Royal Road Minerals Limited announced the integration of its Guintär and Niverengo mining concession contract areas into one new concession contract area and the consequent renewal of the relevant exploration term for a further 19-years and 11-months. The process of integrating a mining Concession Contract in Colombia requires certain regulatory approvals including the approval of a unique plan of exploration and exploitation (Plan Único de Exploración y Explotación, PUEE) which, amongst other requirements, requires the applicant to prove that mineralization is continuous across relevant concession contract boundaries. The Company's PUEE was approved by the Secretary of Mines of Antioquia in August 2022, and the newly integrated Concession Contract was issued and signed by the Governor of Antioquia on December 19, 2022. Final documentation has now been submitted to the Colombian Mining Agency for registration. The newly integrated mining concession contract IJN-11331 ("Guintär") has an area of 1848 hectares, which incorporates the currently known extent of copper and gold mineralization at GNM. The exploration term for IJN-11331 is 19 years and 11 months commencing from December 26, 2022 and the contract has a total duration of 30-years extendable for a further 30-years. Current water concessions and discharge permits remain valid and unaffected. AngloGold-Ashanti commenced work on the GNM project area in 2015 and completed two scout drilling campaigns. At Guintär, intersections of skarn and hornfels hosted mineralization were generally thin and low-grade with best results being GUI-DD-009, 28 meters at 0.9 grams per tonne and GUI-DD-006, 12 meters at 1.8 grams per tonne gold. Drilling at Niverengo was focused on skarn-style mineralization and intersected best results of NIV-DD-004; 10m @ 1.6 grams per tonne and 88m @ 0.9 grams per tonne gold. Royal Road completed a scout drilling program on the Niverengo title which returned similar low- grade gold over thin intervals from skarn-style mineralization.
Royal Road commenced drilling at Guintär-Niverengo in July of 2021. With the aim being to test for an underlying intrusive or porphyry-related source to the skarn-hosted gold mineralization which had been intersected in previous drilling and is evident in surface geochemical sampling over an area of more than 10 square kilometers. Drilling intersected porphyry copper-gold-silver mineralization. Results to-date have been encouraging and include: GUI-DD-012, 303.7 meters at 1.0 grams per tonne gold equivalent1 (including 62.0 meters at 2.1 grams per tonne gold, 12.4 grams per tonne silver and 0.62% copper), GUI-DD-013, 126.0 meters at 1.4 grams per tonne gold equivalent (including 55.0 meters at 1.5 grams per tonne gold. 10.8 grams per tonne silver and 0.60% copper), GUI-DD-020, 118.0 meters at 1.0 grams per tonne gold equivalent, GUI-DD-021, 181.0 meters at 1.1 grams per tonne gold equivalent (including 43.0 meters at 2.4 grams per tonne gold, 8.0 grams per tonne silver and 0.40% copper).