Radius Gold intercepts 44 meters grading 12.38 g/t Au and 309.3 g/t Ag at Amalia Project, Mexico
news release
May 1, 2019
Radius Gold intercepts 44 meters grading 12.38 g/t Au and 309.3 g/t Ag at
Amalia Project, Mexico
Vancouver, Canada: Radius Gold Inc. (TSX -V: RDU) is pleased to announce the first r esults from the
second round of its diamond drill program at the Amalia Gold-Silver Project in Chihuahua, Mexico. The
program is operated by Radius and funded by Pan American Silver under a joint venture agreement.
The first hole of 2019 , AMDD19- 010, has intersected 44m grading 12.38 g/t A u and 309 .3 g/t Ag
including an 11m section grading 39.9 g/t Au and 323 g/t Ag. Estimated true width of the mineralized
zone is 34m.
Radius’s initial drill program at Amalia (see press release December 4 th 2018) tested the San Pedro
structural zone with 5 diamond drill holes, intercepting gold and silver mineralization in all 5 holes along
a 650m strike length. Hole AMDD18-009, the deepest hole, intersected 26m at 7.08g/t Au and 517 g/t
Ag, including 5m at 14.71 g/t Au and 1378 g/t Ag.
Hole AMDD19- 010 intersected the San Pedro structure approximately 65 meters down dip of the
intercept in hole AMD D18-009 (see Figure 1 below). Mineralization observed in both 009 and 010 is
hosted within an epithermal breccia and quartz sulphide stockwork vein zone located on or near to the
contact between overlying Tertiary rhyolitic ignimbrites and the footwall a ndesite volcaniclastics of the
Late Cretaceous Tarahumara Formation. Diorite dykes appear to be emplaced along the fault zone and
are associated with mineralization as depicted in Figure 1 below.
Drilling is currently ongoing at Amalia with holes in progress stepping out 100 meters along strike and + -
50m below known mineralization. At this stage 2000m of drilling is budgeted. Mineralization at San
Pedro is open in all directions. On strike from San Pedro, along the Amalia regional fault system, high -
grade gold and silver mineralization outcrops at intervals vertically 600m below San Pedro. Similar style
major epithermal mines of the Sierra Madre (e.g. Palmerejo, Pinos Altos, La Cienga) located in the same
regional volcanic belt as Amalia are known to have mineralization occurring over large vertical intervals
between 600 and 750m. To date the Radius / Pan American JV has tested to only a 200m vertical
component of the system and it is intended to follow the high -grade mineralization along strike and to
depth with further drilling.
-2-
Figure 1. San Pedro zone simplified geological section holes AMD18-009 and AMD19-010
Estimated true width of the mineralized zone in hole AMDD19-010 is 34 meters.
Selected core photos, maps and project data are available on Radius website: radiusgold.com/amalia.
The Agreement
Radius has granted to Pan American Silver Corp. the option to earn up to an initial 65% interest in the
Amalia Project by making cash payments to Radius totaling US$1.5 million (of which US$100,000 has
been received) and expending US$2 million on exploration over four years. Pan American may earn an
additional 10% by advancing the property to preliminary-feasibility.
-3-
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 participated in the reported drill program and prepared and approved the technical information
contained in this news release.
Quality Assurance and Quality Control
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 between 1m and
1.5m producing samples of between 2 to 9 kg. Half -core samples are delivered to the ALS Geochemistry
laboratory facilities in Chihuahua, Mexico. The samples are fire assayed for Au and are analysed for Ag
and multi-elements using method code ME -ICP61 following a four- acid digestion. Overlimits are
analysed using an appropriate me thod. Radius routinely inserts multi -element geochemical standards
and blanks into the drill core sample stream to monitor laboratory performance. Quality control
samples submitted to ALS were returned within acceptable limits.
Radius Gold Inc.
Radius has a portfolio of projects located primarily in the United States and Mexico which it continues to
advance, 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
Simon Ridgway
President and CEO
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 results of exploration work
and future plans at the Amalia Project ; the Company’s business strategy, plans and outlook; the merit of the
-4-
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 results of exploration work and future plans at 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 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 exploration activities at the Amalia Project will advance 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 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.