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Royal Road Minerals Enters into Option Agreement to Acquire the La Redencion Gold Project in Narino Province, Colombia
TORONTO, ON / ACCESSWIRE / April 4, 2016 / Royal Road Minerals Limited (TSXV: RYR) ("Royal R...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Minerals Enters into Option Agreement to Acquire the La Redencion Gold Project in Narino Province, ColombiaTORONTO, ON / ACCESSWIRE / April 4, 2016 / Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road Minerals\" or the \"Company\"), a gold focused mineral exploration and development company, is pleased to announce that it has entered into an option agreement (the \"Option Agreement\") effective as of March 31, 2016, with Mesias Oliver Acosta Benavides, Euberto Ernesto Calderón and Jesús Yerobi Santander (collectively, the \"Optionors\") to acquire 100% of the La Redención gold project, which is located approximately 450 meters north of the license boundary of the Company's La Golondrina gold project in the Nariño Province of southern Colombia. \nThe La Redención gold project is a locally owned and operated vein-hosted gold mine held under a 25 hectare mining license. The project has not yet been drill-tested but exposure in underground development reveals that the mineralized system has the same geological characteristics to the Company's neighboring La Golondrina gold project. Where exposed, gold mineralization at La Redención is most similar to the \"vein-zone\" style of gold mineralization at La Golondrina and comprises three or more shallow-dipping parallel veins with subsidiary linking vein structures extending over widths that exceed one meter and in some cases dip off into the floor or roof of underground development (see Figure 1). Mineralized bodies at Mina La Redención occur some 700 meters vertically below and just 450 meters along strike to the north from veins and vein-zones at La Golondrina, suggesting that they are part of the same gold mineralizing system.\nImage: https://www.accesswire.com/uploads/19917_royalroad1.jpg\nTo view an enhanced version of Figure 1, please visit:\nhttps://www.accesswire.com/uploads/19917_royalroad1enhanced.jpg\n\"We are excited about this new partnership and about the potential at Mina La Redención\" said Tim Coughlin, Royal Road's President and CEO. He added \"It is our view that gold mineralization at La Redención is an exposed extension of the same high-grade gold system at La Golondrina, testifying to the lateral and vertical extent of vein and hornfels-hosted gold mineralization in this area and thus to its plus million ou...