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Drilling to date has confirmed that the broad area of boulder float with abundant visible gold and bonanza grade assay results discovered by Volcanic geologists is underlain by a serpentinite package, and that all of the colluvial boulders of quartz and schists bearing the high-grade gold values have likely moved downslope from a major structural corridor that the JV has named the
The Veta Madre Fault contains a wide quartz vein that has been known for some time, and where sampled, has returned relatively high silver and lead results but poor gold numbers. It is a massive vein, forming in places a vertical, impassable wall. Flute marks and slickensides on the vein show near-vertical fault movement. However, in the area uphill from the Mila quartz float field, the vein is not exposed. The drill program conducted to date has cut 6 m to 15 m of colluvium composed of quartz and schist float, bearing visible gold in places, before passing from this colluvium into a serpentinite package. With the drill data in hand it appears that the green schists and serpentinite contact is at the
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Map showing the extent of the colluvial fan of bonanza-grade gold mineralized quartz boulders at the foot of a broken section of the
This presents an exciting picture: the Motagua Norte project has geological similarities to the Motherlode and
As we previously reported, the Mila discovery presents an unusual challenge for exploration but an exceptional opportunity. The abundance of gold-mineralized quartz boulders covering the surface makes it difficult to map-out, measure and model the gold mineralized structures. Of approximately 420 rock chip samples collected at surface across the area over one hundred returned assays exceeding 10 g/t gold, including twenty-one of over 100 g/t gold and a maximum of 692 g/t gold. With widely distributed gold-bearing quartz at surface it is difficult to distinguish the in-situ quartz outcrop from boulder scree that has been locally transported downhill. In additionto the obvious quartz vein mineralization, gold has also been observedhosted within sericite altered and micro-veined schist with samples returning assay results of up to 94 g/t gold, indicating potential for significant wall rock mineralization.
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The Veta Madre Fault vein exposed in a 20-30 m cliff immediately west of the Mila bonanza-grade quartz boulder colluvium field. At this locality the Veta Madre Fault dips steeply to the north and bears fluting and slickensides indicating dip-slip movement.
“The Volcanic team continues its dedication to the project; the more we work the more we learn. This recent geological interpretation has significance for the belt as we see similar structural settings in many of the zones we have sampled along the belt.
The team is facing the challenge of working within communities where some have been persuaded by reports and information supplied by NGO’s that mining is bad. This challenge requires a constant effort to inform the community to counteract misinformation and erroneous assumptions. However, people want work, and they want to work in their own backyard and not be drawn by necessity to travel to
About the Motagua Norte project
The Motagua Norte project is a gold system hosted by schists of the Motagua suture zone, an east-west striking belt of metamorphic rocks that outcrops at the line of collision between the North American and
Volcanic Gold Mines has an option from Radius to earn a 60% interest in the Cirilo I exploration licence and other licences under applications and negotiation within the Motagua Norte project, as well as the
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
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1 Taylor, R.D., Monecke, T., Reynolds, T.J. and Monecke, J. 2021. Paragenesis of an orogenic gold deposit: new insights on mineralizing processes at the
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