VANCOUVER, July 26, 2011 /PRNewswire/ - 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.
SOURCE Radius Gold Inc.
