Romios Gold stakes 142 claims adjacent to Lundmark
2019-09-10 09:26 ET – News Release
Mr. Frank van de Water reports
ROMIOS STAKES 142 MORE CLAIMS ADJACENT TO ITS RECENT GOLD DISCOVERY AT LUNDMARK-AKOW LAKE IN NW ONTARIO
Romios Gold Resources Inc. has acquired by staking another 142 claims adjacent to the company’s recent gold discovery in the northwest portion of its Lundmark-Akow Lake project in Northwestern Ontario. The claims cover approximately 2,987 hectares (7,381 acres) and were staked over areas that are of geophysical interest based on the geological model of the discovery zone area.
Romios’s gold discovery in June, 2019, was highlighted by a quartz-pyrrhotite vein, with numerous specks of visible gold, which assayed 8.64 grams per tonne Au over 4.75 metres (see Romios news release July 10, 2019). This vein was intersected in drill hole RGR-19-5 at the eastern end of a coincident VTEM airborne EM conductor which is 300 to 400 metres long and is noticeably stronger west of the intercept. A geologically similar but lower grade vein 7.35 m wide was intersected in hole RGR-19-6, 330 m northeast of the discovery vein, and returned individual assays between 96 parts per billion and 1.9 g/t Au. This intercept is located at the tail end of a 700 m long conductor which is also stronger to the west of the intercept. Both of these mineralized veins are associated with large, sporadically gold-mineralized carbonate (mainly calcite) veins (see Romios news release dated Aug. 19, 2019). These veins have distinctive textures typical of the barren to weakly mineralized carbonate veins found near the high-grade gold veins in the Newmont Goldcorp Red Lake mine as well as some of the major deposits in the Timmins-Porcupine gold camp. The Romios veins returned assays ranging from nil to 2.96 g/t Au and are thought to be part of a high-pressure, deep-seated and long-lived mineralizing fluid system.
The geology and styles of mineralization encountered on the northwestern claims in holes RGR-19-5 and 6 are unique in this area. As well as the gold-bearing quartz-pyrrhotite and calcite veins, they include broad zones of chalcopyrite vein mineralization and numerous blue quartz-eye — feldspar porphyry intrusions that may be indicative of a volcanic centre. This intrusive-volcanic complex lies directly along strike from the over seven km long VMS (volcanogenic massive sulphide) style alteration pathway believed to be responsible for the deposition of high-grade massive sulphides six km to the southeast at Atim Lake North (1.9 m at 2.35 per cent Cu, 1.4 g/t Au and 68 g/t Ag; see Romios news release Sept. 19, 2017). This association suggests that the northwestern claims have significant potential for not only gold-bearing quartz-pyrrhotite veins but VMS (volcanogenic massive sulphide) mineralization as well. In addition to the two EM (electromagnetic) conductors coincident with the gold-bearing veins, six additional VTEMTM conductors remain to be tested in the immediate vicinity of holes RGR-19-5 and RGR-19-6 while another seven substantial conductors occur along strike within three km.
The drill used in the June program remains on site and preparations are under way for a resumption of drilling in September, 2019.
The company has a 100-per-cent working interest in the 8,022-hectare (18,823-acre) Lundmark-Akow Lake property, part of which is subject to a 3-per-cent net smelter return royalty held by a corporation controlled by the president and chief executive officer of the company.
The technical information in this news release has been reviewed and approved by John Biczok, PGeo, vice-president of exploration for Romios, and a qualified person as defined by National Instrument 43-101. In addition to his extensive experience exploring for a wide variety of ore deposit types across Canada and India, Mr. Biczok spent 12 years conducting exploration and research at the Musselwhite mine just 18 km from the Lundmark-Akow Lake property.
About Romios Gold Resources Inc.
Romios Gold Resources, a progressive Canadian mineral exploration company established in 1995, is engaged in precious and base metal exploration primarily focused on gold, silver and copper. In addition to the Lundmark-Akow Lake property in Ontario, it has extensive claim holdings covering porphyry copper-gold prospects in the Golden Triangle of British Columbia as well as the La Corne molybdenum property in Quebec and the Scossa gold property in Nevada. The company also retains a 2-per-cent net smelter royalty on the Hislop gold property in Ontario.
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