There is a saying when investing in the stock market and that is, “The trend is your friend.” This generally means that if the stock is trending up on a consistent basis, that is a good trend as that same trending stock price could very well continue upward. This same saying could be very well be applied to Radius Gold TSX-V:RDU also because of the results that are being found on one of the company’s more than 10km long mineralized trends in Mexico.
A quick look at the website shows just how aggressive Radius Gold is. If you’re looking for a junior who is putting out the news, here’s one to keep your eyes on. The company has six projects, three in Mexico, three in Guatemala and two of these projects have active drilling on the go. Both of these drilling projects are being funded by larger companies, one being Pan American Silver funding the Amalia Project in Mexico and a multi project JV in Guatemala being funded by Volcanic Gold Mines.
The Amalia Project in Mexico is a bit over 11,000 hectares in size and includes three mineralized structures, being the Amalia, California and El Cuervo major vein systems. Within these three major vein systems are multiple targets, all of which are included in Radius Gold’s properties that extend for more than 10 km of strike length. The Amalia portion of the prospect is a high grade gold, silver showing and is 3 km long. Drilling results from one hole shows 44 m of 12.39 grams per ton gold and 309 grams per ton silver.
Back on April 25 the company issued additional results showing 11.8m of 450 grams per ton silver and 1.31 grams per ton gold. To date, 57 drill holes totalling 19,154 meters have been completed at the Amalia project. 10,588 m in 31 drill holes have been completed on the Amalia vein system, and 3,814 m in 14 drill holes completed in the California vein system and 4,752 m in 12 drill holes have been completed at the El Cuervo zone. Assay results are still pending at the time of this writing.
A recent program that was targeting the California vein system defined a wide Au-Ag mineralization across 1km of strike length. The initial shallow drilling has intersected multiphase breccias and stockwork veins with significant widths up to 50 m and high grades with individual samples up to 4210 grams ton silver and 33.1 grams ton gold.
Heading a bit further south is the Holly Project which is a gold-silver project located in southeast Guatemala. This property straddles the regional Jocotan Fault which forms part of the Motagua Suture Zone, 400km long by up to 80km wide deformation zone that separates the North American and Caribbean plates. Here in this region the company has discovered multiple high grade gold and silver targets along and crosscutting this portion of the Jocotan and have has success in the limited drilling that have been done on these targets. Surface results of 396 grams per ton gold and 7092 grams per ton silver along with drill results of 6.00 meters of 43.56 grams ton gold and 1,618 grams ton silver. Ongoing drilling results have produced results of 4.58 meters of 79.84 grams ton gold and 5,053 grams ton silver.
Another interesting project Radius Gold has is the Plata Verde project located in Chihuahua, Mexico, north of the Amalia Gold-Silver project and east of the historic Batopilas silver mining district. This is an old mining camp area that has produced over 300 million ounces of silver. In 2020 the company’s geologists re-discovered an old undocumented large scale underground bulk mining operation that is estimated to have occurred in the late 1800’s. Historic miners had hand excavated an extensive series of caverns along with produced silver bars at an associated smelter operation. Silver “bars” at 0.5kg each have also been found by local residents within the project area. The project appears to be un-explored since the miners ceased their operations, and no references to the project have been found within the Mexican Geological Survey. The few local residents have no knowledge of exploration companies working in the area and there are no indications of prior exploration within the mines or surrounding outcrops. If you want to see interesting photos of this old under ground mine, the company website has some via this LINK
Radius Gold was founded by Simon Ridgway who is also the founder of Fortuna Silver Mines, and founder and CEO of Volcanic Gold Mines. Bradford Cooke is one of the directors of the company. Many will know Bradford as being the founder and CEO of Endeavour Silver and Canarc Resources. The company has just under 93 million shares.
To obtain more information about Radius Gold, visit their website
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