| ||Natividad North Drill Results (PDF, 480 kb)|
Natividad Central Drill Results (PDF, 468 kb)
Vancouver: Simon Ridgway, President of Radius Gold Inc. ("Radius") is pleased to report that as of September 30th, Meridian Gold Inc. ("Meridian") has completed a total of 4,430m of drilling in 27 holes in the second phase of drilling at the Natividad concessions in Nicaragua under its joint venture agreement with Radius. Drilling to date has tested the Manceras, Las Brisas, Ahumada, Pavon Central and Pavon North veins. Drilling is currently underway at the Las Vallas zone with approximately 1,000m planned.
Overall, results to date from the veins in the southern portion of the property, the Las Brisas and Ahumada veins, have been disappointing and have failed to extend the mineralized shoots intersected in last year's drilling. Strong veining with highly favorable textures was intersected in the drill holes but results generally failed to exceed 2 g/t gold, with a best intercept of 0.55m @ 9.17 g/t Au in hole NAT-06-049.
Results from the drilling at Pavon Central and Pavon North veins show more encouragement with a couple of significant intercepts, although here also deeper drilling shows a dramatic decrease in veining and gold grades. The best result from Pavon Central was 30.54m @ 5.84 g/t Au in hole NAT-06-060 from a vein/breccia zone that included 7.0m @ 11.26 g/t Au, and at Pavon North hole NAT-06-067 cut 20.2m @ 3.22 g/t Au including 4.52m @ 7.25 g/t Au.
Full results received to date are shown in the table below and collar locations and key drill sections can be found on the Radius Gold web site (www.radiusgold.com).
Hole No. From(m) To (m) Int (m) Au (g/t)
NAT06-044 No significant intersection
NAT06-045 No significant intersection
NAT06-046 169.45 172.30 2.85 4.25
NAT06-047 169.16 172.11 2.95 1.95
175.26 176.47 1.21 2.03
215.58 216.46 0.88 2.73
NAT06-048 229.83 230.54 0.71 6.53
NAT06-049 88.73 91.26 3.53 2.99
NAT06-050 48.76 54.86 6.10 2.00
59.43 60.96 1.53 3.00
NAT06-051 No significant intersection
NAT06-052 53.44 54.86 1.42 1.39
68.02 69.30 1.28 1.09
NAT06-053 No significant intersection
NAT06-054 No significant intersection
NAT06-055 120.40 121.25 0.85 1.13
NAT06-056 No significant intersection
NAT06-057 No significant intersection
NAT06-058 No significant intersection
NAT06-059 No significant intersection
NAT06-060 54.86 85.4 30.54 5.84
including 72.70 79.70 7.00 11.26
NAT06-061 42.67 44.08 1.41 3.12
NAT06-062 62.78 67.83 5.05 2.33
NAT06-063 No significant intersection
NAT06-064 41.60 42.67 1.07 1.10
43.60 48.26 4.66 2.68
49.57 54.25 4.68 6.87
NAT06-065 No significant intersection
NAT06-066 71.00 71.50 0.50 3.23
NAT06-067 29.60 49.81 20.21 3.22
including 29.60 34.12 4.52 7.25
NAT06-068 57.67 58.32 0.65 1.12
59.49 59.94 0.45 1.10
64.08 64.48 0.40 1.71
89.79 90.52 0.73 2.75
98.36 101.48 3.12 2.09
102.75 103.69 0.94 1.42
NAT06-069 67.23 69.93 2.70 1.09
73.12 73.77 0.65 1.34
75.89 76.39 0.50 1.92
77.27 80.37 3.10 1.03
85.48 89.57 4.09 1.33
Following the completion of drilling at Las Vallas and receipt of results, the management committee will be meeting to assess the results and evaluate the potential for a near-surface target. Results from Las Vallas will be released when they have been received from Meridian.
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).
Mark Hawksworth, M.Sc., P.Geol., an employee of Meridian Gold Inc., is the Qualified Person, as defined in NI 43-101, responsible for the design and management of the Natividad exploration program, including the current drill program.
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 by Meridian Gold Inc.
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
Simon Ridgway, President
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 53.3-million
You can view the Next News Releases item: Thu Nov 9, 2006, Radius provides update on its gold exploration programs
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