Radius expands Tierra Roja Copper Project in Peru, via new staking
November 5 - Vancouver, British Columbia - Radius Gold Inc. (TSXV: RDU) ("Radius" or the "Company") is pleased to announce that it has staked additional property in Peru, expanding the size of its Tierra Roja Project from 600 hectares to 1,870 hectares. Based on our team's increasing understanding of the geology of the area, the Company believes that there is additional potential to the southwest where contiguous claims have been staked and include Tierra Roja 1-500 and Tierra Roja 1-800 (see Figure 1). Radius has also commenced a 67 line km ground magnetic survey, to assist in defining drill targets.
Bruce Smith, President and CEO, commented: "Our geological team has initiated detailed mapping, sampling and detailed ground magnetics at Tierra Roja as well as evaluations of new projects in the region. The recently staked ground gives the property more scale in an area that we believe has potential for a significant copper discovery."
Tierra Roja Exploration Update
Radius has received detailed petrographic analysis of hand specimens collected during due-diligence sampling at Tierra Roja. The main rock types from the core of the porphyry target were evaluated by thin section microscope, scanning electron microprobe and x-ray analysis. Of note, all samples strongly silicified and sericite altered. The main high grade copper zones are intensely brecciated, with complete replacement by sericite and silica. Parts of the porphyry complex have been completely replaced by micro-vein stockworks and silica flooding. The alteration observed is consistent with patterns observed at other porphyry systems within the southern Peru costal porphyry copper belt. The Radius geological team is currently in the field conducting detailed mapping, sampling and ground based magnetic surveys at Tierra Roja and the recently expanded claim block.
Figure 1. Tierra Roja project location and tenure.
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Figure 2. Tierra Roja project ground magnetics program in progress.
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Property Location and Description
Tierra Roja is an early-stage copper porphyry copper target located in the Coastal Desert, southern Peru, at an elevation of 1700masl and 20km from the Pan American highway. The project site is accessible by road and 4x4 tracks. This project is a recent discovery with no previous systematic exploration or drilling. Tierra Roja is located at the northern end of the southern Peru coastal copper belt which hosts some of the largest copper mines in the world. Peru is the second largest copper producer globally.
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius' Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith has reviewed and approved the technical information contained in this news release.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico, Guatemala and Peru utilizing partnerships where appropriate to retain the Company's treasury. Management is seeking out additional investment and project acquisition opportunities across the globe. Radius is a member of the Gold Group of companies, led by Simon Ridgway. You may find more information on Radius Gold at www.radiusgold.com or www.sedarplus.ca.
ON BEHALF OF THE BOARD
Simon Ridgway
Executive Chairman
Symbol: TSXV-RDU
Contact: Bruce Smith
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: info@goldgroup.com
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the Company's plans for its properties. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, the Company's exploration plans will proceed as expected; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company's stated goals and the planned exploration and development activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
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