Toronto, Ontario–(Newsfile Corp. – April 29, 2019) – Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) (“Romios” or the “Company“) is pleased to announce that the airborne Geotech VTEMTM PLUS survey recently completed at its Lundmark-Akow Lake Cu-Au-Ag Project in Northwestern Ontario has detected a promising series of electromagnetic (EM) conductors over a 6.5 km strike length. These conductors now form part of a 10 km long, high potential target horizon that appears to be the host sequence for the high-grade Atim Lake North Cu-Au-Ag volcanogenic massive sulphide (VMS) discovered by Romios in 2017 (see Romios News Release September19,2017). Both the >100m wide, intense VMS style hydrothermal alteration pathway associated with this discovery and the mineralization itself have a number of fairly unique geological features that are characteristic of several world class, multi-deposit massive sulphide camps like Snow Lake, Manitoba and the giant Singhbhum Copper Belt in India (Romios’ QP has extensive experience in both camps). 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; there is no public record of any other drilling along this target. Romios believes that this VMS system has the potential to host multiple massive sulphide deposits along its entire 10 km length and an extensive drill program is being planned to test these targets in the upcoming summer. This property is within 18 km of an all-weather road and powerline servicing the Musselwhite gold mine.
Renewed Focus on Musselwhite-type Gold Targets
In addition to the considerable Cu-Au-Ag massive sulphide potential on this property, Romios’ Lundmark-Akow claims also cover a largely unexplored 8 km length of the same banded iron formation (BIF) that hosts the > 7 million ounce Newmont Goldcorp Musselwhite gold mine 18 km to the south. Gold mineralization at Musselwhite is controlled by several key features including a near-vertical dip and the presence of several silicate facies (sub-units) of the BIF that host the great majority of the gold. Mapping and a re-assessment of the few historic drill holes on Romios claims from 1998 indicates that both of these key features are present here. Romios’ QP worked for 12 years at Musselwhite where he was senior exploration and research geologist and he will be conducting geological mapping and soil sampling over the Romios iron formation in 2019. 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-pitable deposit will be economic in this area.
High Grade Gold in Shear Zones
In recent years significant gold zones have been discovered at Musselwhite outside the iron formation in sheared schists. Romios claims cover the shear-hosted Spence showing which returned assays up to 38.6 oz/t Au in 1997. The last exploration here in 1998 was focussed on a narrow corridor over the discovery outcrop. A broad area around the Spence showing will be explored in detail in 2019 in an effort to determine the full extent of this mineralization.
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.
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 near Timmins, 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/44385