordingly, all future press releases will refer to the Natividad drill program.

Background

The Natividad (El Pavon) low sulphidation epithermal vein system was discovered by Radius in 2003. In September 2004, Meridian optioned Natividad from Radius. The agreement gives Meridian the exclusive option to acquire a 60% interest in El Pavon by spending an agreed amount on exploration, completing a feasibility study within four years and paying to Radius a set amount per ounce of resource defined by the feasibility study for the 60% of the ounces Meridian will acquire (see release NR-RGI5, Sept. 23rd 2004)

Quartz-adularia veins at Natividad 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.


In 2004, Radius drill tested Natividad at five sites along the 6km strike length of the Pavon South, Central and North veins. 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. Full results from the drilling can be found on the Radius Gold web site (www.radiusgold.com).

Qualified Person

Nancy Reardon M.Sc., P.Geol. is the Qualified Person as defined in NI 43-101 responsible for verifying that the results presented in this press release have been accurately summarized from the drill data provided to the Company from the field teams and from Meridian Gold Inc.

Mark Hawksworth, M.Sc., P.Geol., an employee of Meridian Gold Inc., is the Qualified Person responsible for the design and management of the Natividad exploration program, including the current drill program.

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; OTCBB-RDUFF
Shares Issued: 53.3-million
 
 

You can view the Next News Releases item: Fri Apr 8, 2005, Mr. Laurie Sadler of Coastport Capital Reports Coastport Capital Announces San Ramon Drill Results

You can view the Previous News Releases item: Wed Dec 22, 2004, Radius & Coastport Provide Update on San Ramon Drilling, Nicaragua; Radius Starts Trading on OTCBB Under Symbol RDUFF

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