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Radius Explorations Ltd.

Radius Explorations Ltd.  RDU   (VSE)

El Salitre Project, central Mexico somewhere (state unknown). This new discovery was identified by a reconnaissance prospecting team and acquired through the staking of an exploration concession. The size and strength of the gold mineralization, as seen on the surface, demonstrates a hydrothermal system with the potential to host a large gold resource. The El Salitre gold zone is related to hot spring activity, both recent and extinct, along a 30 km long fault scalp. Three silica sinters and their related alteration haloes have been located along a cumulative 3500 m strike length of the fault. Gold values within the sinter are strongly anomalous ranging up to 1 g/t in both chip and grab samples. Anomalous gold values in sinter or the near-surface environment indicates the potential for significant gold accumulation immediately under the sinter level. The degree of erosion is negligible and locally only a few meters beneath the sinter is exposed. Veins cutting both the sinter and the altered bedrock have been sampled and return values up to 2.1 g/t across 1 meter. These veins also indicate that gold may have concentrated in discrete, high-grade, bonanza veins at depth below the sinter. Presently an exploration program is being designed which will include geochemistry, geophysics and drilling to test this system at depth. Optioned to Barrick Resources who have outlined a coincident geochem (soils) magnetic and IP anomaly 100-350m wide over 6 km of strike. RC drilling planned as initial 8 to 10 hole program.

Press Release 03Oct00
Press Release 10Aug99