Royal Road Minerals Ltd (TSX-V:RYR, OTC:RRDMF, FRA:RLU), the TSX Venture-listed exploration company, has reported drill results from its GAM gold-copper-silver project in Colombia's Antioquia Province, with the headline intercept returning 96 metres at 1.1 grams per tonne (g/t) gold equivalent.
The result, from drill hole GUI-DD-032, included a higher-grade section of 35 metres at 1.1 g/t gold, 0.4% copper and 26.3 g/t silver, equivalent to 1.7 g/t gold.
A second hole, CHU-DD-001, drilled from the newly acquired Chuscalita title toward the interpreted porphyry centre, intersected 152.5 metres at 0.6 g/t gold equivalent from 250 metres depth, ending in mineralization.
The three holes, which complete Royal Road's most recent diamond drilling program, confirm a large and continuous mineralised system at the Güíntar area of the project, with the porphyry body (a type of copper-gold deposit formed around ancient volcanic intrusions) extending from surface and dipping southwestward beneath a broad skarn (mineralized rock formed by heat and fluid alteration) envelope.
Multiple holes have ended in mineralization, indicating the system remains open at depth.
New geophysical work, combining drone-borne magnetic surveys with historic induced polarization data, has identified two additional porphyry targets within the GAM project area, named Algodona and Niverengo, defined by coincident magnetic and chargeability anomalies supported by surface geochemistry.
Both targets remain largely undrilled, materially expanding the exploration footprint.
Royal Road CEO Tim Coughlin said the company now recognizes a significant porphyry gold-copper-silver system at Güíntar, with drilling and calibrated geophysics indicating it forms part of a broader, concealed porphyry cluster across the wider GAM area.
"These targets remain largely untested and, together with resource definition work at Güíntar, define the next phase of drilling," he said.
The GAM project is wholly owned by Royal Road and sits approximately 50 kilometres west of Medellín.
It comprises the Güíntar and Margaritas mining concession contracts, originally acquired through Royal Road's purchase of Northern Colombia Holdings, a subsidiary of AngloGold Ashanti, in 2019, plus the El Aleman and Chuscalita titles held under option agreements.
Work is also now underway at the Margaritas area of the project, with further results pending.
Investors welcomed the update, sending shares around 19.5% higher in Canada on Tuesday morning.