Royal Road Minerals Provides Exploration Update; Colombia
Royal Road Minerals Provides Exploration
Update; Colombia
Toronto, Ontario--(Newsfile Corp. - August 4, 2022) - Royal Road Minerals Limited (
TSXV: RYR
)
("Royal Road" or the "Company") is pleased to provide an exploration update for its projects in
Colombia.
In Colombia, Royal Road owns either directly or by way of rights (see Press Release, March 5, 2019 )
334,000 Ha of application areas and 37,000 Ha of concession contracts in the highly prospective
Andean provinces of Antioquia, Caldas, Nariño and Cauca (Figure 1). Royal Road is committed to a
new model of exploration and mining for a new world, one which reduces environmental impact, benefits
communities and contributes to the development of host countries. Royal Road is a signatory to the
British Embassy's Business and Peace initiative in Colombia, a participant in HRH Prince Charles's
Sustainability Markets Initiative (Terra Carta) and the Company has executed innovative agreements
with post-conflict cooperatives (see Press Release, December 18, 2017), community groups and
informal miners (see press Releases, October 2, 2019; April 22, 2020; April 29, 2020).
The Company aims to discover world class copper and gold deposits and to develop these in
accordance with national and international standards whilst also seeking to push the boundaries of
sustainability performance by identifying new approaches and trialing innovative initiatives to change the
mining paradigm. Royal Road is one of 400 participating companies in Colombia's National Program of
Carbon Neutrality and in 2021, the Company received three awards in recognition of its sustainability
performance (see Press Releases, December 6, 2021; December 15, 2021).
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/4008/132830_Figure%201.jpg
Whereas the Company's principal focus in Colombia has been the development of the exciting Guintar-
Niverengo copper-gold project in Antioquia (see press releases December 14, 2021; April 28, 2022),
since 2019, Royal Road has also conducted extensive regional exploration campaigns, including
systematic drainage sampling and airborne geophysical surveys in both its Northern and Southern
blocks (see Figure 1). This work has identified several prospects of significant interest throughout both
the Eocene porphyry-copper and the Oligo-Miocene copper and gold belts.
La Merced
La Merced is a newly discovered prospect area in Caldas province. The prospect was identified by the
follow-up of systematic drainage geochemical sampling (see Figure 2). The area is represented by
intrusive rocks, predominantly porphyritic diorites and quartz diorites with strong hydrothermal alteration
characterized by sericite + quartz + pyrite (cores) surrounded by kaolinite+ illite + montmorillonite
(haloes). Rock-chip channel samples collected from heavily oxidized outcrops of vein stockwork and
breccia have returned up to 1 m at 9.6 grams per tonne gold (total 209 rock-chip samples, minimum
0.003 grams per tonne, average 0.10 grams per tonne gold) and define an anomalous area of
approximately 0.7 by 1.3 kilometers (see Figure 2). Preliminary interpretation of the La Merced prospect
implies a concealed porphyry-type target with potential for an underground bulk mining type scenario.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/4008/132830_Figure%202.jpg
Northern Cauca
In the Northern Cauca area (see Figure 1), the Company has conducted extensive consultation with local
communities, executed preliminary agreements guided by the principles of Prior Consultation and the
Ethnic Chapter of the 2016 Peace Agreement and collaborated to fly a joint area of interest (AOI) of
approximately 100 square kilometers with airborne magnetics, radiometrics and LIDAR. When coupled
with reconnaissance surface geochemical sampling, this new information has helped identify several
new (sheeted vein-style) gold and/or copper targets for further follow-up work. The Company also plans
to assist with the formalization of informal miners within the AOI and to collaborate on the design and
development of various initiatives, effectively linking responsible mine development with the Colombian
governments aspirations in respect of sustainability and the 2016 Peace Agreement.
Southern Block Reconnaissance
In the very south of the Southern Block (see Figure 1), the Company has conducted joint drainage and
reconnaissance rock-chip exploration programs in collaboration with post-conflict cooperative ECOMUN
(see Press Release, December 18, 2017). These programs have identified previously unknown
porphyry-style copper and gold occurrences which have returned significant initial channel rock-chip
results including 1.5 meters at 6.5% copper, 38.5 grams per tonne gold and 1.0 meter at 7.1% copper,
55.9 grams per tonne gold (total 52 rock-chip samples, minimum 0.01 grams per tonne gold, 10.0 ppm
copper; average 3.4 grams per tonne gold, 0.3% copper). This southern extent of the Eocene porphyry
copper belt in Colombia is deemed to be highly prospective and remains mostly unexplored.
"It is largely accepted that Colombia has the potential to become one of the world's leading copper and
gold producers and that it could be in a position to help redress the World's shortfall in metals which are
critical to the global energy transition" said Dr Tim Coughlin, Royal Road's President and CEO "It is also
a challenging environment in which to operate, requiring significant care in relation to governance,
security and community. By way of our various collaborative arrangements, through our land holdings, our
discovery focus and our innovative approach to community and environment, Royal Road is well-
positioned to create value and to assist Colombia in becoming globally significant as a responsible
source of metals that are crucial for the global energy transition."
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:
Sample preparation and analyses are conducted according to standard industry procedures. Rock
samples are crushed, split and pulverized prior to analysis of Gold by fire assay and Atomic
Absorption and multi-elements by ICP-AES and ICP-MS after four acid digestion. Stream sediment
samples are sieved to -200 mesh and analyzed for Gold by fire assay and ICP AES and multi-
elements by ICP-AES and ICP-MS after aqua regia digestion. Analytical performance is monitored by
means of certified reference materials (CRMs), coarse blanks, coarse and pulp duplicate samples.
Surface samples have been prepared, for the most part, in ALS Chemex preparation lab in Colombia
and analyses have been completed in ALS Chemex Lima.
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") 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, 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 the Company's 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 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 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
+44 (0)1534 887166
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/132830