VANCOUVER, April 12 /CNW/ - Radius Gold Inc. (TSX-V: RDU) is pleased to
announce that the 2011 exploration program has commenced at the
Company's 100% owned Sixty Mile Project located North of Dawson City,
Yukon Territory near the Yukon/Alaska border.
In 2010 Radius made two bedrock gold discoveries while drill testing
various geological targets searching for the source of the extensive
placer gold that has been produced from the stream and river beds of
the Sixty Mile Gold District. These discoveries have been named "The
Graben Fault Zone" and the "Thrust Fault Zone" (see detailed
descriptions below). Both target areas have the size potential to host
very significant gold deposits, and it is the aim of this year's
exploration program to confirm the economic potential of these gold
The Graben Fault Zone
The Graben Fault Zone is an 8 kilometer long belt of strongly altered
Carmacks volcanic rocks associated with a northeast trending half
graben fault that juxtaposes these altered volcanics against a much
older belt of schistose rocks. Radius drilled two holes testing the
volcanic rocks proximal to the fault zone. Both holes returned highly
anomalous gold values over + 50 m intervals with narrower intervals of
potentially ore grade material (6.55 m @ 1.65 g/t Au). These were very
encouraging results for a first stage drill program.
The broad Sixty Mile river valley has been extensively placer mined. A
grid based auger drill program is presently underway designed to
collect bedrock samples beneath mined gravels and overburden for
geochemical analysis and alteration studies. Zonge Engineering &
Research Organization, Inc. has been contracted to carry out concurrent
Controlled Source Audio Frequency Magnetotelluric (CSAMT) and Induced
Polarization (IP) geophysical surveys.
A contract for a minimum 5000 m diamond drilling program has been signed
with Kluane Drilling Limited of Whitehorse. Drilling is scheduled to
commence on June 1 and with the results of the above studies in hand
management is confident we will have the tools to target the heart of
this extensive epithermal gold system.
The Thrust Fault Zone
The Thrust Fault Zone is located on the hillsides on the northwestern
side of the valley. Last year's program identified gold mineralization
in quartz veins and veinlets hosted by a package of brittle,
siliclastic metamorphic rocks that have been disrupted by a series of
thrust faults. Gold mineralization appears to be preferentially hosted
by the more quartz rich beds which are up to 30 to 40 meters thick,
with at least two mineralized beds present. Radius' geologists believe
that this mineralization is the source of the rich placer gold deposits
in the creeks which drain this hillside.
The target area has a strike length of 8 km and width of 3 km. Some
target areas defined during last year's extensive geochemical and
geophysical program will be tested this spring prior to the arrival of
a second drill rig to the property in August 2011.
Radius is targeting a substantial bulk tonnage gold system on the Thrust
Fault Target. Last year's drilling (4 holes) while successful in
discovering the source of the placer gold in the creeks, intersected
grades in the 0.3 to 0.5 g/t Au range across the thickness of these
beds (20 m to 40 m). This year the challenge is to find areas within
this mineralized package with at least double that grade, which would
indicate the economic significance of this discovery.
Roger Hulstein, a member of the Association of Professional Engineers
and Geoscientists of British Columbia and a Qualified Person as defined
by National Instrument 43-101, is responsible for the accuracy of the
technical information in this news release, and for overseeing the
design and execution of Radius' Sixty Mile exploration program.
Radius has been exploring for gold in Latin America for nearly a decade,
and has assembled interests in a portfolio of promising gold projects
throughout the region, including carried stakes in two small-scale
developing gold projects in Guatemala and Nicaragua. Radius also has
two 100% owned exploration plays, the HB property in Guatemala and the
Sixty Mile property in the Yukon Territory.
ON BEHALF OF THE BOARD
Simon Ridgway, President & CEO
Investor relations: Ralph Rushton / Erin Ostrom
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 79.8-million
Some of the statements in this news release contain forward-looking
information that involves inherent risk and uncertainty affecting the
business of Radius Gold Inc. Actual results may differ materially from
those currently anticipated in such statement.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Radius Gold Inc.
For further information:
For further information on Radius and its properties, please call toll free 1-888-627-9378 or visit our new web site (www.radiusgold.com).