Toronto, Ontario September 3, 2024 - Royal Road Minerals Limited (TSXV: RYR) ("Royal Road" or the "Company") is pleased to announce that it has entered into a binding letter of intent (the “LOI”) with Carbomine SARL (“Carbomine”), which provides the Company with an option to acquire 100% of the Lalla Aziza mining license (“Lalla Aziza”), located in the Kingdom of Morocco.
Lalla Aziza is an underground copper-mine located in Morocco’s Western High Atlas, approximately 90 kilometers southwest of Marrakesh (see Figure 1). Sulphide ore (principally chalcopyrite; see Figure 2) is mined from moderate-dipping, shear-hosted sheeted-sulphides, vein-stockworks and breccia up to 12 meters wide and from three underground levels over a vertical interval of 150 meters. Whole ore is shipped for sale at a cut-off grade of 2.5% copper (Non-JORC compliant, 35 dry-ton ore assay records, minimum 0.99% maximum 5.1% copper).
Lalla Aziza is located at the southwestern extent of Carbomine’s mining license area (see Figure 3). The mineralized shear-hosted vein-stockworks and breccia are nucleated on a carbonaceous schist horizon which extends diagonally in a northeast direction across the license area for approximately 4 kilometers strike length. Small-scale workings and anomalous copper rock-chip samples have been collected by Carbomine along the length of the schist horizon. No exploration drilling has been conducted on the license area.
Royal Road intends to complete mapping, underground and surface rock-chip and soil geochemical sampling with a view to drill-testing potential along-strike and down-dip at Lalla Aziza by early 2025.
Summary legally binding terms of the LOI are as follows:
About Royal Road Minerals:
Royal Road Minerals is a mineral exploration and development company with its head office and technical-operations center located in Jersey, Channel Islands. The Company is listed on the TSX Venture Exchange under the ticker RYR and on the Frankfurt Stock Exchange under the ticker RLU. The Company’s mission is to apply expert skills and innovative technologies to the process of discovering and developing copper and gold deposits of a scale large enough to benefit future generations and modern enough to ensure minimum impact on the environment and no net loss of biodiversity. The Company currently explores in the Kingdoms of Saudi Arabia and Morocco. More information can be found on the Company’s website www.royalroadminerals.com.
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.
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-looking statements") describing the Company's future plans and the expectations of its management that a stated 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, 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, the Alliance, the intention to form a joint venture, enter into a related agreement and establish Newco and, more generally, 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 the Company's exploration plans.
The Company cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. There is no guarantee that the anticipated benefits of 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 the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
Contact
Royal Road Minerals Limited
+44 1534 887166
In Colombia Royal Road Minerals operates through its wholly-owned Colombian companies Minerales Camino Real SAS founded in 2015 and Exploraciones Northern Colombia SAS acquired from previous owners in 2019. In Argentina Royal Road Minerals operates through its wholly owned Argentinian company, Minerales Camino Real Argentina. In Saudi Arabia and Morocco the Company operates through its 50% owned Saudi Arabian registered subsidiary, Royal Road Arabia.
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