Royal Road Minerals (CVE:RYR) has raised C$390,000 through a private placing to start exploration at its recently acquired La Golondrina gold project in Colombia.
The Canada-listed junior acquired an option to acquire 100% of La Golondrina earlier this month and aims to prove up a resource of over one million ounces.
Early exploration work at the site will include surveying all accessible underground workings, channel samples and defining targets for drilling.
Royal Road issued 4.875mln shares at a price C$0.08 in the placing.