Royal Road Intersects 65 Meters at 6.9 grams per tonne Gold at the Luna Roja Gold-Skarn Project; Nicaragua
Royal Road Intersects 65 Meters at 6.9 grams
per tonne Gold at the Luna Roja Gold-Skarn
Project; Nicaragua
Toronto, Ontario--(Newsfile Corp. - July 13, 2020) - Royal Road Minerals Limited (TSXV: RYR) ("Royal
Road" or the "Company") is pleased to announce initial interim drilling results from its current diamond
drilling
campaign at its Luna Roja gold project in northeastern Nicaragua.
The Luna Roja 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, a region that has produced some eight million ounces of gold since the early 1900's. Hemco
Mineros Nicaragua own and operate the Bonanza gold mine which is located approximately 26
kilometers to the northwest of Luna Roja. Royal Road Minerals is operator of the Strategic Alliance.
In 2019, Royal Road and Hemco completed an initial 17-hole (2472 meter), scout drilling program at
Luna Roja (see press release October 2
nd
2019) . This was the first drilling program to be completed on
the project. Promising results included
; LR-DDH-3, 49m at 2.8 g/t gold (including 22m at 5.3 g/t
gold); LR-DDH-12, 49m at 2.4 g/t gold, (including 18m at 5.4 g/t gold) and LR-DDH-016, 69m at
1.5 g/t gold (including 15m at 2.5 g/t gold)
.
A follow-up drilling program commenced at Luna Roja on May 2
nd
of this year.
The program comprises
some 3000 meters of diamond drilling aimed at locally extending known gold mineralization and
exploring newly identified and deeper ground microgravity targets.
Results have been returned for the first 9 drill-holes (see Table 1; intersections are not true widths and
the Company does not have sufficient information to make a determination of the true widths of the drill
hole intersections of the mineralized zones). Significant intersections include:
LR-DDH-19
30m at 1.2 g/t gold and;
22m at 1.1 g/t gold
LR-DDH-22
65m at 6.9 g/t gold (
including 41 meters at 10.0 g/t gold
)
LR-DDH-23
12m at 2.7 g/t gold
LR-DDH-24
13m at 1.2 g/t gold
Drill hole LR-DDH-22 was drilled to test the downdip extension of LR-DDH-3 (see Figure 1) and passed
through a hanging-wall of low-grade skarn mineralization before intersecting a higher grade breccia
body at depth. The breccia-body effectively extends breccia-controlled gold mineralization from
exposure at surface and over a vertical distance of at-least 120 meters.
Figure 1
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Table 1
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An east-northeast trending fault is interpreted to downthrow the gold-skarn system to the south (see
Figure 1) and defines a "deeper-domain" where skarn mineralization may be concealed at depth below
outcropping marlstone. Low-grade skarn mineralization is evident in this domain at surface in artisanal
workings, in soil geochemistry and in 2019 drilling (LR-DDH-17, 8 meters at 0.9 g/t gold). Microgravity
data collected from this deeper-domain has identified a curved gravity high feature which management
believe may be indicative of higher grade gold-skarn mineralization (possibly endo-skarn) at depth. Drill
holes LR-DDH-20 and 21 were both terminated above this gravity high anomaly (see Figure 2) and
failed to reach objective. Further deeper drilling is planned to fully test the gravity high anomaly.
"These drill results answer key questions in respect of grade distribution and depth-potential at Luna
Roja" said Dr Tim Coughlin, Royal Road's President and CEO. "It appears that the gold-skarn system is
characterized by steeper-dipping, higher-grade, breccia bodies, surrounded by lower-grade gold
mineralization which is oriented broadly parallel to bedding. Both styles of mineralization show promise
in respect of extending gold mineralization at depth, which will be an important parameter in terms of
quantifying plus million ounce potential at Luna Roja".
