Radius Gold to Acquire Jonco Silver Project in Peru
Vancouver, British Columbia — February 27, 2026 — Leads & Copy —
Radius Gold Inc. (TSXV: RDU) has entered into an option agreement to acquire a 100% interest in the Jonco Silver Project, a large-scale polymetallic silver-gold-lead-zinc system located in central Peru.
The Jonco Silver Project hosts a disseminated epithermal Ag-Au-Pb-Zn system associated with dacite flow domes and diatreme breccias. Historical drilling has confirmed mineralization from surface and defined potential for a large-scale polymetallic system.
The project covers 3,830 hectares and includes multiple drill and geophysical targets. Eleven historic drill holes (3,195m) have been completed on the property. The project has the potential for a large polymetallic Ag-Au-Zn-Pb system with disseminated open-pit style mineralization from surface to 250m depth, hosted in dacitic flow domes and diatreme breccias. Extensive geophysics includes over 30 line-km of combined ground magnetics and IP/Resistivity surveys.
Historical drilling highlights include:
Silver Zone:
- SAB-03: 254.5m @ 27.0 g/t Ag, 0.42% Pb, 0.71% Zn
Gold Zone:
- SAB-01: 85.5m @ 0.43 g/t Au, 14.1 g/t Ag, 0.56% Pb, 1.26% Zn
- AND 90.0m @ 0.32 g/t Au, 31.3 g/t Ag, 0.20% Pb, 0.56% Zn
These historical drill results are based on prior operator reporting and have not been independently fully verified by Radius. The reported intervals are interpreted to approximate true widths; further works are required to confirm this.
Mineralization at the Jonco Silver project is interpreted as a large-scale polymetallic disseminated and replacement-style Ag-Pb-Zn ±Au epithermal system hosted within dacitic flow domes and diatreme breccias. Mineralization is both strata-bound and structurally controlled.
The company believes the system demonstrates characteristics consistent with a large polymetallic bulk-tonnage deposit. Geological modelling by the Radius Gold geological team suggests potential to initially define 50–100 million tonnes of mineralized material through systematic drilling. Additional drilling and technical studies are required before any mineral resource can be defined.
Comparable disseminated polymetallic Ag–Pb–Zn (±Au) systems include Iska Iska in Bolivia, Peñasquito in Mexico, Chinchillas in Argentina and Bowen’s Silver deposit in Australia.
Multiple untested targets at Jonco Silver have been defined by property-wide magnetics and induced polarization surveys and geochemistry, with no significant exploration outside the central drilled zone.
The project is in a well-established mining region of Peru with access via both coastal and highland routes from Lima. Proximity to major ports including Callao, Chancay and Pisco provides long-term logistical advantages for future development scenarios.
Under a binding Letter of Intent, Radius may earn a 100% interest in the Jonco Silver Project over five years through staged cash payments totalling US$4.15 million, US$7.0 million in exploration expenditures, and the issuance of 250,000 Radius common shares.
Key terms include:
- On signing of the formal Option Agreement (subject to TSXV approval): US$50,000 and 50,000 Radius shares
- Upon grant of drill permits (FTA and Inicio de Actividades): US$150,000 and 50,000 Radius shares
- By the First Anniversary following drill permit grant: US$1.0 million exploration expenditures and 50,000 Radius shares
- By the Second Anniversary: US$250,000; 50,000 Radius shares; and US$1.5 million exploration expenditures
- By the Third Anniversary: US$1.0 million; 100,000 Radius shares; and US$2.0 million exploration expenditures
- By the Fourth Anniversary: US$1.2 million and US$2.5 million exploration expenditures
- By the Fifth Anniversary: Final payment of US$1.5 million to earn 100% ownership
Upon exercise of the Option and acquisition of a 100% interest in the Project, the vendor will retain a 2% Net Smelter Return royalty. Radius may purchase up to 0.5% of the NSR for US$1.0 million. Radius also holds an exclusive right to negotiate the purchase of an existing 1.25% NSR royalty.
Previous drill permits associated with historical exploration programs have expired. Prior to commencing new drilling, the company will complete the standard permitting process applicable to regular mining concessions in Peru, including community authorization for surface access, updated environmental approval through a Ficha Técnica Ambiental (FTA), and sectoral drill permits from the Ministry of Energy and Mines (MINEM).
The company has initiated formal engagement with the Comunidad Campesina de Cajamarquilla, which holds surface rights over portions of the project area.
Next Steps:
- Geological mapping and systematic surface geochemistry
- Integration of historical drilling and geophysical data
- Drill permit updates and preparation for initial drill program
The Jonco Silver Project represents an advanced-stage Ag-Au-Zn-Pb exploration opportunity with substantial scale potential.
Radius continues to advance permitting for the Tierra Roja copper project in southern Peru, where the Company is preparing for its first drill program. All technical preparations are complete, and the project is drill ready.
Bruce Smith, President and CEO, said the administrative process for Tierra Roja has taken longer than anticipated, but the technical team is fully prepared. He looks forward to commencing drilling as soon as the final authorization is received.
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’ Qualified Person. He has reviewed and approved the technical information contained in this news release.
Radius has a portfolio of exploration projects located primarily in Mexico and Peru.
Source: Radius Gold Inc.
Share this story:
