- Press Releases
TORONTO, ONTARIO (October 25, 2012) -- Romios Gold Resources Inc. (TSX.V -RG) ("Romios" or the "Company") is pleased to announce results from its diamond drill program at the Northwest Zone. This is the second set of drill results, comprising two of 14 holes drilled this summer on Romios' Newmont Lake Project, located in the Golden Triangle mineralized district in Northwestern British Columbia.
Tom Drivas, President and CEO, comments: "Drill hole intersections of gold-bearing sulphide mineralization over widths greater than those encountered historically combined with the identification of a geophysical anomaly along strike from the Northwest Zone and the recognition of a new gold-bearing horizon (Northwest Deep Horizon), collectively illustrate the potential for an increase in the size of the existing Northwest Zone. Successes from the 2012 exploration program continue to highlight the Newmont Lake Project as one of the most prospective opportunities within the area due to the widespread occurrence of multiple styles of mineralization and proximal location to developing infrastructure".
In a Press Release dated March 27, 2007 Romios announced a NI 43-101 inferred resource at the Northwest Zone of 1.406 M tonnes grading approximately 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 at the then existing commodity prices. Using a base case gold equivalent cut-off grade of 2 g/t AuEq, this equated to an in-situ metal content of 200,000 ounces of gold, 6,790,000 pounds of copper and 291,000 ounces of silver at the time the calculations were carried out. Mineral Resources have not demonstrated economic viability and therefore are not Mineral Reserves.
Drill holes NW12-176 and JZ12-14 were designed to confirm historical drill results and to test for new mineralization. Drill hole NW12-176 intersected a wider zone of gold and silver-bearing sulphides than historically reported from within the principle resource area. This zone assayed 1.46 g/t Au, 0.13% Cu, and 6.24 g/t Ag over a continuous interval of 53.70 metres (176.18 feet). Within this zone, higher-grade portions were encountered: an 11.35 metre (37.24 feet) interval assayed 3.99 g/t Au, 0.17% Cu and 2.36 g/t Ag and a further interval of 2.56 metres (8.40 feet) assayed 3.75 g/t Au, 0.26% Cu and 5.03 g/t Ag. Narrower, high-grade zones assaying as high as 17.20 g/t Au and 114.00 g/t Ag were also encountered in these zones.
An Earthprobe resistivity survey carried out during the summer of 2012 discovered a new, highly prospective exploration target along strike of the Northwest Zone. The survey identified a highly conductive anomaly with a vertical dimension of 100 metres and a width of 100 metres recorded at a depth of 350 metres. Two historic drill holes intersected significant gold mineralization within 75 metres east of the new target at depth. Highlights from these two holes include an intersection of 185 g/t Au, 3.28% Cu, and 108 g/t Ag over 0.33 metres (1.08 feet) in drill hole R-08-05 (Press release dated November 26, 2008), and 15.74 g/t Au over 1.5 metres (4.92 feet) in drill hole 90-21 (Gulf International Minerals Ltd., 1990). The location of this anomaly, which coincides with known gold mineralization, indicates significant potential for a target similar to that of the Northwest Zone, or alternately, an extension of the Northwest Zone into the new target area. A complete geophysical analysis announcing the results from this summer's survey at the Northwest Zone is forthcoming.
Drill Holes NW12-176 and JZ12-14 also confirm the existence of the new, gold-bearing "Northwest Deep" horizon, extending over 500 metres (1,640 feet) long by 60 metres (196.8 feet) wide and up to 40 metres (131.2 feet) thick, located only 70 metres (229.6 feet) below the Northwest Zone's principle resource area. JZ12-14 intersected a higher grade interval of 3.56 g/t Au over 2.48 metres (8.14 feet)within 27.93 metres (91.63 feet) that assayed 0.35 g/t Au. NW12-176 intersected 34.76 metres (114.04 feet) that assayed 0.31 g/t Au. Together, these two drill holes plus nine additional holes drilled within the area during Romios' previous exploration campaigns, provide some insight into the overall extent of the new zone and represent a success rate of 11 out of 11 drill holes that have intersected mineralization within the Northwest Deep horizon.
Table 1. 2012 Northwest Zone drill hole composite assay highlights, arranged from north to south. "Northwest Zone" = approximate NI 43-101 inferred resource area; "Northwest Deep" = newly-discovered gold-bearing horizon; "MS" = semi-massive to massive sulphide horizons.
|Hole ID||Zone||From (m)||To (m)||Total (m)||Total (ft)||Au g/t||Cu %||Ag g/t|
|NW12-176||Total Northwest Zone||67.00||120.70||53.70||176.18||1.46||0.13||6.24|
The following represent significant upside potential for the Northwest Zone:
As a matter of procedure, all drill core is cut at the camp using an electric-powered core saw, bagged and sealed for shipping to SGS Minerals for processing in Telkwa, BC. In addition to the laboratory's quality control program, a rigorous on-site quality assurance and quality control program is implemented involving the insertion of blanks, standards and splits to ensure reliable assay results.
Several geophysical surveys and drill assay results from the remaining six of 14 holes (drilled at the Ken Zone) will be released when received and reviewed by the Company. Plan-view maps, cross sections, and more information on the Northwest Zone can be found on Romios' website at www.romios.com/Newmont.asp.
The technical information contained in this press release has been reviewed and approved by Mr. Scott Close, P.Geo, Exploration Manager 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 Galore Creek 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 and Director: (tel) 416-221-4124, (fax) 416-218-9772 or (email) email@example.com
Scott Close, M.Sc, P.Geo., Exploration Manager: (tel) 406-366-3880 or (email) firstname.lastname@example.org
Thomas Skimming, P.Eng, Vice-President, Exploration and Director, (tel) 416-444-0900 or (email) email@example.com
Michael D'Amico, CFO, Investor Relations: (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.
You can view the Next News Releases item: November 13, 2012, Romios Encounters Gold, Copper, Silver And Significant Scandium Mineralization At The Ken Zone, Newmont Lake Project, B.C.
You can view the Previous News Releases item: October 10, 2012, Romios Encounters Widespread Gold, Copper, and Silver Mineralization in its 2012 Drilling Program at the '72 Zone, Newmont Lake Project, in Northwestern British Columbia
You can return to the main News Releases page, or press the Back button on your browser.