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Royal Road Minerals Ltd.
Summary
| Project: | Calibre | |
|---|---|---|
| Deposit: | Calibre | |
| Location: | Nicaragua | |
| Commodities: | Gold | |
| Date: | 10/7/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-10-2019: Royal Road Minerals Ltd. announces an Exploration/Drilling Update report for its Calibre deposit at the Calibre project. Drilling results incl. 28m @ 1.06g/t Au from 30.00m. Toronto, Ontario--(Newsfile Corp. - October 7, 2019) - Royal Road Mine | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Tim Coughlin (Internal) | |
| ABSTRACT: | Toronto, 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). | |
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