- Press Releases
|Romios Gold Resources Inc. ("Romios") is pleased to announce that it will undertake an exploration program beginning in late June, 2009 on its Newmont Lake and Trek properties located in the Galore Creek area of northwestern British Columbia. The program, estimated to cost $1.5 million, will consist essentially of diamond drilling designed to expand the known Northwest Zone gold-silver resource at Newmont Lake and to further delineate the breccia-hosted copper-gold mineralization and wide zones of porphyry-style gold-copper mineralization intersected in the diamond drill program carried out last summer on the Trek Property (see Press Release dated December 4, 2008). In addition, systematic prospecting and geological mapping will be carried out on Romios' other properties in the Galore Creek area.|
Newmont Lake Property
Based on earlier drilling, the North West Zone was calculated to contain an inferred mineral resource of 1,406,000 tonnes at a grade of 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 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 2.0 g/t. Mineral resources are not mineral reserves since they have not demonstrated economic viability. Subsequent to the calculation of the North West Zone resource, diamond drilling carried out by Romios has encountered gold-copper-silver mineralization peripheral to the North West Zone which, coupled with the results of recent ground geophysical surveys, suggests that the resource could be much larger than originally thought.
A ground induced polarization survey carried out as part of the 2008 exploration program at Newmont Lake identified a strong, continuous chargeability anomaly which was traced for over 450 metres in a southwesterly direction from the North West Zone within a 275 metre wide, northeast-southwest, magnetic low trend (see Press Release dated February 19, 2009). The geophysical signature of the anomaly is similar in appearance but is three orders of magnitude stronger than that recorded over the known zone of gold-silver-copper mineralization at the North West Zone. The anomaly appears to extend beyond the survey boundary to the southwest and therefore could be much larger than that outlined to date. This large geophysical anomaly, referred to as the South West Zone, is the principal target of the diamond drilling planned during the summer of 2009 at Newmont Lake. A secondary target is the deeper zone of gold-silver mineralization which was indicated in earlier drilling underlying the known North West Zone gold-silver resource. For further information please visit our website at www.romios.com
The Trek Property is a 4,297 hectares (10,618 acres) claim block located within the claim boundary of NovaGold/ Teck Cominco's Galore Creek property. It is located approximately 8.5 kilometres (5.28 miles) southeast of the Galore Creek deposit and 4.5 kilometres (2.79 miles) south of the Copper Canyon deposit.
During the 2008 summer exploration program, Romios' geologists discovered several mineralized breccias (copper-gold-silver) exposed in a steep cliff face on the Trek Property. The grade of 48 representative chip samples collected from outcrops of these breccias over an area measuring 250 metres by 50 metres averaged 1.39 % copper, 0.49 g/t gold and 7.85 g/t silver.
Following the surface sampling program, diamond drilling was initiated to further test the exposed mineralization. The diamond drill program, consisting of six holes, encountered extensive breccia-hosted copper-gold mineralization and wide zones of porphyry-style gold-copper mineralization. The most notable hole TRK-08-01 intersected a 32.0 metre (105 feet) wide breccia zone that assayed 2.06 % copper, 1.05 g/t gold and 26.01 g/t silver. The breccia zone is contained within a 131.4 metre (431.0 feet)mineralized interval in the hole), that had a weighted average grade of 0.61 % copper, 0.39 g/t gold and 8.48 g/t silver (see Press Release dated December 4, 2008). Prospecting in the vicinity of the drilling carried out on the Trek Property identified extensive copper, gold and silver mineralization to the northeast. Individual chip samples assayed up to 8.55 g/t gold, 44.0 g/t silver and 8.07 % copper over one metre and the average grade of 4 representative grab samples from this newly discovered mineralization is 5.15 g/t gold, 5.08 g/t silver and 4.18% copper.
Diamond drilling planned on the Trek Property during the summer of 2009 will be to delineate the breccia-hosted copper-gold mineralization and wide zones of porphyry-style gold-copper mineralization intersected in the diamond drill program carried out last summer and to determine the significance of the newly discovered surface gold-copper mineralization.
For the purposes of the disclosure in this Press Release, Thomas Skimming, P.Eng., Vice-President of Exploration and a Director of Romios is the Qualified Person ("QP") in accordance with NI 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 and Nevada. The Corporation is undertaking extensive exploration work on its Galore Creek area properties in British Columbia, which are centrally located between NovaGold's large gold-copper-silver deposit and Barrick's high grade gold mine at Eskay Creek.
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
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
Contact: Tom Drivas, President
Email Address: firstname.lastname@example.org
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.
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.
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