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Royal Road Minerals Reports Further Positive Follow-up Drilling Results from Its Caribe Gold Discovery; Nicaragua
Toronto, Ontario--(Newsfile Corp. - February 11, 2021) - Royal Road Minerals Limited (TSXV: RY...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Minerals Reports Further Positive Follow-up Drilling Results from Its Caribe Gold Discovery; NicaraguaToronto, Ontario--(Newsfile Corp. - February 11, 2021) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to announce further interim drilling results from its follow-up diamond drilling program at the Caribe gold discovery in northeastern Nicaragua.The Caribe project forms a part of the Company's Strategic-Alliance agreement (see press release; September 6, 2017) with Hemco Mineros Nicaragua (\"Hemco\" a subsidiary of Colombia's Grupo Mineros S.A. MINEROS:CB) and is located in the highly prospective Golden Triangle of northeastern Nicaragua. Royal Road Minerals is operator of the Strategic Alliance.Royal Road's exploration team discovered the Caribe project during reconnaissance exploration in February of 2018. Outcrop at Caribe is concealed under soil and laterite cover and there is no previous record of mining or mineralization in the area. Initial grab sampling of strongly weathered and brecciated float material returned anomalous gold with associated anomalous values in molybdenum and copper. Follow-up auger soil sampling was then conducted and successfully identified a strongly anomalous area of gold geochemistry (see Press Release May 15, 2018) where soil and laterite cover was less than 3 meters deep (recent drilling suggests soil and laterite cover can exceed 20 meters in thickness). In 2019 Royal Road and Hemco completed an initial 4-hole, 413 meter, exploratory drilling program at Caribe which returned encouraging results for gold (see Press Release October 7, 2019). A follow-up approximately 2000m diamond drilling program commenced at the project during August of last year and returned initial significant results including; CB-DDH-006, 74 meters at 0.9 grams per tonne and 14 meters at 1.0 grams per tonne and CB-DDH-009, 45 meters at 1.0 grams per tonne and 35 meters at 1.1 grams per tonne gold (see Press Release November 10, 2020 and Table 1). Results for a further 5 exploratory drill holes have now been returned. Significant results include:CB-DDH-015 63 meters at 1.0 grams per tonne gold (bogged and abandoned above objective)CB-DDH-016 100.45 meters at 1.0 grams per tonne gold (to end of hole and bogged and abandoned above objective)(not true width and the company do...