- Press Releases
TORONTO, ONTARIO, November 4 2019, Romios Gold Resources Inc. (“Romios” or the “Company”) (TSX.V-RG) (OTC-PK: RMIOF) (Frankfurt: D4R) is pleased to announce assays and other results from the summer exploration program on its large claim holdings in the Golden Triangle of northwestern British Columbia. The results confirm and expand the porphyry copper-gold potential of two major prospects – Trek and JW – as well as outlining other high-potential targets.
Romios’ Trek porphyry copper-gold occurrences are 15 km southeast of Teck-Newmont Goldcorp’s 787 million tonne Galore Creek porphyry Cu-Au deposit which is currently undergoing work to update an earlier pre-feasibility study. The Galore plant-site, as proposed in that earlier pre-feasibility study, is immediately adjacent to the Trek project.
The northern portion of the Trek claims cover a partially outlined alkalic porphyry copper-gold occurrence known as the North Zone. Work in previous years included 35 drill holes that returned assays up to 131 metres @ 0.6% Cu, 0.39 g/t Au and 8.5 g/t Ag.
The southern portion of the Trek claims cover several Cu-Au showings over a 2 x 2 km area that are thought to be part of a single large system. Rapidly receding glaciers have exposed a number of pyritic gossans, skarn-type garnet-epidote-pyrite veins, and disseminated pyrite south of the previously documented prospects over a broad area of formerly ice-covered mafic volcanic and intrusive rocks. Assays of 0.2 to 1.0 g/t Au and 76 to 4130 ppm Cu were returned from a brief sampling program in this area. These mineralized features are thought to be related to a buried porphyry-copper system that is largely untested. The company plans ground geophysical and geochemical surveys as the first stage of the program in 2020.
The company’s JW prospect is located 6 km northwest of Galore Creek and covers a partially exposed porphyry style alteration and mineralization system centred on a multiphase granitoid intrusion believed to be about 1 km x 1.3 km in area. High grade gold veins surround the perimeter of this intrusion and both a gold-bearing pyrite alteration zone and copper bearing propylitic alteration zone were discovered in outcrop during a brief visit in 2018. In 2019, disseminated and fracture-controlled copper and gold mineralization was found in multiple phases of the granitoid for 600 metres along the western margin of the pluton: assays ranged from trace to 1.44% copper and 0.22 g/t Au. A variety of quartz-carbonate-sulphide veins within the pluton, ranging from 3 to 30 cm in width, assayed from trace to 1.22% Cu and 10.75 g/t Au. Approximately 1 km to the south, five historic drill holes along the southern periphery of the pluton drilled in 1990 all intersected porphyry copper mineralization grading up to 45 m @ 0.24% Cu and 0.36 g/t Au. The apparent centre of this mineralized pluton is obscured by overburden and will require additional geophysical surveys to define the core of the mineralizing system. An application to undertake geophysical surveys and diamond drilling is currently pending with the BC Ministry of Energy, Mines and Petroleum Resources.
Romios’ JW West claims, staked in 2018, begin 1.5 km west of the JW claim and are underlain in large part by intrusive rocks of the Texas Plutonic Suite, which is associated with precious and base metal mineralization in this region (e.g. Premier and Johnny Mt. mines). Two narrow copper rich veins, 15-20 cm wide, with very high silver values were discovered during this initial examination of the claims; these veins assayed from 240 to 2220 g/t silver (7.7 to 71 oz/t Ag), 0.3-1.3 g/t Au, 0.02-0.3% Cu, and 0.4-2.04% Pb. Future work will focus on locating major structures within and adjacent to this pluton that may host larger vein systems.
The Andrei claims cover a number of base metal prospects exhibiting characteristics of VMS (volcanogenic massive sulphide) systems. Mapping in 2010 by the British Columbia Geological Survey pointed out “indications of an active VMS mineralizing system of regional extent...in these Carboniferous units” on the Andrei claims. Initial examination of one such area located a large area of high-silica felsic volcanic rocks with a small mineralized exposure assaying 0.54% Cu, 0.6% Zn and 32 g/t Ag. Further work is planned to evaluate the potential of this and several other newly discovered prospects on the Andrei claims.
Romios’ Golden Triangle project area consists of 81,991 hectares and is located north of Pretium’s Brucejack mine, KSM’s Seabridge project, and Garibaldi’s Ni-Co discovery; a short distance west of Aben Resources’ Forrest Kerr Gold Project; and south of Teck Resources - Newmont Mining’s Galore Creek porphyry copper project. Crystal Lake Mining has an option on 43,600 hectares of that property with the balance held 100% by Romios.
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 on its properties in the Golden Triangle area, North Western British Columbia. In addition to the properties in the Golden Triangle area, Romios holds a 100% interest in the Lundmark-Akow Lake property in Ontario, the La Corne Property in Quebec and the Scossa Property in Nevada. It also holds a 2% NSR on the Hislop 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) firstname.lastname@example.org.
John Biczok, P.Geo., Vice-President, Exploration, (tel) 613-410-7877 or (email) email@example.com
Frank van de Water, Chief Financial Officer and Director, (tel) 416-221-4124 or (email) firstname.lastname@example.org.
You can view the Previous News Releases item: October 16, 2019, ROMIOS Completes Follow-up Drilling at its High-Grade Gold Discovery on the Lundmark-Akow Lake Project in NW Ontario, assay results are pending
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