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Royal Road Minerals Ltd.
Summary
| Project: | Piedra Iman | |
|---|---|---|
| Deposit: | Piedra Iman | |
| Location: | Nicaragua | |
| Commodities: | Gold-Copper | |
| Date: | 3/1/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-3-2018: Royal Road Minerals Ltd. announces an Exploration/Drilling Update report for its Piedra Iman deposit at the Piedra Iman project. Drilling results incl. 8m @ 9.3g/t Au from 190m. Toronto, Ontario- (Newsfile Corp. - March 1, 2018) - Royal Road Min | |
| Resources: | x | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Toronto, Ontario- (Newsfile Corp. - March 1, 2018) - Royal Road Minerals Limited (TSXV: RYR) ("Royal Road" or the "Company") reports on drilling results from its recently completed 9-hole reverse-circulation drilling program at its Piedra Imán copper-gold project in northeastern Nicaragua (see Table 1). The Piedra Imán concession area is located in Chinandega District, 200km northwest of Managua via the Pan American Highway. The project forms part of the Company's 50-50 strategic alliance with local partner Hemco, a subsidiary of Grupo Mineros S.A. Colombia's largest gold producer (see press release September 6, 2017). Piedra Imán is a copper and gold project which shares many geological similarities with "cordilleran-style" IronOxide Copper Gold (IOCG) systems such as those which occur in Chile and Peru. The Piedra Imán project was initially explored in the early 1970's by Noranda Inc ("Noranda"). Noranda's work included the drilling of 17 shallow diamond drill holes and the development of one exploration adit. Noranda's drilling and underground sampling intersected significant widths of copper mineralization including DDH-851 (36.6 meters at 1.13% Copper), DDH-876 (14.8 meters at 1.65% Copper), DDH-846 (14.3 meters at 1.42% Copper) and DDH-818 (9.1 meters at 1.50% Copper). Samples were only sporadically assayed for gold, but drilling results included one interval of 3.6 meters at 6.3 grams per tonne gold. Channel results from underground sampling are reported to have returned best results of 52 meters at 6.2 and 50 meters at 6.4 grams per tonne gold. These results were provided in analogue format, compiled by Royal Road, are historic in nature and have not been verified by a qualified person. Noranda abandoned the project due to the onset of hostilities related with the Sandinista revolution in 1974. | |
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