The Yuoya Gold Skarn project is located in Nicaragua’s North Caribbean Coast Autonomous region, close to the mining town of Siuna and the historical gold-copper skarn mineralization of La Luz Mine. This project is also 45 kilometers southwest of our Caribe project, in the northeast of Nicaragua.
The project forms a part of the company's 50-50 ‘Strategic-Alliance’ agreement with Hemco Mineros Nicaragua (a subsidiary of Colombia’s Grupo Mineros S.A.), in which Royal Road Minerals is the operator.
Yuoya, located in the highly prospective area of Nicaragua’s Golden Triangle, is a product of Royal Road’s 2018 green field exploration activities. These activities initially consisted of reconnaissance work around both historical gold occurrences and airborne geophysical anomalies.
The geological setting of Yuoya project consists of undifferentiated packages of phreatic and effusive volcanic rocks (uncertain age), which apparent overlaying calcareous and clastic marine sediments of Cretaceous age. Rock assemblages intruded by cretaceous to tertiary granitic intrusions and hosting of hydrothermal (possibly phreatomagmatic) breccias with gold. The input of breccias and the deposition of gold rich mineralization likely occurred either contemporaneously, or prior to, the emplacement of feldspar rich dikes.
Two distinctive groups of matrix-rich breccias are observed within Yuoya. However, both are characterized by: an abundant pyrite-rich matrix, fragments derived from surrounding volcanic rocks and intense alteration associated with argillized or silicified features.
Initial grabs samples, collected from strongly weathered float blocks, returned anomalous gold values in both groups of breccias (Au = 0.04 to 6.80 ppm). Weathered rocks and pilot soils with gold content is commonly correlated to anomalous tungsten values within breccias.
Weathered rocks with anomalous gold content show quartz-pyrite rich mineralization within both the matrix and clasts. Grade is also observed in silicified breccias containing fragments of feldspar rich intrusions.
Intrusions also evidence the development of sheet veinlets. However, during preliminary exploration work, outcrops of these intrusions do not evidence anomalous gold.
In late 2020, a follow-up auger soil sampling program was implemented to better identify regions of anomalous gold. However, soil and laterite cover were highly variable and often considerably greater than 5m depth, hindering the quality of the results. A pilot RAB drilling program is being designed to better define mineralization.