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By: AllPennyStocks.com
Canada is a land rich in minerals, and fewer areas of this country are as rich
as its youngest province, Newfoundland and Labrador. At least one aggressive
junior miner is taking advantage of these opportunities and cashing in on them.
Royal Roads Corp. (TSX-Venture:RRO), based out of Windsor, Nova Scotia, told
investors in the second week of June about new assay results from its 100% owned
Buchans North volcanogenic massive sulphide ("VMS") property in Buchans, on
what’s known (appropriately) as “The Rock”.
RRO assayed core samples drilled on what’s been called hole H-1030, and found
24.85% zinc, 10.75% lead, 2.65% copper, 212.9 g/t silver, and 1.48 g/t gold over
2.38 metres core length, including 32.40% zinc, 14.50% lead, 2.70% copper, 218.6
g/t silver, and 1.64 g/t gold over 1.19 metres core length. The samples were
taken from archived drill core stored within the Government of Newfoundland and
Labrador's core storage facility in Buchans.
The Buchans North prospect was discovered by previous mine operators Asarco, in
the early 1950's, who found rich results in a number of drill holes. In last
year’s final fiscal quarter, RRO completed an initial two-hole diamond drill
program designed to assess the Buchans North prospect and test for possible
extensions into areas where large accumulations of high-grade massive sulphides
may be discovered. Mineralization ranged up to 218.6 grams per ton silver, up to
32.40% zinc, 10.75% lead, 15.5% copper, and 2.92 g/t gold.
Royal Roads is a resource company based in Atlantic Canada and is primarily
focused on exploring and developing mineral properties in the famous historic
Buchans camp, formerly home to one of Canada’s richest base metal mines, having
produced over 16 million tonnes of ore grading over 23% combined base metals
with significant gold and silver credits.
In the middle of Buchans lies other RRO properties, such as Tulks North, which
comprises 641 mineral claims covering 16,075 hectares, and the nearby Long Range
JV, half-owned by RRO, with the other half owned by Benton Resources Corp. (TSX-Venture:BTC),
which covers 381 square kilometres, only recently recognized as being
prospective for nickel-copper-sulphides.
The news about the new assays on Buchans gave a bit of oomph to RRO’s stock
price, which climbed almost 10% on June 7 to six cents, putting it in the middle
of a 52-week trading range that peaked at 13 cents shortly before 2010 dawned,
contrasted to a gulch of 2.5 cents in the middle of June 2009. With the stock
market demonstrating their fair share of volatility, the progress exhibited by
RRO should make investors sit up and take notice.
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