Radius Gold intersects 11.4 g/t Au and 1,150 g/t Ag over 1.52 m within a broader interval of 10.68 m grading 2.07 g/t Au and 389 g/t Ag in the La Peña vein at Holly
news release
May 3, 2022
Radius Gold intersects 11.4 g/t Au and 1,150 g/t Ag over 1.52 m within a
broader interval of 10.68 m grading 2.07 g/t Au and 389 g/t Ag in the La Peña
vein at Holly
Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius” or “the Company”) is pleased to
report additional drill results from Holly Property, Guatemala , operated by joint venture partner,
Volcanic Gold Mines Inc. Complete assays have been received for all previously pending drill holes. Full
results tables and additional maps and geological sections are available on the Radius website.
Highlights from recent drill results include:
La Peña vein Hole HDD-22-030 intersected 11 .4 g/t Au and 1,150 g/t Ag over 1.52m within a broader
interval of 10.68 m grading 2.07 g/t Au and 389 g/t Ag.
La Peña vein additional sampling of Hole HDD-22-022 reported 11.2 g/t Au and 522 g/t Ag over 1.53m
“The gold and silver discovery we have made at Holly is significant. The new high -grade intercepts
demonstrate continuity within the La Peña vein system. With final results in hand Volcanic is working to
complete a maiden resource calculation with the aim of showing the high value and minimal impact of
developing these res ources and the concrete benefits and sustainable employment for our local
communities,” stated Simon Ridgway, Chairman of Radius.
Drilling at Holly focused on extending the La Pe ña high-grade system at depth and along strike with a
goal of estab lishing a significant high -grade resource and improving understanding of the controls on
high-grade mineralization. The La Pe ña vein remains open in all directions. Several holes also cut high
grade gold in the Amber vein and Pino target at a shallow depth. The Amber vein, Pino veins, Alpha vein
and Jocotan splay targets all have significant potential and will be tested in future drill programs.
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Figure 1: La Peña Long Section with AuEq x Estimated True Width
Table 1: Holly Project: Recent drill hole assay results (HDD21-022* new results from additional sampling)
DRILLHOLE FROM
(m)
TO
(m)
INTERVAL
(m)
Est. True
Width
GOLD
(g/t)
SILVER
(g/t)
Target
HDD-21-022* 199.77 201.30 1.53 1.39 11.20 522 La Peña
HDD-21-024 56.42 57.95 1.53 0.011 207 NE
HDD-21-025 no significant intercepts NE
HDD-21-026 127 130 3.00 2.33 0.41 23 La Peña
HDD-21-028 55.6 57.95 2.35 2.14 97 Peña splay
and 247.7 248.75 1.05 0.85 2.75 112 La Peña
HDD-21-029 7.62 10.67 3.05 1.17 344 Pino
HDD-22-030 7.62 14.3 6.68 1.92 3 Peña splay
Including 9.15 12.6 3.45 3.54 3 Peña splay
HDD-22-030 28.8 29.8 1.00 0.71 8.64 10 Amber
HDD-22-030 160.12 170.8 10.68 9.81 2.07 389 La Peña
including 161.65 163.17 1.52 1.40 11.40 1150 La Peña
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Future work
The Company’s JV partner, Volcanic Gold Mines Inc., is working on a maiden resource calculation and will
follow that with a preliminary economic analysis aimed to show that the high-grade La Pena vein deposit
could be mined from underground, causing minimal surface disruption. It is envisaged that truckin g of
high-grade ore to a nearby mill could minimise on-site processing and associated costs and impacts. The
strategy is to calculate an approximate value of the deposit and potential income and be able to offer
concrete benefits and much needed long term employment opportunities to the local communities. The
Company expects the Holly project can grow significantly through exploration, but at this time it is
important to define clearly the opportunity and potential impact of the project to all stakeholder s. We
plan to establish significant value at Holly for all the stakeholders.
Elsewhere in Guatemala the Volcanic is evaluating the land position optioned from Radius on in May 2020.
Several areas of significant promise have been identifie d and Volcanic is in the process of getting those
concessions granted and drill permitted.
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 28 years of mineral exploration experience and has prepared and approved the technical information
contained in this news release.
Quality Assurance and Quality Control
Industry standard procedures for diamond core drilling and analysis were followed. 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 were initially processed at a Volcanic Gold preparation facility. The half core
samples underwent primary crushing and split to produce a 250g sample under the supervision of a
company geologist and qualified person. The split sample was then air shipped to certified ALS
laboratories in Vancouver for further preparation and assay. All samples are fire assayed for Au and are
analyzed 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 routinely
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, Volcanic can earn a 60% interest in Radius’ Holly
and 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. In accordance with the Option terms,
Volcanic spent an initial US$1M on exploration within the 12 months of receiving the required drill
permits, which expenditures included 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 an exclusive righ t 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.
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Radius Gold Inc.
Radius has a portfolio of projects located in Mexico, United States and Guatemala 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
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, wi thout limitation, statements about the results of exploration work and future
plans at the Company’s Guatemala properties . 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, whether the planned exploration and analysis work at the Company’s Guatemala properties
will proceed as intended; 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 activitie s, 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 assumpt ions, beliefs, expectations and opinions of
management, including but not limited to: that th e 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
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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.