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Radius Provides an Update on its Nicaragua Exploration Programs
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Vancouver, Canada: Simon Ridgway, the President of Radius Gold Inc.
(TSX-V: RDU), is pleased to provide a brief update of recent progress
on the Company's exploration programs in Nicaragua. Radius is
exploring a number of epithermal gold systems in central and northern
Nicaragua including the 100% owned Tr�bol vein system and the Estrella
de Oro project. A man-portable diamond drill rig has been contracted
and mobilized to Nicaragua for use on the Company's Nicaraguan projects
in the 2008 field season.
Radius is working in close consultation with the local communities in
all of its projects to ensure local support for its exploration
activities, and is a major employer in these communities.
Estrella de Oro
Estrella de Oro is a recently acquired gold property located 17km west
of Siuna, near the historical Bonanza District in north-central
Nicaragua. The concession comprises 46,000 hectares and covers an
historic gold operation.
Trenching has commenced in the vicinity of the old workings on Cerro
Estrella ridge. Eight trenches have been excavated to date over an
area approximately 350m x 140m. Outcrop is very poor due to dense
vegetation cover. Initial assay results have been received and the most
significant weighted average channel sample results are as follows:
- TR-LE-001 15.2m @ 6.73 g/t Au, incl. 2.72m @ 10.24 g/t Au & 1.3m @
44.17 g/t Au
- TR-LE-002 12.3m @ 1.55 g/t Au
- TR-LE-003 9.3m @ 3.77 g/t Au, incl. 3.62m @ 7.15 g/t Au
- TR-LE-004 4.9m @ 8.55 g/t Au
The results confirm that the gold mineralization is associated with a
sequence of steeply-dipping to sub-vertical quartz veins showing
variable widths, and hosted within strongly altered volcanic tuffs.
Despite the success of the initial trenching, the geology and
distribution of the vein trends remains poorly understood and further
trenching and sampling is underway in the Cerro Estrella area in order
to better define the continuity of the mineralization along strike to
the northeast and southwest. Regional drainage sampling is also
underway to define additional targets: visible gold can be panned from
several surrounding streams.
Tr�bol
Tr�bol is an early-stage epithermal gold property located in the Region
Autonoma Atlantico Norte (RAAN), northeastern Nicaragua. Work has
resumed there after Hurricane Felix halted Radius's program in late
2007. Access is being restored and a new exploration camp constructed.
Further trenching is underway after initial work defined a system of
alteration and gold mineralization associated with low-lying silicified
ridges over a strike extent of at least 5 km. The new trenching,
combined with soil geochemical surveys, will better define the width
and strike of the alteration and mineralization. Early scout drilling
is anticipated to provide valuable information on the geological and
structural controls on mineralization, and confirmation of the presence
of gold mineralization below the surface weathered zone.
The Company previously reported the following channel sample results
from initial trenching (see news release dated October 16, 2007, and a
trench location map on the Radius website www.radiusgold.com):
- Trench 2 - 10.4m at 1.3 g/t Au
- Trench 3 - 34m at 1.0 g/t Au
- Trench 4 - 35.25m at 4.9 g/t Au including 17.6 g/t Au over 8.35m
- Trench 5 - 11.65m at 2.73 g/t Au
- Trench 13 - 6m at 1.73 g/t Au
Outcrop at Tr�bol is very poor due to vegetation cover. Trenching to
bedrock has generally shown that higher grade gold mineralization (>2
g/t Au) is associated with quartz veins which show multiple trends, and
are enclosed and/or intercalated with lower grade quartz stockworks.
This may indicate potential for bulk-tonnage mineralization.
La India and San Pedro
The Company reports that it is in discussions with potential joint
venture partners for these properties. The Company will report on
developments as they occur.
PDAC Toronto
Radius will be attending the annual Prospectors and Development
Association of Canada conference, March 2 -- 5, in Toronto, and would
like to extend an invitation to its Booth # 2433 in the Metro Toronto
Convention Centre.
Assay Protocol & Qualified Person
The scientific and technical information in this release was prepared
under the supervision of Mr. David Cass, Radius's Vice-President of
Exploration, who is a member of the Association of Professional
Engineers and Geoscientists of British Columbia, and a "Qualified
Person" in accordance with National Instrument 43- 101.
For further information on Radius Gold Inc., please call toll free
1-888-627-9378 or visit our web site www.radiusgold.com.
The TSX Venture Exchange has not reviewed and does not take
responsibility for the adequacy or accuracy of this release.
ON BEHALF OF THE BOARD
"Simon Ridgway"
Simon Ridgway, President
Investor relations: Ralph Rushton / Erin Ostrom
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 53.5-million
Associated File:
http://www.radiusgold.com/i/pdf/RadiusPR-Feb28-2008.pdf
44 KB in size, approx. 9 seconds to download at 56.6Kbps
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Copyright (c) 2008 RADIUS GOLD INC. (RDU) All rights reserved. For
more information visit our website at http://www.radiusgold.com/ or
send mailto:news@goldgroup.com
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