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Royal Road Updates Scout RC Drilling from Its Caribe Gold Discovery; Nicaragua
Toronto, Ontario--(Newsfile Corp. - November 14, 2022) - Royal Road Minerals Limited ( TSXV: R...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Updates Scout RC Drilling from Its Caribe Gold Discovery; NicaraguaToronto, Ontario--(Newsfile Corp. - November 14, 2022) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to provide a reverse circulation (RC) drilling 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 results for gold including CB-DDH-025, 207.45 meters at 1.1, CB-DDH-016, 100.45 meters at 1.0; CB-DDH-044, 114 meters at 1.0, CB-DDH-017, 90 meters at 1.0 and CB-DDH-015, 63 meters at 1.0 grams per tonne gold (see Press Releases November 10, 2020, February 11, 2021, March 17, 2021, September 1, 2021, August 3, 2022). Gold at Caribe is hosted in a shallow northeast dipping volcanic breccia body and is associated with carbonate-sericite alteration and later-stage, pyrite, chalcopyrite and molybdenite mineralized hydrothermal breccia bodies. In September 2021, the Company commenced 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. Results received to-date imply that the gold mineralized system remains open for a further approximately 300 meters towards the southwest and for over 1 kilometer towards the northwest (Figure 1). \"The scout RC drilling program is functioning well and beginning to delineate a significant gold mineralize...