Drilling has commenced at Radius' Sixty Mile Project, Yukon Territory
Published : June 06, 2011
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Keywords :   Canada | Gold | Gold Discovery | Guatemala | Nicaragua |

VANCOUVER, June 6, 2011 /CNW/ - Radius Gold Inc. (TSX-V: RDU) is pleased to report that drilling is underway at its Sixty Mile project in west-central Yukon, 75 kilometres west of Dawson City at the Canada/U.S. border. Five thousand meters of drilling are planned to test the epithermal gold targets in the Sixty Mile river valley.

In its 2010 exploration program Radius made two bedrock gold discoveries - the Graben fault zone and the Thrust fault zone - while 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. Both target areas have the size potential to host significant gold deposits, and it is the aim of this year's drilling to confirm the economic potential of these gold discoveries.

This first program will focus first on the Graben zone, an eight-kilometre-long belt of strongly altered Carmacks volcanic rocks associated with a northeast-trending half graben fault that juxtaposes altered volcanics against a much older belt of schistose rocks. An epithermal-style gold system was discovered in the 1980's in the altered andesites. In 2010, Radius drilled two holes testing the volcanic rocks proximal to the fault zone. Both holes returned highly anomalous gold values over +50-metre intervals with narrower intervals of potentially ore-grade material (see Radius news release dated November 16, 2010).

In 1988 previous workers drill tested the Per mineral occurrence which is located in the valley three kilometres to the southwest of Radius's 2010 holes and hosted by similar andesites. This short program returned a best interval of 10.5 m grading 8.7 g/t Au (Radius has not been able to verify this intersection because the drill hole collar has been lost). Here the andesites were silicified, unlike the rocks in the lower grade intercepts obtained by Radius.

Therefore, Zonge International, Inc., a geophysical contractor based out of Tuson, Arizona, has started a Controlled Source Audio Frequency Magnetotelluric (CSAMT) and Induced Polarization (IP) survey, with the aim of identifying siliceous, possibly gold-bearing bodies hosted in the andesites. A grid-based auger drill program is also underway, designed to collect bedrock samples beneath mined gravels and overburden for geochemical analysis and alteration studies to help focus the drilling.

A second rig will be mobilized to the property to drill test the second, thrust related gold discovery.

Background

The road accessible property, which consists of 899 Yukon quartz claims covering approximately 180 sq km and 30 Alaska State claims covering 14 sq km, straddles the Yukon/Alaska border. Radius has a 100-per-cent interest in the property through staking and various option/earn-in agreements with several underlying property owners, extensively the placer miners in the region.

Qualified Person

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's Sixty Mile exploration program.

About Radius

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 a number of 100% owned exploration plays, including the HB property in Guatemala and several properties in the Rackla Belt and Sixty Mile placer gold district in the Yukon.

ON BEHALF OF THE BOARD

     "Simon Ridgway"

Simon Ridgway, President & CEO

Investor relations:  Ralph Rushton / Erin Ostrom

Symbol: TSXV-RDU; OTCBB-RDUFF

Shares Issued: 80.1-million

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.

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).

Data and Statistics for these countries : Canada | Guatemala | Nicaragua | All
Gold and Silver Prices for these countries : Canada | Guatemala | Nicaragua | 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$ 17.3 millions as of today (US$ 13.9 millions, € 12.1 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
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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...
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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 ...
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7/14/2014Radius Options Blue Hill Gold Project, Idaho From Otis Gold ...
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5/24/2012Extends Warrants
12/3/2011Radius Gold Announces Shareholder Approval for Spin-Out
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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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