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Royal Roads & Benton discover new copper sulphide zone on Long Range Joint Venture, Newfoundland
Trading Symbol: RRO - TSX-V Shares Outstanding: 112,127,490 HALIFAX, Sept. 14 /CNW/ - Royal Roads...
About this update from Silver Valley Metals Corp
[{"type":"text","content":"\n\n\n\nTrading Symbol: RRO - TSX-V\nShares Outstanding: 112,127,490\n\n\nHALIFAX, Sept. 14 /CNW/ - Royal Roads Corp. (RRO-TSX-V) ("Royal Roads")\nand Benton Resources Corp. (BTC-TSX-V) ("Benton") are pleased to announce the\ndiscovery of a new copper sulphide zone on the Long Range Joint Venture\nproperty in central Newfoundland. Follow up prospecting on airborne conductive\nanomalies defined by VTEM airborne geophysical surveys completed by Geotech\nLtd. in 2008, has resulted in the discovery of a copper mineralized zone\nconsisting of disseminated to locally banded massive sulphides. Based on\nlimited exposure, the mineralized zone is estimated to be between 20 and 30\nmetres thick and is located adjacent to a 400 metre long VTEM conductive\nanomaly previously described by Geotech Ltd., as "a relatively strong\nconductor consistent with massive sulphides". The mineralized zone is\nperipheral to the conductive anomaly's axis which lies beneath a lake.\nAlthough bedrock exposure along the lake shore is limited, 14 variably\noxidized bedrock grab samples were taken, with six of the samples returning\nassays of greater than 0.20% copper, with a high value of 1.77% copper. A\ndrilling program is currently being planned.\n\n\nOther conductive anomalies examined by prospecting elsewhere on the\nproperty have returned encouraging results considered favourable for the\ndiscovery of nickel-copper magmatic sulphides as well as polymetallic\nvolcanogenic massive sulphides. Among these are anomalies, where grab samples\ncollected from float believed to be locally derived, have returned assays of\nup to 0.75% nickel and 0.64% copper. Additional fall programs are currently\nbeing planned for these areas. The Joint Venture has acquired by staking, an\nadditional 13.5 km2 in response to these positive results.\n\n\nThe Long Range project is a 50/50 joint venture between Royal Roads and\nBenton with Royal Roads as the operator. The property is subject to net\nsmelter royalties of up to 2%, of which 1% can be purchased for $1 million.\nPortions of the property are also subject to underlying option agreements\nrequiring cash payments and share issuances for the joint venture to earn a\n100% interest. The project was acquired to explore for magmatic nickel-copper\nsulphide deposits within a previously unexplored area...