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Royal Road Minerals Executes Strategic Alliance Agreement with Hemco Nicaragua S.A. for Exploration in Nicaragua
Toronto, Ontario--(Newsfile Corp. - September 6, 2017) - Royal Road Minerals Limited (TSXV: ...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Minerals Executes Strategic Alliance Agreement with Hemco Nicaragua S.A. for Exploration in NicaraguaToronto, Ontario--(Newsfile Corp. - September 6, 2017) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to announce that it has executed a strategic alliance agreement with Hemco S.A. (\"Hemco\"), forming a strategic alliance (the \"Alliance\") for mineral exploration in Nicaragua. The objective of the Alliance is to identify and explore gold and copper targets in Nicaragua in the areas covered by Royal Road's and Hemco's respective specified existing licenses, which together cover large regions of highly prospective and under-explored land areas and include in excess of 35 currently identified prospect areas. The Alliance will bring together two experienced project generation and exploration teams with track records of success. Royal Road and Hemco will share their collective experience and databases, co-fund early stage exploration programs, and jointly seek to advance their current projects and pursue new projects in Nicaragua. In particular, the Alliance is initially focused on defining reserves in excess of two million ounces of gold (or gold equivalent) recoverable. Hemco is a subsidiary of Grupo Mineros S.A. (MINEROS:CB), Colombia's largest gold producer, and a holder of licenses covering an area approximately 200,000 hectares in the historic mining region of northeastern Nicaragua known as the \"Golden Triangle\"(see Figure 1). \"This joint-venture unlocks significant potential for both parties\" said Dr. Tim Coughlin, Royal Road's President and CEO. He added: \"We are proud to be aligned with such a respected partner in Nicaragua and excited to have acquired access to the \"Golden Triangle\" area which, in addition to our Nariño project in Colombia, provides the Company with another region of gold and copper exploration potential. Moreover, with funding expected to be contributed by Hemco, we anticipate being in a position to drill test the underlying potential of the exciting Los Andes porphyry copper and gold target, whilst also commencing the planned drilling program at Piedra Iman on an accelerated basis.\"Eduardo Flores Zelaya VP Corporate Development of Mineros S.A. stated \"This Alliance, with a Company which uses innovative strategies and tools to identify a...