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Royal Road Reports New Ground Geophysical Results from the Caribe Gold Discovery; Nicaragua
Toronto, Ontario--(Newsfile Corp. - May 5, 2020) - Royal Road Minerals Limited (TSXV: RYR) ("R...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Reports New Ground Geophysical Results from the Caribe Gold Discovery; NicaraguaToronto, Ontario--(Newsfile Corp. - May 5, 2020) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to announce results of recently completed ground magnetic and micro-gravity surveys from 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; October 1, 2019). Royal Road Minerals is operator of the Strategic Alliance.Royal Road's exploration team discovered the Caribe prospect during reconnaissance follow-up of an airborne geophysical anomaly in February of 2018. Topographically the prospect area is planar, outcrop is non-existent 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. Follow-up deep auger soil sampling was then conducted using a 3-meter long hand-auger to access the deep residual soil horizon located below organic and saprolitic layers. Soil-sampling identified a strongly anomalous area of gold geochemistry (see press release; May 15, 2018) of 600 by 400 meters in area. Additionally, 18 1 meter square and 2 to 3 meter deep shafts were dug in order to expose bed-rock, assist mapping and collect channel and grab rock-chip samples. The highest result from grab rock-chip samples collected from these shafts was 3.5 grams per tonne gold (range 0.01 to 3.54 grams per tonne gold; note grab samples are selective samples and are not necessarily representative of the mineralization hosted on the property).In August and September of 2019, Royal Road and Hemco completed an initial 4-hole, 413 meter, exploratory drilling program at Caribe (see press release October 7, 2019); all drill holes intersected gold with significant intersections including:CB-DDH-001 28m at 1.1 g/t goldCB-DDH-002 14m at 1.0 g/t goldCB-DDH-004 18m at 1.0 g/t goldDrill holes CB-DDH-003 and...