The La Golondrina project in Colombia looks to have the right sort of credentials to survive gold price fluctuations, reckons Royal Road Minerals' (CVE:RYR) chief Dr Tim Coughlin.
In November's newsletter he points to high grades, distribution and tonnage at this site, which contributed to the decision to stop operations at Gömeç.
"We are looking for a large (plus million ounce) high-grade gold deposit at La Golondrina," he said, adding
previous rock-chip sampling returned an average 13g/t gold from 51 samples (up to 64g/t gold) and importantly, continuous grades in the host material to the veins.
"Basically, whether this is ultimately an open-pit or underground operation, there will generally be a sweet spot of high-grade to carry the margin when the gold price is under pressure."
Gömeç, which spans five contiguous exploration licences in the hinterland of Balıkesir province Western Turkey, had not yielded any significant gold results in holes drilled by Royal Road in 2015.
Currently, the firm is conducting channel sampling and laser assisted underground surveying at La Golondrina and the first set of saw-cut channel sample are aimed at being released by mid December.