(via TheNewswire)
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
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 the 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.
Figure 1. Tropico drill plan view
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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
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
Figure 7. TDD-002 at 168m to 174m: Banded chalcedonic quartz vein.
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About the Tropico Target
The Tropico targetis defined by surface mapping and geochemical sampling, outlining a sinter and silicified breccia with a strong gold and mercury geochemical signature (see news release,
Location
The Tropico target is located 30 km northwest of
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,
Radius entered into an option agreement with local claim owners to acquire 100% of the property in
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
Technical Information
Bruce Smith,
Radius has a portfolio of projects located in
ON BEHALF OF THE BOARD
Bruce Smith
President and CEO
Symbol: TSXV-RDU
Contact: Bruce Smith
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: info@goldgroup.com
Website: www.radiusgold.com
Neither the
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 at the Company’s projects. 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 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 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.sedarplus.ca. 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 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.
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