The company is undertaking about 3,000m of follow-up drilling aimed at locally extending known gold mineralisation and exploring newly identified and deeper targets identified by ground microgravity. Highlights included 95m grading 1.5 grams per tonne, including 45m at 3g/t.

Drill results support the interpretation that gold mineralisation extends at depth and down plunge towards the northwest at Luna Roja, and what may be a new gold mineralised zone.

"We are still awaiting final results, but at this stage the system remains continuously open along strike to the north and at depth. In the south, where we interpret the system to be down-thrown and offset by faulting, we have yet to drill-test a deep circular gravity high feature," said Royal Road president and CEO Dr Tim Coughlin

"Our plan is to conclude the drilling [1,500m] at Caribe and then return the drill rig to Luna Roja for a further drilling programme."

Shares in Royal Road Minerals are trading at C35c, valuing the company at $91 million.