Figure 2
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
The information in this news release was compiled, reviewed and verified by Dr. Tim Coughlin, BSc
(Geology), MSc (Exploration and Mining), PhD (Structural Geology), FAusIMM, President and CEO of
Royal Road Minerals Ltd and a qualified person as defined by National Instrument 43-101. Royal Road
Minerals employees are instructed to follow standard operating and quality assurance procedures
intended to ensure that all sampling techniques and sample results meet international reporting
standards. More information can be found on Royal Road Minerals web site at
www.royalroadminerals.com
Quality Assurance and Quality Control:
Diamond drill core is cut in half over 1-meter downhole intervals using a core saw. Samples are
prepared and assayed by independent and ISO accredited laboratories of Bureau Veritas Minerals
(BVM) and their local subsidiaries. Bagged 1-meter samples are collected from site and delivered to
BVM sample preparation laboratories in Managua. Samples are prepared using the BVM codes
PRP70-250 plus PUL85, where samples are crushed to 70% less than two millimeters, a riffle split of
250 grams is collected and then pulverized to better than 85 per cent passing 75 microns. Prepared
sample pulps are then sent for analysis to BVM labs in Vancouver Canada. Gold is analyzed by fire
assay with an atomic absorption finish and a measurement range of 0.005 to 10 ppm. Samples over 10-
ppm gold are re-analyzed by fire assay with a gravimetric finish. Multielement concentrations are
analyzed by four-acid digestion and inductively coupled plasma mass spectrometer. Samples over
10,000ppm Cu, Zn, Pb or Mn and 200 ppm W, are re-analyzed with four acid digestion and Inductively
Coupled Plasma Emission Spectrometer (ICP-ES). Commercially prepared standards (gold-copper
pulps), blanks (pulps and coarse chips) and field duplicates are inserted into the sample stream by
Royal Road Minerals for a total of 15% QA/QC to ensure sample precision. In the case of duplicate
analyses of a sample, the average of both analyses is used as the final reported value. Unless otherwise
stated, gold grades are not capped for calculation of length-weighted averages.
Cautionary statement:
This news release contains certain statements that constitute forward-looking information and forward-
looking statements within the meaning of applicable securities laws (collectively, "forward-looking
statements") including statements relating to the Hemco-Mineros Alliance and those describing the
Company's future plans and the expectations of its management that a stated result or condition will
occur. Such forward-looking statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements of the Company, or
developments in the Company's business or in the mineral resources industry, or with respect to the
Hemco-Mineros Alliance, to differ materially from the anticipated results, performance, achievements or
developments expressed or implied by such forward-looking statements. Forward-looking statements
include all disclosure regarding possible events, conditions or results of operations that is based on
assumptions about, among other things, future economic conditions and courses of action, and
assumptions related to government approvals, and anticipated costs and expenditures. The words
"plans", "prospective", "expect", "intend", "intends to" and similar expressions identify forward looking
statements, which may also include, without limitation, any statement relating to future events, conditions
or circumstances. Forward-looking statements of the Company contained in this news release, which
may prove to be incorrect, include, but are not limited to, those related to the Hemco-Mineros Alliance,
Hemco-Mineros, and the Company's plans exploration plans.
The Company cautions you not to place undue reliance upon any such forward-looking statements, which
speak only as of the date they are made. There is no guarantee that the anticipated benefits of the
Hemco-Mineros Alliance and the Company's business plans or operations will be achieved. The risks
and uncertainties that may affect forward-looking statements include, among others: economic market
conditions, anticipated costs and expenditures, government approvals, and other risks detailed from
time to time in the Company's filings with Canadian provincial securities regulators or other applicable
regulatory authorities. Forward-looking statements included herein are based on the current plans,
estimates, projections, beliefs and opinions of the Company management and, in part, on information
provided to the Company by Hemco-Mineros, and, except as required by law, the Company does not
undertake any obligation to update forward-looking statements should assumptions related to these
plans, estimates, projections, beliefs and opinions change.
For further information please contact:
Dr. Timothy Coughlin
President and Chief Executive Officer
USA-Canada toll free 1800 6389205
+44 (0)1534 887166
+44 (0)7797 742800
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