Radius tallies Tambor gold

Vancouver — An independent estimate commissioned by Radius Explorations (RDU-V) suggests that the Tambor property in Guatemala has a resource equivalent to 274,000 oz. gold.

Based on a cutoff grade of 0.3 gram gold per tonne, the indicated resource in the Guapinol South Cliff and Poza del Coyote zones is pegged at 456,000 tonnes grading 3.94 grams gold. The two zones also host 596,000 tonnes grading 4.9 grams gold in the inferred category. The Laguna North zone represents most of the contained ounces, with 1.95 million tonnes grading 1.95 grams gold categorized as inferred.

The study, which was carried out by Colorado-based Chlumsky, Armbrust & Meyer, states: “It is considered likely that the current resource [at Tambor] could be doubled or tripled, or even more, with a concerted drilling program.”

Radius discovered gold mineralization on the Tambor properties in 2000 and subsequently joint-ventured the project to Gold Fields (GFI-N). The South African-based major increased the land holdings and made several new gold discoveries. During the first half of 2003, Gold Fields drill-tested the Guapinol, La Laguna, Poza del Coyote and Cliff zones. In October, Radius purchased all of Gold Fields’ interest in the Tambor joint venture by issuing 1.3 million shares. Gold Fields currently holds 5.1 million Radius shares for a 13.6% equity stake.

Radius will be seeking a partner to continue exploring the property.