Romios Intersects 3.99 g/t Au, 0.17% Cu & 2.36 g/t Ag Over 11.35 Metres at Newmont Lake, Expands the Northwest Zone at the Ne...
October 25 2012 - 8:00AM
Marketwired Canada
Romios Gold Resources Inc. (TSX VENTURE:RG)(OTCBB:RMIOF)(FRANKFURT:D4R)
("Romios" or the "Company") is pleased to announce results from its diamond
drill program at the Northwest Zone. This is the second set of drill results,
comprising two of 14 holes drilled this summer on Romios' Newmont Lake Project,
located in the Golden Triangle mineralized district in Northwestern British
Columbia.
Tom Drivas, President and CEO, comments: "Drill hole intersections of
gold-bearing sulphide mineralization over widths greater than those encountered
historically combined with the identification of a geophysical anomaly along
strike from the Northwest Zone and the recognition of a new gold-bearing horizon
(Northwest Deep Horizon), collectively illustrate the potential for an increase
in the size of the existing Northwest Zone. Successes from the 2012 exploration
program continue to highlight the Newmont Lake Project as one of the most
prospective opportunities within the area due to the widespread occurrence of
multiple styles of mineralization and proximal location to developing
infrastructure."
In a Press Release dated March 27, 2007 Romios announced a NI 43-101 inferred
resource at the Northwest Zone of 1.406 M tonnes grading approximately 4.43 g/t
Au, 0.22% Cu, and 6.4 g/t Ag, or a gold equivalent grade (AuEq) of 5.16 g/t at
the then existing commodity prices. Using a base case gold equivalent cut-off
grade of 2 g/t AuEq, this equated to an in-situ metal content of 200,000 ounces
of gold, 6,790,000 pounds of copper and 291,000 ounces of silver at the time the
calculations were carried out. Mineral Resources have not demonstrated economic
viability and therefore are not Mineral Reserves.
Drill holes NW12-176 and JZ12-14 were designed to confirm historical drill
results and to test for new mineralization. Drill hole NW12-176 intersected a
wider zone of gold and silver-bearing sulphides than historically reported from
within the principle resource area. This zone assayed 1.46 g/t Au, 0.13% Cu, and
6.24 g/t Ag over a continuous interval of 53.70 metres (176.18 feet). Within
this zone, higher-grade portions were encountered: an 11.35 metre (37.24 feet)
interval assayed 3.99 g/t Au, 0.17% Cu and 2.36 g/t Ag and a further interval of
2.56 metres (8.40 feet) assayed 3.75 g/t Au, 0.26% Cu and 5.03 g/t Ag. Narrower,
high-grade zones assaying as high as 17.20 g/t Au and 114.00 g/t Ag were also
encountered in these zones.
An Earthprobe resistivity survey carried out during the summer of 2012
discovered a new, highly prospective exploration target along strike of the
Northwest Zone. The survey identified a highly conductive anomaly with a
vertical dimension of 100 metres and a width of 100 metres recorded at a depth
of 350 metres. Two historic drill holes intersected significant gold
mineralization within 75 metres east of the new target at depth. Highlights from
these two holes include an intersection of 185 g/t Au, 3.28% Cu, and 108 g/t Ag
over 0.33 metres (1.08 feet) in drill hole R-08-05 (Press release dated November
26, 2008), and 15.74 g/t Au over 1.5 metres (4.92 feet) in drill hole 90-21
(Gulf International Minerals Ltd., 1990). The location of this anomaly, which
coincides with known gold mineralization, indicates significant potential for a
target similar to that of the Northwest Zone, or alternately, an extension of
the Northwest Zone into the new target area. A complete geophysical analysis
announcing the results from this summer's survey at the Northwest Zone is
forthcoming.
Drill Holes NW12-176 and JZ12-14 also confirm the existence of the new,
gold-bearing "Northwest Deep" horizon, extending over 500 metres (1,640 feet)
long by 60 metres (196.8 feet) wide and up to 40 metres (131.2 feet) thick,
located only 70 metres (229.6 feet) below the Northwest Zone's principle
resource area. JZ12-14 intersected a higher grade interval of 3.56 g/t Au over
2.48 metres (8.14 feet) within 27.93 metres (91.63 feet) that assayed 0.35 g/t
Au. NW12-176 intersected 34.76 metres (114.04 feet) that assayed 0.31 g/t Au.
