{"id":1180069,"date":"2020-04-23T08:30:25","date_gmt":"2020-04-23T13:30:25","guid":{"rendered":"https:\/\/www.mining.com\/?p=1021455"},"modified":"2020-04-23T08:30:25","modified_gmt":"2020-04-23T13:30:25","slug":"royal-road-signs-deal-with-informal-miners-in-colombia","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1180069","title":{"rendered":"Royal Road signs deal with informal miners in Colombia"},"content":{"rendered":"<p>Royal Road Minerals (TSXV: RYR) announced that its 100%-owned Colombian subsidiary, Exploraciones Northern Colombia SAS, entered into a formalization agreement and a related earn-in option and royalty agreement with the owners of the La Esmeralda gold mine, an informal gold operation located in Colombia\u2019s Nari\u00f1o district.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>In a press release, <a href=\"https:\/\/www.mining.com\/royal-road-minerals-to-expand-drilling-campaign-at-colombian-project\/\"  rel=\"noreferrer noopener\" aria-label=\"Royal Road (opens in a new tab)\">Royal Road<\/a> said that La Esmeralda is located within concession contract HH2-12001X, held by AngloGold Ashanti, pending assignment to ENC pursuant to a stock purchase agreement signed in March last year.\u00a0<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Mining at La Esmeralda was suspended by regulatory authorities in 2016. There are no reliable records of previous production<\/p>\n<\/blockquote>\n<\/figure>\n<p>The miner also explained that all the agreements were negotiated and entered into under the framework of the Colombian government\u2019s National Policy for Mining Formalization.<\/p>\n<p>\u201cUnder the terms of the formalization agreement, a specific portion of the area under the concession will be returned by the company so that a new concession contract over such returned area may be granted to La Esmeralda, enabling legal and responsible mining operations to resume at the La Esmeralda gold mine,\u201d Royal Road\u2019s media brief states.<\/p>\n<p>The idea of returning a portion of the concession is to allow informal miners to resume activities as long as they observe environment and workplace health and safety regulations.<\/p>\n<p>According to the company, in exchange, Exploraciones Northern Colombia will receive a quarterly royalty equivalent to 3% of the dor\u00e9 extracted from the La Esmeralda concession and has been granted the sole and exclusive right to carry out all exploration activities on the property and the right to acquire a 70% interest, subject to the completion of certain exploration milestones.\u00a0<\/p>\n<p>Located in the municipality of Los Andes-Sotomayor, La Esmeralda is a shallow-dipping, quartz-carbonate vein and vein-stockwork system located and hosted in the \u2018roof-zone\u2019 and adjacent contact zone of a tonalite intrusion and overlying and adjacent carbonaceous shale sequences. The mine is one of many similar-style gold occurrences in the prolific La Llanada goldfield.&nbsp;<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Jersey-based company is working towards formalizing La Esmeralda gold mine, an informal gold operation in the Nari&ntilde;o district.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1180069"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1180069"}],"version-history":[{"count":7,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1180069\/revisions"}],"predecessor-version":[{"id":1180179,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1180069\/revisions\/1180179"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1180069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1180069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1180069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}