Romios Completes First Phase of Exploration on Its North Caribou Gold Project in NW Ontario and Begins Field Work in the Golden Triangle
Toronto, July 13, 2021 - Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to report that it has completed the first phase of soil sampling and geological mapping on its North Caribou River claims in northwestern Ontario, Canada and that the crew has now mobilised to NW British Columbia to begin field work on Romios' extensive claims in the Golden Triangle.
The North Caribou River (NCR) claim block is located ~35 km WNW of Romios' Lundmark-Akow Lake gold and VMS target and 55 km NW of Newmont's giant Musselwhite gold mine. The claims are dominated by the NE-trending North Caribou River Fault (NCRF), containing a series of small but high-grade gold +/- copper showings, and a parallel fault 800 m to the south. Romios' believes that there is considerable untested potential for mineralized splay faults linking these 2 main breaks, similar to many of the major fault-controlled gold camps in the world (e.g. Timmins, Kirkland Lake, Val d'Or). A VLF survey flown on Romios' behalf in late 2020 identified a series of at least 6, and possibly 9, prominent curvilinear features consistent with the presence of such faults. Preliminary geological mapping during the recent field program identified a prominent change in the structural fabric of the local rock units approaching these inferred faults, adding further evidence for their presence. Soil sampling has so far been completed over approximately half of the apparent faults, the remainder will be sampled in August in conjunction with the Lundmark-Akow Lake drilling program.
In addition to work on the NCR claims, several days were spent conducting detailed mapping and infill soil sampling at the Spence Showing on the Lundmark-Akow Lake property, 15 km NW of Musslewhite. The Spence showing consists of a series of narrow but high grade (up to 38 oz/t Au in grab samples) quartz veins within a well-developed deformation zone. Soil sampling in 2019 outlined a prominent Au-Cu-Co-As soil anomaly in a low-lying area that flanks the mineralized outcrops. Several short holes drilled here in 1998 returned modest gold intercepts, ranging from 1 to 4 g/t Au over 0.5 to 3.2 m, however, it now appears that these holes were not long enough to test the full width of the deformation zone or the area of the anomalous soil results. If the 2021 infill sampling confirms the extent of the soil anomaly, Romios expects to drill this target as part of the Lundmark-Akow Lake program.
Romios' claims in the Golden Triangle of NW British Columbia cover a number of porphyry copper-gold, shear zone gold, and VMS base metal prospects, including several that were discovered by Romios in recent years, after the melting of local snowfields and accelerated glacial retreat. The Company's geological team has now mobilised to the area and has begun work on these various targets, including the Trek South porphyry target discovered in 2019. The Trek claims, and a number of Romios' other claims in the area, are transected by the partially cleared roadway from BC highway 37 to the giant Galore Creek Cu-Au porphyry deposit owned by a Newmont-Teck JV, which is now in the pre-feasibility study stage. The Trek North Zone is the only undeveloped Cu-Au porphyry along this route not owned by Newmont-Teck and the Trek South Zone is believed to represent another porphyry at depth, in a readily accessible part of the claims. In addition to detailed mapping, sampling and possible geophysical surveys of the new targets on the Trek claims, efforts are now underway to assess the potential and true geological setting of historic, high-grade gold showings on the Porc and Royce claims, as well as a very high-grade silver vein (71 oz/t Ag) discovered on the JW West claims in 2019.
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, silver and copper. It has a 100% interest in the Lundmark-Akow Lake gold-copper property 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) and a former high-grade gold producer, the Scossa mine property (Nevada). The Company also retains a 2% NSR on the Hislop gold property in Ontario. For more information, visit www.romios.com.
This News Release contains forward-looking statements which are typically preceded by, followed by or include 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. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) do not accept 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.
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