Toronto, Ontario – February 14, 2022: Romios Gold Resources Inc. (“Romios Gold” or the “Company”) (TSX.V-RG; OTCQB: RMIOF; Frankfurt: D4R) is pleased to report on the results of two diamond drill holes completed in September 2021 on the Gold-Copper Stockwork target at the Lundmark-Akow Lake project in NW Ontario. These two holes were part of a nine-hole program totalling 1,756 metres, drilled from 8 sites to test a variety of targets across this very large, 7,800-hectare property that is host to at least 4 different types of gold and copper zones.
- The main gold-copper stockwork has appreciable widths and grades across a significant strike length of greater than 125 m and is open down dip and along strike in both directions.
- Broad zones of stockwork veinlet type mineralization were intersected at shallow depths in hole RGR-21-04, assaying up to:
- 3.3 g/t Gold Equivalent (Au Eq) (2.6 g/t Au, 0.39% Cu) over 16.9 metres (Drilled Width / “DW”)
- Including 5.1 g/t Au Eq (4.3 g/t Au, 0.46% Cu) over 9.8 m and 16.9 g/t Au Eq (16.03 g/t Au, 0.54% Cu) over 2.45 m.
- The same mineralized zone was intersected in two drill holes in 2019 (see Map 1 & Table 1 below and News Release December 5, 2019). A parallel, narrower zone grading 5.7 g/t Au and 0.24% Cu over 2.5 m was intersected a further 120 m along strike in hole RGR-21-07.
- Mineralization is developed adjacent to a swarm of quartz-feldspar porphyry (QFP) intrusions which are very abundant, large, and somewhat unique to the NW part of the property.
- The aeromagnetic pattern of this area suggests that the QFP intrusions are very extensive and provides numerous additional drill targets for this type of shallow, potentially open-pitable mineralization.
- The diamond drill rig has been left on the property in order to carry out follow-up drilling in 2022.
“There is a good deal of intriguing mineralization in this project area,” commented Stephen Burega, President of Romios. “Almost every drill hole intersects gold-copper mineralization, often 2 or 3 different types. The majority of this belt of rocks is quite barren so to find a spot under relatively thin overburden cover like northwest Lundmark-Akow where there is such a clustering of mineralization is very encouraging and we believe that this work could lead to a significant discovery”.
Broad stockwork zones of chalcopyrite veinlet type mineralization in relatively fresh volcanic rock were first discovered by drilling in 2019 and now again in 2021 (see Map 1 below). Starting 53.0 m downhole, hole RGR-21-04 intersected 16.9 metres assaying 3.3 g/t Au Eq (2.6 g/t Au, 0.39% Cu), including higher grade intervals of 5.1 g/t Au Eq (4.3 g/t Au, 0.46% Cu) over 9.8 m and 16.9 g/t Au Eq (16.03 g/t Au, 0.54% Cu) over 2.45 m (see Table 1 below). (The True Width of drill intercepts is estimated to be about 70-80% of the drilled width and they are expected to project to the bedrock surface under 5 to 7 m of overburden). This intercept is now the central one of three similar intercepts over a strike length of about 125 m and the mineralization remains open to the SE and NW along strike for some distance. Hole RGR-19-06, drilled 59 m to the SE in 2019, intersected 0.35% Cu over 33.7 m, with gold values ranging from nil to 2.85 g/t Au, beginning just 8 m downhole at the start of bedrock (see Romios news release August 19, 2019). The same zone was intersected in RGR-19-10, drilled 67 m to the NW, and returned 22.6 m @ 2.0 g/t Au Eq (1.2 g/t Au, 0.46% Cu) (including a 3.25 m interval of VMS style mineralization at 1.26% Cu, 2.4 g/t Au).
Table 1: Au-Cu Stockwork intercepts from 2021 and 2019 Drilling
|DDH #||FROM (m)||TO (m)||LENGTH (m)||Au g/t||Cu %||Au Eq g/t|
* The Au Eq formula used for calculations is AuEq g/t = Au g/t + (1.68347 * %Cu) based on prices of USD $1,670 per ounce of gold and USD $4.10 per pound of copper. No adjustments have been made for potential relative differences in metal recoveries.
Map 1: Drill intersections of the gold-copper stockwork zone, NW Lundmark-Akow Lake claims.
The stockworks occur in volcanic rocks adjacent to, and likely related to, large quartz-feldspar porphyry intrusions which are unusually common in the NW sector of the Lundmark-Akow claims. In addition to the main stockwork described above, similar but narrower parallel stockworks were encountered in several of the same holes (Map 1). The individual stockwork veinlets are typically a few centimetres wide but can form dense swarms over a few metres and often have very high individual metal values, e.g., up to 36.9 g/t Au over 0.33 m and 3.54% Cu over 0.68 m. The gold-copper veinlet stockworks have not been a primary focus of the drill programs so far but this latest drilling has now extended one 16 to 33 m wide (DW) Au-Cu zone across a strike length of >125 m. The improved gold values and continued good widths of the stockwork in hole RGR-21-04 have now made these stockworks a viable target on their own. Past geophysical surveys are currently being re-assessed to see if the stockworks can be delineated from the other EM targets in this area prior to drilling in 2022.
The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., VP-Exploration for Romios Gold and a Qualified Person as defined by National Instrument 43-101. In addition to his extensive experience with several major mining companies exploring for a wide variety of ore deposit types across Canada and India, Mr. Biczok spent 12 years conducting exploration and research at the Musselwhite gold mine in NW Ontario.
About Romios Gold Resources Inc.
Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100% interest in the Lundmark-Akow Lake Au-Cu property and 4 additional claim blocks in northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the “Golden Triangle” of British Columbia. Additional interests include two former producers, the La Corne molybdenum mine property (Quebec), a former high-grade gold producer - the Scossa mine property (Nevada), and the Kinkaid Nevada claims covering numerous Au-Ag-Cu workings. The Company also retains an ongoing interest in several properties including a 20% carried interest in five of Honey Badger Mining’s claim blocks in the Thunder Bay silver district of northwestern Ontario; a 2% NSR on McEwen Mining’s Hislop gold property in Ontario; and a 2% NSR on the Newmont Lake Au-Cu-Ag property in BC now owned by Enduro Metals Corp.
For more information, visit www.romios.com
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