Royal Road Minerals Provides Exploration Update for Its Jabal Sahabiyah Project, Kingdom of Saudi Arabia
Toronto, May 29, 2024 - Royal Road Minerals Ltd. (TSXV: RYR) ("Royal Road" or the "Company") is pleased to provide an update on its exploration activities at the Jabal Sahabiyah project in the Kingdom of Saudi Arabia. Underlying rights to Jabal Sahabiyah are held by Royal Road Arabia ("RRA"). Royal Road Arabia is a Saudi Arabian joint-venture company owned on a 50-50% partnership basis by Royal Road and MIDU Company Limited (MIDU Company Limited "MIDU" is a part-owned Saudi Arabian subsidiary of MSB Holding Limited "MSB"; see Press Release June 1st, 2023. On May 7th MSB transferred its share ownership and its underlying rights and obligations under the Joint Venture Shareholder Agreement to MIDU).
Jabal Sahabiyah-Copper-Gold-Polymetallic Project
The Jabal Sahabiyah Exploration tender consisting of three contiguous Exploration Licenses was awarded to RRA as Preferred Bidder in a competitive Licensing Round in January of this year (see Press Release January 15, 2024). The license areas are approximately 284 square kilometers in areal extent and located in Asir Province of the Kingdom of Saudi Arabia within the prospective Nabitah-Tathlith belt (see Figure 1).
Figure 1
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Initial detailed field work at Jabal Sahabiyah has focused on two exposed polymetallic gossans, Jabal Muwayqirah and Hanash North (see Figures 2 and 3). Both gossans were originally identified by Riofinex (a subsidiary of Rio Tinto Zinc) in the 1970's and were assessed principally for their potential to host zinc mineralization. Riofinex completed geological mapping, soil sampling and limited shallow open hole percussion drilling on the gossans (see Figures 2 and 3). Geochemical analyses were conducted on-site and were limited to zinc, copper, lead and silver.
Recent field work by RRA has constrained mineralization to shallow-dipping, skarn-style zones of unknown overall thickness or repetition that have been refolded by (F2 or F3 generation) shallow-dipping, shallow-plunging, isoclinal folds (Figures 2 and 3). The result is variably exposed repetitions of "ribbon-style" mineralized bodies with potential for significant lateral extent and near-surface potential. Furthermore, reconnaissance rock-chip samples collected by RRA have returned higher copper and significant gold results (not historically analyzed) from Jabal Muwayqirah including up to 5.0% copper (Mean 1.1%, minimum 0.2% copper), and 7.5 grams per tonne gold (Mean 2.6 and minimum 0.5 grams per tonne gold). At the Hanash North target where rock-chip and soil sampling is currently underway, the fold geometry is interpreted to have repeated mineralization, exposing it again at the southwestern gossan area (see Figure 3) and concealing it under shallow cover towards the east.
Figure 2
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Figure 3
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The company plans to conduct more structural mapping at Jabal Sahabiyah, aided by its drone-borne hyperspectral scanner, magnetometer and radiometer, and to complete grid-based auger soil sampling across both gossan areas with a view to identifying targets for drill-testing before the end of 2024.
"It's been over 50-years since exploration work was conducted at Jabal Sahabiyah. Commodity focus and our understanding of structural geology has changed profoundly since then. At Jabal Muwayqirah and Hanash North, we see structurally controlled exposures of potentially extensive mineralized zones that dip and plunge shallowly beneath recent gravels and cover sequence. This work, coupled with the advances our reconnaissance teams are making on grass roots exploration throughout the Arabian Shield, is further testament to its outstanding exploration potential," said Tim Coughlin, Royal Road's President and CEO.
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.
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. Analytical performance is monitored by means of certified reference materials (CRMs), coarse blanks, coarse and pulp duplicate samples. Grab rock-chip samples were bagged in the field for a sample size of approximately 2kg and then sent to ALS in Jeddah where gold was analyzed by fire assay with inductively coupled plasma spectrometry (ICP) finish and multielement analyses were conducted by four acid digest with ICP-MS finish (ME-MS61). Soil samples were collected 40-80cm below the surface to avoid surficial contamination. Approximately 0.5kg was collected for each sample. For each sample, soil or cover thickness, horizon (where present), sample type, sample collection depth, and field sieve-mesh were recorded. QAQC materials included approximately 5% CRMs, 5% blanks, and 8% field duplicates. Soil samples were sent to ALS Jeddah for drying and dry-sieving to -75um/-200 mesh. Gold analysis was completed by 30g fire-assay with an ICP-MS finish. Super trace multi-element analysis was completed using four acid digest with ICP-MS finish (ME-MS61L). All results were analyzed by our in-house Exploration and Database Management team before import into our geochemical database.
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
Camila Gutierrez VP Business Development and Communications
Royal Road Minerals Ltd.
camila.gutierrez@royalroadminerals.com
+44 1534 887166
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