The Güintar and Margaritas (GM) concession contract areas were acquired in 2019 through Royal Road’s purchase of Northern Colombia Holdings Limited, an affiliate of AngloGold Ashanti. The concession contracts are subject to a 50-50 exploration joint venture pursuant to a strategic alliance agreement dated March 2, 2020, between Royal Road and Colombian mining company, Mineros S.A. Royal Road is operator of the strategic alliance.
AngloGold-Ashanti commenced work on the GM project area in 2015 and completed two scout drilling campaigns. At Güintar, intersections of skarn and hornfels hosted mineralization were generally thin and low-grade with best results being GUI-DD-009, 28 meters at 0.9 grams per tonne and GUI-DD-006, 12 meters at 1.8 grams per tonne gold. Drilling in the east of the project area (previously known as the Niverengo title and now integrated with Güintar) was focused on skarn-style mineralization and intersected best results of NIV-DD-004; 10m @ 1.6 grams per tonne and 88m @ 0.9 grams per tonne gold. Royal Road completed a scout drilling program on the Niverengo area which returned similar low-grade gold over thin intervals from skarn-style mineralization.
Royal Road commenced drilling at Güintar in July of 2021. With the aim being to test for an underlying intrusive or porphyry-related source to the skarn-hosted gold mineralization which is evident in surface geochemical sampling over an area of more than 8 square kilometers. Drilling successfully intersected porphyry copper-gold-silver mineralization.
Results to-date include:
GUI-DD-012, 303.7 meters at 1.0 grams per tonne gold equivalent (0.8% copper equivalent , including 62.0 meters at 2.1 grams per tonne gold, 12.4 grams per tonne silver and 0.62% copper)
GUI-DD-013, 126.0 meters at 1.4 grams per tonne gold equivalent (1.0% copper equivalent, including 55.0 meters at 1.5 grams per tonne gold. 10.8 grams per tonne silver and 0.60% copper)
GUI-DD-020, 118.0 meters at 1.0 grams per tonne gold equivalent
GUI-DD-021, 181.0 meters at 1.1 grams per tonne gold equivalent (0.8% copper equivalent, including 43.0 meters at 2.4 grams per tonne gold, 8.0 grams per tonne silver and 0.40% 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)
In December of 2021, the Company entered into option agreements with neighboring and immediately contiguous property holders including the El Aleman Mining title area and one title application area. Drilling conducted on the El Aleman title area has returned promising gold results including ALM-DD-001, 80.5 meters at 1 gram per tonne gold, including 18 meters at 3 grams per tonne gold.
 Gold Equivalent Calculation Assumes USD $1850/Oz Gold, USD $25/Oz Silver and USD $4.0/lb Copper. 90% recovery for all metals
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 Nicaragua Royal Road Minerals operates through its wholly owned Nicaraguan company Minerales Camino Real Nicaragua SA (previously Nicaza SA) acquired from previous owners in 2017. In Argentina Royal Road Minerals operates through its wholly owned Argentinian company Minerales Camino Real Argentina founded in 2022.
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