TORONTO, ONTARIO–(Marketwire – Aug. 18, 2010) – The management of Romios Gold Resources Inc. (“Romios” or the “Corporation”)(TSX VENTURE:RG)(OTCBB:RMIOF)(FRANKFURT:D4R) is pleased to provide a status report on the exploration program at its Trek Property in northwestern British Columbia as announced in a Press Release dated June 7, 2010. Initially, the Corporation estimated the cost of the exploration program at $1.5 million. The program has been expanded and the current estimated cost has been increased to $1.9 million. The program, which essentially consists of diamond drilling, was designed to further delineate the pervasive porphyry-style copper and gold mineralization and to assess the significance of the airborne magnetic trends that parallel the zones of known copper-gold-silver mineralization outlined by drill programs completed by the Corporation during 2008 and 2009. In addition to the drilling, Romios has commissioned Quantec Geoscience to carry out a Titan 24 Deep Earth Imaging Geophysical Survey over its North and Tangle Zones on the Trek Property.
To date, six holes totaling 3,014.35 metres (9,889.59 feet) in length have been completed on the Trek property. Thus far, the results indicate a significant extension and widening of the known copper-gold mineralization to the north and east, and it remains open to the south and at depth. The drill core is being logged, sampled and submitted for chemical analyses. The results of the analyses will be announced after they have been received and reviewed by the Corporation.
Drill Holes:
Hole TRK10-01 was collared 100 meters (328 feet) northwest from TRK09-09, drilled to a total depth of 405.0 metres (1,328 feet) and encountered multiple horizons of disseminated and fracture-controlled pyrite and chalcopyrite mineralization occurring predominantly within the lower 150 metres (492 feet) of the hole in a moderate to intense zone of calc-sodic alteration. Hole TRK10-02 was collared 372 meters (1220 feet) north of TRK09-09, drilled to a depth of 387.35 metres (1,270 feet) and encountered disseminated chalcopyrite and pyrite mineralization, testing one of the prominent magnetic anomalies north of the known mineralization identified during the 2008 and 2009 drill programs at Trek.
Hole TRK10-03 was drilled to a depth of 560 metres (1,837 feet), collaring 223 meters (731 feet) northeast from TRK09-09 and northeast from the mineralization encountered in the TRK10-01. This hole was designed to test the northeast trend of the known copper- gold mineralization. Chalcopyrite occurs intermittently from 320 metres (1,049 feet) to the bottom of the hole. TRK10-04 was collared 100 metres (328 feet) to the northwest of hole TRK10-01 and drilled to a depth of 471 metres (1,545 feet). Essentially, the hole intersected a similar sequence of rocks as those intersected in TRK10-01, but with a significant displacement downward in the zone of copper-gold mineralization due to a fault encountered midway down the hole. Overall, pyrite and chalcopyrite were observed in multiple horizons suggesting that the copper-gold mineralization at the North Zone on the Trek Property is extensive.
Hole TRK10-05, collared from the same location as TRK09-02 drilled last year, approximately 200 meters (656 feet) east-southeast from TRK10-03, targeted a deep mineralized horizon that was intersected in hole TRK10-03. The hole, drilled to a depth of 540 metres (1,772 feet), intersected an upper sequence of vein-hosted pyrite and chalcopyrite mineralization and rocks, similar to those encountered in TRK10-02, which is terminated by a pronounced fault. The rocks below the fault (the lower sequence) consist of feldspar-phyric porphyritic dykes which contain varying amounts of disseminated and vein-controlled chalcopyrite and pyrite.
TRK10-06, collared approximately 100 metres (328 feet) northeast of TRK10-05, was drilled to a depth of 651 metres (2,135 feet). The hole intersected disseminated and fracture-controlled chalcopyrite at depth below a pronounced fault. Drilling revealed the upper sequence, the fault and the lower sequence at predicted elevations similar to those in TRK10-05.
