Radius drills 4.58m @ 79.84 g/t Au and 5,053 g/t Ag, in the southern extension of the high grade La Peña vein at Holly Project, Guatemala
news release
October 19, 2021
Radius drills 4.58m @ 79.84 g/t Au and 5,053 g/t Ag, in the southern
extension of the high grade La Peña vein at Holly Project, Guatemala
Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) is pleased to report that results from drilling
in the south extension of the La Peña vein at the Holly property have returned bonanza high grades
including 4.58 @ 79.84 g/t Au and 5,053 g/t Ag. Radius has received final results from Holly drill holes
HDD-21-021 and HDD-21-023 which targeted the La Peña vein along strike to the south and HDD-21-022,
which targeted the vein to the north. The drill has moved over to Radius’s Banderas Property after the
termination of hole HDD -21-029 to allow the results of the Holly drilling to be received and the next
program of holes to be planned with full results in hand. The drill program is being conducted by joint
venture partner, Volcanic Gold Mines Inc., who can earn into 60% of the project by funding $7 million in
exploration.
Holly Highlights:
HDD-21-022 from 21.35m to 22.87m returns 1.52m @ 7.00 g/t Au and 48 g/t Ag
And 27.45m to 32.02m returns 4.57m @ 1.05 g/t Au and 14 g/t Ag
And 50.32m to 51.85m returns 1.53m @ 5.34 g/t Au
HDD-21-023 from 196.72m to 198.25m returns 1.53m @ 1.93 g/t Au and 171 g/t Ag
And 202.82m to 207.40m returns 4.58m @ 79.84 g/t Au and 5,053 g/t Ag
Including 204.45m to 205.70m returns 1.25m @ 289.50 g/t Au and 18,329 g/t Ag
The initial focus at the Peña vein system was to define the vein within the broad zone of the Jocotan fault
breccia, extending the mineralization down dip to the zone with consistent high grades that were
intersected in holes HDD-21-017 and 019. HDD-21-021 and HDD-21-023 were drilled to cut the Peña vein
to the south of the Jocotan fault zone. HDD -21-021 cut minor upper -level veining with weaker
mineralization including 1.18m of 0.19 g/t Au and 40 g/t Ag from 53.37 to 54.55m within felsic tuf fs.
Roughly 80m down dip, HDD -21-023 cut the structure hosted in laminated mudstones where the vein
returned 4.58m @ 79.84 g/t Au and 5,053 g/t Ag. This hole confirms the strike extent of the Peña vein to
the south and demonstrates that the inter-bedded volcanics and sediments are potentially good hosts for
high grade gold and silver mineralization at Holly.
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HDD-21-022 was drilled within the footwall of Peña and did not intersect the main structure. The
significant results from 022 are footwall splay veins off Peña. It appears some fault offsets made it more
challenging to extend mineralization to the north in the Paleozoic Phyllites, although results on holes HDD-
21-026 and 027 to the north are still pending.
The drill rig will be moving over to the n earby Banderas Property in the next few days and drilling will
commence promptly. Drilling will target the deeper extensions of the major gold-silver rich veins where
the source and potential convergence zones have never been tested.
Figure 1. La Peña Zone; Long Section:
Note: Reported intervals are drilled width. Estimated true widths are published in intercept table on website
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’s Qualified
Person as defined by National Instrument 43 -101 - Standards of Disclosure for Mineral Projects. Mr.
Smith has 27 years of mineral exploration experi ence and has prepared and approved the technical
information contained in this news release.
Quality Assurance and Quality Control
Volcanic Gold follows industry standard procedures for diamond core drilling and analysis. Drilling is
carried out using NQ and HQ size tooling. Drill core is cut in half using a rock saw with one -half of the
core then taken as a sample for analysis. Sample intervals are generally 1m intervals, producing samples
of between 2 to 9 kg. Half-core samples are delivered to the internationally certified Bureau Veritas
Mineral laboratory facilities in Nicaragua where the samples are prepared. Assays are completed by
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Bureau Veritas certified laboratories. The samples are fire assayed for Au and are analy zed for Ag and
multi-elements using method code ICP following a four-acid digestion. Overlimits are analyzed using an
appropriate method. Multi -element geochemical standards and blanks are rout inely entered into the
drill core sample stream to monitor laboratory performance . Quality control samples submitted were
returned within acceptable limits.
Terms of Guatemala Radius Gold and Volcanic Gold Mines option
Pursuant to an option agreement signed in May 2020 with Radius, Volcanic can earn a 60% interest in
Radius’s Holly an d Banderas projects by spending the cumulative amount of US$7.0 million on
exploration of the properties within 48 months from the date of the agreement. An initial US$1M must
be spent on exploration within the 12 months of receiving the required drill permits, which expenditure
will include a minimum 3,000m of drilling on the properties.
Following the exercise of the Option, Volcanic will enter into a standard 60/40 Joint Venture in order to
further develop the Properties. Volcanic has also been granted a n exclusive right to evaluate all other
property interests of Radius in Guatemala with a right to acquire an interest in any or all other such
properties on reasonable terms.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico, United States and Guatemala which it advance s
utilizing partnerships where appropriate in order to retain the Company’s strong treasury. At the same
time, management is seeking out additional investment and project acquisition opportunities across the
globe.
ON BEHALF OF THE BOARD
Bruce Smith
President and CEO
Symbol: TSXV-RDU
Contact: Bruce Smith
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: [email protected]
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward -looking statements within the meaning of
Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-
looking statements and include, without limitation, statements about the plans for exploration work at the
Company’s Guatemala projects. Often, but not always, these forward looking statements can be identified by the
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use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”,
“used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”,
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Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause
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general economic conditions and financial markets; the Company or any joint venture partner not having the
financial ability to meet its exploration and development goals; risks associated with the results of explorati on and
development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits;
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Forward-looking statements contained herein are based on the as sumptions, beliefs, expectations and opinions of
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