Radius Gold Confirms Historic Silver-Lead-Zinc Grades from Resampling of Jonco Drill Core and Announces Private Placement
Radius secures $960K placement to fund Jonco resampling and exploration in Peru, validating legacy grades at the deposit.
Radius Gold Inc. (RDU) has confirmed resampling results from historic drill hole JNDH-01 at its Jonco silver project in Peru, verifying 2006 assay data for silver, lead, and zinc grades. The resampling identified a second, distinct low-sulfidation gold mineralization style overprinting the primary intermediate-sulfidation base-metal event.
The company also announced a non-brokered private placement of up to 4.0 million units at $0.24 per unit, raising up to $960,000 in gross proceeds. Each unit includes one common share and one warrant exercisable at $0.35 per share for 12 months, with an acceleration clause if the stock trades at $0.50 or higher for 10 consecutive days. Proceeds will fund Jonco exploration and general working capital.
Radius Gold Inc. (RDU) has completed a resampling of historic core, a routine verification step consistent with the company’s plan to re-log and resample existing data. The results confirm the current geological model but do not expand the resource footprint or identify new high-grade intercepts.
In a separate development, the company executed a small-scale private placement at $0.24 per share. This price is slightly below the recent trading range of $0.23–$0.28. While the transaction provides necessary working capital, it introduces dilution to existing shareholders.
The news is incremental and expected given the company’s exploration timeline and cash position. It does not materially alter the company’s trajectory, valuation, or near-term catalysts.
Radius Gold Inc. (RDU) is a junior exploration company with a diversified portfolio across Peru, Mexico, and Guatemala. The Jonco silver project in central Peru is the primary near-term focus, featuring a large-scale polymetallic Ag-Au-Pb-Zn epithermal system with historic drilling and ongoing resampling.
The Tierra Roja copper project in southern Peru is drill-ready, with environmental permits secured and site preparation underway. In Mexico, the Amalia gold-silver project is a 35% joint venture with Pan American Silver, which has halted exploration since 2022. Meanwhile, the Holly gold-silver project in Guatemala is a 60% joint venture with Volcanic Gold Mines, currently paused due to social license challenges.