Royal Road Minerals Ltd. [RYR-TSXV; RRDMF-OTC] reported results from a further three diamond drill holes at its Guintar copper-gold exploration project and initial drill results from the immediately contiguous El Aleman option agreement area, 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 approximately 50 km west of Medellin. The titles were acquired through the companyâ€™s purchase of Northern Colombia Holdings Limited, an affiliate of AngloGold Ashanti Limited [AU-NYSE; AULGF-OTC; AGG-ASX; AGD-LSE]. The GNM project is a 50-50 exploration joint venture pursuant to a strategic alliance agreement dated March 2, 2020 between the company and Mineros S.A. Royal Road is operator of the strategic alliance.
Drilling at Guintar commenced in July of 2021 and was aimed principally at testing for an underlying intrusive or porphyry-related source to the gold and copper mineralization which had been intersected in previous drilling and is evident in surface geochemical sampling over an area of more than 10 km2.
Results to-date have been encouraging and include drill hole GUI-DD-012 that returned 303.7 metres at 1.0 g/t gold equivalent (AuEq), (including 62.0 metres at 2.1 g/t gold, 12.4 g/t silver and 0.62% copper), GUI-DD-013, which returned 126.0 metres at 1.4 g/t AuEq, GUI-DD-020 which returned 118.0 metres at 1.0 g/t AuEq and GUI-DD-021 which returned 181.0 metres at 1.1 g/t AuEq, including 43.0 metres at 2.4 g/t gold, 8.0 g/t silver and 0.40% copper), from diorite-hosted, porphyry-style mineralization.
In December of 2021, the company entered into option agreements with neighboring and immediately contiguous property holders, including the El Aleman Mining title area. Drill hole ALM-DD-001 is the first exploratory drill hole to have been completed on the El Aleman property. The drill hole targeted an approximately 200-metre wide, east-west oriented zone of polymetallic veins, hosted in metasedimentary rocks and intersected 80.5 metres at 1 g/t gold, including 18 metres at 3 g/t gold (from 323 metres down hole depth. The mineralization is located approximately 500 metres to the northwest of â€“ and is interpreted to represent a lateral and vertical extension to â€“ the porphyry-style mineralization intersected at Guintar.
The company has also received results from a further three diamond drill holes from the Guintar project. Significant intersections include drill hole GUI-DD-023 that returned 14 metres at 1.2 g/t AuEq (1.0 g/t gold, 2.8 g/t silver and 0.2% copper); 31 metres at 1.1 g/t AuEq (0.8 g/t gold, 3.3 g/t silver and 0.23% copper).
GUI-DD-024 returned 177.0 metres at 1.0 g/t AuEq (0.8 g/t gold, 3.3 g/t silver and 0.16% copper) (Not true width and the company does not have sufficient information to make a determination of the true widths of the drill hole intersections).
Gold and copper mineralization at Guintar is associated with porphyry-style veins hosted in diorite dykes and sills, skarn and siliceous hornfels. From surface and over its entire length, GUI-DD-24 returned 260.35 metres at 0.8 g/t AuEq (0.5% copper equivalent) and extends mineralization at Guintar a further 100 metres towards the west (the drill hole ended in 0.3 g/t gold).
The generally broad distribution of gold and copper mineralization in drill holes at Guintar, together with the style of alteration, the block-dyke and sill relationships and extensive regional roof-type geometry is interpreted to imply potential for a major mineralized probably porphyry-style intrusion at depth. The company is currently drilling to test the deeper (to maximum 1,000 metres) extents of the mineralizing system.
â€œWe are becoming more familiar with the geometry and depth potential of gold, copper and silver mineralization at Guintar,â€ said Dr Tim Coughlin, Royal Roadâ€™s President and CEO. â€œWe believe we are in the aerially extensive roof zone to a major underlying mineralized body and our drilling program has now been adapted to test this concept,â€