Business
Royal Road Minerals Receives Drilling Permits at Its Guintär-Niverengo Project and Provides an Update on Its Nearby Margaritas Gold Project; Colombia
Toronto, Ontario--(Newsfile Corp. - June 2, 2021) -  Royal Road Minerals Limited (TSXV:RY...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Minerals Receives Drilling Permits at Its Guintär-Niverengo Project and Provides an Update on Its Nearby Margaritas Gold Project; ColombiaToronto, Ontario--(Newsfile Corp. - June 2, 2021) -  Royal Road Minerals Limited (TSXV:RYR) (\"Royal Road\" or the \"Company\") is pleased to announce that it has received its water concession and discharge permits for its upcoming drilling program at the Guintär project and that the Public Hearing process for its nearby Margaritas gold project is now complete.The Guintär, Niverengo and Margaritas (GNM) project area comprises the two contiguous Guintär, and Niverengo concession contracts and the neighboring Margaritas 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. The Company has now received the final drilling permits required for its planned follow-up drilling program at the Guintär project area. Drilling is expected to commence in early July and will comprise approximately 5000 meters of diamond drilling aimed at testing the deeper parts of the gold mineralizing system. In Q3 of 2020 Royal Road completed a 10-hole (1179m) scout drilling program on the Niverengo title. 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 Press Release September 29, 2020). Significant intersections included, NIV-DDH-007; 14 meters at 4.1 grams per tonne gold equivalent[1], NIV-DDH-015; 10.8 meters at 3.4 grams per tonne gold equivalent, NIV-DDH-008; 10 meters at 2.3 grams per tonne gold equivalent and NIV-DDH-010; 18 meters at 1.9 grams per tonne gold equivalent; and 21.5 meters at 1.3 grams per tonne gold equivalent. Geological mapping and multielement ...