The North Caribbean Coast Autonomous region, close to the historic mining town of Rosita and 30km to the southeast of Bonanza and the gold mining operations of Royal Road’s 50-50 strategic partner in Nicaragua, Hemco Mineros Nicaragua.
Caribe is located within Nicaragua’s “Golden Triangle”, a well-known historic mining region located in north-eastern Nicaragua. The area is host to three historic mines, Santa Rita – Rosita (Skarn Cu-Au), La Luz – Siuna (Skarn Au-Cu) and Bonanza (Low Sulfidation Epithermal). Since 1900 the district has produced in excess of 8 million ounces of gold and 12 million ounces of silver from mainly epithermal vein systems, and skarns.
Royal Road’s exploration team discovered the Caribe prospect during reconnaissance follow-up of airborne geophysical anomalies in February of 2018. Topographically the prospect area is relatively planar, outcrop is limited to creek exposures and there is no previous record of mineralization in the area. Initial grab sampling of strongly weathered, argillic-altered and variably-brecciated felsic volcanic float material returned anomalous gold with associated anomalous values in molybdenum and arsenic.
Follow-up deep auger soil sampling was then conducted using a 3-meter long hand-auger to access the residual soil horizon located below the organic and saprolitic layers. Soil-sampling has identified a strongly anomalous area of gold geochemistry of 800 by 500 meters in area. Additionally, 18 small 1 meter square and 2 to 3 meter deep shafts were dug in order to expose bed-rock, assist mapping and collect channel and grab rock-chip samples. The highest grab rock-chip sample collected from these shafts to-date returned 3.5 grams per tonne gold from quartz-veinlet stockwork hosted in strongly oxidized rhyodacite with potassium feldspar alteration.
Shaft and float mapping reveal that gold mineralization is associated predominantly with stringer-style veinlets hosted in strongly argillic-altered felsic volcanic rocks located in the immediate roof and/or adjacent to dioritic intrusive rocks. Due to intense weathering the preservation of hypogene assemblages is highly-localized, but where observed, suggests that hydrothermal alteration is represented by strongly pervasive chlorite, locally pervasive epidote and microcrystalline-quartz-rich stringers with associated potassic feldspar and pyrite.
Royal Road has secured all drilling permits for the project and is planning a scout drilling project at Caribe for late 2019.
We are the largest title and title application holder in Colombia with quality gold and copper exploration projects located in two main regions; The Northern Block, encompassing the prolific Middle Cauca belt, and the Southern Block, incorporating the most prospective and under-explored regions of the Andes.
Operating under the structure of a 50-50 strategic alliance with HEMCO Mineros Nicaragua, we are the exploration largest license holder in the Country. Currently, the exploration work in Nicaragua is focused on drill-testing three drill-permitted gold and copper-gold projects.
Royal Road Minerals controls 100% of six mineral exploration concessions covering the Los Andes District. The total concession package is approximately 18,500 hectares. The project forms part of the...
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