Radius Gold Inc.
TSX.V: RDU     $0.28

News

News Releases

 April 14, 2005
Radius Provides Update on San Pedro 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.


There are no 2015 news releases posted at this time.


There are no 2015 news releases posted at this time.

NR RGI 2

Vancouver, Radius Gold Inc ("Radius") is pleased to provide an update on the on-going exploration program at its 100%-owned San Pedro epithermal gold project in east-central Nicaragua. Recent trenching on the property has returned high grade gold results of 12.9g/t Au over 2.5m in trench PM1-A8, and 14.6g/t Au over 2.5m in trench PM1-B1. Highlights from Radius' recent sampling program are shown in the table below.

Radius' field crews discovered gold-mineralized quartz-adularia epithermal veins in three northwest-southeast trending zones within a 5km by 12km area. The PM Zone in the northwest has seen the most exploration, while the Las Minas and Feliz Zones to the southeast are at an earlier stage.

Epithermal gold mineralization occurs as massive quartz to banded quartz-adularia veins and associated quartz vein stockwork. Alteration minerals, vein textural evidence and exposures of silica scinter indicate that the outcropping veins are at a high-level in the mineralizing system. The gold-mineralized structures are hosted by tuffs in a caldera setting cut by regional northwest-southeast trending extensional faults, and intruded by a rhyodacitic dome field. Visible gold can be panned from most streams within the caldera and stream sediment sampling has returned a strong gold anomaly within and beyond the area of known occurrences. Mineralization is open in all directions.

At the PM Zone two parallel veins have been defined over a strike length of 1.8km. Recent reconnaissance trenching has returned higher grade results of 12.9g/t Au over 2.5m in trench PM1-A8, and 14.6g/t Au over 2.5m in trench PM1-B1. Soil sampling in this area has defined a consistent 300m wide +300ppb Au anomaly for 1,000m, open to the north. Pitting and trenching within the anomaly between the known veins has exposed additional 1m wide veins and a strong stockwork zone raising the possibility for bulk mineable target in this area. Follow-up of soil anomalies elsewhere within the PM Zone has led to the discovery of several new veins in the zone. Assay results are pending for recent sampling in the PM zone.

---------------------------------------------
Vein  Trench   Interval (m)   Au Grade (g/t)
---------------------------------------------
PM1   PM1-A1       6.9              1.7
---------------------------------------------
      PM1-A2       7.3              3.2
---------------------------------------------
      PM1-A4       6.6              1.1
---------------------------------------------
      PM1-A5       1.9              3.9
---------------------------------------------
      PM1-A8       2.5             12.9
---------------------------------------------
      PM1-B1       3.0              1.1
---------------------------------------------
      PM1-B2       6.6              1.5
---------------------------------------------
      PM1-B3       6.1              4.4
---------------------------------------------
      PM1-C1       2.7              2.0
---------------------------------------------
      PM1-D1       7.7              1.4
---------------------------------------------
PM2   PM1-B1       2.5             14.6
---------------------------------------------
LM    TR-LM-1      1.0              1.3
---------------------------------------------
Exploration of the Las Minas and Feliz Zones to the south of the PM Zone is at an early stage. Sampling of rocks in float and outcrop have returned gold grades ranging from trace to 38.2g/t Au outlining a 2km long, northwest-southeast trending mineralized structural zone at Las Minas. Trenching of the best results at the northwest end of this zone will start this month. Prospecting at the Feliz Zone has discovered 4 parallel veins in a 700m by 700m area partly ringed by rhyodacite intrusions. A grab sample of vein material from one of these veins assays 30.4g/t Au.

Radius' exploration personnel are currently on the ground at San Pedro completing mapping, prospecting, soil sampling, hand trenching, and chip sampling covering the known zones and possible regional extensions along and across strike. Radius has also applied for additional concessions in the area to cover possible extensions to the San Pedro system. Soil sampling is planned to cover the 60km2 area of known mineralization at San Pedro.

Background

San Pedro was discovered by Radius' field teams following up on local stories of old workings in the area. Exploration trenches, pits, tunnels are found in the PM Zone and, less commonly, in the Las Minas and Feliz Zones. There is evidence of a small stamp mill near the PM1-B vein. The condition of the workings suggests that the prospect was explored about 50 years ago.

Initial exploration found visible gold in stream sediments outlining a broad northwest-southeast trending zone. Subsequent Landsat interpretation Vein and float samples - associated with strongly anomalous stream sediment geochemistry - have since been collected along a 10km strike length. Radius' initial sampling of a series of old trenches at the northwest end of the zone were re-sampled by Radius in mid-2004, returning best results of 9.8g/t Au over 2.0m within a broader interval of 7.3m grading 2.9g/t Au. The work also indicated that there are several parallel veins suggesting the possibility of a bulk mineable target.

In the northwest, the PM zone consists of two principal vein sets, one (PM-1) trending roughly 140º and the other (PM-2) at 080º. There is a broad zone of anomalous gold-in-soil where the two trends intersect, and indication that the 080º zone continues and is open to the east. The existing soil grid will be extended to close the anomalies to the southwest and northeast as well as cover areas of newly discovered veins to the southwest and south.

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 are an accurate summary of the work completed to date by Radius at San Pedro.

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: Tue Apr 19, 2005, Radius gets 3m @ 12.2g/t Au from San Pedro Project, Nicaragua

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

You can return to the main News Releases page, or press the Back button on your browser.