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Royal Road Minerals Reports Positive Follow-up Drilling Results from Its Caribe Gold Discovery; Nicaragua
Toronto, Ontario--(Newsfile Corp. - November 10, 2020) - Royal Road Minerals Limited (TSXV: RY...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Minerals Reports Positive Follow-up Drilling Results from Its Caribe Gold Discovery; NicaraguaToronto, Ontario--(Newsfile Corp. - November 10, 2020) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to announce initial 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 approximately 16 kilometers to the southeast of the Company's Luna Roja Gold Skarn project (see press release; July 13, 2020). Road Minerals is operator of the Strategic Alliance.Royal Road's exploration team discovered the Caribe project during reconnaissance follow-up of airborne geophysical anomalies in February of 2018. Topographically the prospect is planar, outcrop is concealed under soil and laterite cover and there is no previous record of mineralization in the area. Initial grab sampling of strongly weathered 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 15 meters in thickness). In 2019 Royal Road and Hemco completed an initial 4-hole, 413 meter, exploratory drilling program at Caribe which returned significant intersections including CB-DDH-001, 28 meters at 1.1 grams per tonne and CB-DDH-004, 18 meters at 1.0 grams per tonne gold (see Press Release October 7, 2019). A follow-up approximately 2000m diamond drilling program commenced at the project during August of this year (see Table 1, Figure 1; not true width and the company does not have sufficient information to make a determination of the true widths of the drill hole intersections) and is currently underway. Significant (greater than 0.9g/t gold) results from the first 7 drill holes of this program include:CB-DDH-006         74 meters at 0.9 gram...