Royal Road Minerals Receives Drilling Permit for Los Andes Copper-Gold Project; Nicaragua
Royal Road Minerals Receives Drilling Permit for Los
Andes Copper-Gold Project; Nicaragua
Toronto, Ontario--(Newsfile Corp. - December 20, 2018) - Royal Road Minerals Limited (TSXV: RYR) ("Royal Road" or the
"Company") is pleased to announce that it has received permission from the Ministry of Environment and Natural Resources in
Nicaragua to complete two 1000 meter deep drill holes to test the porphyry copper and gold potential of its Los Andes project in
Boaco Department of western Nicaragua.
The permission is a Modification of the Company's current Environmental Permit and provides specifically for the drilling of two
diamond drill holes of no deeper than 1000m vertical depth from two drilling locations at the Company's Carrao prospect area
(Figure 1). The permission is provided for a period of 18-months commencing from the 18th of December 2018.
The Los Andes Copper Gold project forms part of the Company's 50-50 Strategic-Alliance agreement (see press release;
September 6, 2017) with Mineros Nicaragua (a subsidiary of Colombia's Grupo Mineros S.A. MINEROS:CB). The project is
characterized by a 7 kilometer long, strongly altered caldera-controlled "lithocap" which hosts anomalous copper, gold and
pathfinder elements in rock-chip geochemical samples. Previous exploration (Caza Gold - acquired by Royal Road, see press
release; March 15, 2017) was focused principally on testing the gold-potential of the project. Exploratory drilling campaigns
conducted in 2014 and 2015 targeted silicified lithocaps and intersected strong alteration and anomalous copper and gold. In
2015, an airborne geophysical survey was conducted over the area and highlighted a well-defined magnetic anomaly at the
southern limit of the caldera structure, now known as the Carrao prospect area. Three drill holes were drilled in the area. All drill
holes intersected anomalous copper mineralization with one drill hole (QZP-003), intersecting some 150 meters of massive
pyrite, of a style interpreted to be consistent with the upper parts (pyrite-shell) of an underlying porphyry copper-gold system.
Recent modelling and re-interpretation of the geochemical data collected from over 1500 rock samples, together with new soil
geochemical analyses and short-wave Infrared (SWIR) satellite imagery, have highlighted an area of "porphyry core-indicator"
and "porphyry core-specific" minerals and metals supporting the interpretation of an underlying porphyry copper-gold body. The
geochemical and geophysical anomalies indicate that any potentially economic mineralization would be located at a depth in
excess of 200 meters below the surface. The Royal Road exploration team has carefully positioned two scout drill holes to test
the underlying porphyry copper-gold target (see Figure 1).
Figure 1
To view an enhanced version of
Figure 1
, please visit:
https://orders.newsfilecorp.com/files/4008/41786_royalroad1enhanced.jpg
"We are grateful for the support of our local communities and for the hard work of our social and environmental teams who
worked in close collaboration with our partner the Centro de Entendimiento con la Naturaleza, to obtain these drilling
permissions," said Dr. Tim Coughlin, Royal Road's President and CEO. "We look forward to testing the potential of this new
target and hope to commence drilling as soon as possible in 2019."
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
.
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
statements relating to
the
Strategic-
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
Strategic-
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
Strategic-
Alliance,
Mineros
Nicaragua
, 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. Th
ere 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