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Royal Road Enters into Definitive Agreement over Mineral Rights Within the Santo Domingo Porphyry Copper and Gold District: San Juan, Argentina
Toronto, Ontario--(Newsfile Corp. - February 15, 2023) - Royal Road Minerals Limited ( TSXV: RYR ...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Enters into Definitive Agreement over Mineral Rights Within the Santo Domingo Porphyry Copper and Gold District: San Juan, ArgentinaToronto, Ontario--(Newsfile Corp. - February 15, 2023) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to announce that it has entered into a Definitive Agreement (\"the Agreement\") with an individual title holder (\"the Titleholder\"), which provides the Company with the option to acquire 100% of certain mineral rights within the Santo Domingo porphyry copper and gold district in San Juan Province, Argentina. The Agreement supersedes the previously announced Heads of Agreement entered into by the Company and the Titleholder (see Press Release 29 November, 2022).The Santo Domingo district is located 120 km east of San Juan City at an average altitude of approximately 1,200 meters above sea level. The district comprises two, as-yet undrilled porphyry copper-gold occurrences (Divisiora and El Arriero) and several vein-hosted gold and silver occurrences located within a mineral rights package covering a total area of approximately 200 square kilometers (see Figure 1).Figure 1. Morphotectonic elements of the Central Andes, location of major porphyry copper and gold occurrences, location of Royal Road projects. Oblique aerial view of El Arriero. Summary figure showing the Divisoria and El Arriero occurrences and select rock chip and rock-chip channel samples. Note the copper only potential \"core\" and the outcrop pattern at El Arriero with porphyry mapped in valley bottoms.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4008/154889_royalroadfigure1.jpgSignificant occurrences of copper and gold were first identified in the Santo Domingo district by the Titleholder in 2007. From 2008 to 2014 the area was subject to option agreements between the Titleholder and a third party. The parties concluded a work program which included channel and select rock chip sampling, ground magnetics, Pole-Dipole IP and Audio Magneto-Tellurics (AMT). Subsurface targets were identified but the option agreement was terminated before the commencement of drilling. The province of San Juan is considered a mining friendly jurisdiction and is the location of Barrick's Veladero gold operation, Lundin Mining's advanced Josemaria coppe...