Toronto, Ontario March 10, 2025 - Royal Road Minerals Limited (TSXV: RYR) ("Royal Road" or the "Company") reports geochemical results from its 2000 meter reverse circulation scout drilling program at the Alouana project in Morocco. The Alouana project is subject to an Option Agreement (the “Agreement”; see Press Release, October 17, 2023) between Royal Road Arabia Limited (“RRA”; a Saudi Arabian joint-venture company owned on a 50-50% basis by Royal Road and MIDU Company Limited) and Izughar Resources S.A.R.L (“Izughar”), the Moroccan company holding title to the Alouana licenses. The terms of the Agreement require that upon completion of a minimum 2000 meters of drilling and receipt of all geochemical results, RRA has the one-time option to pay to Izughar the amount of US$750,000 (the “Option Payment”) in exchange for 90% of Izughar (see Press Release, October 17, 2023).
The Company has completed 22 reverse circulation drill holes for a total of 2036 meters at Alouana (see Figure 1). Drilling intersected predominantly steeply dipping vein-breccia-hosted copper-bismuth-tungsten (± gold, silver and zinc) mineralization with best intersections in copper equivalent[1] returning:
RC24AL003 From 3 to 17 meters 14 meters at 0.9% copper equiv.
RC24AL004 From 12 to 17 meters 5 meters at 0.7% copper equiv.
RC24AL006 From 0 to 8 meters 8 meters at 1.2% copper equiv.
RC24AL007 From 0 to 17 meters 17 meters at 1.0% copper equiv.
RC24AL019 From 43 to 53 meters 10 meters at 1.0% copper equiv.
(Not true width and the company does not have sufficient information to determine the true widths of the drill hole intersections: Table 1)
The principal aim of this drilling program was to test for the continuity of shallow-dipping (shear and cleavage parallel) mineralization at depth (see press release, October 23, 2024). A significant thickness of this style of mineralization, combined with the (conjugate northeast and northwest trending) steep-dipping vein-breccia controlled mineralization, would possibly provide a bulk volume significant enough for an open-pit type mining scenario along the Alouana ridge top. Shallow-dipping mineralization did not continue at depth, or significantly away from the immediate vicinity of steeper-dipping vein-breccia style mineralization and the grade and continuity of mineralization intersected within the vein-breccia bodies is not deemed significant enough to support a standalone underground operation. Additionally, gold results returned from sulphide mineralization were low (maximum 0.6 grams per tonne over a meter; RC24AL019 and RC24AL021) and the highest gold intersection in oxide material was 2.2 grams per tonne over a meter (RC24AL022). Highest individual one meter downhole sample results for other metals were, silver 98.3ppm, copper 3.6%, zinc 3.1%, bismuth 0.5% and tungsten 0.6%.
It is management’s view that this drilling program has sufficiently tested the immediate potential for economic resources at Alouana and that results are not encouraging enough to support further work. RRA has notified Izughar that it does not intend to pay the Option Payment and that it has withdrawn from the Agreement.
“We had well-guided clear objectives for this drilling program and once all requisite permits were received, the program was completed in an efficient, safe and cost-effective manner ” said Tim Coughlin, Royal Road’s President and CEO “Alouana is an intrusion-related copper-polymetallic system and these systems, particularly where a shallow-dipping control to mineralization is evident, remain a priority target for Royal Road”
[1] Copper equivalent calculation assumes 90% recoveries and the following prices: Gold - $2910/ounce, Silver - $33/ounce, Copper $4.80/lb, Zinc $1.30/lb, Bismuth $8.00/lb & Tungsten $9.00/lb
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 www.royalroadminerals.com.
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.
The information in this news release was compiled, reviewed and verified by Dr. Tim Coughlin, BSc (Geology), MSc (Exploration and Mining), PhD (Structural Geology), FAusIMM, President and CEO of Royal Road Minerals Ltd and a qualified person as defined by National Instrument 43-101
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. Percussion-chip samples were sampled on 1m downhole intervals and passed through a 75-25% drill-rig mounted splitter. The 75% sample was placed in rows and analyzed for guidance on-site using a Vanta pXRF tool. The 25% sample was split 50-50% to produce analytical and retention samples of between 1 to 3kg. Samples for analysis were bagged in the field and sent to ALS Seville for analysis of gold by fire assay with an ICP-AES finish (method Au-ICP22) and multielements by four acid digest ICP-MS (method ME-MS61). QAQC materials included CRMs, blanks and duplicates inserted into sample batches on a ration of 1:14.
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
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