Royal Roads to receive $200,000 in grants from Newfoundland & Labrador
Trading Symbol: RRO - TSX-V
Shares Outstanding: 112,127,490
HALIFAX, Sept. 2 /CNW/ - 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
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.
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(xx) 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.
(xx) 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.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Royal Roads Corp.: Will Felderhof, President &
CEO; David Felderhof, Vice-President; (902) 444-3637, Halifax, Nova Scotia,