Trading Symbol: RRO - TSX-V |
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News Release No. 11-09 |
Shares Outstanding: 112,127,490 |
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September 2, 2009 |
ROYAL ROADS INTERSECTS HIGH-GRADE SULPHIDE CLASTS IN BUCHANS
DRILLING CAMPAIGN
ROYAL ROADS TO RECEIVE $200,000 IN GRANTS FROM NEWFOUNDLAND & LABRADOR GOVERNMENT
Royal Roads Corp. (RRO - TSX-V) ("Royal Roads") announced initial results for the first three holes of a planned five hole, 4,000 metre Diamond drilling program designed to test prioritized targets generated by Titan 24 geophysical surveys within the former Buchans Mining Camp in central Newfoundland, Canada.
The most encouraging results are returned in drill hole H-09-3411, located approximately 200 metres southeast of the Clementine prospect, which intersected four high-grade massive sulphide clasts up to 7 centimetres in diameter between 525 and 531 metres in depth. Of particular significance in this intercept is a 0.10 metre section assaying 12.90% lead, 18.60% zinc, 0.69% copper, 55.20 g/t silver, and 0.30 g/t gold (32.19% combined lead%+zinc%+copper%; between 530.8 and 530.9 metres). This intercept occurs within the Clementine Horizon (mineralized breccia horizon) seen in nearby historic holes which may be proximal to thicker debris flow style of mineralization similar to that mined by former mine operators, Asarco, within the former MacLean and Rothermere mines.
Drill hole H-09-3410, located 600 metres south of the Clementine prospect, intersected several mineralized felsic volcanic debris units in the upper 300 metres of the hole, including a section cored between vertical depths of 225 and 244 metres assaying 0.08% lead, 0.34% zinc, 0.01% copper, and 0.84 g/t silver over 8.7 metres (estimated true width). Although low grade, this hole represents a new zone of mineralization which may warrant follow-up drilling.
Approximately 350 metres northeast of the Clementine prospect, hole H-09-3412 was drilled to a total vertical depth of 851 metres and encountered no significant mineralization.
The program�s current drill hole, H-09-3413, is located 350 metres northwest, and down plunge of the former MacLean mine to test a Titan 24 anomaly at 1,125 metres depth. In addition the to Titan 24 targeted anomaly, this drill hole will be following up on results from underground drilling completed by Asarco in 1982 which intersected mineralization 175 metres northwest of the underground mine averaging 4.29% lead, 6.89% zinc, 0.43% copper, 0.31 g/t silver and 35.70 g/t gold over a core length of 3.28 metres, including 1.45 metres assaying 6.05% lead, 0.58% copper, 9.50% zinc, 0.34 g/t silver and 45.60 g/t gold.
Background
The Buchans camp represents one of the highest grade base metal camps in Canadian history where past mining from five orebodies produced 16.2 million tonnes* of ore averaging 14.51% zinc, 1.33% copper, 7.56% lead, 126 g/t silver and 1.37g/t gold. The first three holes of the program were drilled near an undeveloped base metal sulphide occurrence known as the Clementine prospect. The prospect was discovered by Diamond drilling in 1960 and hosts an uncategorized, historical, non compliant NI 43-101 resource of 363,000 tonnes** averaging 4.9% zinc, 2.6% lead, 0.3% copper, and 41.0 g/t silver, which is reported to consist of high-grade, base metal sulphide clasts contained within breccias characteristic of Buchans ores. This resource estimate is historic in nature and should not be relied upon.
In 2007 and 2008, the Company completed deep-seeking Titan 24 DCIP and MT surveys over the most productive portion of the Buchans mining camp and in conjunction with other geophysical and geological data, the Company selected an initial set of drill targets defined by anomalous geophysical responses located within the same package of felsic volcanic rocks that host all previously mined ore in Buchans. All Diamond drill holes of the current program are vertical holes drilled from surface.
* Past production figures for the Buchans Mines were obtained from an article written by Kirkham, R.V., 1987: Introduction. In �Buchans Geology, Newfoundland�, Geological Survey of Canada Paper 86-24, pages 1 to 6.
* * The Clementine resource is an historical estimate of mineralization obtained from an article written by Calhoun, T.A. and Hutchinson, R.W.,1981: Determination of flow direction and source of fragmental sulphides, Clementine deposit, Buchans, Newfoundland. In: Swanson, E.A., Strong, D.F., and Thurlow, J.G., (editors), The Buchans Orebodies: Fifty Years of Geology and Mining. Geological Association of Canada Special Paper 22. The resource estimate is not compliant with NI43-101 standards and a qualified person has not done sufficient work to classify the historical estimate as current mineral resources, the issuer is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
Qualified Person & Sampling Procedure
Drill intercepts quoted are core lengths unless true widths are specified. Logging, sampling and assaying procedures were completed as per Royal Roads� QA/QC protocols as described in Royal Roads� press release dated February 27th, 2007. Paul Moore, M.Sc., P.Geo., (NL), Royal Roads� Vice President of Exploration, is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy.
Royal Roads to Receive Grants to Support 2009/10 Exploration
Royal Roads is also pleased to announce that it has received formal notification that its current drill program as well as the planned Diamond drill program for its Buchans-Clementine West prospect (expected to commence January 2010) have been approved for funding under the Newfoundland and Labrador Junior Exploration Assistance (JEA) Program. As a result, the Company expects to access grants totaling $200,000 in support of these programs. Royal Roads gratefully acknowledges this financial support from the Province of Newfoundland and Labrador.
Forward Looking Statements
Certain information contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Royal Roads believes that the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. Royal Roads cautions that actual performance will be affected by a number of factors, many of which are beyond its control, and that future events and results may vary substantially from what it currently foresees. Royal Roads� forward-looking statements are expressly qualified in their entirety by this cautionary statement.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Royal Roads Corp. |
Will Felderhof, President & CEO |
David Felderhof, Vice-President |
Ph: (902) 444-3637 |
Halifax, Nova Scotia |
www.royalroadscorp.ca |
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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