TRK10-07, collared at TRK09-03, is targeting the chalcopyrite-mineralized horizons intersected in TRK10-03, TRK10-05, and TRK09-09. Thicker intersections of the mineralized horizons have been encountered and drilling is continuing to a target depth of 500 metres (1,640 feet). Hole TRK10-08 is planned to continue intersecting and developing the width of the mineralized horizons delineated in this year’s drilling program. The copper-gold mineralization on the Trek Property occurs within breccia zones, veins and stockworks, and as fracture fillings and disseminations within andesitic and basaltic volcanic rocks. The results of the drilling to date suggest the presence of one or more planar bodies of copper-gold mineralization with pronounced southwest-northeast trends and width thicknesses up to 100 metres (328 feet) that coincide with the airborne southwest-northeast trending vertical gradient magnetic anomalies.
QA/QC
As a matter of procedure, the mineralized intervals of drill core are cut using an electric- powered core saw. After cutting the core, one half of the core is bagged for assay using security seals. The samples are then delivered to ALS Chemex Laboratories in Terrace, B.C. for analysis. In addition to the laboratory’s quality control program, a rigorous on- site quality assurance and quality control program is implemented involving the insertion of blanks, standards and splits to ensure reliable assay results. The drill hole location map is posted on our website at www.romios.com, under the Projects/BC Projects/Trek Property/Map Galleries section.
Titan 24 Survey:
Quantec Geoscience Limited has commenced a Titan 24 Deep Earth Imaging Geophysical Survey over Romios’ North and Tangle Zones on the Trek Property. The Titan 24 System is the most advanced and deepest penetrating electrical earth imaging technology available today. It utilizes three main data parameters: DC resistivity, Magneto-Telluric Resistivity and Induced Polarization Chargeability and provides the unique ability to collect IP (induced polarization) and MT (magnetotelluric) readings sequentially. This provides for thorough target discrimination and exploration, and generates accurate and relevant results. Titan 24 surveys carried out at Shaft Creek and other locations in British Columbia have been successful in identifying porphyry ore bodies and extensions to known ore bodies to considerable depths. The system has the capability of measuring mineralization to depths of at least 700 metres (2,296.58 feet) with Induced Polarization / Resistivity, and to a cut-off depth of 1,500 metres (4,921.25 feet) with Magnetotellurics. The survey is designed to identify copper and gold mineralization and related alteration at depth in the vicinity of the known mineralization on the Trek property and would enable Romios to focus its drilling on targets that offer the greatest tonnage potential.
The Trek Property, 100% owned by Romios, consists of 5 land tenures which cover 2,693.27 hectares (6,654.98 acres) in the Galore Creek Area, in the Liard Mining Division of northwestern British Columbia and is located within the large parcel of land (approx. 118,912 hectares/293,838 acres) which encompasses Galore Creek Mining Corporation’s (GCMC) Galore Creek Project, that contains a large, undeveloped, porphyry-related, copper-gold-silver deposit. Since acquiring the Trek property in 2006, Romios has been carrying out exploration programs to evaluate the widespread zones of breccia-hosted copper-gold mineralization and porphyry-style copper-gold mineralization on the property.
The technical information contained in this press release has been reviewed and approved by Mr. Thomas Skimming, P. Eng., Geologist, V.P. of Exploration, Director of Romios Gold Resources Inc. 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, is headquartered in Toronto and is actively engaged in precious and base metal exploration across North America with a primary focus on gold, copper, silver and molybdenum. Romios has significant property interests in British Columbia, Ontario, Quebec and Nevada. The Corporation is undertaking extensive exploration work on its Galore Creek Area properties in British Columbia, which are centrally located between GCMC’s (NovaGold/Teck Resources) large copper-gold-silver deposit and Barrick’s high-grade gold mine at Eskay Creek.
Exchange Listings and Symbols: TSX-V: RG, NASDAQ OTC: 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: romios@romios.com
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.
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