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Royal Road Minerals' Saudi Arabian Subsidiary Selected as the Winning Bidder for the Al-Miyah Copper-Gold Tender
Toronto, Ontario--(Newsfile Corp. - July 3, 2024) - Royal Road Minerals  (TSXV: RYR)  (...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"\nRoyal Road Minerals' Saudi Arabian Subsidiary Selected as the Winning Bidder for the Al-Miyah Copper-Gold TenderToronto, Ontario--(Newsfile Corp. - July 3, 2024) - Royal Road Minerals (TSXV: RYR) (\"Royal Road\" or \"The Company\") is pleased to announce that it's 50% owned Saudi Arabian joint-venture company Royal Road Arabia, has been selected as the winning bidder, as part of a competitive Licensing Round, for the Al-Miyah copper and gold tender area. This tender area consists of three contiguous Exploration Licenses, located in the Asir Province of the Kingdom of Saudi Arabia, 150 kilometers northwest of the Company's Jabal Sahabiyah Exploration Licenses (see Press Release January 15th 2024).Royal Road Arabia (\"RRA\") is a Saudi Arabian joint-venture company owned on a 50-50% partnership basis by Royal Road and MIDU Company Limited (\"MIDU\"). MIDU is a Saudi Arabian investment holding company, headquartered in Jeddah, with interests across various sectors including mining, industrial, real estate development and utilities.The Al Miyah Exploration Licenses are contiguous and cover approximately 234 km2 of historic known copper and gold occurrences, hosted in upper Proterozoic age meta-volcanic and intrusive rocks within the prospective Nabitah-Tathlith belt (see Figure 1).Figure 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4008/215303_figure_1.jpgHistoric exploration work was focused on volcanic massive sulphide deposits and was conducted by BRGM (the French geological survey) in 1969. This work comprised geological mapping, trenching and sampling, and identified mineralized gossans at two prospect areas known as Al Miyah and Hishashat-al Hawi (see Figure 2). In 1979 Riofinex Limited (a subsidiary of Rio Tinto Zinc), conducted ground geophysics at the Al Miyah prospect and identified a 1.5km long and 200-meter-wide northwest trending magnetic anomaly corresponding to a corridor of mineralized gossan. Historic samples containing malachite and haematite from 25-meter spaced trenches, over 450 meters of strike length, returned up to 2.4% copper (minimum 0.6% average 1.5% copper) and 3.2 grams per tonne gold (minimum 0.2, average 1.2 grams per tonne gold).Figure 2To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4008/21...