VANCOUVER, April 13 /PRNewswire/ - Radius Gold Inc. (TSX-V:
RDU) is pleased to report that planning is well underway for the
2011 exploration program over its Scarlet
East and West claim blocks in the Rackla Belt, in central
Yukon and exploration is expected
to start mid-year. With the on-going definition of this potentially
world-class belt of Carlin type gold deposits, Radius' management
regard the Company's Rackla program as a top priority for
2011.
ATAC has discovered a cluster of Carlin-type
gold deposits and occurrences. Mineralization in their Osiris
Target appears to share many of the characteristics of Carlin-type
gold deposits, including similar alteration assemblages and
association with the low temperature arsenic sulphides, realgar and
orpiment. Host rocks are two, 150m to 250m thick limestone
debris flow and turbidite units, referred to as the Osiris and Isis
Horizons, which occur within basinal silty mudstones. ATAC's
drilling at Osiris returned a highlight of 31.13 m @ 9.26 g/t Au
approximately 10km northwest of Radius' Scarlett East claim block.
Radius' Scarlet properties consist of 550 claims
in 2 blocks covering prospective stratigraphy along the northern
and southern edges of ATAC's claim block. Scarlett East lies on the southeastern end of
ATAC's claims and potentially covers the extension of the structure
controlling the mineralisation. The Scarlett West claim block lies
about 30km west of Osiris, roughly midway between ATAC's Osiris and
Ariana targets.
Both properties will be targeted with
geochemical surveys (stream sediment, soil and rock sampling),
airborne geophysics (magnetic and radiometrics) and geological
mapping as early as possible in the summer season. The first
stage of exploration is expected to take approximately 6 weeks.
Other Targets
Elsewhere in west-central Yukon, Radius has staked the Face property
covering anomalous stream sediment samples which have a Carlin
(ATAC) - type stream sediment signature. These claims are
underlain by carbonate rocks similar to those rocks that host the
Osiris discovery.
Exploration will also be carried out on claims
staked late in 2010 located between the Sixty Mile and Ten Mile
properties (under option to Solomon Resources Limited). This
target covers a portion of the historic Matson Creek placer camp, a northeast trending
lineament and is underlain by Carmacks volcanic rocks.
Qualified Person
Roger Hulstein, a
member of the Association of Professional Engineers and
Geoscientists of British Columbia
and a Qualified Person as defined by National Instrument 43-101, is
responsible for the accuracy of the technical information in this
news release, and for overseeing the design and execution of
Radius' Yukon exploration
program.
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
two 100% owned exploration plays, the HB property in Guatemala and the Sixty Mile property in the
Yukon Territory.
ON BEHALF OF THE BOARD
"Simon Ridgway"
Simon Ridgway, President &
CEO
Investor relations: Ralph
Rushton / Erin Ostrom
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 79.8-million
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.
Neither the TSX Venture Exchange nor the
Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy
or accuracy of this release.
SOURCE Radius Gold Inc.
