- Press Releases
TORONTO, ONTARIO - July 19, 2006 - The management of Romios Gold Resources Inc. ("Romios" or "The Corporation")(TSX VENTURE:RG) is pleased to announce that it has commenced exploration on its Newmont Lake Property located in the Galore Creek area of northwestern British Columbia. The property lies adjacent to the large parcel of land which houses NovaGold Resources' Galore Creek deposits (13.75 million ounces of gold, 156 million ounces of silver and 12 billion pounds of copper.... as per the NovaGold website).
As previously reported (Press Release dated November 14, 2005), the claims which comprise the Newmont Lake Property form an irregular staircase-shaped block approximately sixteen kilometres long and six kilometres wide that covers a northeast oriented graben structure underlain by Late Triassic to Early Jurassic aged intrusives, sediments and volcanic rocks. In the Iskut River region these rock units have potential to host high grade vein type gold occurrences such as the Snip deposit, volcanogenic massive sulfide mineralization similar to that developed at Eskay Creek, skarn type copper gold occurrences, and alkalic, porphyry copper/gold type mineralization similar to that presently being evaluated by Novagold Resources at their Galore Creek Project. According to published technical information there are a total of 22 intrusion related gold, copper and silver prospects located in the Newmont Lake area all of which are located within Romios' Newmont Lake property.
The known prospects include three advanced stage targets referred to as the NW Zone, the Ken Zone and the Camp Zone where drilling by previous operators has partially defined several significant mineralized zones. The NW Zone and the Camp Zone were the focus of extensive drill testing by Gulf International Minerals Limited between 1987 and 1990 and the Ken Zone was tested by a limited drill program in 1988 by Pezgold Resources. With the exception of several scattered drill holes, the majority of the remaining 19 occurrences have not been tested by diamond drilling.
A helicopter supported camp is under construction in the vicinity of the NW Zone from which diamond drilling, a ground geophysical survey and reconnaissance-type geological mapping and prospecting will be carried out. The diamond drill program is designed to expand the known gold/copper resource at the NW zone and to test a 3D induced polarization (IP) anomaly located 500 metres northeast of the NW zone that was discovered in a ground geophysical survey by Romios during the summer of 2005 (Press Release dated January 10, 2006). Since the geophysical signature of this anomaly is identical to that recorded over the NW zone just a short distance away, management believes that this IP anomaly could be a reflection of a zone of gold/copper mineralization similar to that at the NW zone. Prior to drilling at the Ken and Camp Zones, a ground geophysical survey is planned to assist in optimizing the location of drill holes.
The results from an airborne magnetic survey completed over a portion of the Newmont Lake Property during the summer of 2005 (Press Release dated April 5, 2006) exhibited geophysical signatures characteristic of alkalic porphyry copper-gold centres. Significantly, the survey delineated a pronounced, five kilometre long, northerly trending magnetic feature within which occurs many of the known mineral prospects encompassed by the Newmont Lake Property. The Ken Zone, the NW Zone, the Camp Zone, the 3D induced polarization anomaly scheduled to be drilled shortly, a number of prospects localized between the Ken Zone and the NW Zone and a train of angular, mineralized boulders located two kilometers southwest of the NW Zone, all lie within this large magnetic feature. A ground 3D induced polarization survey will be carried out over this entire magnetic feature concurrent with the proposed diamond drill program. Significant anomalies, notably those that coincide with zones of known gold/copper mineralization will be considered for testing by diamond drilling during the current summer field season.
Romios trades on the TSX Venture Exchange (Symbol:RG) and on the "over the counter" market in the United States (Exemption No. 82-5093, Symbol: RMIOF).
For the purposes of the disclosure in this Press Release, Thomas Skimming, P.Eng. is the Qualified Person ("QP") in accordance with NI 43-101.
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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Romios Gold Resources Inc.
President and Director
(416) 218-9772 (FAX)
Romios Gold Resources Inc.
Vice President of Exploration and Director
(416) 444-0586 (FAX)
You can view the Next News Releases item: July 26, 2006, Romios Announces Closing of Financing
You can view the Previous News Releases item: June 20, 2006, Romios Commences Work on the Trek and Royce/Porc Properties in the Galore Creek Area, Northwestern British Columbia
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