Radius Begins Drilling at Santa Brigida Silver-Gold Project, Mexico
Published : October 08, 2013
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Keywords :   Canada | G Mexico | Gold | Market | Mexico | Report | Silver |

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 8, 2013) - Radius Gold Inc. (News - Market indicators) (OTCBB:RDUFF) in pleased to report that drilling has started at the Santa Brigida epithermal silver-gold property located approximately 80 kilometres east-northeast of the city of Guanajuato in Mexico.

Radius is planning an initial 8-hole, 1,500m program with subsequent drilling to take place contingent on the results of this phase. Radius must complete 3,000m of drilling to exercise its option on the project.

Six targets have been selected for testing based on the results of a gradient array IP-resistivity survey. Most of these appear to be possible extensions of known mineralized veins in the Pozos area. All targets are located to the southeast of Pozos and Santa Brigida, in areas of caliche and soil cover where little to no outcrop is available, and little historical exploration/mining was done. Target maps are available on the Radius website at: www.radiusgold.com.

Artisanal-scale mining of surface outcrop is known to have occurred in the area from pre-colonial times. Reliable historical reports indicate that more modern, small-scale underground mining operations from the 1800s to 1926 produced over 40 million ounces of silver and 400,000 ounces of gold. The same reports indicate that 1.05 million tonnes was mined resulting in an estimated weighted-average grade of roughly 1,300 grams per tonne silver and 13 grams per tonne gold.

Mineralization is associated with two principal vein swarms, the Pozos system and the Santa Brigida system, each striking generally northwest with steep southwest dips. Historic production focused on high-grade ore shoots within hydrothermal quartz veins and surrounding altered wall rock. Historical production records indicate that individual operations mined mineralized shoots ranging from 5,000 tonnes to 300,000 tonnes in size, with average grades ranging from 200 g/t Ag to 2,500 g/t Ag and 2 g/t Au to 40 g/t Au. The richest shoot documented produced 300,000 tonnes grading 2,500 g/t Ag and 15 g/t Au.

The Agreement

Radius can earn a 100-per-cent interest in the project by covering outstanding property payments and by completing a 3,000-metre drill program within 12 months of the issuance of a drilling permit. Once Radius has completed the drill program, it will have 60 days to pay to the optionor US$700,000 to acquire the 100-per-cent interest, subject to a 2.5-per-cent net-smelter-return royalty.

Qualified Person

David Clark, M.Sc., P.Geo. (APEGBC), a Qualified Person as defined by National Instrument 43-101, has verified that the technical information contained in this news release is an accurate summary of the information provided to Radius by the optionor and is consistent with known historic records, and has approved its disclosure.

About Radius

Radius has been exploring for gold in Latin America for over a decade. The Company has a strong treasury as a result of exploration asset sales and is looking for joint venture or project acquisition opportunities across the globe. Please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com) for more information.

ON BEHALF OF THE BOARD

Simon Ridgway, President and CEO

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

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.



Radius Gold Inc.
Ralph Rushton
Director
(604) 801-5432
(604) 662-8829 (FAX)
info@goldgroup.com
www.radiusgold.com
Data and Statistics for these countries : Canada | Mexico | All
Gold and Silver Prices for these countries : Canada | Mexico | All

Radius Gold Inc.

DEVELOPMENT STAGE
CODE : RDU.V
ISIN : CA7504681007
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Radius Gold is a gold exploration company based in Canada.

Radius Gold holds various exploration projects in Guatemala, in Nicaragua and in Peru.

Its main asset in development is TAMBOR in Guatemala and its main exploration properties are EL PAVON, TREBOL and LA PATRIOTA in Nicaragua, BANDERAS and HB in Guatemala, 60 MILE in Canada, TLACOLULA in Mexico and RUBI PROJECT in Peru.

Radius Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 19.9 millions as of today (US$ 15.9 millions, € 14.0 millions).

Its stock quote reached its highest recent level on November 21, 2003 at CA$ 2.03, and its lowest recent point on December 05, 2008 at CA$ 0.04.

Radius Gold has 86 675 617 shares outstanding.

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Nominations of Radius Gold Inc.
5/8/2007Appoints New VP Exploration
Project news of Radius Gold Inc.
8/31/2012sells Interest in Guatemala Gold Property
8/14/2012Radius Gold closes sale of Nicaraguan Projects to B2Gold
5/9/2011(Banderas)Provides Update on Eastern Guatemala Gold/Silver District
3/19/2008(San Pedro) Options Its San Pedro Gold Project to Vannessa Ventures
2/28/2008(Estrella De Oro) Provides an Update on its Nicaragua Exploration Programs
2/11/2008(Tambor)Metallurgical Tests on Tambor Sample Achieve Gold Recoveries...
10/22/2007(Tambor)Tambor Exploration Adit Returns Additional Intercept of 65.6...
9/6/2007(Tambor)Tambor Exploration Adit Returns 74.5g/t Gold over 3.4m
7/18/2007Exploration Adit at Radius's Tambor Gold Project Intersects ...
3/27/2007(Tambor)Begins Underground Exploration at Tambor
Corporate news of Radius Gold Inc.
6/14/2016Radius Gold Provides Property and Investments Update
5/11/2016Radius Gold Comments on Media Reports of Temporary Suspensio...
4/28/2016Radius Gold Announces Intention to Terminate SEC Reporting O...
2/1/2016Radius Gold Provides Update on Operations
4/23/2015Obtains Shareholder Approval of Proposed Change of Business
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3/26/2015Early Warning Report
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2/25/2015Radius Gold provides update on proposed Change of Business
1/7/2015Radius Gold Proposes Change of Business to Investment Issuer
1/7/2015IIROC Trading Halt - RDU
11/6/2014Early Warning Report
9/2/2014Radius Commences Drilling at Blue Hill Gold Project, Idaho
7/14/2014Radius Options Blue Hill Gold Project, Idaho From Otis Gold ...
10/8/2013Begins Drilling at Santa Brigida Silver-Gold Project, Mexico
5/24/2012Extends Warrants
12/3/2011Radius Gold Announces Shareholder Approval for Spin-Out
7/13/2011Defines Anomalous Au-Hg-Sb-As-Tl in Soil/Stream Sediment Sam...
7/7/2011Completes $3.66 Million Private Placement
6/6/2011Drilling has commenced at Radius' Sixty Mile Project, Yukon ...
5/27/2011Plans Spin Out of Yukon Assets
5/16/2011Samples 58.26 g/t Au and 1,937 g/t Ag over 5.1 m at Pino Zon...
4/12/2011Exploration Underway at Radius' Sixty Mile Project, Yukon Te...
11/1/2010Exercises Option on Sixty Mile Claims, Yukon
5/9/2008Starts Drilling in Nicaragua
4/7/2008 Provides an Exploration Update
11/14/2007 Acquires Sediment-Hosted Gold Project in Peru
10/17/2007Update on Nicaragua Exploration Programs
9/25/2007Commences Exploration at the Rubi gold - silver Property, Pe...
8/30/2007President, Simon Ridgway, Interviewed by WallSt.net
8/28/2007signs option to acquire the Rubi gold - silver property, Per...
5/29/2007announces initial sampling results from its Trébol property,...
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