Royal Road Minerals Limited (CVE:RYR) has expanded its presence in the exciting La Llanada gold district in Colombia - via a new exclusivity agreement.
It has struck a binding Letter of Intent over the Mina La Maria gold project, which lies around four km west of the group's La Golondrina and La Redención gold projects in the La Llanada gold district of Nariño Province, southern Colombia.
It can now exclusively conduct exploration and legal due diligence on the property for three months from July 9 this year.
Tim Coughlin, Royal Road’s president and chief said: "We are delivering on our plan of consolidating and expanding our presence in this remarkable gold district.
“La Maria is the third such agreement we have made in La Llanada in the last ten months.
"Every time we advance such exclusivity arrangements to full option agreements we make valuable new local partners and stakeholders which we believe are vital components of a successful and sustainable exploration and development programme.
"We are excited about the vein-hosted gold potential at La Maria and also intrigued by the chance of finding what may be bulk-tonnage, pegmatite-hosted gold mineralization at the project”.