Business
Royal Road Reports Further Positive Results from Exploratory Drilling at Its Caribe Gold Discovery; Nicaragua
Identifies New Copper and Molybdenum Mineralized Zone Toronto, Ontario--(Newsfile Corp. - Jun...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Reports Further Positive Results from Exploratory Drilling at Its Caribe Gold Discovery; NicaraguaIdentifies New Copper and Molybdenum Mineralized ZoneToronto, Ontario--(Newsfile Corp. - June 22, 2021) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to announce further interim drilling results 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 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. In 2019, Royal Road and Hemco completed an initial 4-hole, exploratory drilling program at Caribe which returned promising results for gold (see Press Release October 7, 2019). A follow-up diamond drilling program commenced at the project during August of last year and has returned encouraging initial results including 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 and Table 1). Results for a further 3 exploratory drill holes have now been returned. Significant results include:CB-DDH-021 29 meters at 1.0 gram per tonne gold CB-DDH-022 12 meters at 1.2 grams per tonne gold (within a broader halo of 44 meters at 0.7 grams per tonne gold) CB-DDH-023 10.1 meters at 1.85% Copper equivalent1(not true width and the company does not have sufficient information to make a determination of the true widths of the drill hole intersections)The complete lack of outcrop, often significant depth of soil and laterite cover and the brecciated nature of the volcanic sequence at Caribe means a constant reinterpretation of geological models as drilling advances and the project slowly reveals itself. This interpretative process is currently frustrated by congestion and slow turnaround ti...