Radius Gold (TSXV: RDU), a Central America-focused exploration company, has secured a binding exclusivity agreement with an option to acquire a promising copper porphyry project in Peru. The Tierra Roja project, situated in the Atacama Desert at the northern end of southern Peru’s coastal copper belt, spans approximately 6 square kilometers. At the heart of the project lies an 800-meter-diameter circular anomaly, signaling strong exploration potential.
Bruce Smith, CEO of Radius Gold, expressed confidence in the project, highlighting its scale, favorable alteration features, and visible copper oxides in outcrop. “Tierra Roja presents a significant copper discovery opportunity. The site has no nearby communities, making it an easily accessible and cost-effective exploration target within one of the world’s top copper-producing regions,” Smith said.
The project’s owners have collected around 600 rock chip samples, analyzed in a Peruvian mine laboratory. Radius Gold is currently conducting due diligence and validating the historical sampling data.
Part of the Gold Group Management portfolio, Radius Gold also holds two exploration projects in Mexico and Guatemala, both in joint ventures. The company recently launched its first drill program at the Plata Verde project in Mexico in partnership with Fresnillo, the world’s largest silver producer.
Following this announcement, Radius Gold’s shares surged 83.3%, bringing the company’s market capitalization to C$9.3 million. The stock closed at C$0.10, trading near the lower end of its 52-week range of C$0.06 to C$0.30.