Radius Gold reports results and commencement of drilling at Holly property
news release
February 3, 2022
Radius Gold reports results and commencement of drilling at Holly
property
Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius” or the “Company”) is pleased to
report results received from two holes drilled in October 2021 at the Holly property, Guatemala by joint
venture partner, Volcanic Gold Mines Inc.
“We are pleased to see progress at the Holly property and look forward to pending assay results and the
commencement of additional drilling this month,” commented Bruce Smith, President and CEO of Radius
Gold.
2021 Drilling Summary
Drillholes HDD-21-024 and 025 were drilled on the potential northern extension of the La Peña vein
system, hosted in Paleozoic schistose rocks on the north side of the Jocotan fault zone. A trail of quartz
vein boulders, thought to be a combination of float and sub -crop, extended north downslope for over
500m. These two holes were drilled scissor under this boulder trail to confirm the northern extension of
the La Peña vein system. While apparent structural zones hosting weak mineralization were intersected
in both holes, with results up to 1.53m of 207 g/t Ag in hole 024, no significant gold mineralization was
returned from these holes.
With the continued drilling of the La Pe ña vein, Volcanic geologists have better defined the structure.
The vein’s strike and dip in relation to the topography would indicate the vein passes east of the quartz
float trail and drill holes HDD-21-024 and 025, and therefore, remains open and untested to the north in
the Paleozoic schistose rocks. However, apart from hole HDD-21-015 that cut 15.55m @ 7.67 g/t Au and
615 g/t Ag in the schistose rocks, no other holes have returned strong mineralization in this rock unit.
Results from holes HDD-21-026 to -029 are still pending. Like many companies in the sector, Volcanic is
suffering from significant laboratory turn -around times. To mitigate this, equipment has been shipped
into Guatemala in order for Volcanic to crush the drill core and surface rock samples. This allows Volcanic
to ship directly to the assay laboratory eliminating the long waits at the preparatory lab.
Upcoming Drilling Plan
Drilling will commence within the first week of February. The focus will be extending the La Pe ña vein
system to the south in the younger volcanics and sediments where hole HDD -21-023 cut 4.58m @ 79.84
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g/t Au and 5,053 g/t Ag, 200m south of Hole HDD -21-015 reported above. Volcanic will also target
mineralization down dip along the 200m strike so far established.
Drill holes are also planned at the El Pino vein where previous drilling intersected significant results up to
4.23m @ 4.0 g/t Au, 136 g/t Ag from veins and veinlets at much higher elevations. Drilling is also planned
at the undertested l arge Ipala structure where anomalous gold/silver has been defined in soil and rock
samples over several hundred meters.
Regional Exploration
Regional work continues to identify new target areas, especially along the Motagua Norte structural zone
where prospects continue to demonstrate visible coarse gold in stream sediments and in rock crushed in
the field and panned. The delays in laboratory turn around time have allowed Volcanic to return to this
basic method that generated the gold rushes of old. Results of this work are indicating that this is an
important target area that has been mapped over several kilometers. The contact of serpentinite bodies
with metamorphosed volcanic rocks appears to localize the quartz bearing fluids that are associated with
free gold yielding values up to 320 g/t Au.
Volcanic and Radius are working with environmental consultants to complete the studies needed to have
these concessions granted with Q1 2022.
Banderas Property
At Banderas Volcanic continues the effort to regain the social licence in order to continue with the
exploration work that generated excellent result previously. The communities at Banderas suffer from
significant poverty and unemployment, and a large percentage of the local population would like to see
us return, generate employment and assist with community development and infrastructure. Access
agreements are in place with the community covering the drill project, but further consultation and work
is required.
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 has 27 years of mineral explora tion experience and has prepared and approved the technical
information contained in this news release.
Quality Assurance and Quality Control
Diamond drilling at Holly project followed industry standard procedures for core drilling and analysis.
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 ge nerally 1m intervals, producing
samples of between 2 to 9 kg. Half -core samples are delivered to the internationally certified Bureau
Veritas Mineral laboratory facilities in Nicaragua where the samples are prepared. Assays are completed
by Bureau Veritas certified laboratories. The 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.
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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. Radius is a member of the Gold Group of companies, led by Simon Ridgway.
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
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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, the results of exploration work and future plans at the
Company’s 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 work at the Company’s 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 activities, estimation of mineral resou rces 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 pro file 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 statem ents, there may be
other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
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Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of
management, including but not limited to: that the exploration work at the Company’s properties will advance as
planned; 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.