Toronto, Ontario–(Newsfile Corp. – June 10, 2019) – Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) (“Romios” or the “Company“) is pleased to announce that diamond drilling has commenced on a 10 km long series of promising electromagnetic (EM) conductors on the Company’s Lundmark-Akow Lake Cu-Au-Ag Project in Northwestern Ontario. These conductors are found within a narrow corridor trending northwest from the high-grade Atim Lake North Cu-Au-Ag volcanogenic massive sulphide (VMS) discovered by Romios in 2017 (see Romios News Release September 19, 2017). Romios’ discovery hole, RG-17-1 (1.9 m @ 2.35% Cu, 1.4 g/t Au and 68 g/t Ag within a >30 m thick exhalative package), was drilled at the southern end of this 10 km long conductive package. The mineralization is associated with a >100m wide, intense VMS style hydrothermal alteration pathway and Romios believes that this VMS system has the potential to host additional massive sulphide deposits along its length. A first pass program of 8 drill holes totalling 1000 to 1500m is planned for June, to be followed by step-out drilling of any mineralized intercepts. This property is within 18 km of an all-weather road and powerline servicing the Musselwhite gold mine, 18 km to the south.
Exploration Resumes on Musselwhite-type Gold Targets
Romios’ field crew has now conducted a focussed program of soil sampling and prospecting along selected portions of the 8 km length of the same banded iron formation (BIF) that hosts the > 7 million ounce Musselwhite gold mine. Analytical results are pending. The company intends to drill a number of short holes into any portions of the BIF that return anomalous gold-in-soil values. Given the proximity to road and power and an existing mine and mill complex, it is expected that even a low grade, open-pit deposit will be economic in this area.
High Grade Gold in Shear Zones
In addition to the gold-in-iron formation and massive sulphide targets, Romios Lundmark-Akow Lake claims cover the shear-hosted Spence showing which returned assays up to 38.6 oz/t Au in 1997. Romios’ exploration crew has completed first pass soil sampling over the showing and two bounding magnetic lows that flank the mineralized area. Detailed work is ongoing in an effort to determine the size potential of this high-grade gold prospect.
The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., VP-Exploration for Romios and a Qualified Person as defined by National Instrument 43-101. John worked at Musselwhite for 12 years as the senior exploration and research geologist and is heading up the summer 2019 exploration program.
About Romios Gold Resources Inc.
Romios Gold Resources Inc., a progressive Canadian mineral exploration company established in 1995, is engaged in precious and base metal exploration primarily focused on gold, silver and copper. It has extensive claim holdings covering porphyry copper-gold prospects in the “Golden Triangle” of British Columbia as well as a 100% interest in the Lundmark-Akow Lake property in Ontario, the LaCorne molybdenum property in Quebec and the Scossa gold property in Nevada. The company also retains a 2% NSR on the Hislop gold property in Ontario.
This News Release contains forward-looking statements which are typically preceded by, followed by or including the words “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans” or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward- looking statements and shareholders are cautioned not to put undue reliance on such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Tom Drivas, President and Director, (tel) 416-221-4124, (fax) 416-218-9772 or (email) [email protected].
John Biczok, P. Geo., Vice-President, Exploration, (tel) 613-410-7877 or (email) [email protected]
Frank van de Water, Chief Financial Officer and Director, (tel) 416-221-4124 or (email) [email protected].
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45440