(MENAFN- Investor Ideas) Royal Road Minerals Limited (TSXV: RYR) ("Royal Road" or the "Company") is pleased to announce results of infill soil geochemical sampling and to provide an update on the drill-permitting process at its Alouana copper-gold polymetallic project in the Kingdom of Morocco.
The right to acquire the Alouana project is held by Royal Road Arabia Limited ("RRA"). RRA is a Saudi Arabian joint-venture company owned on a 50-50% partnership basis by Royal Road and MIDU Company Limited ("MIDU"). MIDU is a Saudi Arabian investment holding company, headquartered in Jeddah, with interests across various sectors including mining, industrial, real estate development and utilities. In October 2023, RRA entered into an option agreement to acquire up to 100% of Izughar Resources S.A.R.L, the Moroccan company holding title to the Alouana licenses (see Press Release, October 17, 2023).
The Alouana Project Area comprises 6 exploration licenses located in Morocco's Eastern Region and totaling 84 square kilometers (see Figure 1). Small-scale mining commenced at Alouana at the beginning of the last century. Approximately 40 underground and open-pit copper-gold polymetallic workings have been identified from within the project area. Underground mines are developed on predominantly steep, northeast-dipping vein-breccia bodies up to 3 meters wide and open-pit mines are developed on shallow, southwest-dipping shear and cleavage parallel zones of unknown total thickness.
Figure 1
The host rocks to copper-gold and polymetallic mineralization at Alouana are primarily lower Paleozoic age schists which have been intruded by Permian age granitic rocks and related porphyry dykes. Granite underlies and has altered and contact metasomatized the schistose sequence (see Figure 2). Copper, gold and polymetallic mineralization (silver, bismuth, tungsten and zinc) has been emplaced within a broad antiformal structure, in the hangingwall of the granite, in shear zones oriented parallel to shallow-dipping cleavage (in the OPZ; see Figure 2) and also in steeply dipping northwest and northeast striking quartz-barite vein and breccia bodies (VBZ and EBZ). Over 250 grab and channel rock-chip samples have been collected from Alouana with analytical results returning up to 21% copper (minimum 0.001% and average 1.31%), gold returning up to 5.9 grams per tonne (minimum 0.01 and average 0.2 grams per tonne) and other elements such as silver returning up to 493.8ppm (minimum 0.5ppm and average 22.3ppm) and tungsten up to 0.4% (minimum 30ppm and average 365ppm).
RRA has completed soil geochemical sampling, geological mapping, grab and channel rock-chip sampling and ground magnetics across the Alouana Main Area (see Press Release, February 27, 2024). Initial soil geochemical sampling comprised 1718 samples which were collected from 200-meter spaced lines on 50-meter sample intervals. Results mapped out an approximately 2-kilometer-long ridge-top copper anomaly corresponding to the Open Pit Zone (OPZ) and a newly identified area known as the Hilltop Zone (HTZ) where there is no evidence of historic workings (see Figure 2). To better locate drill holes and target on-surface and potentially shallow-concealed (open-pittable) mineralization at the OPZ and HTZ, Royal Road conducted infill geochemical soil sampling for a final grid comprising a central area of 100-meter spaced lines, sampled on 50-meter intervals (see Figure 2). The results of the infill sampling have helped refine soil-geochemical anomalies for drilling and importantly, extended the HTZ westwards effectively connecting it with the OPZ and expanding the near surface and open-pittable potential along the hilltop at Alouana (see Figure 2).
Figure 2
An initial 2000-meter scout drilling program has been planned at Alouana and drill permitting is currently underway. The permitting process is advancing well, subject to meeting schedules and timing which are pre-established by the relevant authorities.
"This new infill soil geochemical data has extended and connected the already intriguing HTZ westward towards the OPZ where we have good exposure and control" said Tim Coughlin, Royal Road's President and CEO. "Exposure along the HTZ is limited due to shallow soil and colluvial cover which may explain the absence of historical workings in the area. Our hope is that the shallow-dipping shear-zone and cleavage parallel mineralization that is evident in small scale open-pits at the OPZ, continues southeast along the hilltop to the HTZ. We are anxious to drill-test this theory and also to test the strike extent and true thickness of vein-breccia bodies at the foot of the hill in the CBZ and EBZ areas."
About Royal Road Minerals:
Royal Road Minerals is a mineral exploration and development company with its head office and technical-operations center located in Jersey, Channel Islands. The Company is listed on the TSX Venture Exchange under the ticker RYR and on the Frankfurt Stock Exchange under the ticker RLU. The Company's mission is to apply expert skills and innovative technologies to the process of discovering and developing copper and gold deposits of a scale large enough to benefit future generations and modern enough to ensure minimum impact on the environment and no net loss of biodiversity. The Company currently explores in the Kingdoms of Saudi Arabia and Morocco. More information can be found on the Company's website .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary statement:
This news release contains certain statements that constitute forward-looking information and forward-looking statements within the meaning of applicable securities laws (collectively, "forward-looking statements") describing the Company's future plans and the expectations of its management that a stated result or condition will occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or developments in the Company's business or in the mineral resources industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements include all disclosure regarding possible events, conditions or results of operations that is based on assumptions about, among other things, the Alliance, the intention to form a joint venture, enter into a related agreement and establish Newco and, more generally, future economic conditions and courses of action, and assumptions related to government approvals, and anticipated costs and expenditures. The words "plans", "prospective", "expect", "intend", "intends to" and similar expressions identify forward looking statements, which may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements of the Company contained in this news release, which may prove to be incorrect, include, but are not limited to the Company's exploration plans.
Quality Assurance and Quality Control:
Sample preparation and analyses are conducted according to standard industry procedures at certified laboratories. Rock-chip samples were bagged in the field for a sample size of approximately 2kg and then sent to AFRILAB-SGS in Marrakech where gold was analyzed by fire assay with an atomic absorption finish and multielement analyses were conducted by ICP-OES. Soil samples were collected 30-60cm below the surface to avoid surficial contamination. Approximately 0.5kg was collected for each sample. For each sample, soil thickness, horizon, surface type, sample collection depth, & field sieve-mesh was recorded. QAQC materials included approximately 5% CRMs, 1% blanks and 1% field duplicates. Infill soil samples were sent to ALS in Sevilla for drying, disaggregation and dry-sieving to -180um. Samples were analyzed using the super-trace low level gold and multi-element package (AuME-St43) with a 25g charge weight. Gold and multielement concentrations are determined from the same solution via a combination of ICP-MS and ICP-AES
The Company cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. There is no guarantee that the anticipated benefits of the Company's business plans or operations will be achieved. The risks and uncertainties that may affect forward-looking statements include, among others: economic market conditions, anticipated costs and expenditures, government approvals, and other risks detailed from time to time in the Company's filings with Canadian provincial securities regulators or other applicable regulatory authorities. Forward-looking statements included herein are based on the current plans, estimates, projections, beliefs and opinions of the Company management and the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
Contact
Royal Road Minerals Limited
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+44 1534 887166
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