Romios Completes First Phase of Exploration on its Copper-Gold Targets in the Golden Triangle, B.C. and Begins Drill Program at Lundmark-Akow Lake, NW Ontario
Toronto, September 7, 2021 - Romios Gold Resources Inc. (TSXV-RG) (OTCQB-RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to report that it has completed an initial month-long program of field work on the Company's extensive claims in the Golden Triangle and that the crew has now mobilised to NW Ontario and has commenced diamond drilling on the Lundmark-Akow Lake gold and base metal prospects. Of particular interest from the work in BC were a number of promising mineralized boulders located on Romios' NorthEast claim block and a broad zone of porphyry-copper style alteration uncovered on the Trek South claims. All assays are pending.
Romios' claims in the Golden Triangle of NW British Columbia cover a number of porphyry copper-gold, shear zone gold, and VMS base metal prospects concentrated near the giant Galore Creek Cu-Au porphyry deposits, owned by a Newmont-Teck JV, or along the partially constructed roadway to those deposits. Work on the Trek South porphyry Cu-Au target outlined an area of continuous strong epidote/propylitic alteration and an overlapping network of pyrite-quartz veinlets at least 1 km across with similarly altered outcrops occurring up to 2 km apart. Skarn-type veins of garnet-epidote-actinolite+/- pyrite are well developed at several locations within this broad alteration zone and minor chalcopyrite and secondary copper staining are scattered throughout the area within the epidote and skarn veins as well as local quartz veins. Much of this newly discovered "South Zone" alteration is on ground only recently exposed by the melting of a glacier and adjacent snowfields. Various geophysical and geochemical survey methods are now under consideration for this exciting target. The partially drilled off Trek "North Zone" is located ~3.5 km NNE of this new discovery and is one of the few appreciable porphyry Cu-Au zones in the area not owned by the Newmont-Teck JV. The >5 km long, NE-trending Trek Fault zone extends from the North to the South Zone area and is flanked by a number of historic prospects that have returned numerous high-grade assays in the past, e.g. 5.3% Cu and 8.77g/t Au over 3.6 metres at the Gully zone. Romios personnel re-sampled and mapped one such zone in 2021, the TOE Zone, and may revise its geological model significantly if the pending assays confirm the field observations.
Romios' NorthEast claim block is located immediately north of the road route to Galore Creek and <2 km from the proposed Galore Creek mill site. The claims were staked by Romios in 2005 to cover the potential source area of mineralized boulders discovered by previous workers in a glacial valley. The central claims are underlain by the highly prospective Lower to Middle Jurassic Hazelton Group metasediments and volcanics in contact with older Stuhini and Stikine Assemblage volcanics and metasediments. Many important ore deposits in the Golden Triangle are located near the base of the Hazelton Group including the high-grade, argillite-hosted Eskay Creek-Au-Ag deposit, Brucejack Au mine and Red Chris Cu-Au mine. The rapid melting of the glacier overlying the edge of the Hazelton Group rocks has now exposed a broad area of pyritic argillites/shales and Romios' crew discovered a number of large mineralized boulders nearby, some with >90% massive sulphide (pyrite with minor chalcopyrite) and others with thick veins of pyrite in shale. Assays are pending.
A number of large quartz veins +/- sulphides up to 1 m wide were found in outcrop on some of the Company's other claim blocks in the area, locally forming impressive stockworks or regularly spaced sets. Assays from these veins are also pending.
Lundmark-Akow Lake Property, NW Ontario: Following a number of delays due to the industry-wide shortage of diamond drillers and the severe forest fire situation in NW Ontario that prevented any field work for several weeks, Romios' geological team and a drill crew are on site and drilling is in process. A series of drill holes is planned to test three VMS horizons, intersected with one hole each in 2019, that returned assays up to 1.26% Cu and 2.4 g/t Au over 3.25 m. Detailed analysis of the geophysical (EM) responses over the VMS zones has since outlined stronger portions of these 300 - 500 m long conductors, as well as a number of even stronger conductors along strike that are yet to be drilled. A high-grade gold-quartz vein intersected in 2019, just 300 m from a VMS Zone, assayed 8.64 g/t Au over 4.75 m, believed to be the most significant gold intercept in the North Caribou Lake greenstone belt outside of the Musselwhite mine property. Several large "Red Lake style, epithermal-looking" calcite veins up to 7 m wide, with sporadic gold values up to 3 g/t Au over 1 m, were found near the gold-quartz vein and their presence suggests that the gold-bearing fluids were part of a deep-seated, potentially widespread system. An airborne VLF-Mag survey undertaken in 2020 by Terraquest on Romios' behalf outlined a series of cross-cutting geophysical trends that may well reflect the controlling structures for the local gold mineralization and these are now high-priority targets for the current drill program as well.
The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., VP-Exploration for Romios Gold and a Qualified Person as defined by National Instrument 43-101. In addition to his extensive experience with several major mining companies 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 gold mine in NW Ontario.
About Romios Gold Resources Inc.
Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, silver and copper. It has 100% interest in the Lundmark-Akow Lake gold-copper property in northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the "Golden Triangle" of British Columbia. Additional interests include two former producers, the La Corne molybdenum mine property (Quebec) and a former high-grade gold producer, the Scossa mine property (Nevada). The Company also retains a 2% NSR on the Hislop gold property and a 2% NSR and 20% carried (to pre-feasibility) interest in the Thunder Bay Silver properties in Ontario. For more information, visit www.romios.com.
This News Release contains forward-looking statements which are typically preceded by, followed by or include 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. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) do not accept 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)
romios@romios.com.
John Biczok, P. Geo., Vice-President, Exploration, (tel) 613-410-7877 or (email)
john.biczok@gmail.com
Frank van de Water, Chief Financial Officer and Director, (tel) 416-221-4124 or (email)
fvandewater@rogers.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95729