Radius enters binding exclusivity for Tierra Roja Copper Project, Peru
news release
September 9, 2024
Radius enters binding exclusivity for Tierra Roja Copper Project, Peru
Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius” or the “Company”) is pleased to
announce that it has a binding exclusivity with an option to acquire a compelling exploration-stage copper
porphyry project located in Peru.
The Tierra Roja project is located in the Atacama Desert, southern Peru, at an elevation of 1700masl and
20km from the coast and Pan American highway. The project site is accessible by road and 4x4 tracks.
Tierra Roja is located at the northern end of the southern Peru coastal copper belt which hosts some of
the largest copper mines in the world. Peru is the second largest copper producer globally (Figure 1).
Tierra Roja covers 600 hectares and the core of the property hosts an 800 meter diameter circular anomaly
with wide -spread ferruginous soil crust developed over strong clay, sericite and silica alteration.
Mineralization is hosted in a multi -phase intrusive complex. There has been no drilling or formal
exploration, but where the underlying owner cut road access with a bulldozer, breaking the ferruginous
soil crus t has exposed widespread oxide copper mineralization covering an area of 800m x 600m.
Approximately 600 systematic rock chip samples have been collected by the project owners and analyzed
in a Peruvian mine laboratory (non-certified). Radius is in the process of verifying the validity of the historic
sampling and completing legal and social due diligence.
Bruce Smith, Radius Gold President and CEO, commented: “Having recently completed a due diligence site
visit in Peru, I am very impressed by the Tierra Roja project. It has all the right indicators to make a
significant copper discovery. It has scale, the right alteration features and abundant copper oxides in
outcrop. There are no people or communities living on or near the site, and is an easy access, low -cost
exploration target , in one of the world ’s most prolific copper producing districts . We look forward to
completing an option agreement and commencing exploration.”
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Figure 1. Tierra Roja project location, at the northern end of the Southern Peru porphyry copper belt :
Figure 2. High grade copper oxide mineralization hosted in intensely altered intrusive exposed in bulldozer cut:
• Located in a prolific geological
copper belt that includes projects
in exploration, development, and
operating copper mines.
• Oxide projects offer potential
advantage of building low-cost
heap-leach, open pit-mines.
224Mt @ 0.29% Cu
construction
486Mt @ 0.41% Cu
construction
4.6Bt @ 0.3% Cu
construction
1.3Bt @ 0.49% Cu
construction
4.8Bt @ 0.36% Cu
construction
408Mt @ 0.4% Cu
construction
2Bt @ 0.53% Cu
construction
Mine proven and probable reserves
construction
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Figure 3. Copper oxides exposed beneath ferruginous (iron rich) soil crust in small creek bed. Note above the
exposed mineralization the copper is not visible in the desert soil crust:
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’ Qualified
Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith
has reviewed and approved the technical information contained in this news release.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico and Guatemala utilizing partnerships where
appropriate to retain the Company’s treasury. Management is seeking out additional investment and
project acquisition opportunities across the globe. Radius is a member of the Gold Group of companies,
led by Sim on Ridgway. You may find more information on Radius Gold at www.radiusgold.com or
www.sedarplus.ca.
ON BEHALF OF THE BOARD
Simon Ridgway
Executive Chairman
Symbol: TSXV-RDU
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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
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TSX Venture Exchange) 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 Company’s plans for its properties. Often,
but not always, these forward looking statements can be identified by the use of words such as “estimate”,
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Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company to be materially different from any results,
performance or achievements expressed or implied by forward -looking statements. Such uncertainties and factors
include, among others, changes in 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 exploration and development activities, estimation of mineral resources and the geology, grade and
continuity of mineral deposits; unanticipated costs and exp enses; and such other risks detailed from time to time in
the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on
SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those described in forward-looking statements, there may
be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of
management, including but not limited to: that the Company’s stated goals and the planned exploration and
development activities at its properties will be achieved; that there will be no material adverse change affecting the
Company or its properties; and such other assumptions as set out herein. Forward -looking statements are made as
of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as
a result of new information, future events or results or otherwise, except as required by law. There can be no
assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on
forward-looking statements.