Royal Road drills 303.7 metres of 1.1 g/t AuEq at Guintar, Colombia
Royal Road Minerals Ltd. [RYR-TSXV; RRDMF-OTC] reported results from the first three drill holes of its current drilling program at the Guintar copper-gold project in Antioquia department, Colombia.
The Guintar project is part of the Guintar-Niverengo and Margaritas (GNM) project area which comprises the two contiguous Guintar, and Niverengo concession contracts and the neighboring Margaritas concession contract located in the Middle Cauca Valley, approximately 50 km west of Medellin. The titles were acquired through the company’s purchase of Northern Colombia Holdings Limited, an affiliate of AngloGold Ashanti Limited. [AU-NYSE; AGG-ASX; AGD-LSE; ANG-Jo’burg]. The GNM area is subject to a Strategic Alliance Agreement between the company and Mineros S.A. [MSA-TSX]. Under the terms of the agreement, Mineros currently own a 25% interest in the GNM project area and may acquire a further 25% (up to a total 50%) interest by providing the balance of a further US$1.5M in exploration funding. Royal Road Minerals are operators of the Strategic Alliance.
The company has received results from the first three diamond drill holes at its Guintar project. Significant intersections include drill hole GUI-DD-0111 that returned 7.9 metres at 0.9 g/t gold. Hole GUI-DD-012 returned 303.7 metres at 1.1 g/t gold equivalent (to end of hole) (0.7 g/t gold, 4.3 g/t silver and 0.22% copper), including (from 143.0 metres) 62.0 metres at 2.1 g/t tonne gold, 12.4 g/t silver and 0.62% copper.
Hole GUI-DD-013 returned 126.0 metres at 1.4 g/t gold equivalent (0.8 g/t gold, 5.5 g/t silver and 0.34% copper), including (from 120.0 metres) 55.0 metres at 1.5 g/t gold, 10.8 g/t silver and 0.60% copper; and 44.0 metres at 1.1 g/t gold. The company does not have sufficient information to make a determination of the true widths of the drill hole intersections.
Drill hole GUI-DD-012 intersected strongly altered porphyritic intrusive rocks at 93 metres downhole depth. Not applying a cut off, the entire drill hole returned 320.7 meters at 1.1 g/t gold equivalent from surface. This intersection is the first indication of significant porphyry-style, copper and gold mineralization at the Guintar project. Drill hole GUI-DD-013 was located beneath GUI-DD-012 and intersected the biotite-altered intrusive suite with associated mineralization at a down hole depth of 118 metres. The entire drill hole returned 588.3 metres at 0.7 g/t gold equivalent. Deeper gold-only mineralization (44.0 metres at 1.1 g/t gold from 351 meters) may be related to a more amphibole-rich intrusive suite.
“These are very exciting initial results from our Guintar project,” said Tim Coughlin, President and CEO. “They are the product of some very careful geological work which utilized our existing geochemical database to provide vectors into a potential source of the ten square kilometers of alteration and mineralization we observe at surface. Furthermore, coupled with our Margaritas gold project, located just 4 km southeast of Guintar, it now appears as though we are defining a new and underexplored copper-gold district in the Middle Cauca region.”