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Royal Road Minerals Executes Exclusivity Agreement over Mina La Maria Gold Project in the La Llanada Gold District, Nariño Province, Colombia
TORONTO, ON / ACCESSWIRE / July 12, 2016 / Royal Road Minerals Limited (TSXV: RYR) ("Royal R...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Minerals Executes Exclusivity Agreement over Mina La Maria Gold Project in the La Llanada Gold District, Nariño Province, ColombiaTORONTO, ON / ACCESSWIRE / July 12, 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 a binding Letter of Intent with the mining concessionaire with respect to the Mina La Maria gold project, which is located approximately 4 kilometers to the west of the Company's La Golondrina and La Redención gold projects in the La Llanada gold district of Nariño Province, southern Colombia (see Figure 1). The Letter of Intent provides the Company with the exclusive right to conduct exploration and legal due diligence on the Mina La Maria gold project property for a period of three months commencing July 9, 2016. \nThe Mina La Maria gold project is a locally-owned, quartz-vein-hosted gold mine, held under a 100 hectare mining license. The style of gold mineralization at Mina La Maria is intrusion-related and similar to the Company's nearby La Golondrina and La Redención gold projects save that mineralized aplitic and pegmatitic bodies appear to be more evident. Underground mine workings which occur within the license area are currently inactive. There has been no drilling or systematic modern exploration conducted on the license. \n\"We are delivering on our plan of consolidating and expanding our presence in this remarkable gold district,\" said Tim Coughlin, Royal Road's President and CEO. He added, \"La Maria is the third such agreement we have made in La Llanada in the last ten months. Every time we advance such exclusivity arrangements to full option agreements we make valuable new local partners and stakeholders which we believe are vital components of a successful and sustainable exploration and development program. We are excited about the vein-hosted gold potential at La Maria and also intrigued by the chance of finding what may be bulk-tonnage, pegmatite-hosted gold mineralization at the project.\"\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\nThe information in th...