Romios Gold Resources Inc. (TSX.V -RG) is pleased to announce that it will undertake an exploration program beginning in June on its Newmont Lake Project located in northwestern British Columbia. The program, estimated to cost $1.4 million, will consist of diamond drilling on the Northwest, Ken, '72, and Telena Zones, with additional ground magnetic and magneto-telluric geophysical surveys planned for both the Newmont Lake and Trek projects. In addition, continued prospecting and geochemical sampling will be carried out to test for extensions of existing mineralization and identification of new high-grade gold and copper mineralization on both the Newmont Lake and Trek projects.
Newmont Lake Project: Cu-Au-Ag Porphyry, Au-Cu Skarn
The combined Newmont Lake Project is comprised of the Newmont Lake, Dirk and Andrei properties, which totals approximately 53,889 hectares (133,162 acres). The project hosts multiple porphyry-style mineral showings. Drill testing since 2007 on a number of these showings confirmed massive sulphide, porphyry, and porphyry-related skarn mineralization. The planned exploration program will concentrate on advancing the '72 and Telena Zones, which were first drilled during the summer of 2011 (Press Release dated Oct 19, 2011), and adjacent higher-grade massive sulphide-bearing Ken and Northwest Zones. Results encountered to date include a drill hole intersection of 753 g/t gold, 463 g/t silver, and 0.69% copper over 0.44 metres. This intercept is contained within a wider 14.01 metre (45.95 feet) mineralized interval that assayed 26.44 g/t (.77 oz) gold, 21.36 g/t (.62 oz) silver and 0.21% copper (see Press Release dated Sept 22, 2008). This mineralization style could be similar to the "Valley of the Kings" at the Brucejack deposit, 40 kilometres to the southeast. An existing NI 43-101 inferred resource at the project's Northwest Zone includes 1,406,000 tonnes at a grade of 4.43 g/t Au, 0.22% Cu and 6.4 g/t Ag or a gold equivalent grade (AuEq) of 5.16 g/t. This equates to in-situ contained metal of 200,000 ounces of gold, 6,790,000 lbs. of copper and 291,000 ounces of silver. These resources are reported at a base case gold equivalent cut-off grade of 2 g/t. (Mineral Resources have not demonstrated economic viability and therefore are not Mineral Reserves) (See Press Release dated March 26, 2007)
District infrastructure developments include a planned hydropower facility, road, and communications located approximately 15 kilometres south of the Romios' McLymont Camp (Press Release dated April 3, 2012), making the Newmont Lake Project one of the most accessible in the Golden Triangle.
The BC Ministry of Forests, Mines and Lands postulated that the Newmont Lake Project and the VMS belt discoveries, of which Romios is the primary tenure holder, are "unprecedented opportunities to expand the 'Golden Triangle' to the north, from the Eskay Creek, Snip, and the Rock and Roll deposits towards the large Cu-Au-Ag porphyries in the neighbouring Galore Creek area" which includes Romios' Trek property and the NovaGold/Teck Resources' Galore Creek and Copper Canyon properties (Press Release March 3, 2011). The Golden Triangle extends to the south to include both Seabridge's KSM deposits and Pretium Resources' Brucejack and Snowfield deposits.
Trek Property: Au-Cu-Ag Porphyry
The Trek property, 100% owned by Romios, covers 4,297 hectares (10,618 acres) in the Galore Creek Area adjacent to GCMC's (NovaGold and Teck Resources) Galore Creek Project that contains a large, undeveloped, porphyry-related, copper-gold-silver deposit. Romios has been conducting exploration on the Trek property since 2006 and actively drilling since 2008. Drilling in 2011 at the Trek Property's North Zone identified two additional copper and gold-rich horizons (Press Releases dated September 26, December 14, 2011), as well as structures responsible for controlling the mineralizing fluids for over 5.0 kilometres of strike length.
Our 2012 exploration plans on the Trek property include updating the existing NI 43-101 technical report and implementation of both surface and down-hole geophysics to identify potential extensions of the copper and gold-rich horizons at the North Zone and other sites on the property, in preparation for the next phase of drilling and advancing this BC-style porphyry property.
The technical information contained in this press release has been reviewed by Mr. Thomas Skimming, P.Eng., Vice-President, Exploration and a Director of Romios Gold Resources Inc. 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 headquartered in Toronto and is actively engaged in precious and base metal exploration across North America with a primary focus on gold, silver and copper. Romios has significant property interests in British Columbia, Ontario, Quebec and Nevada. The Company is undertaking extensive exploration work on its Golden Triangle area properties in British Columbia, which are centrally located between Galore Creek Mining Corporation's large copper-gold-silver deposit and Barrick's high grade gold mine at Eskay Creek.
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, CEO and Director: (tel) 416-221-4124, (fax) 416-218-9772 or (email) firstname.lastname@example.org
Thomas Skimming, P.Eng, Vice-President, Exploration and Director, (tel) 416-444-0900 or (email) email@example.com
Mel de Quadros, Ph.D., P.Eng. Director (tel) 416-668-6145 or (email) firstname.lastname@example.org
Michael D'Amico, CFO: (tel) 647-500-6023 or (email) Michael@baystreetconnect.com
Exchange Listings and Symbols: TSX-V:RG, NASDAQ OTC:RMIOF, Frankfurt:D4R.
25 Adelaide Street East, Suite 1010
Toronto, ON Canada, M5C 3A1
Tel: 416-221-4124, Fax: 416 218-9772
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.