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Royal Road Minerals Announces New Exploration Results and Advances Caribe and Los Andes Projects to Drilling Stage; Nicaragua
Toronto, Ontario--(Newsfile Corp. - June 27, 2018) - Royal Road Minerals Limited (TSXV: RYR) (...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Minerals Announces New Exploration Results and Advances Caribe and Los Andes Projects to Drilling Stage; NicaraguaToronto, Ontario--(Newsfile Corp. - June 27, 2018) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to announce new results from deep auger soil-sampling and a ground magnetic survey at its Caribe prospect, and from alteration mapping and soil geochemical sampling at its Los Andes project, Nicaragua. Both projects have been advanced to drilling-stage with permitting now underway. The Caribe and Los Andes projects form part of the Company's 50-50 Strategic-Alliance agreement (see press release; September 6, 2017) with Mineros Nicaragua (a subsidiary of Colombia's Grupo Mineros S.A. MINEROS:CB).Caribe Gold ProjectThe Caribe project was discovered by Royal Road's exploration team during reconnaissance follow-up of airborne geophysical anomalies in February of 2018. The project is located in the highly prospective Golden Triangle of northeastern Nicaragua (Figure 1), a region characterized by gold veins, skarn and porphyry-style mines that have combined to produce in excess of an estimated 8 million ounces of gold since the early 1900's. Topographically, the Caribe prospect area is relatively flat and there is no outcrop. Initial grab sampling of strongly weathered, altered and brecciated felsic volcanic float material returned anomalous gold with associated anomalous values in molybdenum. Two programs of deep auger soil sampling have now been conducted across the area using a 3-meter long hand-auger to access residual soils located below the weathered saprolitic layer. Soil-sampling to-date has identified a strongly anomalous, \"semi-circular\" area which new ground magnetic data suggests corresponds to magnetic lows, possibly located at the intersection of northwest and east-northeast trending linear features (see Figure 1). Soil gold geochemistry ranges from 20 to 983ppb (mean 149ppb gold) and covers some 1200m in strike-circumference, 200 meters in width and remains open to the northeast and southeast (see Figure 1). The highest grab rock-chip sample collected from hand dug shafts in the area returned 3.5 grams per tonne gold (range 0.01 to 3.536 grams per tonne gold; note grab samples are selective samples and are not necessarily representative of the mineralization...