Toronto, Ontario–(Newsfile Corp. – October 16, 2019) – Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) (“Romios” or the “Company“) is pleased to announce that the fall diamond drilling program on the company’s Lundmark-Akow Lake claims in NW Ontario has been successfully completed. Seven drill holes totalling 1,345 metres were drilled in the northwest portion of the property in September to follow-up the discovery of a high-grade gold vein (8.64 g/t Au over 4.75 m in hole RGR-19-5; see Romios’ news release dated July 10, 2019) as well as a number of EM conductors along strike from the >7 km long VMS (Volcanogenic Massive Sulphide) type alteration pathway and associated copper-gold-silver horizon (1.9 m @ 2.35 % Cu, 1.4 g/t Au and 68.2 g/t Ag) discovered in past drill programs (see Romios news release dated September 19, 2017).
All seven holes (RGR-19-7 to 13) intersected sulphide horizon(s) that explain the targeted conductor(s), typically pyrrhotite with various amounts of chalcopyrite and often with associated quartz and/or calcite veining. Two holes also intersected some of the unusual, “Red Lake type” open-space filling calcite veins that were previously found in proximity to the gold bearing quartz veins in holes RGR-19-5 and 6. Close-in, follow-up drilling of the gold intercept in hole RGR-19-5 was hampered this summer by flooding of a beaver swamp in this area. A winter program of ground geophysics is now under consideration in order to trace the extent of the gold-bearing vein(s) prior to the next drill program.
Drill core samples have been submitted to Actlabs in Thunder Bay, Ontario for assay. In addition to the diamond drill program in September, detailed soil sampling was conducted at this time over the high-grade Spence gold-copper showing along a linear magnetic low that previously returned highly anomalous copper-in-soil values. Results of these samples will be reported once received and analyzed by the company.
The current drill sites are located 30 km north of Newmont Goldcorp’s Musselwhite gold mine with its all-weather road access and connection to the provincial power grid. Romios has a 100% working interest in the 8,022 hectare (18,823 acre) Lundmark-Akow Lake property, part of which is subject to a 3% net smelter return royalty held by a corporation controlled by the president and CEO of the Company.
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. In addition to his extensive experience exploring for a wide variety of ore deposit types across Canada and India, Mr. Biczok spent 12 years conducting exploration and research at the Musselwhite mine.
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 La Corne 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/48827