Royal Road Minerals Announces Initial Gold Channel - Sampling Results from the Luna Roja Gold Skarn Project; Nicaragua
Royal Road Minerals Announces Initial Gold Channel -
Sampling Results from the Luna Roja Gold Skarn Project;
Nicaragua
Toronto, Ontario--(Newsfile Corp. - September 25, 2018) - Royal Road Minerals Limited (TSXV: RYR) ("Royal Road" or the
"Company") is pleased to announce initial surface channel rock-chip
sample results from its newly identified Luna Roja Gold
Skarn project in the Golden Triangle region of northeastern Nicaragua.
The Luna Roja prospect forms a part of the Company's 50-50 Strategic-Alliance agreement (see press release; September 6,
2017) with HEMCO Nicaragua (a subsidiary of Colombia's Grupo Mineros S.A. MINEROS:CB) and is located in the highly
prospective Golden Triangle of northeastern Nicaragua (Figure 1), a region characterized by epithermal style gold veins, skarn
and porphyry-style mines that have combined to produce in excess of an estimated 8 million ounces of gold since the early
1900's. HEMCO Nicaragua own and operate the Bonanza gold mine in the Golden Triangle and manage an innovative toll-
treatment program which processes mineralized material from artisanal operations throughout the region. Royal Road Minerals
is operator of the Strategic Alliance.
The Luna Roja project is a newly identified gold-skarn mineralized system represented by a metasomatized sequence of felsic
intrusive and carbonate rocks, overprinted by a low-sulfide, skarn-type alteration characterized by: 1) a strongly oxidized and
well-exposed exo-skarn, developed in marble; and 2) a partially-exposed massive endo-skarn developed in intrusive rocks. Gold
skarn generally occurs as massive bodies with individual outcrops ranging from 2 to 25 meters in width and 2 to 50 meters in
strike length. Skarn bodies are subvertical or dip steeply towards the southwest and where exposed, the skarn system extends
over a known strike distance of 1100 meters and over a width of 380 meters (the system remains open under recent cover
rocks: Figure 1).
Figure 1: Geologic map and rock-chip channel localities. Luna Roja Project, Nicaragua
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4008/38894_figure2.jpg
So far the company has collected 318 continuous rock-chip channels from 50 localities over an area of 550 x 250m across the
project with results presented in Table 1. Where continuous outcrop was present, channels were cut in a northeasterly direction
across the strike of mineralized skarn bodies.
Best results are as follows:
Locality 2 40.65 meters at 2.5 grams per tonne gold
Locality 5 23.5 meters at 5.1 grams per tonne gold
Locality 1 21.85 meters at 1.1 grams per tonne gold
Locality 1 13.4 meters at 0.9 grams per tonne gold
Locality 33 12.0 meters at 7.1 grams per tonne gold
Locality 16 8.4 meters at 7.2 grams per tonne gold
Locality 10 8.3 meters at 3.2 grams per tonne gold
Locality 1 7.25 meters at 2.0 grams per tonne gold
Locality 12 5.05 meters at 2,3 grams per tonne gold
Locality 11 6.5 meters at 4.0 grams per tonne gold
Locality 2 6.15 meters at 8.1 grams per tonne gold
Locality 31 6.0 meters at 6.4 grams per tonne gold
Locality 2 5.5 meters at 12.2 grams per tonne gold
Locality 35 5.2 meters at 7.0 grams per tonne gold
Locality 16 4.8 meters at 9.1 grams per tonne gold
The Company plans to complete further geologic mapping, channel sampling and ground geophysics at Luna Roja before
advancing the project to drilling stage.
"We believe that the Luna Roja project is further testament to the remarkable and undiscovered potential of Nicaragua's Golden
Triangle area" said Tim Coughlin, Royal Road Minerals President and CEO "Together with the nearby Caribe Project, we now
have two promising systems which management believes have the potential to host multi-million ounce gold projects"
Table 1: Luna Roja Project, Rock-Chip Channel Results
To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/4008/38894_figure4.jpg
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
:
Rock-chip
channel samples
are collected continuously over 1-2 meter horizontal intervals (unless otherwise indicated) using
either a rock-saw or rock hammer and chisel. Samples are
prepared and assayed by
independent and ISO accredited
laboratories of Bureau Veritas Minerals (BVM) and their local subsidiaries. Bagged 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
pulverize
d
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 measure
ment 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,
000 ppm Cu, Zn, Pb
or Mn
and 200 ppm W,
are
re-analyzed with four acid digestion and Inductively Coupled Plasma
Emission Spectrometer
(ICP-ES).
Commercial
ly
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% Q
A/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,
g
old 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-l
ooking statements") including e
statements relating to
the
Alliance
and
those describing
the Company
'
s
future plans and the expectations of its management that a state
d 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
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 Alliance, Hemco, and
the
Company's plans
exploration plans
.
The Company
caution
s
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
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
Mineros Nicaragua
, and,
except as required by law,
the Company
do
es
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. Tim
othy
Coughlin
President and Chief Executive Officer
USA-Canada toll free 1800 6389205
+44 (0)1534 887166
+44 (0)7797 742800