Together, these two drill holes plus nine additional holes drilled within the
area during Romios' previous exploration campaigns, provide some insight into
the overall extent of the new zone and represent a success rate of 11 out of 11
drill holes that have intersected mineralization within the Northwest Deep
horizon.
Table 1. 2012 Northwest Zone drill hole composite assay highlights, arranged
from north to south. "Northwest Zone" = approximate NI 43-101 inferred resource
area; "Northwest Deep" = newly-discovered gold-bearing horizon; "MS" =
semi-massive to massive sulphide horizons.
From To Total Total Au Cu Ag
Hole ID Zone (m) (m) (m) (ft) g/t % g/t
----------------------------------------------------------------------------
NW12-176 Total Northwest Zone 67.00 120.70 53.70 176.18 1.46 0.13 6.24
------------------------------------------------------------------
MS 67.00 78.35 11.35 37.24 3.99 0.17 2.36
MS 75.92 77.77 1.85 6.07 6.94 0.08 1.07
containing 75.92 76.12 0.20 0.66 11.50 0.23 1.48
MS 80.86 81.00 0.14 0.46 5.66 0.82 4.90
MS 95.31 96.32 1.01 3.31 4.06 0.44 2.71
MS 104.42 106.65 2.23 7.32 0.09 0.04 114.00
MS 118.14 120.70 2.56 8.40 3.75 0.26 5.03
containing 119.20 119.32 0.12 0.39 17.20 0.16 4.55
Northwest Deep 182.55 217.31 34.76 114.04 0.31 0.06 0.39
------------------------------------------------------------------
MS 190.20 196.90 6.70 21.98 0.50 0.07 0.37
MS 215.70 217.31 1.61 5.28 1.31 0.40 1.18
JZ12-14 Northwest Deep 259.45 287.38 27.93 91.63 0.35 0.01 0.14
------------------------------------------------------------------
MS 259.45 261.93 2.48 8.14 3.56 0.07 0.57
containing 260.35 261.93 1.58 5.18 5.13 0.02 0.66
The following represent significant upside potential for the Northwest Zone:
-- A number of significant intersections drilled within the Northwest Zone
deposit contain higher gold grades than adjacent, historical drill
holes, such as hole R-08-07 that assayed 26.44 g/t Au, 0.21% Cu, and
21.36 g/t Ag over a drill hole interval of 14.01 metres (45.95 feet)
within which occurred a section of 0.44 metres (1.45 feet) that assayed
753.00 g/t (21.96 oz) Au, 0.69% Cu and 462 g/t (13.47 oz), and hole R-
06-07 containing 49.4 g/t Au, 0.88 % Cu, and 30 g/t Ag over 1.03 metres
(3.38 feet).
-- Preliminary geophysical results support the Company's interpretation
that mineralization relating to the principal Northwest Zone, and newly-
identified Northwest Deep Horizon, extend into untested ground to the
north and over a greater strike length than previously recognized.
-- Inspection of historic drill core identified numerous intervals of
sulphide mineralization that were not tested by Gulf International
Minerals Ltd. during the initial discovery from 1987-1990. The sulphide
intervals range up to 1.0 metres in core-length from within and adjacent
to the Northwest Zone.
As a matter of procedure, all drill core is cut at the camp using an
electric-powered core saw, bagged and sealed for shipping to SGS Minerals for
processing in Telkwa, BC. 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.
Several geophysical surveys and drill assay results from the remaining six of 14
holes (drilled at the Ken Zone) will be released when received and reviewed by
the Company. Plan-view maps, cross sections, and more information on the
Northwest Zone can be found on Romios' website at www.romios.com/s/Newmont.asp.
The technical information contained in this press release has been reviewed and
approved by Mr. Scott Close, P.Geo, Exploration Manager 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, 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.
Exchange Listings and Symbols: (TSX VENTURE:RG)(OTCBB: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
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.
To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/rmiof1025fig1.pdf.
FOR FURTHER INFORMATION PLEASE CONTACT:
Romios Gold Resources Inc.
Tom Drivas
President and Director
416-221-4124
416-218-9772 (FAX)
romios@romios.com
Romios Gold Resources Inc.
Scott Close, M.Sc, P.Geo.
Exploration Manager
406-366-3880
scott@ethosgeo.com
Romios Gold Resources Inc.
Thomas Skimming, P.Eng
Vice-President, Exploration and Director
416-444-0900
tmsk8ing@hotmail.com
Romios Gold Resources Inc.
Michael D'Amico
CFO, Investor Relations
647-500-6023
Michael@baystreetconnect.com
www.romios.com
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