Radius Gold Inc. said Oct. 4 that it is optioning the Tarros project in Chihuahua, Mexico, from a private company.
The 473-hectare property hosts several, large gold-silver mineralized diatreme breccia bodies and is 50 kilometers north of Radius' new discovery at its Amalia project. Aside from limited historic artisanal-scale mining, the project is apparently unexplored.
Under the terms, Radius can acquire the property by paying nearly US$1.7 million total in stages within four years. Tarros is also subject to a 2% net smelter royalty, and each percentage point can be purchased by the company for US$1 million.
Radius secured an option on the Amalia project in June, and a recent sampling program on the property yielded results including 4 meters at 6.04 g/t of gold and 1,702 g/t of silver from the Guadalupe target, and 30 meters at 0.58 g/t of gold and 151 g/t of silver from the Campamento target.