Royal Road Arabia has entered into an option agreement to acquire 100% of Izughar Resources S.R.L a Moroccan company holding certain exploration titles located within an agreed area of interest, which incorporates the Alouana Copper-gold polymetallic project in eastern Morocco.
The Area of Interest, which includes Alouana, comprises an area of approximately 680 km2 containing Izughar’s wholly-owned exploration licenses is located in the provinces of Taourirt and Guercif, in Morocco’s Eastern Region.
Small-scale mining commenced at the Alouana at the beginning of the last century and some 35 small-scale historic, copper, gold and silver workings have been identified in the license area.
Royal Road Arabia has completed soil geochemical sampling and geological mapping across the Alouana license areas. A total of 1718 soil samples were collected across 100m spaced lines and on 50m intervals. Results mapped out an approximately 2km long ridge-top zone of shallow-dipping layer-parallel style copper mineralization at Alouana.
The Company plans is conducting further rock-chip and channel rock-chip sampling. Ground magnetics and radiometrics at Alouana and elsewhere throughout the area of interest is planned for Q1 2024,with a view to scout-drilling in thereafter. It is anticipated that the Company’s initial focus will be on drill-testing the grade and volume potential of the layer-parallel copper, gold and polymetallic mineralization at Alouana.
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.