Radius Gold Inc. reported on the conclusion of the first pass drilling campaign at the Motagua Norte Project, Guatemala. As previously reported (April 25th, 2024), the initial drillholes did not locate the source of the broad area of bonanza grade gold bearing quartz boulder float discovered by Volcanic geologists and named the Mila target. The gold-bearing quartz float at Mila covers a thin serpentinite package and underlying schistose metasedimentary rocks which have been cut by a series of east-west trending structures hosting significant vein zones.

The principal structures, such as the Veta Madre Fault and the Veta Padre structure, are located to the south and uphill from the field of gold-bearing boulders. A strong zone of stockwork veining separates these two larger structures. A total of 13 holes were drilled in this first pass program testing a range of targets.

Results have been received for the initial drill holes that tested for vertical and north-dipping veins at and near to the Veta Madre Fault. Results indicate that the gold-bearing quartz boulders did not originate from these structures. The last four holes were drilled in the opposite direction, from south to north, to test for south- dipping structures.

Several veins of various sizes were intercepted in these drill holes. Assay results are pending, however no visible gold was seen in the drill core. Results will be released as soon as they become available.

In other developments in Guatemala, a new Minister of the Environment (MARN) was appointed on April 12, 2024 and initial public comments from the new Minister were not positive for mineral exploration and development in the country. Before committing further funds to Guatemala, Volcanic will monitor the two significant precious metal deposits where developments are on hold: the multi-million ounce gold deposit at Cerro Blanco and the large high grade silver-lead-zinc deposit at Escobal. These mines could employ thousands of people, providing jobs to Guatemalans so they can thrive in their own communities.