TORONTO, ONTARIO, October 5. 2020, Romios Gold Resources Inc. (“Romios” or the “Company”) (TSX.V-RG) (OTC-PK: RMIOF) (Frankfurt: D4R) is pleased to report that field work has begun on its TREK porphyry copper-gold project in the prolific Golden Triangle area of NW British Columbia, Canada. This property is located 10 km SE of the enormous, >1.1 Billion tonne, Galore Creek porphyry Cu-Au deposits which are owned by a Teck-Newmont JV (“GCMC”) and are in the midst of a multi-year program to bring them to the pre-feasibility study stage (see Maps 1 and 2 appended below). GCMC has largely finished a road from provincial highway 37 to the site of a proposed mill complex 11 km east of the TREK North Zone, and cleared a roadway from there to the deposit area across the TREK claims passing within 2 km of the North Zone. A field exam by Romios in 2019 uncovered a potential porphyry Cu-Au system in a previously unexplored area on the southern TREK claims (see below).
RECENT DISCOVERIES: In 2019 a new zone of skarn-type alteration veins with local copper-gold-pyrite mineralization was located on the southern TREK claims in an area recently exposed by melting snowfields. A sample of one such vein assayed 0.4% Cu, 1 g/t Au and 3 g/t Ag and a sulphidic float sample assayed 1.4% Cu, 3.6 g/t Au and 48 g/t Ag. This type of skarn vein is commonly developed around and over buried porphyry Cu-Au deposits and a past Romios airborne magnetic survey strongly suggests that there is an un-mapped intrusion nearby that is now only partially obscured by a receding snowfield. An arcuate series of historic high-grade showings with strong alteration envelopes occurs 400 to 600 m from the inferred pluton margin. Past sampling results include grab samples up to 809 g/t Ag, 1.5 g/t Au, 1% Cu, 9.1% Pb and 20.5% Zn from the East Zone, multiple grab samples assaying 1.1 g/t to 5.7 g/t Au and 1.8% to 6.1% Cu from the DCP Zone, and high-grade chip samples up to 4.8% Cu, 1.2 g/t Au, and 246 g/t Ag over 0.67 m from the TOE Zone. Several newly revealed prominent gossans were also exposed in 2019 by a receding glacier but could not be reached at that time due to logistical constraints. These gossans, the inferred intrusion, the swarm of skarn veins, and high-grade Au-Ag-Base Metal veins are believed to all be related to a buried porphyry copper-gold system that is potentially much more accessible than any such system in the region.
Romios’ geological contractor for the 2020 program, HEG and Associates, has now begun a field program of geological mapping and hyperspectral surveying (to identify porphyry-type alteration patterns) in order to assess the potential of this new zone on the southern Trek clams. This work will be followed up with geophysical surveys in 2021 and then diamond drilling if warranted.
THE TREK NORTH ZONE is one of the few significant true porphyry copper-gold zones in the region not held by GCMC or Teck. Past drilling by Romios from 2008-2011 partially outlined three large, stacked mineralized zones comprising an anastomosing swarm of intrusive breccias, well mineralized with primary chalcopyrite, pyrite and bornite. No NI 43-101 resource estimate has been calculated as yet, however, the drilling returned impressive intercepts including 131 m grading 0.6% Cu, 0.39 g/t Au and 8.5 g/t Ag. Preliminary 3D wireframes completed in 2009 and 2010 show a series of three stacked, shallow-dipping, high-grade mineralized horizons within a larger lower grade envelope. A Titan 24 geophysical survey completed in 2010 identified a large, deep conductor, 500 m long, 300 m wide and 200 m high across all three lines surveyed at the North Zone. This conductor remains to be tested as does the down-dip projection of the known mineralized lenses.
TREK SOUTHWEST: Numerous underexplored prospects exist on the southwestern Trek claims south of Sphaler Creek including the West Zone and Camp Zone, each of which contain both low-grade bulk tonnage porphyry Cu-Au mineralization and related massive sulphide veins. Historic chip sampling of one such vein at the nearby Gully zone in 1988 returned assays of 5.31% Cu and 8.77g/t Au over 3.6 meters. No systematic exploration has been conducted in this area for at least 10 years and in some cases 30 years. Only 2 drill holes have been drilled on the SW clams, 2 others planned in 2011 were not completed due to the shifting of focus to the North Zone. A comprehensive program of ground geophysical surveys, re-mapping and infill soil sampling is planned for 2021 to bring this area to the drill stage.
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. Mr. Biczok has extensive experience exploring for a wide variety of ore deposit types across Canada and India including skarns and other intrusion-related deposits in BC and Yukon.
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 gold-copper property in NW Ontario, the La Corne molybdenum property in Quebec and the Scossa gold property in Nevada. The company also retains a 2% NSR on the Hislop gold property in the Timmins-Porcupine mining camp Ontario. For more information, visit Romios’ website www.romios.com
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) 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.
Map 1: Location of the TREK and other porphyry copper-gold prospects held by Romios
Map 2: Romios porphyry Cu-Au prospects and major claim holders