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Royal Road Provides Exploration Update for Its Caribe Gold Discovery; Nicaragua
Scout RC Drilling Extends Gold Mineralization to the West, Diamond Drilling Commences Toronto...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Provides Exploration Update for Its Caribe Gold Discovery; NicaraguaScout RC Drilling Extends Gold Mineralization to the West, Diamond Drilling CommencesToronto, Ontario--(Newsfile Corp. - March 2, 2022) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to provide an exploration update from its 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 Mineros S.A., TSX:MSA) 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 saprolite cover and there is no previous record of mining or mineralization in the area. In 2019, Royal Road and Hemco completed an initial 4-hole, exploratory drilling program at Caribe which returned promising results for gold. A follow-up diamond drilling program commenced at the project during August of 2020 and has returned encouraging initial results including CB-DDH-025, 207.45 meters at 1.1 grams per tonne, CB-DDH-016, 100.45 meters at 1.0 gram per tonne; CB-DDH-017, 90 meters at 1.0 gram per tonne and CB-DDH-015, 63 meters at 1.0 gram per tonne gold (see Press Releases November 10, 2020, February 11, 2021, March 17, 2021, September 1, 2021 and Table 1). Drilling at Caribe has revealed that in some cases, soil and laterite cover extends to depths in excess of 30 meters, concealing important geological and geochemical information and frustrating efforts to interpret geometry and predict extensions to known gold mineralization. Consequently, in September 2021, the Company took the decision to suspend diamond drilling and commence a program of grid-based scout reverse-circulation drilling at the project. The program utilizes a small, low-impact, man-portable reverse-circulation (RC) drilling rig which drills through soil and saprolite cover down to the first 2-3 meters of weathered rock where a sample is taken for analysis. 210 vertical scout-RC holes averaging approximately 18m in depth have so far been completed (see Figure 1).Figure 1To view...