| ||Simon Ridgway, the President of Radius Gold ("Radius"), is pleased to announce that on March 10th, underground work started on the Guapinol zone of the Tambor gold project in Guatemala. The main objective of the underground work is to expose high grade quartz-gold mineralization that was intersected in drilling in 2003. A map and cross section of the planned tunnel, and several photos showing the location and the progress to date will be posted shortly on the Radius Gold website at www.radiusgold.com . |
The Tambor Properties host an orogenic lode gold belt, discovered by Radius in 2000 and explored by Gold Fields under joint venture until 2004. Gold Fields drill tested the Guapinol, La Laguna, Poza del Coyote and Cliff zones and outlined a 43-101 compliant resource of 216,000 ounces of gold in inferred resources (2.55 million tonnes @ 2.64 g/t Au) and 57,800 ounces in indicated resources (456,000 tonnes @ 3.94 g/t Au) prepared by Chlumsky, Armbrust and Meyer LLC (CAM) of Lakewood Colorado (See Radius news release dated December 10th, 2003.)
The primary objective of the underground work is to better understand the main structural control on the quartz-gold mineralization and hence the potential to develop additional resources. Radius will develop a crosscut through the quartz body which gave the high grade intercept in hole PDD-03-033 (80.5g/t Au over 5.3m: see news release dated August 13, 2003). This will provide fresh exposure of the quartz allowing Radius's geologists to gain a better understanding of the orientation and continuity of the mineralization. The quartz lens intersected in PDD-03-033 is a blind occurrence which does not outcrop, and Radius's geologists therefore feel it is reasonable to assume that other blind lenses may occur.
The estimated distance from the adit portal to the target zone of high grade quartz is 205m. After intersecting the high-grade zone, the proposed development will step back 40m and a second tunnel will be driven parallel to the quartz lens, with two more crosscuts planned to intersect the lens approximately 30m to each side of the first intercept.
The CAM report on the Tambor project serves as an independent report prepared by a Qualified Person as defined by NI 43-101. The definitions of indicated and inferred resources conform to CIM guidelines as defined in CIM Standards on the Mineral Resources and Reserves Definitions and Guidelines, dated August 20, 2000. George Armbrust, PhD, a consulting geologist and a Registered Geologist with the State of Wyoming (PG-2903) is the QP responsible for the preparation of the technical report.
The geological and assay data reported in this news release was communicated to Radius by its joint venture partner Gold Fields Ltd., the operator of the Guapinol drill program. Radius has not independently verified the assay or geological information.
Gold Fields was responsible for the design and execution of the Tambor drill program and for the sampling and analytical Quality Control/Quality Assurance measures that were implemented. Samples were assayed by Inspectorate America Corporation in Reno, Nevada USA, an ISO 9002 certified laboratory, independent of Radius.
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 information provided to Radius by Gold Fields and CAM.
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
Investor relations: Ralph Rushton
Symbol: TSXV-RDU; OTCBB-RDUFF
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