VANCOUVER, Feb. 22, 2012 /CNW/ - Radius Gold Inc. (TSX-V: RDU) is pleased to provide an update on recent work completed by B2Gold Corp. ("B2Gold") at the Trebol joint venture project in northeastern Nicaragua. Highlights of their recent work include:
- Soils taken from Cerro Domingo have returned gold values in excess of 17 g/t.
- Trenching at Trebol East is yielding strongly mineralized intervals such as 44.9m of 1.09 g/t gold (trench 111).
- B2Gold has applied for 3 new concessions which were recently registered with the Ministry of Mines and have been confirmed as open, subject to comment by local municipalities.
- B2Gold is planning 2,000m of core drilling in 16-18 holes to test the new Trebol East targets.
Radius is pleased to note the excellent progress that B2Gold is making at Trebol and is looking forward to the start-up of the next phase of diamond drilling, which will begin to test the new Trebol East anomalies.
The new results show highly anomalous gold-in-soil values for samples taken over the Cerro Domingo occurrence with gold assays locally in excess of 17 g/t. The soil results clearly define an area of over 400m in length by 130m in width with Au-in-soil values mostly in excess of 1 g/t. Maps of these anomalies are available on the Radius Gold website at www.radiusgold.com.
Soil sampling from Trebol East has highlighted 3 zones of anomalous gold values that require drilling. The northernmost zone shows at least 400m of strike length with another smaller and lower grade zone to the south (likely faulted) of some 200m of strike length. Another zone, which is 150m long, was defined 400m further south. (See soil anomaly and trenching map on Radius's website.)
Trenching of the northernmost part of Trebol East shows good continuity of mineralization over approximately 250m meters of strike length. Stockwork and vein mineralization trends roughly north‐south and dips to the west. In addition, a short trench cut on a small knoll 100m west of this zone has yielded 12.5m of 0.76 g/t Au (trench 112). The zone continues to the south but may not be as continuous. Preparations are underway for the drilling at Trebol East.
|Trench||Interval (m)||Au (g/t)|
Similarly, the southernmost zone, which is about 200m in strike length, has also yielded some very good grades in the trenching. Trench TREB‐115, located 25 meters north of trench 102 (21m of 1.62 g/t Au), contained 13.7m at 1.20 g/t Au.
B2Gold is proposing to drill 2,000m of HQ core drilling in 16 to 18 holes to test the new Trebol East targets. Drilling is scheduled to begin in late February using a man-portable drill operated by Swiss Boring. Drilling will test the key soil anomalies described above. Nine holes are planned to test the northern zone over a strike of approximately 740m, including the gold anomaly in trench TREB-111. The remaining holes will test the anomalies at the southern end of Trebol East.
Mr. Roger Hulstein, B.Sc., P.Geo., is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the Company's Qualified Person as defined by National Instrument 43-101. Mr. Hulstein has verified that the technical information in this release is an accurate summary of the information provided by B2Gold to Radius; however, Radius has not independently verified the information provided by B2Gold.
Radius has been exploring for gold in Latin America for nearly a decade. It 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, and a number of 100% owned exploration plays, including the HB property in Guatemala. Please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com).
ON BEHALF OF THE BOARD
Investor relations: Jaclyn Ruptash
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 86.6-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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.
For further information:
on Radius and its properties, please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com).