Gold Fields tags hot holes at Guapinol

Vancouver – Impressive drill results continue to roll in from Radius Explorations‘ (RDU-V) ground in eastern Guatemala. The latest batch came from partner Gold Fields (GFI-N) on the Poza Del Coyote target on the Guapinol property.

The South African-based major tested the high-grade gold mineralization encountered in trench 29 (10.9 metres grading 66.8 grams gold per tonne) by punching 10 reverse circulation drill holes into the system. The 800-metre program confirmed that the high-grade gold mineralization is associated with vein quartz and arsenopyrite. The best results came from hole 8, which returned 9.1metres grading 21.9 grams gold. Included in this section was a bonanza grade intercept of 81.9 grams gold over 2.3 metres. Other highlights include:

• Hole 3 – 10.2 grams gold over 3 metres from 5.3 metres downhole;
• Hole 4 – 23.4 grams gold over 3.8 metres from 21.3 metres downhole;
• Hole 5 – 13.4 grams gold over 6.9 metres from 13.7 metres downhole;
• Hole 7 – 4.4 grams gold over 12.2 metres from 35.1 metres downhole and,
• Hole 9 – 15.1 grams gold over 2.3 metres from 15.2 metres downhole.

Based on the results, the main quartz vein system trends east-west with a moderate to steep northerly dip.

Gold Fields is now drill testing a high-grade gold-quartz vein that return up to 31 grams gold over 10.1 metres at surface. Prospecting suggests a potential strike length of up to 2-ikm. So far, Gold Fields have completed eight holes in a planned, 1,800 metre core drilling program.

The major is the operator of the joint venture and has the right to earn a 55% interest in the property by spending US$5 million over three and a half years.

Moving over to the Marimba project, Radius and partner Pillar Resources (PRI-V) are awaiting the results from the first round of drilling. The 1,400 metre program focused on the north face of the Cerro T hill, where surface rock and soil sampling has defined a gold anomaly coincident with the trace of the Jocotan fault zone.

The juniors tested the zone with 13 holes, while 3 holes were completed at the Lantiquin zone where surface rock and soil sampling defined a broad area of weak gold mineralization.

Pillar can earn a 60% stake in the project by paying Radius US$30,000 and spending $2.5 million over a 3-year period. Once vested, Radius has the right to require Pillar to purchase the remaining 40% of the project in consideration for a 40% equity interest in Pillar.

Some 20 km to the west, the partners have also launched the highly anticipated second bout of drilling over the Holly property.

This program is following up the high-grade gold mineralization cut during the first drilling program at the Trail zone.

The Holly property hosts to several epithermal gold targets. Previous work defined a series of sub-parallel north-south striking gold-silver veins, which lie along the trace of the Jocotan fault zone.

Last year, Radius punched seven core holes into the property, with the best result coming in hole 4, which tested the down-dip continuity of mineralization at the Trail zone and yielded 43.56 grams gold and 1,617 grams silver over 6 metres.

At the Banderas property, which is included in the Holly joint venture land package, gold mineralization occurs within epithermal veins associated with rhyolite flow domes. Previous work defined broad areas of low-grade gold in soil anomalies. Rock-chip sampling of the high-grade, M28 gold-silver vein returned values of up to 28 grams gold and 500 grams silver over 1 metre widths. A trenching program targeting the vein system is underway.

Pillar is earning a 60% interest in the Holly project by paying Radius 500,000 and spending $4 million on exploration over 3 years. Once Pillar has acquired the 60% interest, Radius has the right to require Pillar to purchase the remaining 40% for stock in Pillar.

Gold Fields retains the first right of refusal over both the Holly and Marimba project, should Pillar vend the projects to a third party.