Royal Road Minerals Ltd (TSX-V:RYR, OTC:RRDMF) announced results from a further six diamond drill holes at the Guintär copper-gold project in Colombia, which included 126 metres of 0.8 grams per tonne (g/t) gold, 5.5 g/t silver, and 0.3% copper, or 1.3 g/t gold equivalent.
The company also said it has begun further follow-up drilling at Guintär.
“On the basis of current information it seems likely that porphyry style copper and gold mineralization at Guintär continues to the north onto the Guintär North title application area and possibly also at depth, towards the northwest and onto our Niverengo title,” Royal Road Minerals CEO Tim Coughlin said in a statement.
READ: Royal Road Minerals announces results from first three drill holes at Guintär copper-gold project in Colombia
“Previous drilling from the Niverengo area intersected skarn-style mineralization and up to 88 meters at 0.9 grams per tonne gold, as a consequence of last year’s drilling, we now know that such grades hosted in skarn rocks elsewhere within the project area are indicative of intrusive and probably porphyry style mineralization nearby,” Coughlin added.
Royal Road noted the results did not identify any immediate southward extension to the copper and gold mineralization intersected in drill holes.
All drill holes did, however, return relatively long intersections of anomalous gold and copper which, together with detailed logging of alteration intensity and intrusive paragenesis, will assist Royal Road in locating drill holes for the follow-up drilling program that is now underway, the company added.
The Guintär project is part of the Guintär-Niverengo and Margaritas (GNM) project area, which is subject to a Strategic Alliance Agreement between Royal Road Minerals and Mineros SA.
Under the terms of the agreement, Mineros currently own a 25% interest in the GNM project area and may acquire a further 25% (up to a total 50%) interest by providing the balance of an additional US$1.5 million in exploration funding.
Royal Road is an exploration and development company with a focus on discovering new deposits with a strategic focus on Colombia and Nicaragua.
Contact Sean at sean@proactiveinvestors.com