TORONTO, ONTARIO, Mar 05, 2012 (MARKETWIRE via COMTEX) — Romios Gold Resources Inc. CA:RG 0.00% RMIOF +3.13% (frankfurt:D4R) (“Romios” or the “Company”) is pleased to present an overview of the Trek property in British Columbia. This property is located near the Galore Creek copper-gold-silver porphyry deposit, and adjacent to both the Galore Creek Mining Corporation’s proposed mill and tailings facilities and Romios’ Dirk/Newmont Lake project. The Trek property contains several gold (Au), silver (Ag) and copper (Cu) rich mineralized zones that have the potential to develop into porphyry-style mineral deposits in a new major mining district with developing infrastructure.
The 2012 exploration program, scheduled to commence in early June, is expected to consist of two (2) diamond drills to delineate infill resource targets as well as to explore adjacent areas deemed prospective by previous work for additional resources. Romios anticipates that it will be able to use this additional data to prepare an NI 43-101 compliant resource estimate of the North Zone on the Trek property.
Romios has been actively exploring the Trek property since 2006. The most advanced prospect on the property is the North Zone where drilling has intersected widespread, low-grade porphyry Au, Cu, and Ag mineralization as well as high-grade breccias and massive sulphide veins over an area of approximately 700 metres by 550 metres and to a depth of 750 metres. Several mineral showings exist, of which the Lower North, Gully, Lower West, Tangle, Tundra and North Zones, which extend over a 5.0 kilometre-long strike length, appear to be associated with deep basement faults that control the mineralization and exhibit the potential for significant resources.
Recent drilling success at the North Zone, combined with geophysical and geological data, indicates that the trend of mineralization at Trek is now strongly evident for over 5.0 kilometres in length, which reaffirms Romios’ belief that the Trek property hosts multiple mineralized zones which warrant aggressive exploration. With an exploration expenditure of approximately $12M over five (5) years, Romios has developed a significant asset in a mineral district containing a number of world-class deposits.
Drilling
Since 2008, Romios has drilled 35 holes totalling 14,676 metres (48,150 feet) in length at the North Zone, and 2 holes totalling 1,056 metres (3,465 feet) at the Tangle Zone. In addition, in 1993 Equity Engineering drilled six (6) holes totalling 450 metres at the Gully Zone for Lorica Resources, and Silver Standard Mines drilled four (4) holes totalling 545 metres (1,788 feet) at the Lower West Zone in 1970.
North Zone’s High-Grade Intercept Highlights: (see 2008-2011 Press Releases)
— TRK08-01: 32.0 metres (105 ft.) of 2.06% Cu, 1.05 g/t Au and 26.01 g/t Ag
— TRK08-02: 27.0 metres (88 ft.) of 0.31% Cu, 3.27 g/t Au and 5.71 g/t Ag
— TRK09-06: 5.5 metres (18 ft.) of 0.16% Cu, 8.25 g/t Au and 4.01 g/t Ag
— TRK09-09: 4.5 metres (14 ft.) of 2.16% Cu, 1.66 g/t Au and 12.03 g/t Ag
— TRK10-03: 4.6 metres (15 ft.) of 3.84% Cu, 1.82 g/t Au and 8.52 g/t Ag
— TRK10-07: 5.2 metres (17 ft.) of 1.75% Cu, 0.60 g/t Au and 14.3 g/t Ag
— TRK11-32: 22.1 metres (72 ft.) of 1.25% Cu, 0.05 g/t Au and 22.43 g/t Ag
— TRK11-35: 2.1 metres (7.0 ft.) of 7.87% Cu, 2.17 g/t Au and 40.39 g/t Ag
— TRK11-35: 4.1 metres (14 ft.) of 1.12% Cu, 1.81 g/t Au and 15.34 g/t Ag
North Zone’s Longer Intercept Highlights: (see 2008-2011 Press Releases)
— TRK08-01: 131.4 metres (431 ft.) of 0.61% Cu, 0.39 g/t Au and 8.47 g/t Ag
— TRK08-02: 124.7 metres (409 ft.) of 0.19% Cu, 0.82 g/t Au and 8.47 g/t Ag
— TRK09-05: 120.0 metres (393 ft.) of 0.13% Cu, 0.25 g/t Au and 1.62 g/t Ag
— TRK09-06: 232.0 metres (682 ft.) of 0.10% Cu, 0.35 g/t Au and 1.35 g/t Ag
— TRK10-03: 102.0 metres (335 ft.) of 0.37% Cu, 0.15 g/t Au and 1.18 g/t Ag
— TRK10-07: 152.0 metres (499 ft.) of 0.25% Cu, 0.15 g/t Au and 1.94 g/t Ag
— TRK11-27: 125.0 metres (410 ft.) of 0.14% Cu, 0.23 g/t Au and 1.75 g/t Ag
— TRK11-35: 136.3 metres (447 ft.) of 0.20% Cu, 0.08 g/t Au and 0.99 g/t Ag
Gully Zone Diamond Drilling Highlights: (1993)
— TRK93-01: 10.4 metres (34.1 ft.) of 1.49% Cu, 1.5 g/t Au
— TRK93-04: 6.0 metres (19.7 ft.) of 1.26% Cu, 3.1 g/t Au
Lower West Zone Diamond Drilling Highlights: (1970)
— TRK70-02: 6.1 metres (20 ft.) of 0.25% Cu
— TRK70-02: 9.1 metres (30 ft.) of 0.40% Cu
Geophysics
Since the 1970’s, Trek has been subjected to property-wide airborne magnetic, electromagnetic and resistivity surveys. In addition, 48 line kilometres of ground magnetic (MAG), 20 line kilometres of VLF electromagnetic, 10.6 line kilometres of induced polarization (IP), 10.3 line kilometres of conventional electromagnetic (EM) and 4.8 line kilometres of magnetotelluric (MT) ground geophysical surveys were completed.
