Radius Gold acquires an option on high grade Gold - Silver Project in Chihuahua, Mexico
news release
June 22, 2017
Radius Gold acquires an option on high grade Gold - Silver Project in
Chihuahua, Mexico
Vancouver, Canada: Radius Gold Inc. (TSX -V: RDU) is pleased to announce that it has signed
a binding agreement with a private individual to option the 380-hectare Amalia Project which is
host to high grade epithermal silver-gold mineralization. The Project is located approximately
25 km SW of the historic Guadalupe y Calvo mi ning district in Chihuahua, Mexico. During due
diligence evaluation Radius geologists sampled bonanza grade outcrop containing 20.4 g/t Au
and 5360 g/t Ag from a 1.2m chip.
Amalia Project
The Amalia P roject is unexplored, with only minor historic a rtisanal-scale mining of surface
outcrop known. There is no known history of previous systematic exploration of the property .
Epithermal Au-Ag mineralization has been sampled by Radius in several veins, vein breccias and
disseminated zones over 3.5km of strike length and a 600m vertical interval following the trace
of a large regional fault zone.
At the main target area, known as Campamento , a 70-meter-wide zone of intense silicif ication,
and brecciation with massive and stockwork veining has been mapped at the contact between the
upper Rhyolite a nd lower Andesite volcanic sequence. Twenty-two rock chip samples were
collected by Radius at Campamento, from an area 250m x 70m. The samples ranged from 0.004
to 33.3 g/t Au and 1.4 to 288 g/t Ag. With results capped at 5 g/t Au, these samples averaged
0.75 g/t Au and 65 g/t Ag . The silica is chalcedonic banded and amorphous indicating a high
level within the epithermal system.
Approximately 700m along strike to the SE of Campamento, and 200m vertically below, Radius
geologists sampled the Guadalupe zone where intensely silicified, sulphide rich fault zones are
exposed in two historic workings separated by 120m. During the initial evaluation only two rock
chip samples were collected from Guadalupe zone:
AGU023 graded 20.3 g/t Au and 5360 g/t Ag over 1.2m
MX90439 graded 3.05 g/t Au and 476 g/t Ag over 1.3m
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The Guadalupe area is steep and bush covered with limited exposure, hence the extent of the
mineralized zone is not yet known. However, locating this high grade mineralized structure on
strike and below the high level silica system of Campamento is very encouraging.
Elsewhere along strike to the East and West of Campamento sampling has returned anomalous to
high grade results in veins and vein breccias both within the upper volcanic Rhyolite sequence
and within the lower Andesites. With Au-Ag mineralization occurring over a vertical interval of
600m in multiple targets over 3.5km strike length, Radius believes there is excellent potential for
a significant discovery at Amalia. Exploration will commence immediately. Maps and photos of
the Amalia Project will be available on the Company’s website.
The Agreement
Radius can earn a 100% interest in the Amalia P roject by making an immediate cash payment of
US$5000 (paid) and by completing staged payments over a period of 5 years totaling
US$845,000 cash and, subject to stock exchange approval, US$15,000 in Radius shares.
Corporate Update
Radius announce s that Bruce Smith , M.Sc. Geology, MAusIMM CP , has joined the Radius
Board. Bruce has 24 years ’ global exploration and mining experience, with 15 years in Latin
America focused on gold and silver exploration. He has participated in the discovery of several
gold deposits and led the exploration team that discovered the Chinchillas Ag -Pb-Zn deposit in
Argentina. Bruce has wor ked with Radius and Goldgroup companies since 1994 and the
Company is pleased to welcome him to the Board.
Qualified Person
Bruce Smith, M.Sc., MAusIMM CP, is a Qualified Person as defined by National Instrument 43 -
101 Standards of Disclosure for Mineral Projects. Mr. Smith has visited the Amalia P roject and
prepared and approved the technical information contained in this news release.
About Radius
Radius has been exploring for gold in Latin America for over a decade. The Company has a
strong treasury and is looking for investment and project acquisition opportunities across the
globe. Please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com) for more
information.
ON BEHALF OF THE BOARD
Simon Ridgway
President and CEO
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Symbol: TSXV-RDU
Contact: Simon Ridgway
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 which include, without limitation, statements about the Company’s exploration plans for
the Amalia Project; the Company’s business strategy, plans and outlook; the merit of the Company’s investments
and properties; timelines; the future financial performance of the Company; expenditures; approvals and other
matters. Often, but not always, these forward looking statements can be identified by the use of words such as
“estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”,
“detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”,
“remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and
similar expressions, including negative variations.
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, the Company’s plans for exploring the Amalia Project; 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
expenses; 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.sedar.com. Although the
Company has attempted to identify important f actors 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 exploration activities at the Amalia Project will
proceed as planned; that the Company’s activities will be in accordance with its public statements and stated goals;
that all required approvals will be obtained; that there will be no material adverse change affecting the Company or
its investments or 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 requi red 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.