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Royal Road Minerals keen to get drills turning at Piedra Imán after permit

Last updated: 09:45 26 Oct 2017 EDT, First published: 04:45 26 Oct 2017 EDT

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Piedra Imán is a copper-gold project in Nicaragua

Royal Road Minerals Ltd (CVE:RYR) said it wants to start drilling at the Piedra Imán copper-gold project in Nicaragua as soon as possible.

It comes as a division of the Ministry for Environment and Natural Resources (MARENA) in issued the group with an environmental permit (EP).

The firm will undertake an initial scout drilling program of 10 reverse-circulation drill holes to test potential and help reveal the extent of copper and gold mineralization.

Piedra Imán is a copper and gold project which shares many geological similarities with “cordilleran-style” Iron Oxide Copper Gold (IOCG) systems such as those in Chile and Peru.

The concession lies in the Chinandega district, 200km northwest of Managua, and extends over around 8,000 hectares (Ha) and is in force for a further 20 years.

It was initially explored in the early 1970’s by Noranda Inc, whose work included the drilling of 17 shallow diamond drill holes and the development of one exploration adit.

Noranda’s drilling and underground sampling hit significant widths of copper mineralization including 36.6 meters at 1.13% copper, and 14.8 meters at 1.65% copper.

Samples were only sporadically assayed for gold, but drilling results included one interval of 3.6 meters at 6.3 g/t gold. 

To assess the continuity and local extent of copper and gold mineralization, Royal Road collected horizontal saw-cut channel samples

“With our permits now in place, we intend to mobilize drilling rigs and commence drilling at Piedra Imán as soon as possible” said Dr Tim Coughlin, Royal Road’s president and chief executive.

“When the project was initially drilled by Noranda in the early 1970’s, core recoveries were low, gold was not a principal focus and the Iron Oxide Copper Gold deposit-model was non-existent.

"We are very excited by the potential of this project and committed to ensuring our work exceeds the requirements of MARENA and is exemplary in terms of community engagement and environmental stewardship”.

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