Business
Royal Road Minerals Announces Drilling Results and Provides an Exploration Update for Its Guintär-Niverengo Gold Project; Colombia
Toronto, Ontario--(Newsfile Corp. - September 29, 2020) - Royal Road Minerals Limited (TSXV: R...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Minerals Announces Drilling Results and Provides an Exploration Update for Its Guintär-Niverengo Gold Project; ColombiaToronto, Ontario--(Newsfile Corp. - September 29, 2020) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to announce drilling results and provide an exploration update for its Guintär-Niverengo and Margaritas (GNM) gold project in Antioquia, Colombia. The GNM project area comprises two contiguous concession contracts and one title application area located in the Anza mining district, approximately 50 Km west of Medellin. The titles were acquired through the Company's purchase of Northern Colombia Holdings Limited, an affiliate of AngloGold Ashanti Limited (see Press Release May 31, 2019). The GNM area is subject to a Strategic Alliance Agreement between the Company and Mineros S.A. (\"Mineros\"; see Press Release March 2, 2020). Under the terms of the Agreement, Mineros may acquire a 50% interest in the GNM project by providing USD $2.5M of exploration funding. Royal Road Minerals are operators of the Strategic Alliance. AngloGold-Ashanti (\"AGA\") commenced work on the project area in 2015 and completed two scout drilling campaigns for a total of 5662 meters. The Guintär title area covers an artisanal mining district with more than 50 known historic underground adits developed on steeply-dipping, east-west oriented gold mineralized vein structures. AGA's 8-hole, scout-drilling program at Guintär targeted steeply-dipping sheeted vein structures and returned best results of; GUI-DD-009, 28 meters at 0.9 grams per tonne and GUI-DD-006, 12 meters at 1.8 grams per tonne gold (not true width). Outcrop on the neighboring Niverengo title area is limited and so AGA's drilling was focused on a 2000 by 800 meter wide target zone identified primarily using geophysical data and soil geochemical results. Best intersections were from NIV-DD-003, 36m @ 1.2g/t gold from surface and NIV-DD-004, 10m @ 1.6g/t gold and 88m @ 0.9g/t gold.Royal Road has completed an initial 1179m diamond drilling program focused on the Niverengo title area. Drilling intersected skarn-style mineralization hosted primarily in folded calc-silicate sedimentary rocks and crosscutting east-west oriented pyrrhotite vein and breccia bodies with elevated gold, silver and copper (see Table ...