Radius Stakes New Rackla Belt Claims, Expands Scarlet East Au-Hg-Sb-As-Tl Anomaly
26.07.2011 | CNW
VANCOUVER, July 26, 2011 /CNW/ - Radius Gold Inc. (TSX-V: RDU) is pleased to announce it has staked an additional 98 claims in 2 blocks contiguous with its Scarlet West claims in the Rackla Belt, Yukon Territory. Fifty four claims were staked on the northern boundary of the Scarlet West claims and 44 on the eastern side. The new staking increases Radius's land position in this exciting emerging belt to 620 claims.The Company has now received results for additional ridge-and-spur sampling along a northeast-southwest trending ridge on the eastern end of the Scarlet East claims, expanding the size of the previously announced anomaly, with anomalous arsenic, antimony and gold associated with thallium and mercury in an area of orange-weathering, gossanous looking limestone. The latest gold-in-soil results returned up to 182ppb Au.
The anomaly coincides with the possible strike extension of the Nadaleen trend that bounds the Osiris and Conrad occurrences approximately 15km to the west-northwest. Updated geochemical maps, and a sketch map of the geology of the Scarlet East claim block, can be found on Radius's website at www.radiusgold.com.
Radius has also commenced a low level helicopter aeromagnetic and radiometric geophysical survey that will be carried out by Precision GeoSurveys Inc. Line spacing will be 200m oriented north - south crossing the regional trend. Preliminary results are expected shortly.
The Scarlet East property covers what is believed to be the eastern extension of the belt of rocks that host ATAC Resources's Osiris and Conrad discoveries northeast of Keno City in the Yukon Territory. The Rackla Belt is a potentially major belt of Carlin-type gold mineralization. Radius staked 320 claims covering the prospective stratigraphy along the southeast edge of ATAC's claim block, approximately 10-30km southeast of the Osiris target.
A photograph of the ridge and gossanous-looking orange weathered limestone units has been posted on Radius's website at www.radiusgold.com.
Recent discoveries of gold mineralization in the Rackla Belt have identified the presence of Carlin-type gold deposits, with similar alteration assemblages and association with the low temperature arsenic sulphides, realgar and orpiment. Host rocks are two, 150 to 250 m thick limestone debris flow and turbidite units, referred to as the Osiris and Isis Horizons, which occur within basinal silty mudstones.
Laboratory
All samples were sent to Acme Analytical laboratories Ltd. preparation facility in Whitehorse. The sieved samples were analyzed at Acme's laboratory in Vancouver. Soil samples, dried and sieved to -80 mesh, were analyzed for a 37 element suite, including gold, by ICP-MS (code 1F05) using a 15 gram sample.
Chain of Custody
All sampling is conducted under the supervision of the Company's project geologist. Samples are tracked by the project geologist from the project site to the sample preparation facility and transported by company personnel or expediters employed by the Company.
Qualified Person
Roger Hulstein, BSc, P.Geo., is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the Company's Qualified Person as defined by National Instrument 43-101. Mr. Hulstein is responsible for the accuracy of the technical information in this news release.
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: 86.5-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:
on Radius and its properties, please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com).