Radius Gold Inc. [RDU-TSXV; RDUFF-OTC] reported results from the El Cuervo target at the Amalia project, Chihuahua, Mexico. Drilling at El Cuervo is continuing, and the latest results show that Radius continues to define wide zones of mineralization on the largely untested structure.
New drill results include drill hole AMDD22-050 that returned 14.60 metres at 117 g/t silver and 0.92 g/t gold, including 0.9 metres at 1,185 g/t silver and 6.93 g/t gold, including 3.05 metres at 104 g/t silver and 1.32 g/t gold.
Hole returned AMDD22-051 17.35 metres at 253 g/t silver and 1.11 g/t gold, including 0.60 metres at 1,510 g/t silver and 2.52 g/t gold, including 7.60 metres at 414 g/t silver and 2.10 g/t gold, including 1.15 metres at 637 g/t silver and 10.70 g/t gold.
AMDD22-052 returned 11.80 metres at 450 g/t silver and 1.31 g/t gold, including 2.10 metres at 1,577 g/t silver and 2.27 g/t gold. AMDD22-053 lost hole, no assays submitted. AMDD22-054 had no significant intercepts.
All drill holes have been collared from two platforms with the holes fanned out testing approximately 350 m of strike extent and 300 m depth. The El Cuervo structure remains open to expansion along strike and to depth, and so far, has been tested by 12 drill holes for a total 4,752 metres. Assay results for holes AMDD22-055 to AMDD22-057 are still pending.
“The latest results at El Cuervo further demonstrate that multiple structures at the Amalia property contain significant wide zones of gold and silver mineralization. We are excited to continue adding to the large developing potential at Amalia with ongoing drilling at El Cuervo,” commented Bruce Smith, president and chief executive officer.
Under an option agreement of June, 2018, Pan American Silver Corp. [PAAS-TSX, NASDAQ] has an option to earn up to an initial 65% interest in the Amalia project by making cash payments to Radius totalling US$1.5-million (of which US$800,000 has been received) and spending US$2-million on exploration over four years. Pan American may earn an additional 10% by advancing the property to preliminary feasibility.