It has been announced by Tim Coughlin that Royal Road Minerals, a company traded on the TSX Venture Exchange under the symbol RYR, and its Saudi Arabian joint-venture company Royal Road Arabia, have been triumphant in a recent competitive Licensing Round. They have secured the rights to the Al-Miyah copper and gold tender area, comprising three Exploration Licenses in the Asir Province of Saudi Arabia, not far from the company’s existing Jabal Sahabiyah Exploration Licenses.
Owned equally by Royal Road and MIDU Company Limited, a Jeddah-based investment firm with a portfolio that spans mining, industry, property development, and utilities, Royal Road Arabia (RRA) is poised to explore the Al Miyah area, which spans roughly 234 square kilometers and is known for historical copper and gold occurrences within upper Proterozoic meta-volcanic and intrusive rocks.
In the late 1960s, the French geological survey BRGM concentrated on volcanic massive sulphide deposits in this region, uncovering mineralized gossans at Al Miyah and Hishashat-al Hawi. Subsequent geophysical surveys by Rio Tinto Zinc’s subsidiary Riofinex Limited in the late 1970s identified significant magnetic anomalies indicative of mineralization, with historic sampling revealing copper content as high as 2.4% and gold at 3.2 grams per tonne.
RRA’s recent scrutiny recognized the Al Miyah region as promising for intrusion-related and structurally controlled mineralization. Fieldwork has not only corroborated the historic potential but also brought to light new gossan occurrences with encouraging geochemical signatures. A grid-based pXRF soil survey further delineated a substantial copper anomaly at the Hishashat-al Hawi prospect, suggesting the potential for extensive mineralization.
The immediate exploration focus for RRA includes the Al Miyah magnetic corridor and the newly discovered shear-zone hosted mineralization at Hishashat-al Hawi. The company’s comprehensive exploration approach will integrate drone-based hyperspectral scanning, magnetometry, radiometry, and field mapping to pinpoint drilling targets.
The selection of RRA in the tender was based on a meritocratic assessment of proposed exploration strategies, expenditure commitments, and the provision of a performance financial guarantee by a recognized Saudi bank. RRA has pledged an investment of USD$3.9 million for the initial two-year exploration phase, with funding contingent on results and the maintenance of the performance guarantee. Additionally, RRA is set to benefit from the Ministry of Industry and Mineral Resources’ Exploration Enablement Program, which offers reimbursements up to USD$1.1 million per license, and is also seeking support from the Saudi Human Resources Development Fund for local employment and training expenses.
Dr. Tim Coughlin, President and CEO of Royal Road, remarked on the significance of reinitiating exploration in Al-Miyah after 45 years, highlighting the evolution of commodity focus and exploration geology. He praised Saudi Arabia’s proactive support for the mining sector and the innovative financial assistance schemes that facilitate such endeavors.
Tareq Telmesani, CEO of MIDU and Chairman of Royal Road Arabia, expressed gratitude for the opportunity to work in Al-Miyah and reaffirmed the joint venture’s commitment to supporting Saudi Arabia’s Vision 2030 and the nation’s mining sector.
Royal Road Minerals is headquartered in Jersey, Channel Islands, and is committed to responsible copper and gold exploration and development, with ongoing projects in Saudi Arabia and Morocco. The company’s methodologies aim to ensure minimal environmental impact and no net loss of biodiversity.
Note: The information presented in this release includes forward-looking statements that involve risks and uncertainties. These statements are not guarantees of future performance and actual results may differ materially from those projected. The company disclaims any obligation to update forward-looking statements as a result of new information, future events, or otherwise.
Quality assurance and control procedures are strictly adhered to, with analyses carried out at certified labs and monitored through certified reference materials, blanks, and duplicate samples. Both rock-chip and soil samples undergo rigorous testing to ensure reliable results.
For further information:
Camila Gutierrez, VP Corporate Development and Communications
Royal Road Minerals Limited
+44 1534 887166
