Coyote ProjectLocation and Access
The project is centered in northern Nevada's world class gold producing districts near the intersection of the prolific Carlin trend (estimated 90Moz gold production since 1965) and the Independence trend (estimated 8Moz gold production since 1981). The property is approximately 58 km northwest of Elko, NV. Located on the eastern side of the Independence Valley, the property has good access via paved roads and existing 4x4 roads/trails.
Radius has leased, with an option to purchase, a 100% interest in the Coyote gold property from Geologic Services Inc. ("Geologic"). The Coyote property consists of 128 unpatented mining claims located on Bureau of Land Management (BLM) lands.
On March 21, 2018, Radius announced an agreement to acquire an interest in the Coyote gold property in Elko County, Nevada. The Coyote Project is located in a world class gold producing district near the intersection of the prolific Carlin trend (estimated 90Moz gold production since 1965) and the Independence trend (estimated 8Moz gold production since 1981).
Radius completed at Coyote a 295 station CSAMT geophysical survey covering roughly 1.5km2 and combined soil geochemical and property wide geological mapping. The results of this work have defined compelling drill targets where co-incident rock and soil geochemical gold-antimony-arsenic-mercury anomalies occur within a surficial sinter hot spring environment. The CSAMT survey shows a large and coherent (950m by 250m) strongly resistive zone adjacent to and below the surface sinter that extends from surface to the bottom of the geophysical survey at 600m depth and is predicted to represent a sheeted vein system.
The main drill targets are the boiling zone estimated 200m below the surface sinters and where the system transitions from the Tertiary upper volcanic host rocks into the Jerritt Canyon Paleozoic meta-sediments (host of the 8Moz gold production from the Independence trend). The recent discovery of the Gravel Creek Gold-Silver Deposit (see note 1) by Western Exploration approximately 45km north of Coyote is an excellent analog where a hot spring sinter environment, anomalous geochemistry and geophysical programs led Western Exploration to target the Tertiary-Paleozoic boundary beneath the system with deep drilling resulting in discovery holes including;
With compelling drill targets defined (figure 1) at Coyote, Radius expects to have drill permission in the coming weeks and drill testing the targets at Coyote to commence before the snow arrives in Nevada.
Note 1. Information on the Gravel Creek Gold-Silver Deposit was published in New Concepts and Discoveries: Geological Society of Nevada 2015 Symposium, O.D Christensen and J.G. Cleary. Geology and Discovery History of the Gravel Creek Silver-Gold Deposit, Elko County, Nevada