- Press Releases
|Romios Gold Resources Inc. (TSX-V:RG) ("Romios" or the "Company") is pleased to announce that it will undertake an aggressive exploration program during the summer of 2008 on its various properties located in the Galore Creek area of northwestern British Columbia. The program, budgeted to cost over $5 million, is currently in the planning stage and is expected to consist of ground geophysical surveys, geological mapping and prospecting, soil and rock geochemical surveys and a minimum of 5000 meters of diamond drilling. The program will commence in June or as early in the summer as snow conditions will allow. |
During the summer of 2007, a hole (R-07-09) was drilled to test an induced polarization anomaly believed to be reflecting an extension of the known NW Zone mineralization. The hole intersected four distinct zones of mineralization associated with silicification and brecciation similar to that which characterizes the NW Zone. The most significant zone was encountered from 10.67m to 30.36m (19.69 metres or 64.60 feet) in the hole, the core was calculated to have a weighted average grade of 7.82 grams/tonne (0.23oz/t) gold), 0.42% copper and 12.45 grams/tonne (0.36 oz/t) silver. Within this interval, two zones of higher grade mineralization were encountered, one between 13.72m and 16.76m (3.04 metres or 9.97 feet) which assayed 19.70 grams/tonne (0.57 oz/t) gold, 0.45% copper and 12.60 grams/tonne (0.37 oz/t) silver and the other between 26.61m and 28.96m (2.35 metres or 7.71 feet) which assayed 27.32 grams/tonne (0.80 oz/t) gold, 0.46% copper and 9.96 grams/tonne (0.29 oz/t) silver. These results imply that the NW Zone has the potential to be much larger than originally thought (see Press Release dated December 18, 2007). Based on information obtained from drill logs, a recently completed computer modeling program and an examination of drill core, the widths of the intersections in drill hole R-07-09 are assumed to be true widths.
Most of the 2008 drilling will be carried out in the vicinity of the NW Zone which, based on earlier drilling, was calculated to contain an inferred resource of 1,406,000 tonnes at a grade of 4.43 gpt Au, 0.22% Cu and 6.4 gpt Ag or a gold equivalent grade (AuEq) of 5.16 gpt that was announced in a press release dated March 26, 2007. This equates to in-situ contained metal of 200,000 ounces of gold, 6,790,000 pounds of copper and 291,000 ounces of silver. These resources are reported at a base case gold equivalent cut-off grade of 2 gpt.
Ground geophysical surveys (induced polarization and TDEM) will be conducted over an area immediately southwest of the NW Zone where, it is suspected, the zone may continue at depth. Additional geophysical surveys will also be carried out over a large area in the vicinity of the Chochi and RNT zones, several kilometres northeast of the NW Zone, where evidence of copper mineralization on surface is extensive and in some areas is obscured by glacial debris and a large valley glacier.
Diamond drilling is planned on the Trek Property to assess the significance of the Cu-Au mineralization encountered in previous soil geochemical surveys. In particular, the Tangle and Wall Zones are slated for follow up, where gold in a N-S trending soil anomaly returned the following: Samples 270596 (16.45% Cu, 7.56 g/t Au), 270616 (3.78% Cu, 4.45 g/t Au), 270606 (3.52% Cu, 0.53 g/t Au), 391143 (2.96% Cu, 0.50 g/t Au), and 391142 (2.85% Cu, 2.22 g/t Au).
Reconnaissance prospecting will be carried out in previously unexplored areas and extensive soil and bedrock sampling is planned in the vicinity of the many occurrences of copper and copper-magnetite mineralization that were discovered by Romios personnel during the past summer along the graben boundary faults.
The management of Romios is very pleased with the results of the exploration program carried out during the summer of 2007 at its Newmont Lake Property, particularly the results of hole R-07-09 drilled in the vicinity of the NW Zone. It now appears that the NW Zone is much larger than originally thought. Much of the drilling planned for the 2008 summer season will be a definition-type drilling program designed to enlarge the NI 43-101 compliant resource at the NW Zone.
The technical information contained in this press release has been reviewed and approved by Mr. Garth Kirkham, P.Geo., director of Romios Gold Resources and a qualified person as defined by National Instrument 43-101.
About Romios Gold Resources Inc.
Romios Gold Resources Inc. is a Canadian exploration company which focuses on the acquisition and exploration of precious and base metal prospects in the vicinity of major mining camps throughout North America. Currently, Romios is involved in several major exploration projects in British Columbia, Ontario and Nevada. Romios has been a public company since 1995 and in addition to trading on the Toronto Venture Exchange, it trades on the Over-The-Counter market in the United States (Exemption No. 82-5093, symbol: RMIOF) and on the Frankfurt Stock Exchange in Germany (symbol: D4R).
For further information, please contact:
Tom Drivas, President and Director:
(tel) 416-221-4124, (fax) 416-218-9772 or (email) firstname.lastname@example.org
Thomas Skimming, Vice President of Exploration and Director:
(tel) 416-444-0900, (fax) 416-444-0586 or (email) email@example.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
You can view the Next News Releases item: April 7, 2008, Romios Announces Results of Airborne Geophysical Survey Over its "JW" Property, Northwestern British Columbia
You can view the Previous News Releases item: January 29, 2008, Romios Exercises Option to Hold 75% Interest in Newmont Lake Property
You can return to the main News Releases page, or press the Back button on your browser.