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Royal Road Minerals and Carbomine SARL Enter into a Binding Letter of Intent for the Exploration and Development of the Lalla Aziza Copper Mine, Kingdom of Morocco
Toronto, Ontario--(Newsfile Corp. - September 3, 2024) - Royal Road Minerals Limited (TSXV: RYR)...
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[{"type":"text","content":"Royal Road Minerals and Carbomine SARL Enter into a Binding Letter of Intent for the Exploration and Development of the Lalla Aziza Copper Mine, Kingdom of MoroccoToronto, Ontario--(Newsfile Corp. - September 3, 2024) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to announce that it has entered into a binding letter of intent (the \"LOI\") with Carbomine SARL (\"Carbomine\"), which provides the Company with an option to acquire 100% of the Lalla Aziza mining license (\"Lalla Aziza\"), located in the Kingdom of Morocco.Lalla Aziza is an underground copper-mine located in Morocco's Western High Atlas, approximately 90 kilometers southwest of Marrakesh (see Figure 1). Sulphide ore (principally chalcopyrite; see Figure 2) is mined from moderate-dipping, shear-hosted sheeted-sulphides, vein-stockworks and breccia up to 12 meters wide and from three underground levels over a vertical interval of 150 meters. Whole ore is shipped for sale at a cut-off grade of 2.5% copper (Non-JORC compliant, 35 dry-ton ore assay records, minimum 0.99% maximum 5.1% copper). Figure 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4008/221924_fig_1.jpgFigure 2To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4008/221924_fig_2.jpgLalla Aziza is located at the southwestern extent of Carbomine's mining license area (see Figure 3). The mineralized shear-hosted vein-stockworks and breccia are nucleated on a carbonaceous schist horizon which extends diagonally in a northeast direction across the license area for approximately 4 kilometers strike length. Small-scale workings and anomalous copper rock-chip samples have been collected by Carbomine along the length of the schist horizon. No exploration drilling has been conducted on the license area.Royal Road intends to complete mapping, underground and surface rock-chip and soil geochemical sampling with a view to drill-testing potential along-strike and down-dip at Lalla Aziza by early 2025.Figure 3To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4008/221924_fig_3.jpgSummary legally binding terms of the LOI are as follows:Royal Road have paid to Carbomine the sum of USD$50,000 upon execution of the LOIFor a period that is 120-days ...