Radius Gold Options System In Chihuahua, Mexico
VANCOUVER, BC - Radius Gold Inc. has signed a binding agreement with a private Mexican company to option the 473-hectare Tarros Project which is host to several large gold silver mineralized diatreme breccia bodies. The Tarros Project is located 50km north of Radius's new Amalia discovery in the Sierra Madre Gold Silver belt in the State of Chihuahua, Mexico.
The Tarros Project is unexplored, apart from limited historic artisanal-scale mining of surface outcrops on several of the outcropping bodies. It has been reported that Noranda briefly held the property in 1992-1993 but no records of work are known. Epithermal Au-Ag mineralization has been sampled by Radius in several explosive hydrothermal or diatreme breccias bodies within an area roughly 3.5km x 1km. The size of the largest mineralized breccia bodies observed to date exceeds 250m x 250m.
Radius senior geologists visited the property in June 2017 during a regional prospecting trip and observed extensive exposures of volcanic hosted, highly altered explosive textured breccia that were cemented by silica and iron oxides. The breccia bodies were pocketed with pits, tunnels, shafts, glory holes and open cavities where material had been removed by artisanal miners and processed for gold. 26 rock chip samples were collected from three separate breccia bodies with different breccia compositions, of which 24 samples returned significant gold silver values. The average of all 26 samples assayed 1.42 g/t Au and 66 g/t Ag.
The large size potential combined with the disseminated and distributed nature of the gold-silver mineralization indicates potential to discover a large bulk tonnage deposit. During the initial property visit 7 distinct large breccias were observed.
The Rosario Breccia is the northern most breccia body with an estimated minimum size of 150m x 60m. It is a large irregularly shaped breccia body, with several pits and tunnels where artisanal miners produced gold. It is hosted within and comprised of andesite volcanics, with clasts all highly altered and cemented by clay, silica and iron oxides. A continuous chip sample in an old pit on the eastern side of the breccia assayed 10m at 2.95 g/t Au and 18 g/t Ag (5 samples of 2m). The mineralization is open in all directions. 120m NW of the first channel on the margin of the breccia, a second continuous chip assayed 3m at 0.88 g/t Au and 139 g/t Ag (3 samples of 1m).
The Regalito Breccia has an irregular oval shape and is estimated at 200m x 150m. The breccia is hosted within and composed of andesite volcanics. The clasts are all strongly clay altered with variable sulphides, silica and iron oxides cementing the matrix. The breccia is zoned, with the western side intensely silicified with some stockwork veining. Radius collected 8 rock chip samples (2m each) of various breccias in a zone 100 x 20m, with 7 of the samples containing significant gold and silver mineralization. The average of the 8 samples graded 0.78 g/t Au and 101 g/t Ag.
La Bufa, on the western side of the Tarros Project, is elongated NS approximately 300m by 40m wide. It is the only breccia hosted within granodiorite intrusive. In general, the breccia is strongly silicified with broken quartz and veining, abundant disseminated pyrite and iron oxides. There are a few tunnels and small pits, but La Bufa has not been mined as intensely as the other volcanic hosted breccias. This breccia was not sampled in the first reconnaissance but was subsequently sampled by Radius and assays are pending.
The San Nicolas Breccia forms a low hill and has an irregular shape roughly 250m long and 250m wide, hosted within and composed of andesite volcanics. Strong clay alteration of the breccia, zones of intense silicification and iron oxide cement are observed similar to the other breccias where Radius has sampled significant Au and Ag values. Historically the breccia was mined from several underground tunnels and pits. This breccia was not sampled in the first reconnaissance but was subsequently sampled by Radius and assays are pending.
The exposure of San Miguel Breccia is at minimum 200m x 50m elongate roughly NS. The breccia is full of many tunnels and pits where historic miners removed gold rich pods. Radius geologists walked the length of the breccia stopping at various intervals to sample the different breccias types. In total 9 samples were collected over 200m and all samples returned significant gold silver mineralization, averaging 1.48 g/t Au and 43 g/t Ag.
The Tarros system of hydrothermal breccias is a significant discovery and acquisition for Radius in Mexico. The scale of the breccias mapped to date is large with the 6 known breccias having a combined size of 14 hectares occurring over 3.5km x 1km, all with historic evidence of underground mining and surface pits where local miners report recovery of high grade gold and silver. The results of Radius's initial reconnaissance sampling, where 24 out of 26 rock chips returned significant gold and silver values, indicate the potential to discover a large bulk tonnage deposit. Radius plans to quickly secure access agreements with the local land owners and commence detailed grid based and channel sampling to define drill targets.