| ||Vancouver, Canada: David Cass, Vice-President of Exploration, for Radius Gold Inc. (TSX-V: RDU) is pleased to provide a brief update of recent progress on the Company's exploration programs in Nicaragua, Mexico, and Peru. Further details on all projects can be found on the Radius Gold website at www.radiusgold.com.|
Radius has field crews on the ground in three countries: Nicaragua, Peru and Mexico. The Company intends to carry out preliminary drill testing of several of its Nicaraguan projects, including Trebol, in the coming months.
Management is pleased to report that work is underway again at Trebol following a long delay due to the damage in the area caused by Hurricane Felix in September of 2007. Epithermal gold mineralization at Trebol is associated with dipping zones of quartz veinlet stockworks, massive to sugary fine-grained silica, quartz veins and breccias hosted in altered volcanic rocks, with comb-textured amethyst appearing as a late phase infilling vugs.
Seventeen trenches have now been completed over a series of low-lying silicified ridges that define an altered and mineralized zone with a strike extent of at least 6 kilometers. Assay results from Trenches 14, 15, 16 and 17 have recently been received:
- Trench 14 -- 22m at 0.57 g/t Au, including 6m at 1 g/t Au
- Trench 15 -- 33.8m at 3.4 g/t Au, including 15m at 6.1 g/t Au
- Trench 16 -- 13m at 0.19 g/t Au
- Trench 17 -- 20m at 0.87 g/t Au
Trench 14 is located approximately 360m NE of Trench 4 which previously reported 35.2m at 4.9 g/t Au, including 17.6 g/t Au over 8.35m. Trench 15 is located 145m south-southwest of Trench 2 which previously reported 10.4m at 1.3 g/t Au. Trench 16 is roughly 190m southwest of Trench 4 and 510m east-northeast of Trench 3 which averaged 30m at 1 g/t Au. Trench 17 is located 190 east of Trench 14. An up-to-date trench location map can be found on the Radius website www.radiusgold.com.
These new results appear to confirm the observation that gold grades are generally consistent within each trench but average values vary from trench to trench over the strike length of the zone. The trenches dug to date range from 6 to 35.25m in length and are widely spaced. Trench locations are determined largely by the presence of quartz float and rare surface outcrop. All trenches generally start and end in altered and mineralized rock. The extent and genesis of the mineralized system is as yet unknown.
A detailed soil geochemical survey is underway and existing trenches are being extended to better define the surface widths of mineralization and the controls and distribution of the higher grade mineralized zones across each section. The geology of Trebol and the controls on distribution of mineralization remain poorly understood due to thick vegetation cover.
Estrella de Oro
An exploration team is also working at the Estrella de Oro property, located 17km west of Siuna, near the historical Bonanza District in north-central Nicaragua, completing trenching and soil geochemical surveys.
Radius' concession at Estrella de Oro comprises 46,000 hectares and covers an historic gold mining operation. Nine trenches have been excavated along Cerro Estrella ridge to date (results from the first 4 trenches were reported in Radius' press release 28 February 2008.) Highlights of additional trenching include 1.5 m @ 5.3 g/t Au from Trench 10, located in-between Trench 2 and Trench 3.
The work is helping define the strike extent of a series of parallel, gold-bearing quartz veins/shoots which appear to be complicated by local faulting. Thick colluvial fill was also encountered in several trenches. An up-to-date trench location map can be found on the Estrella de Oro project page on the Radius website www.radiusgold.com
La India Norte
This property is located in the north-eastern part of the historic La India gold mining district, approximately 120 km north of Managua. Initial trench sampling returned low to moderate grade gold results over significant widths. Radius' exploration model suggests that significant potential for gold-bearing epithermal veins may exist at deeper levels. Targets include high-grade veins vertically below stockwork zones similar to those mined at lower elevations in the La India Camp, and near-surface bulk-tonnage stockwork mineralization.
Radius is actively looking for a joint venture partner to advance this property. However it is likely that Radius will drill test this property within the coming months in the event that a partner cannot be found.
Tlacolula Property, Oaxaca
The 100%-owned Tlacolula Property is located 14km east-southeast of the city of Oaxaca, some 16km west of Linear Metal's Cobre Grande Cu-Mo-Zn-Ag skarn project and 30km northeast of the Fortuna Silver Mines' San Jose project. Previous sampling of stream sections and road cuts showed significant intervals of low-grade silver mineralization, including 21.5m at 130.8 g/t Ag. A total of 12 trenches have been excavated across a 670m strike length of calcite veining and argillic alteration. Results are pending. Checking of surrounding Aster alteration anomalies has identified areas of opaline silica, possibly indicating a very high level of preservation to the epithermal system at Tlacolula.
Oaxaca and Chiapas Regional
A regional structural and remote sensing interpretation was recently completed by an independent consultant. Regional exploration and ground acquisition is underway on favorable targets identified by the remote sensing work. Claims totaling 37,000 hectares are currently in application over areas where anomalous gold values (up to 825ppb Au) were received from stream sediment sampling.
The Artemisas property is an early-stage sediment hosted gold property located in the District of Chuquibambilla, Department of Apurimac, some 1,000km southeast of Lima, at an altitude of 4,700m. The project consists of 4 contiguous exploration concessions totaling 3,300 hectares. Gold mineralization is hosted within a sequence of Jurassic and Cretaceous-aged sediments. Hydrothermal breccias are developed as bedding-parallel mantos and along steeply dipping fault zones. Surface channel samples gave values from trace to 11.6 g/t Au over 2m.
An option and joint venture agreement was signed with Kingsgate Consolidated Ltd. in January 2008. Under the terms, Radius can earn up to 70% in the project by spending $2 million in exploration over a period of 3 years, with 50% of costs to be expended on drilling. Once Radius has vested its 70% interest, a joint venture will be formed where both parties fund their share of exploration on a pro-rata basis. If either party dilutes to less than a 10% interest, it will be converted into a 1% Net Smelter Royalty.
An additional 2,600 hectares has been staked covering similar prospective geology in adjacent ground.
Radius is currently in active consultation with the local communities in order to gain permission to access the property and begin the work program, which will comprise geological mapping and sampling, followed by drilling of best targets.
Elsewhere in Peru, Radius is undertaking regional target generation and evaluation of projects and opportunities.
Assay Protocol & Qualified Person
Sample preparation and analyses were conducted by CAS Laboratories in Tegucigalpa, Honduras. Samples were analyzed for Au, using a 30 gram pulp with Fire Assay AA, with gravimetric finish. Check assays are undertaken at Acme Laboratories in Vancouver. Radius carries out its own Quality Assurance / Quality Control protocol that involves the regular insertion of certified standards, blanks and field duplicates into the sample stream.
The scientific and technical information in this release was prepared under the supervision of Mr. David Cass, Radius's Vice-President of Exploration, who is a member of the Association of Professional Engineers and Geoscientists of British Columbia, and a "Qualified Person in accordance with National Instrument 43- 101.
Radius Gold is a well-funded, Canadian junior gold explorer with a portfolio of exploration properties in Mexico, Nicaragua, Guatemala, Ecuador and Peru. The Company's strategy is to build value for shareholders by the identification, acquisition and exploration of early-stage properties that show significant potential for the discovery of gold.
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 / Erin Ostrom
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 53.5-million
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