- Press Releases
|TORONTO, ONTARIO, May 15, 2007 - The management of Romios Gold Resources Inc. (TSX VENTURE:RG)(OTCBB:RMIOF)(FRANKFURT:D4R) is pleased to announce its intention to initiate a minimum 800 metre diamond drilling program on its JW Property which consists of 613.8 hectares (1,516.7 acres) of land in the Liard Mining Division in northwestern British Columbia. In addition, a combined airborne magnetic, electromagnetic and resistivity survey will be carried out over the entire property (see Press Release dated May 8, 2007). The property is located in the Galore Creek area and lies within the parcel of land which houses the large copper-gold-silver deposits currently being developed by NovaGold Resources. For the location of the JW Property, see property map in Romios' website: www.romios.com.|
Construction of a camp to house the drillers will begin by the end of May and drilling will commence shortly thereafter. 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.
The JW property covers two distinct types of potentially economic, gold-bearing mineralization: the North Fork copper-gold porphyry prospect and a number of high-grade quartz-sulphide veins. The North Fork prospect is characterized by large, coincident gold and copper soil geochemical anomalies over an area of 500 X 1400 metres which are open to the north and the south. Since its discovery in the early 1960s, the JW Property has received only sporadic exploration attention, largely because of its remote location and mountainous topography. The last and most productive burst of exploration on the property was carried out from 1988 to 1990 when the Snip and Eskay Creek mines were being discovered 80 kilometres to the southeast in the equally remote and mountainous Iskut River region. In 1990, the five core holes that were drilled by Bellex Mining Corp, tested only a small portion of the large geochemical anomaly at its south end. Each hole intersected porphyry-style copper-gold mineralization which included 45 metres grading 0.24% copper and 0.4 grams/tonne gold in DDH 90JW-3 and 51 metres grading 0.24% copper and 0.5 grams/tonne gold in DDH 90JW-1. Romios intends to focus its forthcoming drill program in the northern portion of the geochemical anomaly in a wider and higher grade zone which has not been tested previously by diamond drilling.
In addition to the North Fork porphyry prospect, at least six gold-rich quartz-sulphide veins have been discovered and sampled within a large pyritic halo surrounding the North Fork zone prospect. On one of the veins, known as the Jake Vein located near the northern boundary of the JW Property, 29 chip samples collected along 170 metres of strike length averaged 25.3 grams/tonne gold where the vein averaged 0.23 metre in width. The best sample assayed 169 grams/tonne gold across 0.4 metres. There is no historical evidence to indicate that any of these veins have ever been tested by diamond drilling. Several intensely silicified shear zones are exposed within a microdiorite near the foot of the North Fork canyon. A 3.4 metre chip sample across one of these shear zones assayed 11.3 grams/tonne gold and 0.11% copper. A 1.0 metre grab sample across another portion of the same shear zone assayed 42.8 grams/tonne gold and 0.24% copper.
The assay results referred to above were derived from a report provided to Romios by the Galore Creek Syndicate. A qualified person has not confirmed any of the results referred to above and the assay results may not be in compliance with NI 43-101.
For the purposes of the disclosure in this press release, Thomas Skimming, P.Eng., Vice-President Exploration and Director of the Company, is the Qualified Person ("QP") in accordance with NI 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 N0. 82-5093, symbol: RMIOF) and on the Frankfurt Stock Exchange in Germany (symbol: D4R).
For further information about Romios or this press release, please visit our website at www.romios.
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)
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