VANCOUVER, April 13 /PRNewswire/ - Radius Gold Inc. (TSX-V: RDU) is pleased to report that planning is well underway for the 2011 exploration program over its Scarlet East and West claim blocks in the Rackla Belt, in central Yukon and exploration is expected to start mid-year. With the on-going definition of this potentially world-class belt of Carlin type gold deposits, Radius' management regard the Company's Rackla program as a top priority for 2011.
ATAC has discovered a cluster of Carlin-type gold deposits and occurrences. Mineralization in their Osiris Target appears to share many of the characteristics of Carlin-type gold deposits, including similar alteration assemblages and association with the low temperature arsenic sulphides, realgar and orpiment. Host rocks are two, 150m to 250m thick limestone debris flow and turbidite units, referred to as the Osiris and Isis Horizons, which occur within basinal silty mudstones. ATAC's drilling at Osiris returned a highlight of 31.13 m @ 9.26 g/t Au approximately 10km northwest of Radius' Scarlett East claim block.
Radius' Scarlet properties consist of 550 claims in 2 blocks covering prospective stratigraphy along the northern and southern edges of ATAC's claim block. Scarlett East lies on the southeastern end of ATAC's claims and potentially covers the extension of the structure controlling the mineralisation. The Scarlett West claim block lies about 30km west of Osiris, roughly midway between ATAC's Osiris and Ariana targets.
Both properties will be targeted with geochemical surveys (stream sediment, soil and rock sampling), airborne geophysics (magnetic and radiometrics) and geological mapping as early as possible in the summer season. The first stage of exploration is expected to take approximately 6 weeks.
Elsewhere in west-central Yukon, Radius has staked the Face property covering anomalous stream sediment samples which have a Carlin (ATAC) - type stream sediment signature. These claims are underlain by carbonate rocks similar to those rocks that host the Osiris discovery.
Exploration will also be carried out on claims staked late in 2010 located between the Sixty Mile and Ten Mile properties (under option to Solomon Resources Limited). This target covers a portion of the historic Matson Creek placer camp, a northeast trending lineament and is underlain by Carmacks volcanic rocks.
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' Yukon 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
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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.
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SOURCE Radius Gold Inc.