- Press Releases
|Toronto, Ontario, September 20, 2007: The management of Romios Gold Resources Inc. is pleased to announce that it has intersected a zone of high- grade gold mineralization on its "JW" Property in the Galore Creek area of northwestern British Columbia and lies within the parcel of land which houses the large copper-gold-silver deposits currently being developed by NovaGold Resources. Hole JW07-06 intersected a 2.4 meter (7.87 feet) interval (from 279.8 m to 282.2m in the hole) that contained a weighted average of 31.87 g/t (1.02 oz/t) gold. This consisted of two samples, one from 279.8m to 281.8m (2.0m) that assayed 28.90 g/t (0.93 oz/t) gold and the other from 281.8m to 282.2m (0.4m) that assayed 46.70 g/t (1.50 oz/t) gold.|
The high grade gold intersection correlates to a series of carbonate veinlets and a narrow quartz carbonate vein in the drill core with a sulphide content, consisting essentially of pyrite, varying from 2% to 4%. The orientation of the contacts of the quartz carbonate veins and veinlets suggest the zone has a steep dip. The drill hole intersection is 170m vertically below the surface exposure of the Boundary Zone Vein which was discovered in 1988 where a grab sample from this zone is reported to have assayed 42.87 g/t (1.38 oz/t) gold and 0.24% copper and a 3.4m chip sample across the zone in the vicinity of the grab sample assayed 11.27 g/t (0.36 oz/t) gold and 0.11% copper. This is suggestive of a steeply dipping, gold-bearing, quartz carbonate vein system which is reflected on surface as a siliceous shear zone. Although the surface exposures of the vein contained copper, which is present in the drill hole intersection in minor quantities, it is likely that they represent a single gold-rich quartz-carbonate vein system with a vertical extent of at least 170 metres.
The veins on "JW" Property appear to be peripheral quartz-carbonate-sulphide veins in a geological setting similar to those of the Snip Deposit, located approximately 60 kilometres to the south of Romios' Galore Creek Project. From 1991 to 1999, the Snip Mine produced 32.093 million tonnes (1,031,800 ounces) of gold, 12.183 million tonnes (392,700 ounces) of silver and 249 tonnes (549,000 pounds) of copper from only 1.2 million tonnes of ore.
Two additional holes, JW07-07 and JW07-08 were drilled on the northern portion of a large geochemical anomaly on the "JW" property which had not been tested previously by diamond drilling. Hole JW07-07 was drilled to a depth of 151.5m but failed to attain its target depth of 300m and hole JW-07-08 was abandoned at 32.5 metres in overburden, without encountering bedrock. Although somewhat inconclusive, the results of these two holes shed some doubt on the usefulness of soil geochemistry in catchment basins with a large accumulations of erosional debris; however, there is still strong evidence, principally the drilling carried out by Bellex Mining Corp in 1990 on the "JW" Property (see Press Release dated May 15, 2007), for an alkalic or calc-alkaline porphyry system located in the vicinity of holes JW07-07 and JW07-08.
Romios can earn a 100% interest in the JW Property, subject to a 2% Net Smelter Returns Royalty in favour of the optionors, the Galore Creek Syndicate of Vancouver, by paying a total of $115,000 in cash option payments, issuing a total of 500,000 common shares and expending an aggregate of $2,000,000 on exploration on the property over a four year period (see Press Release dated October 5, 2006).
The diamond drill program on the JW Property was supervised by personnel of Equity Engineering Ltd of Vancouver, B.C. under contract to Romios. The sample preparation and analyis of the drill core featured in this press release were carried out by ALS Chemex Laboratories of Vancouver.
The management of Romios is highly encouraged by the results of the recent drill program on the JW Property and intends to carry out a more comprehensive program to assess the significance of the high-grade gold mineralization encountered in hole JW07- 06 and determine the potential of a copper-gold porphyry system on the property.
The historical assay results referred to herein were derived from reports provided to Romios by the Galore Creek Syndicate and although they may not be in compliance with NI 43-101, the work was carried out by professional geologists and the assays were generated by certified laboratories and are considered reliable.
For the purposes of the disclosure in this Press Release, Thomas Skimming, P.Eng., Vice- President of Exploration and a Director 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 plans to undertake extensive exploration work on its Galore Creek 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
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Exchange Listings and Symbols: TSXV:RG, NASDAQ OTF:RMIOF, Frankfurt:D4R.
Head Office: 25 Adelaide Street East, Suite 1010, Toronto, ON Canada,
M5C 3A1 Tel: 416-221-4124, Fax: 416 218-9772
Website: www.romios.com. Contact: Tom Drivas, President
Email Address: firstname.lastname@example.org
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.
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