The Los Andes Project is located in central Nicaragua about 90 kilometers east-northeast of the capital city of Managua near the town of San Lorenzo, Department of Boaco.
The project itself is represented by an arcuate segment of what is interpreted to be a ring-fracture type structure comprised basically of porphyritic dacite and rhyodacite intrusions, dioritic intrusions, and a variably developed discontinuous lithocap represented by argillic and advanced argillic alteration of breccia (probably stratabound) and the volcanic package. The ring fracture structure extends over approximately 6km of strike distance and is hosted in Miocene to Pliocene andesitic flows and tuffs of the lower Coyol Group and overlain by a sequence of younger andesitic to dacitic pyroclastic rocks of the upper Coyol Group.
First Point Minerals claimed the Los Andes property in 2004 but in 2007 relinquished their claims which were then acquired by INECOSA (Inversiones Ecologicas S.A. de C.V.). Caza Gold executed an option to acquire Los Andes from INECOSA in January of 2011 and then following an agreement executed in December of 2014, completed the purchase of 100% of the Los Andes property in November 2015. Royal Road Minerals acquired Caza Gold in 2017.
Caza completed extensive rock-chip sampling across the project (over 5,500 rock-chip samples), terraspec analyses, soil geochemical sampling, geologic mapping, airborne geophysics (April 2015, heliborne magnetics and radiometrics), and drilled 24 diamond drill holes in three campaigns during the years 2012, 2014 and 2015 for a total of 6,269 meters. Rock chip sampling confirmed that the lithocap was anomalous in gold and copper returning up to 6.7g/t gold, but drilling was mostly high level and directed at and just beneath the lithocap itself.
In April and May of 2018 Royal Road commissioned a specialist lithocap geochemical study at Los Andes. The study identified the Carrao prospect at the southern extent of the ring fracture as the highest-temperature area in the district, exhibiting several features indicative of high-temperature fluid flow and metal transport. The study recommended deep (>800m vertical depth) drilling in the area.
In December 2020 and January 2021 Royal Road drilled four drill holes from two drill pads at Carrao. Intersections were subeconomic but anomalous for a high-level lithocap environment including:
QZ‐DDH‐006 66 – 71m 5m @ 0.09% Cu and 82 – 97m 15m @ 0.10% copper
Copper mineralization was hosted in a breccia-type body that is interpreted to be subhorizontal in nature. Royal Road considers these drill holes to have tested the margin of the mineralizing system and is proposing a program of further exploratory drilling in an area topographically and structurally below the targeted area. The extent of further drilling is not anticipated to exceed 1500m in total.