VANCOUVER, Dec. 6 /PRNewswire/ - Radius Gold Inc. (TSX-V: RDU): Simon Ridgway reports from Guatemala that Radius' diamond drilling program at the HB project is proceeding well with 4 holes completed to date; hole 5 is underway. As of December 2nd, approximately 500m of core had been drilled of a planned 10,000m program.
All holes to date have tested the Pyramid Hill zone, which is a 3km long northwest-striking zone of outcropping veins and vein breccias. Logging of the core indicates the first 4 holes have intersected the target structure cutting zones of silica flooding, quartz veins and vein breccias. Results from the drilling are not expected until the first quarter of 2011.
The HB property is an epithermal silver/gold prospect located in eastern Guatemala which was discovered by Radius in 2001. A recent review of Radius' previous surface results indicated the presence of high grade silver zones within the HB property that have never been tested at depth. Previous shallow drill campaigns on the property intersected moderate gold grades over narrow widths. However, this drilling did demonstrate the continuity of the mineralized structures and it is the intent of the present program to now test these structures at greater depths.
A priority of the current campaign will be to drill test the high-grade silver zones in light of the recent discovery of the world-class Escobal silver discovery, 50km to the west of HB and hosted in similar rocks.
For further information on the HB property and to review the results of the previous drill programs on the property, please refer to the project page on the Radius Gold web site at:
Roger Hulstein, BSc, 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 is responsible for the accuracy of the technical information in this news release.
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. In addition to its ATAC-belt claims, Radius also has two other 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
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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.
SOURCE Radius Gold Inc.