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Newmont Lake, BC (approx. 6,200 hectares)
Option Terms:
Work Program completed:
Romios holds an option to earn up to a 75% interest in the 243 claim units (approx. 6,200 hectares) from Gulf International Minerals Ltd. These claims host three advanced stage copper--gold--silver prospects that have returned encouraging early drill results and numerous showings that have not yet been drill tested. One of the advanced prospects, the NW Zone, underwent extensive drill testing between 1986 and 1990 (16,633 meters of drilling in 148 drill holes) however at the time the drilling was carried out Gulf did not control the claims that covered potential strike extensions of the zone. Subsequent to acquiring the "Gulf" claims, Romios entered into an option agreement to acquire up to a 75% interest in an additional 160 claim units (approx. 4,000 hectares) from Roca Mines Inc. These claims cover all of the potential strike extensions of the NW Zone and all of the remaining known mineral occurrences in the targeted area of interest. In the early 1960's, work by Newmont Exploration identified a prospect known as the Ken Zone and drill testing in the late 1980's intersected wide zones of copper gold mineralization that have never been followed up (see Romios News Release dated November 14, 2005). In 1980, DuPont Canada staked the southern part of the Romios property. Work by both DuPont and Placer identified intrusion-hosted gold-bearing quartz veins in an area now referred to as the Camp Zone. Romios' 2006 program consisted of diamond drilling 10 holes, a ground 3D induced polarization survey (IP), prospecting and the logging and sampling of diamond drill hole R-05-01. The drilling program was designed to expand the known gold/copper resource at the NW zone and to test a 3D IP anomaly located 500 metres northeast of the NW zone that was identified in a ground geophysical survey by Romios during the summer of 2005 (Press Release dated January 10, 2006). The ground geophysical survey (3D IP) was designed to extend the IP anomaly, located last year, to the northeast in the vicinity of the Jazzman and Jazzman Extension zones of gold/copper mineralization. Romios Claim Blocks (approx. 15,000 hectares.) The Company also acquired a 100% interest in approximately 1,500 map-staked units immediately to the north of the Gulf claims and within and adjoining the NovaGold property. |
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