Radius Gold Starts Drilling in Nicaragua
Drilling has begun on the Company's Trebol property (42,193 hectares) located in northeastern Nicaragua, where epithermal gold mineralization is associated with a series of intensively silicified ridges.
Thursday, May 8, 2008
The preliminary drill program is being designed to test the sub-surface continuity of the gold grades observed in selected trenches and to give geological and structural information on the geometry and controls on mineralization which will be used to further explore the property.
Radius Gold will invest $4.5 million in gold extraction at its Holly-Banderas mine, in southeast Guatemala.
The Canadian mining company buys 40% of shares from joint venture partner Radius Inc. for $20,08 million, and takes total control of Trebol and El Pavon gold mining sites in Nicaragua.
In 2016 mining companies are proposing to increase productivity in order to offset the dip seen in the international price of the metal.
Nicaraguan mining companies forecast more growth for 2014 in line with the investments made by the sector.
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