April 18, 2017 – Toronto, Ontario: Royal Road Minerals Limited (TSXV:RYR) (“Royal Road” or the “Company”) is pleased to provide an exploration update from its Los Andes project in Nicaragua.
The Los Andes project is located 90 km from Managua in the Department of Boaco, Nicaragua and is being acquired by Royal Road from Caza Gold Inc (“Caza Gold”, see press release 15th March). Recent field reviews have confirmed what management believes is a compelling drill-ready porphyry copper (± gold) target at Los Andes. Very thorough Terraspec® alteration analyses, conducted by Caza Gold and using a database containing in excess of 4,500 rock-chip samples has identified that the most intense hydrothermal alteration at Los Andes is related to an outcropping porphyry body with strongly pyritic breccia located peripheral to it (see Figure 1).One drill hole, QZP-003 which was drilled in 2014 (see Figure 1), collared into the porphyry body and intersected approximately 130 meters of intensely altered and pyritic breccia which is anomalous in copper and which we interpret as a “pyrite-shell”, possibly related to underlying porphyry-style copper (± gold) mineralization (see Figure 1).
Drill hole QZP-003 is the only drill hole to target the area of most intense hydrothermal alteration at Los Andes. In 2015 Caza completed an airborne geophysical survey over the Los Andes area which highlighted a well-defined magnetic anomaly corresponding to the area of most intense hydrothermal alteration (see Figure 2).
3D modelling of this data implies a magnetic body, possibly related to a potassic core (see Figure 1, C), at a depth of approximately 500 meters below the porphyry outcrop mapped at surface. Royal Road is currently conducting geophysical measurements (magnetic susceptibility) on drill core from QZP-003 with the aim being to better constrain the 3D model and provide a robust porphyry drill-target. The Los Andes target is fully permitted for drill testing. “We are very excited by these observations and the potential of an underlying porphyry copper-gold body at Los Andes” said Dr Tim Coughlin, Royal Road’s President and CEO, “We believe this target, which is technically well-constrained, is simple to test and very much fits our mandate of finding something new, large and exciting”.
Other Information 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 on Forward-looking InformationCautionary statement: This news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate” and other similar words, or statements that certain events or conditions “may” or “will” occur and include statements regarding the Option Agreement. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the hiring and retention of directors and officers, exploration and development of mineral properties, mine site planning and development, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, permitting and licensing and other factors described above and in the Company’s most recent annual information form under the heading “Risk Factors”, which has been filed electronically by means of the Canadian Securities Administrators’ website located at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information please contact:Royal Road Minerals contact:Dr. Tim Coughlin, President and Chief Executive Officer, by phone: USA-Canada toll-free (800) 638-9205, +44 (0)1534 887166, or +44 (0)7797 742800, or by email at firstname.lastname@example.org