TORONTO, ONTARIO, November 2 2020, Romios Gold Resources Inc. (“Romios” or the “Company”) (TSX.V-RG) (OTC-PK: RMIOF) (Frankfurt: D4R) is pleased to report that the planned field work has been completed on its TREK SOUTH and ANDREI EAST porphyry copper-gold targets in the prolific Golden Triangle area of NW British Columbia, Canada and that the initial geological results are quite encouraging. All 2020 sample assays are pending. The TREK 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 Map 1 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 claims, and cleared a roadway from there to the deposit area across the middle of the TREK claims. The ANDREI EAST site is a new target discovered by Romios in 2019 located 17 km SE of the proposed GCMC mill and 13 km north of Romios’ NorthWest Au-Cu-Ag Zone which is currently under option to, and being actively explored by, Enduro Metals Corp.
The field work was undertaken on Romios’ behalf by geologists from HEG & Associates. This team spent several days on each of the 2 aforementioned sites conducting geological mapping and hyperspectral surveys designed to identify alteration minerals potentially associated with porphyry copper systems.
TREK SOUTH: 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 only 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. An arcuate series of historic high-grade Cu-Au-Ag showings with strong alteration envelopes occurs 400 to 600 m from an inferred pluton margin suggesting that there may be a buried porphyry Cu-Au-Ag system in this area.
Results of the 2020 mapping and hyperspectral survey are now being analysed in detail by experts from HEG, however, the field crew was encouraged by the visual signs of white mica, K-feldspar and biotite alteration, quartz veining, and scattered sulphide mineralization (pyrite>chalcopyrite) over a considerable area. The white mica alteration associated with sulphide mineralization was strongest in the vicinity of the “Toe Zone”, a historic undrilled prospect where past chip samples assayed up to 4.8% Cu, 1.2 g/t Au, and 246 g/t Ag over 0.67 m. The inferred intrusion, the swarm of skarn veins, the alteration minerals, and the high-grade Au-Ag-Base Metal veins are thought to be related to a buried porphyry copper-gold system that is potentially much more accessible than any such system in the region. If the work by HEG confirms this model, an expanded program of detailed mapping, sampling and geophysical surveys will be undertaken in 2021 followed by diamond drilling where warranted.
The ANDREI EAST prospect discovered in 2019 consists of a series of small granitoid plutons surrounded by broad zones of impressive epidote alteration and locally Cu-Au-Ag-Zn enriched swarms of pyritic veinlets up to a few centimetres wide. Grab samples of the veins in 2019 returned assay values ranging from trace to 0.69% Cu, 0.47 g/t Au, 10.5 g/t Ag and 0.13% Zn with locally elevated antimony and molybdenum values. The HEG crew resampled and mapped the previously identified alteration and mineralization and also located an area of chlorite alteration to the south of the 2019 prospect. Analysis of the hyperspectral data and all 2020 sample assays from this area are pending. If the 2020 work supports the possibility of the Andrei East prospect being part of a porphyry copper system then detailed mapping, hyperspectral surveys and geophysics (IP) will be undertaken here in 2021, followed by diamond drilling if warranted.
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, and two former producers - the La Corne molybdenum mine property in Quebec and the Scossa gold mine 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) 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.
Map 1: Location of the TREK, Andrei East and other porphyry copper-gold prospects held by Romios in the northern Golden Triangle, BC