Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last Hour:
Last 24 Hours:
Total:

Royal Road Minerals inks deal to formalize mining operations at highly prospective La Esmerelda concession

% of readers think this story is Fact. Add your two cents.


Royal Road Minerals Limited (CVE:RYR) (OTCMKTS:RRDMF) said Wednesday it had signed an agreement with the proprietors of an informal gold mine, La Esmerelda, to establish mining operations.

The agreement, signed through Royal Road’s Colombian subsidiary Exploraciones Northern Colombia SAS (ENC), will enable legal and responsible mining operations to resume at La Esmerelda, located in the Nariño district, Colombia within a concession contract held by AngoGold Ashanti.

Royal Road will return a specified portion of the area under the concession so that a new concession contract can be granted by Colombia’s Ministry of Mines and Energy, the company said in a statement.

READ: Royal Road Minerals hails new agreements to advance the El Gualtal gold mine project in Colombia

In exchange, ENC will receive a quarterly royalty payment equivalent to 3% of the doré extracted from La Esmeralda and has been granted exclusive rights to carry out exploration activities on the concession. ENC also has the right to acquire 70% of the La Esmeralda concession if it hits certain exploration milestones, according to Royal Road, and may be able to increase its royalty to 4% if it assists in further optimizing mine operations and increasing production.

The formalization initiative is similar to one signed with another Nariño-district operation, El Gualtal, in October 2019, according to Royal Road’s CEO Tim Coughlin.

“Once again, we are immensely proud to be executing quality agreements with local stakeholders which are designed to benefit the company, the informal miners, the community, the environment and the Colombian government,” Coughlin said in a statement.

La Esmerelda hosts suphide-rich, vein-stockwork style gold mineralization that correlates with the majority of underground mines and gold mineralization veins hosted in tonalite, a specific type of rock. The project is home to promising initial drill targets, according to Royal Road.

Mining at La Esmeralda was suspended by regulatory authorities in 2016.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Story by ProactiveInvestors



Source: https://www.proactiveinvestors.com/companies/news/917881/royal-road-minerals-inks-deal-to-formalize-mining-operations-at-highly-prospective-la-esmerelda-concession-917881.html
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com

Order by Phone at 888-809-8385 or online at https://www.herbanomic.com


Get our Free Ebook, "Suppressed Health Secrets"  with  Natural Cures THEY don't want you to know!

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Organic Hemp Extract (CBD) - Full Spectrum high CBD (3300mg) hemp extract eases stiff joints, relieves stress and more!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...
    Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.