Trading Symbol: RRO - TSX-V
Shares Outstanding: 112,127,490
HALIFAX, Nov. 26 /CNW/ - Royal Roads Corp. (RRO - TSX-V) ("Royal Roads" or the "Company") announced it has commenced drilling of a planned two-hole, 700 metre drilling program to test the Buchans North base metal sulphide prospect on its 100% owned Buchans project in central Newfoundland. The program is designed to assess potential for expansion of the zone. The Buchans North prospect was discovered by previous mine operators, Asarco, in the early 1950s. The prospect is located approximately 500 metres northwest of the former Oriental Mine, where Asarco, mined *3.3 million tonnes averaging 14.18% Zn, 7.90% lead, 1.47% copper, 154.0 g/t silver and 1.96 g/t gold between 1935 and 1983. The prospect was last explored by Asarco in 1967 and occurs approximate 290 metres below surface within what is believed to be a less explored, faulted repeat of the same horizon that hosts the Oriental mine. Interpretation of previous drilling suggests the Buchans North horizon may still be open in several directions where further exploration may track mineralization into less explored areas where additional deposits similar to Oriental could be discovered.
Historic drilling at the Buchans North prospect by Asarco in the early 1950's returned assays of 2.74 metres averaging 23.7% zinc, 9.0% lead, 2.6% copper, 147.4 g/t silver and 3.4 g/t gold in drill hole H-885. Royal Roads' first hole is collared 22 metres northwest of hole H-885 and a second hole will be positioned to test for extensions of the zone, based on results obtained in the initial hole.
Further Work Underway
The Company also advises that recently announced additional field programs consisting of line cutting and Induced Polarization (IP) surveys at Buchans are in progress and anticipated to be complete by the end of November. The surveys are designed to detect broad zones of near surface stockwork base metal sulphide mineralization that may be amenable to bulk tonnage open pit mining. The surveys are targeting the undeveloped Lundberg zone as well as the area surrounding the former Oriental mine.
Royal Roads is exploring its 100% owned Buchans project for high grade sulphide deposits similar to those mined by former mine operator ASARCO between 1928 and 1984. Buchans represents one of the highest grade base metal mining camps in Canadian history having produced 16.2 million tonnes(XX) of ore from five orebodies averaging 14.51% zinc, 1.33% copper, 7.56% lead, 126 g/t silver and 1.37g/t gold.
In addition to exploring for new high grade discoveries, the Company is also examining the former mines for potential to host near surface, bulk tonnage mineralization that may be amenable to open pit mining. On November 7, 2008, Royal Roads announced a NI-43-101 compliant Inferred Resource for the Lundberg deposit totaling 20.7 million tonnes grading 2.78% combined base metals comprised of 1.68% zinc, 0.72% lead, and 0.38% copper, including a higher grade Inferred Resource totaling 5.34 million tonnes grading 4.76% combined base metals averaging 3.02% zinc, 1.25% lead, 0.49% copper, 10.27 g/t silver and 0.12 g/t gold (Royal Roads news release dated November 7, 2009).
* Past production figures for the Oriental Mines were obtained from an
article written by Thurlow, G.J., and Swanson, E.A., 1981: Geology and
ore deposits of the Buchans area, central 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. page 123.
(XX) 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
Qualified Person & Sampling Procedure
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.
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.
"Neither 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".
SOURCE ROYAL ROADS CORP.
For further information: For further information: Royal Roads Corp.: Will Felderhof, President & CEO; David Felderhof, Vice-President, (902) 444-3637; www.royalroadscorp.ca