Toronto based Royal Road Minerals Limited (TSXV:RYR), a gold and copper focused mineral exploration and development company, has announced that by way of its recently completed purchase of Northern Colombia Holdings Limited, an affiliate of AngloGold Ashanti Limited, it has received the rights to a newly granted mining concession contract in the departments of Caldas and Risaralda, Colombia.
Royal Road was advised on the 25th of September that Colombia’s National Mining Agency had officially registered mining Concession Contract FG2-08001X which covers epithermal and porphyry style gold occurrences in the municipalities of Filadelfia and Quinchía, located in the company’s “Northern Block” of titles and title applications (Figure 1).
The process of acquiring a mining concession contract in Colombia requires among other things, the Royal Road Minerals to present and fulfill a Social Management Plan and the National Mining Agency to complete a concertation seeking the approval of local authorities, followed by a Public Hearing with local communities. The Public Hearing for Concession Contract FG2-08001X was conducted on August the 6th, 2019 and was attended by representatives of Royal Road. Mining Concession Contracts have an initial term of 30-years which is extendable for a further 30 years.