| Announcement Date: | 2022-12-06 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | NI43-101 |
| Company name: | Royal Road Minerals Ltd. |
| Project name: | Caribe |
| Location: | Nicaragua |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 172m at 1.40g/t Au, from 27m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | and 0.2%Molybdenum Toronto, Ontario–(Newsfile Corp. – December 6, 2022) – Royal Road Minerals Limited (TSXV: RYR) (“Royal Road” or the “Company”) is pleased to provide a drilling update from its Caribe gold discovery in northeastern Nicaragua. The Caribe 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 Mineros S.A., TSX: MSA) and is located in the highly prospective “Golden Triangle” of northeastern Nicaragua. Royal Road Minerals is operator of the Strategic Alliance. Royal Road’s exploration team discovered the Caribe project during reconnaissance exploration in February of 2018. Outcrop at Caribe is concealed under soil and saprolite cover and there is no previous record of mining in the area. In 2019, Royal Road and Hemco completed an initial 4-hole, exploratory drilling program at Caribe which returned promising results for gold. A follow-up diamond drilling program commenced at the project during August of 2020 and has returned encouraging results including; CB-DDH-025, 207.45 meters at 1.1, CB-DDH-016, 100.45 meters at 1.0; CB-DDH-044, 114 meters at 1.0, CB-DDH-017, 90 meters at 1.0 and CB-DDH-015, 63 meters at 1.0 grams per tonne gold (see Press Releases November 10, 2020, February 11, 2021, March 17, 2021, September 1, 2021, August 3, 2022; Table 1) |
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