Radius Gold provides update on drilling at Tropico Project
news release
October 4, 2023
Radius Gold provides update on drilling at Tropico Project
Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius” or the “Company”) is pleased to
provide an update on drilling at its Tropico Project located in the Fresnillo mining district in Zacatecas,
Mexico.
The initial hole TDD-001, planned for 300m to traverse the Tropico target, encountered difficult drilling
conditions and was abandoned at 56m in a large brecciated fault zone . The hole from 19m to 56m is
intensely altered with clay, silicification, variable zones of hydrothermal breccia and sets of stockwork
veinlets with banded silica veins. Assay results from 18 samples returned 29m at 0.34 g/t gold from 24m
downhole with the final sample returning 0.6 g/t Au. Although recoveries have been low, the wide zone
of anomalous gold is encouraging given that Tropico is in the upper levels of a hotspring environment
and that the main ore bodies at Fresnillo 29km south of Tropico typically start 200m to 300m below
surface.
Radius now has two rigs on the property with drilling advancing , although at slower rates than
anticipated. Diamond drill holes 2 and 3 are in progress and advances to date are reported below (Figure
1). Reported intervals are down hole width, not true width as geometry is not yet fully understood.
Diamond drill hole TDD -002 was collared 25m west of TDD -001 and drilled at -550 directly under TDD-
001 using larger diameter PQ core. The hole is still in progress. Below 25m of soil cover the hole
intersected a 45m zone of epithermal alteration (similar to TDD -001) with clay, variable silicification,
brecciation and zones of veinlets with occasional banded vein textures. At approximately 80m the hole
entered a significant fault zone, with 30m of sheared, cataclasite (broken rock) hosted in finely bedded
mudstones and sandstones. The sediments are variably silicified, with quartz veinlets, and abundant
pyrite, both disseminated, fracture filling and veinlets. The abundant pyrite may be sedimentary and un-
related to gold mineralization. The hole has intersected several 1m scale irregular white epithermal
quartz veins with bladed quartz textures, including a 6.4m vein at 169m. TDD-002 is still in progress.
Diamond drill hole TDD -003 was collared on the west of th e Tropico breccia and drilled east at -650 to
scissor holes 1 and 2 at depth. TDD -003 was collared in silicified crackle breccia and has to date
intersected 80m of variably clay altered, silicified, and brecciated sediment. Significantly at 69m depth
the hole intersected a 13m zone of white banded massive epithermal veining and breccia. The hole is
still in progress.
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Figure 1. Tropico drill plan view
Core Photos:
Additional core photos are available at: https://radiusgold.com/projects/tropico/core-photos/
TDD-003
Figure 2. TDD-003 at 27m: 30cm of intensely silicified breccia
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Figure 3. TDD-003 at 66m: 10cm of banded chalcedonic quartz vein
Figure 4. TDD-003 at 69 to 71m: Banded chalcedonic quartz vein and breccia
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TDD-002
Figure 5. TDD-002 at 83m: Silicified cataclasite (faulted and crushed pelite sediment) with abundant
pyrite.
Figure 6. TDD-002 at 169m: 10cm Banded chalcedonic quartz vein
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Figure 7. TDD-002 at 168m to 174m: Banded chalcedonic quartz vein.
About the Tropico Target
The Tropico target is defined by surface mapping and geochemical sampling , outlining a sinter and
silicified breccia with a strong gold and mercury geochemical signature (see news release, March 21,
2023). The Tropico target is roughly oval shaped, 450m long by 250m wide orientated NNE. A CSAMT
survey defined resistive features that matched the surface geology, defining a target that starts at surface
directly below the outcropping silicification and extends to 800m depth at the maximum extent of the
survey. The resistive target is approximately 10 times more resistant than adjac ent host rocks (see news
release, June 7, 2023).
Location
The Tropico target is located 30 km northwest of Fresnillo city, Zacatecas, Mexico. The Fresnillo mining
district is one of the world's most productive epithermal systems and hosts the world's oldes t
continuously operating mines producing silver, gold, copper, lead, and zinc for approximately five
centuries, since 1554.
The district hosts over 150 veins, mantos and chimney deposits including +30 large scale ore producers
and it continues to deliver more, with recent discoveries that include the multi -million ounce silver and
gold producer, Juanicipio Project, a joint venture between MAG Silver and Fresnillo Plc.
Radius entered into an option agreement with local claim owners to acquire 100% o f the property in
March 2023 (see news release, March 21, 2023).
Quality Assurance and Quality Control
Drilling is carried out using PQ and NQ 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 1.5m, producing samples
of between 2 to 9 kg. Half -core samples are delivered to the ALS Geochemistry laboratory facilities in
Mexico. The samples are fire assayed for Au and are analysed for Ag and multi -elements using method
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code ME-ICP61 following a four -acid digestion. Overlimits are analysed 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 to ALS were returned within
acceptable limits.
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 30 years of mineral exploration experience and has prepared and approved the technical information
contained in this news release.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico and Guatemala which it continues to advance, utilizing
partnerships where appropriate to retain the Company’s treasury. At the same time, 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 Simon Ridgway. You may find more information on Radius
Gold at www.radiusgold.com or www.sedarplus.ca.
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 its Regulation Services Provider (as that term is defined in the policies of the
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 results of exploration work and future plans
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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
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others, whether the planned exploration work at the Company’s projects 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
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costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with
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Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opin ions of
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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
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