Margaritas, located in the Anza mining district, about 50 kilometers (km) west of Medellin, was initially acquired as an application for title through the company's purchase of Northern Colombia Holdings Limited, an affiliate of AngloGold Ashanti ( ASX:AGG ) Limited. The Margaritas project, together with the neighboring Guintär and Niverengo project areas, are subject to a Strategic Alliance Agreement between the company and Mineros SA. READ: Royal Road Minerals reports positive results from exploratory drilling at its Caribe gold project in Nicaragua Under the terms of the agreement, Royal Road said Mineros currently owns a 25% interest in the Guintär-Niverengo and Margaritas project areas and may acquire a further 25% (up to a total 50%) interest by providing a further US$1.5M of exploration funding.