Radius reported a standout intercept, the first hole in second-round drilling at the project in Chihuahua state, of 44m grading 12.38g/t gold and 309.3g/t silver.

It was drilled 65m downdip of the December highlight of 26m at 7.08g/t gold and 517 g/t silver, which boosted Radius' share price 31% at the time to C12.5c.

Its shares rose 139.29% yesterday to C33.5c, valuing it at $29 million.

Radius had $5.2 million (US$3.9 million) in working capital at the start of the year.

It can earn 100% of Amalia by paying US$845,000 cash and issuing $15,000 in shares to the property owner over five years, with $25,000 paid to date according to its MD&A filed this week.

It granted Pan American (TSX: PAAS) the option last July to earn an initial 65% of Amalia by paying $1.5 million and spending $2 million on exploration over four years.

Pan American can earn another 10% by taking the property to preliminary feasibility.

Its shares are trading close to a 52-week low. They lifted slightly intraday but closed down 2% to C$16.70, capitalising Pan American at $3.5 billion.