- Royal Road (RYR) has revealed the first round of assays from its second drill program at the Luna Roja project in Nicaragua
- The company hit 65 metres result 6.9 grams per tonne gold, including 41 metres at 10 grams per tonne gold
- Other results included 30 metres at 1.2 grams per tonne gold, including 22 metres at 1.1 grams per tonne gold
- The program focused on the site’s known gold mineralization and also explored some newly identified deep-ground microgravity targets
- Royal Road (RYR) is up 21 per cent and is trading at C$0.45 per share
Royal Road (RYR) has revealed the first round of assays from its second drill program at the Luna Roja project in Nicaragua.
The junior exploration company posted some impressive assay results, from the second drilling program to be conducted on the site.
The program began on May 2 and comprises 3,000 metres of total drilling.
The company has received the results from the first nine holes on the site, which focused on known gold mineralization, as well as explore some newly identified deeper ground microgravity targets.
The best result was 65 metres at 6.9 grams per tonne gold, including 41 metres at 10 grams per tonne gold.
The company also intersected 30 metres at 1.2 grams per tonne gold, including 22 metres at 1.1 grams per tonne gold.
Other results include 12 metres at 2.7 grams per tonne and 13 metres at 1.2 grams per tonne gold.
President and CEO of Royal Road, Dr Tim Coughlin said the drill results answered key questions the company has regarding grade and distribution at the project..
“It appears that the gold-skarn system is characterised by stepper-dipping, higher-grade, breccia bodies, surrounded by lower-grade gold mineralization which is oriented broadly parallel to bedding.
“Both styles of mineralization show promise in respect of extending gold mineralization at depth, which will be an important parameter in terms of quantifying plus million ounce potential at Luna Roja,” he said.
Royal Road (RYR) is up 21 per cent and is trading at C$0.45 per share at 11:40 am EDT.