Radius trades shares for Guatemalan gold

Vancouver — Radius Exploraions (RDU-V) has acquired full ownership of the Tambor gold properties in central Guatemala from Gold Fields (GFI-N) in return for 1.3 million shares.

Previously Radius and Gold Fields shared the properties on a 45-55 basis. The joint venture, formed in 2001, was designed to explore a 25-km stretch on the southern side of the Motagua fault zone.

Gold Fields, as operator, advanced the project by increasing the land position and making several discoveries.

The Tambor properties host a lode gold belt with a heap-leachable resource of 57,800 oz. gold (indicated) and 216,000 oz. (inferred) at a cutoff of 0.3 gram gold per tonne. Drilling is expected to expand the resource.

Radius merged with PilaGold (PRI-V) in early March to explore for gold in Central America.