Radius eyes bulk potential

Vancouver — The team behind Radius Explorations (RDU-V) is evaluating the bulk-tonnage potential of the Lupita zone on the Tambor gold project in Guatemala. This team is known for its discovery of low-grade gold deposits in Central America.

The first four reverse-circulation drill holes into Lupita returned broad gold-bearing intercepts, three of which were in excess of 100 metres. The holes are part of an ongoing, 20-hole, 2,500-metre program designed to test the Bridge, Sastre and Lupita-Chorro targets.

Mineralization occurs in hydrothermal quartz with disseminated pyrite and arsenopyrite in carbonaceous phyllites. Highlights include:

• Hole 1 — 25.9 metres grading 2.09 grams gold per tonne from 35.1 metres down-hole;
• Hole 2 — 61 metres grading 1.28 grams gold from 38.1 metres down-hole;
• Hole 3 — 69.8 metres grading 1 gram gold from 86.9 metres down-hole; and
• Hole 4 — 135.6 metres grading 1.22 grams gold from 32 metres down-hole.

Three of the holes bottomed in mineralization. The junior plans to drill a diamond drill hole in the area to confirm grade distribution and test for the lower limits of the mineralized zone.

The favourable phyllite horizon can be traced for over 4 km. It disappears under ash cover near the Bridge zone, where trench values returned 3.59 grams gold over 85 metres. Seven holes have been completed at the target. The assay results for the remaining three are still pending.

Gold mineralization is hosted by the Tambor Group Schist, the same stratigraphic package that hosts the San Martin gold mine in Honduras, which was discovered by the Simon Ridgway- Bob Wasylyshyn team in conjunction with Mar-West Resources.

In many ways, El Tambor is similar to San Martin. Both are associated with low-angle structures and both host mineralization in oxidized Paleozoic-aged schistose rocks. In addition, they are spatially associated with hot-spring systems, suggesting epithermal origin.

San Martin was sold to Glamis Gold in 1998 for $48 million and is currently in production. This year, the mine is expected to pour 113,000 oz. gold at a cash cost of US$113 per oz. The average gold grade at San Martin is 0.9 gram gold per tonne.

After a brief stint with Glamis, the principals of Mar-West turned their attention to managing Radius Explorations. In December 1999, the junior acquired the right to a 100% interest in the El Tambor gold prospect in central Guatemala. In return, the company agreed to pay a subsidiary of Tombstone Explorations (TSO-T) $300,000 in cash and 200,000 shares over three years. Radius has completed the agreement and holds 100% of the property, subject to a 2.5% net smelter royalty.

The drill rig is now moving over to the Sastre zone, which measures 600 metres by 500 metres and is outlined by a large gold-in-soil geochemical anomaly. Radius first looked at adits in the Sastre zone and completed two hand trenches that assayed 4.9 grams gold over 12.8 metres.

Work then shifted to the Sastre Norte prospect, 500 metres to the north. Trenching there returned average values of 7.8 grams gold over 24.5 metres (in trenches SN-1, SN-4 and SN-5). More recent infill and stepout trenches in the area returned average values of 7.3 grams gold over 30.5 metres (in trenches SN-7 to SN-10).

Radius contracted a structural geologist to examine the geometry of the Sastre Norte occurrence in a recently completed, 10-metre-deep excavator trench. The trench is adjacent to hand-trench SN-1, which returned 11.5 grams gold over 29.4 metres. Mineralization appears to be inclined to the northeast, rather than to the southwest as originally thought. The junior intends to confirm this by drilling up to 10 holes.