The results from these geophysical surveys have corroborated the extent of near-surface mineralization, correlated well with drill results and helped identify the existence of mineralization at depth. A new, high-grade copper discovery, called the ‘Lower Breccia Zone’, lies below the known mineralization at the North Zone and was intersected during the 2011 drill campaign. It is spatially coincident with a large and conductive geophysical anomaly previously identified by the Titan 24 geophysical surveys.
An additional IP/resistivity ground geophysical survey conducted in June of 2011, which was designed to test the extent of the deep conductive geophysical anomaly to the south, revealed a zone of high conductivity at approximately the same elevation that exhibits an identical width and geophysical signature (100-500 ohm/metre) as all three of the conductivity anomalies identified in the Titan 24 Lines 1, 2, and 3 to the north. The results from this survey also revealed the existence of several conductivity and chargeability anomalies at surface, wherein historical sampling by Silver Standard reportedly assayed 2.04 % Cu, 0.70 g/t Au, and 13.2 g/t Ag; and, 4.32 % Cu, 1.0 g/t Au, and 36.2 g/t Ag, indicating the potential for continuation of the North Zone mineralization to the south, southeast, and to depth.
Surface Sampling
Property-wide mapping, rock and chip sampling were also conducted during the 2011 exploration season, bringing the total surface sampling at the Trek property to over 3,850 samples. Chip samples, from 1.0 to 5.0 metres long, were collected along an outcrop within gullies exposing the Northeast and Upper Northeast areas of the North Zone. The chip sampling program yielded two samples that assayed greater than 5.0 % Cu and 5.0 g/t Au, 12 samples greater than 0.5 % Cu and 0.5 g/t Au, and 24 samples greater than 0.25 % Cu and 0.25 g/t Au, concentrated along surface strike of mineralizing porphyry dykes and structures traceable to mineralized drill core at depth.
Surface sampling elsewhere on the property exposed anomalous copper and gold mineralization within and adjacent to several porphyry intrusions. These intrusions, concentrated along two property-scale, north to northeast trending structures, indicate the possibility for additional drill targets and potential mineral occurrences over approximately 5.5 kilometres of strike length, including the Tundra, Tangle, and Gully Zones, and a new mineral showing discovered in 2011 called ‘Tomb’ that contains numerous veins of gold-bearing massive pyrite and quartz from 4.0 to 100 centimetres in true width. Two samples of the massive pyrite assayed 0.25 g/t Au and 0.33 g/t Au, respectively.
Annual Meeting
Romios is pleased to report that at the Annual General and Special Meeting of shareholders held on March 1, 2012, shareholders approved the appointment of Wasserman Ramsay, Chartered Accountants, as auditors of the Company; ratified the Company’s Stock Option Plan, a 10% rolling plan; and elected the following directors individually: Tom Drivas, Thomas Skimming, William R. Johnstone, Brian Robertson, Garth Kirkham, Antonio (Mel) de Quadros, Frank van de Water and Jack McOuat.
The technical information contained in this press release has been reviewed by Thomas Skimming, P.Eng., Vice-President Exploration and a Director of Romios, a Qualified Person as defined by National Instrument 43-101.
A map showing the location of all drill holes on the Trek property, a full listing of all individual assays received and hole metal summaries from 2008-present, detailed 2011 drill hole descriptions, and additional information can be found in press releases since 2008 and on our website at www.romios.com .
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, Quebec and Nevada. The Company is undertaking extensive exploration work on its Galore Creek area properties in British Columbia, which are centrally located between Galore Creek Mining Corporation’s large copper-gold-silver deposit and Barrick’s high grade gold mine at Eskay Creek.
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, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking 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.
Contacts:
Romios Gold Resources Inc.
Tom Drivas
President and Director
416-221-4124
416-218-9772 (FAX)
Romios Gold Resources Inc.
Thomas Skimming, P.Eng.
Vice-President, Exploration and a Director
416-444-0900
Romios Gold Resources Inc.
Michael D’Amico
CFO, Investor Relations
647-500-6023
Head Office:
5 Adelaide Street East, Suite 1010
Toronto, ON Canada, M5C 3A1
416-221-4124
416 218-9772 (FAX)
SOURCE: Romios Gold Resources Inc.
Leave a Reply
Want to join the discussion?Feel free to contribute!