NR RGI 4
Radius Gold Inc. ("Radius") is pleased to provide an update on its exploration activities in Nicaragua, Guatemala and Mexico. Highlights of Radius's active programs include:
- Meridian Gold Inc. continues its drilling at the Natividad (formerly known as El Pavon) project in central Nicaragua. 21 holes completed to date, assays pending;
- Gold in quartz veins discovered during follow-up prospecting on Radius' ground near the historic Golden Triangle mining camp in north-east Nicaragua.
- Exploration work continues at San Pedro project in central Nicaragua.
- Glamis Gold Ltd. cuts 3.0m @ 36.5 g/t Au and 274 g/t Ag at Banderas project, southern Guatemala. Additional drilling planned for mid-2005;
- Prospecting work to commence in early June in southern Mexico;
Radius' joint venture partner, Meridian Gold Inc. ("Meridian") has completed 21 diamond drill holes at Natividad for a total of roughly 2,500m of drilling. Drilling has so far focused primarily on Pavon South. The final hole is in progress in the current round of drilling at Pavon South and the rig will then move to the parallel Brisas structure, 2km to the west, where 5 holes are planned, initially testing high-grade mineralization discovered near the south end of the structure.
Management anticipates that a second drill rig will be on site at Natividad in the next month when drilling will focus on the Pavon North and Central Zones Both rigs are man portable to reduce the environmental impact of the program. Radius expects to release the first results from the program towards mid-June.
Radius has assembled a package of concession applications covering prospective Tertiary volcanics south and east of the historic Golden Triangle mining camp in north-east Nicaragua which has produced over 5-million ounces of gold. Regional prospecting work completed late last year returned strong gold-in-sediment anomalies. Initial follow-up work which began in May 2005 discovered several semi-parallel structures associated with a felsic volcanic dome field, with visible gold in quartz veins seen in one continuous rock chip sample of quarzt vein and breccia. Follow-up work is continuing.
Exploration work continues at the San Pedro project. Prospecting crews continue to expand the size of the mineralized area to the south and east while detailed mapping of the volcanic stratigraphy and sampling continues in the central zone at the PM-1 and PM-1B veins. A limited geotechnical program is also underway to determine the dip of key structures on the property.
Radius has been acquiring a land position covering prospective areas in southern Mexico. To date, Radius has built a package of concessions and concession applications totaling roughly 540,000 hectares. The bulk of Radius' land package lies within Chiapas covering the extension of a prospective geological trend which strikes into Mexico from western Guatemala. These rocks host the Marlin deposit (Glamis Gold) in Guatemala and the Ixhuatan prospect (Linear Gold Corp) in Chiapas.
Exploration of Radius' ground will start with regional prospecting and stream sediment sampling. A team of geologists and prospectors is presently being mobilized to Mexico.
Banderas is a low sulphidation epithermal gold-silver vein system located in eastern Guatemala, roughly 30km from Glamis' Cerro Blanco project where a full feasibility study is underway, aimed at developing an underground gold mine. At Banderas, multiple veins are hosted by Tertiary volcanics within an altered and mineralized zone 1,500m wide and up to 3km long.
PilaGold Inc. completed two phases of drilling, totaling 2545m in early 2004. Best results from core included 18g/t Au over 1.5m and 332 g/t Ag over 1.6m. Grab samples of vein float have returned values from trace up to 374 g/t Au and 3,524 g/t Ag, indicating good potential for high grade shoots. The source of the high-grade values has not yet been identified by drilling.
In late 2004, Radius reacquired the property following the merger between Radius Explorations Ltd and PilaGold Inc. It was subsequently joint ventured to Glamis Gold Ltd. In late 2004, Glamis began a limited reverse-circulation (RC) drilling campaign to test targets accessible from existing roads. Work performed during November and December 2004 consisted of drilling six RC holes for a total of 1,141m of drilling, a limited soil-sampling program, re-logging of selected core holes, geologic mapping and construction of regularly spaced cross sections.
The results of Glamis' drilling included hole BRC-04-024, drilled on the RAT zone, which intersected 9.5m @ 12.4g/t Au + 95g/t Ag from 165.0m to 174.5m downhole, including 3.0m @ 36.5 g/t Au and 274 g/t Ag from 167.0 to 170.0m associated with massive or semi-massive quartz veining within a moderately to shallowly, southwest-dipping zone. All other intercepts returned less than 1.5 g/t Au. A drill collar map showing the locations of all holes drilled by Glamis is available on Radius' website (www.radiusgold.com). The intercept is approximately 300m southeast along strike from PilaGold's drilling on the M28 zone which returned a best intersection of 2.7m @ 6.8 g/t Au + 95 g/t Ag.
Glamis have informed Radius that they will be meeting with the local community to discuss the next stage of drilling at Banderas which they are planning for June of this year.
Peter Thiersch, M.Sc. P.Geo. was the Qualified Person as defined by National Instrument 43-101 responsible for the design and management of PilaGold Inc.'s 2004 Banderas exploration program. The geological and assay data reported in this news release was communicated to Radius by PilaGold. Radius has not independently verified the assay or geological information.
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 release from Glamis Gold's drilling at Banderas are an accurate summary of the information provided to Radius by Glamis. All widths are core widths, and not true widths.
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
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You can view the Next News Releases item: Mon Jul 25, 2005, Radius releases first Natividad drill results
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