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Royal Road Reports Positive Exploratory Drilling Results from Its Caribe Gold Discovery; Nicaragua
Toronto, Ontario--(Newsfile Corp. - October 7, 2019) - Royal Road Minerals Limited (TSXV: RYR)...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Reports Positive Exploratory Drilling Results from Its Caribe Gold Discovery; NicaraguaScout drilling on soil anomalies intersects gold, drill holes end in gold gradeToronto, Ontario--(Newsfile Corp. - October 7, 2019) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to announce final drilling results from a recently completed 4-hole exploratory diamond drilling program at its Caribe gold project 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). Road Minerals is operator of the Strategic Alliance.Royal Road's exploration team discovered the Caribe prospect during reconnaissance follow-up of airborne geophysical anomalies in February of 2018. Topographically the prospect 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 grab rock-chip sample collected from these shafts returned 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).Royal Road and Hemco have completed an initial 4-hole, 413 meter, exploratory drilling program at Luna Roja (see Table 1 and Figure 1; intersections are not true widths and the Company does not have sufficient information to make a determination of the true widths of the dr...