| ||July 20, 2018|
Romios Commences Exploration on its Newmont Lake Property and Acquires 100% Interest in the Royce/Porc & JW Properties
| ||TORONTO, ONTARIO, July 20, 2018, Romios Gold Resources Inc. ("Romios" or the "Company") (TSX.V-RG) (OTC-PK: RMIOF) (Frankfurt: D4R) is pleased to announce that Romios' exploration team has recently mobilized to the Newmont Lake property to assess the geophysical targets described in the July 10, 2018 news release as well as conducting detailed mapping of the Northwest Zone extension, the extensive mineralization discovered in recent years at Burgundy Ridge, and a number of other targets. If results are encouraging diamond drilling may be undertaken in August-September. |
Romios has now acquired a 100% interest in the Royce Claim and the Porc Claim (the "Royce/Porc Property") and the JW Property in the Golden Triangle, previously subject to the terms of two separate option agreements (the "Prior Option Agreements") between the Company and the Galore Creek Staking Syndicate 2003 (the "Vendor") in consideration for the termination of the Prior Option Agreements and the issuance of 500,000 common shares of the Company to the Vendor and the granting of a 1% net smelter returns royalty ("NSR") in favour of the Vendor in respect of each of the claims. The Company has the right to buy a 0.5% net smelter returns royalty, in respect of each of the claims, for the payment of $500,000 and has a right of first refusal on the remaining 0.5% NSR. The securities issued are subject to a hold period expiring on November 14, 2018.
The Royce/Porc Property is located within the Galore Creek Project and consists of two land tenures covering approximately 1321 ha in the Liard Mining Division. The JW Property is also located within the Galore Creek Project and consists of one land tenure covering approximately 614 ha. Romios has been exploring Royce/Porc and JW Properties under option since 2006.
On the JW Property, Romios' Hole JW07-06 intersected a 2.4m (7.87 feet) interval (from 279.8m 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 1,031,800 ounces of gold, 392,700 ounces of silver and 549,000 pounds of copper from only 1.2 million tonnes of ore. (see News Release September 20, 2007).
A DIGHEM Airborne Survey, flown by Romios, identified an area of resistivity low (< 1000 ohm-m) measuring 500 m x 1300 m. The area is interpreted as an alteration pipe, which is associated with previously identified mineralization located nearby. The Jeffe Zone, with samples grading 13.1 g/t gold over one metre of trenching, lies on the eastern margin of the anomaly. A grab float sample from the Royce Zone, which is located within the anomalous area, graded 769 g/t gold. (see Romios' News Release June 16, 2008).
For information on the JW, Royce and Porc properties, see Romios News Releases dated April 27, 2006, June 20, 2006, October 5, 2006, November 13, 2006, September 20, 2007, April 7, 2008, June 16, 2008 and February 26, 2010. News Releases can be viewed on Romios' website at www.romios.com or on Sedar at www.sedar.com.
The technical information in this news release has been reviewed and approved by Brian Robertson, P.Eng., a Director of Romios and a Qualified Person as defined by National Instrument 43-101.
About Romios Gold Resources Inc.
Romios Gold Resources Inc., a progressive Canadian mineral exploration company established in 1995. Romios is engaged in precious and base metal exploration primarily focused on gold, silver and copper on its properties in the Golden Triangle area, northwestern British Columbia. In addition to the properties in the Golden Triangle area, Romios holds a 100% interest in the Lundmark-Akow Lake property in Ontario, the La Corne Property in Quebec and the Scossa Property in Nevada. It also holds a 2% NSR on the Hislop property in Ontario.
This News Release contains forward-looking statements which are typically preceded by, followed by or including 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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) email@example.com.
Brian Robertson, P.Eng., Director, (tel) (807) 474-4270 or (email) firstname.lastname@example.org
Frank van de Water, Chief Financial Officer and Director, (tel) 416-221-4124 or (email) email@example.com.
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You can view the Previous Press Release item: Tue Jul 10, 2018, Romios Airborne VTEM-Magnetic Geophysical Survey Identifies New Targets in the "Golden Triangle" of BC
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