TORONTO, ONTARIO, Romios Gold Resources Inc. ("Romios") (TSX-V: RG) is pleased to announce the results of a VTEM® plus time-domain electromagnetic and magnetic survey ("VTEM survey") carried out by Geotech Ltd. ("Geotech") for Romios over its claims in the vicinity of Lundmark and Akow lakes located within the North Caribou Lake greenstone belt in the Patricia Mining Division in northwestern Ontario. EMIT Maxwell Plate Modeling ("Maxwell Modeling") was carried out on several selected VTEM anomalies recorded in the airborne survey where earlier exploration programs identified potential widespread gold mineralization associated with banded iron formations, a deformation zone and an extensive zone of stringer-type copper/gold mineralization, which may reflect a more massive copper sulphide occurrence at depth.
The airborne geophysical survey was carried out using an ASTAR 350 B3 helicopter owned and operated by Geotech over an area encompassing 25 square kilometres along traverse lines 100 metres apart. Geophysical data were recorded over a total of 262 line kilometres in the survey. A number of anomalous zones strongly associated with magnetic anomalies were identified over the property surveyed.
The Maxwell Modeling, which provides detailed information and characteristics of specific geophysical anomalies, was carried out over 5 lines in 2 selected contiguous target areas. Three lines were modeled in the vicinity of the previously announced, extensive zone of stringer-type copper mineralization. The results indicate the presence of one shallow, sub-vertical, highly conductive zone associated with a strong magnetic anomaly. Two other, much deeper zones of conductivity, at least 100 metres in depth and 10 to 20 metres thick, were identified on each side of the shallow conductor, lending credence to management's belief that the extensive stringer-type copper/gold mineralization may reflect a more massive copper sulphide zone at depth. Similarly, in the adjacent area to the east, 2 lines were modeled resulting in the identification of a shallow, sub-vertical conductor approximately 50 metres deep and 12 to 14 metres thick associated with an iron formation. A much deeper conductor was interpreted 350 metres west of the shallow conductor in an area where very little historical information is available.
Tom Drivas, President and CEO of Romios comments: "We are very pleased and excited with the results of the VTEM survey and the Maxwell Modeling that was carried out over specific areas of interest. The results provide a more precise definition of the location of untested deeper conductors. With this new technical information, we will be able to more precisely position drill holes to test these deeper conductors with our next drill program".
Geotech's proprietary VTEM program is the leading time-domain electromagnetic system in the world. The coincident, vertical dipole transmitter-receiver configuration provides a symmetric system response. Any asymmetry in the measured EM profile is due to the conductor dip, not the system or direction of flying. This allows for easy identification of the conductor location and for interpretation of the EM data. Geotech represents that the low noise receiver, plus the high power transmitter yields a low noise system that has the best signal-to-noise ratio of any airborne survey system available commercially.
As previously reported, five holes were drilled to test the copper zone during the winter of 1998-1999. All five drill holes (holes RGRI-99-1 to RGRI-99-5) intersected wide zones of copper and gold mineralization over a strike length of more than 1,000 metres (3,280 feet). One of the more notable holes, RGRI-99-3, intersected 94.0 metres (308 feet) of the stringer-type copper mineralization. Highly anomalous gold values were encountered over 96.32 metres (316.0 feet) within this zone. Similar copper and gold grades over comparable widths were encountered in the other 4 holes. (Please see the Press Release dated March 31, 1999 for the details of the drill results).
In the most southerly exposed portion of the gold-bearing deformation zone on the property, 14 grab and channel samples collected from an outcrop area assayed from a low of 12.26 gpt (0.358 oz/ton) to a high of 1,323.81 gpt (38.612 oz/ton) of gold. (Press Release dated November 24, 1997). This area was covered by the VTEM survey but was not included in the Maxwell Modeling.
The technical content of this news release was reviewed and approved by Thomas Skimming, P.Eng, Vice-President of Exploration and a Director of Romios and a Qualified Person as defined by National Instrument 43-101.
About Romios Gold Resources Inc.
Romios is a progressive Canadian mineral exploration company established in 1995, is actively engaged in precious and base metal exploration in 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 continues the exploration of its Golden Triangle area properties in British Columbia, located between Galore Creek Mining Corporation's large copper-gold-silver deposit and Barrick's high grade gold mine at Eskay Creek.
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
Frank van de Water, Chief Operating Officer and Director, (tel) (416) 221-4124 or (email) email@example.com
Thomas Skimming, P.Eng., Vice-President, Exploration and Director, (tel) (416)-444-0900 or(email) firstname.lastname@example.org