Romios’s survey finds EM conductors at Lundmark-Akow
2019-04-29 10:44 ET – News Release
Mr. Tom Drivas reports
ROMIOS’ VTEM(TM) SURVEY RESULTS NOW OUTLINE 10 KM OF HIGH POTENTIAL TARGETS ON STRIKE FROM ITS ATIM LAKE NORTH CU-AU-AG DISCOVERY IN NW ONTARIO
Romios Gold Resources Inc.’s airborne Geotech Versatile Time Domain Electromagnetic Plus survey, recently completed at its Lundmark-Akow Lake copper-gold-silver project in northwestern Ontario, has detected a promising series of electromagnetic conductors over a 6.5-kilometre strike length. These conductors now form part of a 10 km long, high potential target horizon that appears to be the host sequence for the high-grade Atim Lake North Cu-Au-Ag volcanogenic massive sulphide discovered by Romios in 2017 (see Romios news release September 19, 2017). Both the greater than 100 metres wide intense VMS-style hydrothermal alteration pathway associated with this discovery and the mineralization itself have a number of fairly unique geological features that are characteristic of several world class, multideposit massive sulphide camps like Snow Lake, Manitoba, and the giant Singhbhum copper belt in India (Romios’s qualified person has extensive experience in both camps). Romios’s discovery hole, RG-17-1 (1.9 m at 2.35 per cent Cu, 1.4 grams per tonne Au and 68 g/t Ag within a greater than 30 m thick exhalative package), was drilled at the southern end of this 10 km long conductive package; there is no public record of any other drilling along this target. Romios believes that this VMS system has the potential to host multiple massive sulphide deposits along its entire 10 km length and an extensive drill program is being planned to test these targets in the upcoming summer. This property is within 18 km of an all-weather road and powerline servicing the Musselwhite gold mine.
Renewed focus on Musselwhite-type gold targets
In addition to the considerable Cu-Au-Ag massive sulphide potential on this property, Romios’s Lundmark-Akow claims also cover a largely unexplored eight km length of the same banded iron formation that hosts the greater than seven-million-ounce Newmont Goldcorp Musselwhite gold mine 18 km to the south. Gold mineralization at Musselwhite is controlled by several key features including a near-vertical dip and the presence of several silicate facies (sub-units) of the BIF that host the great majority of the gold. Mapping and a reassessment of the few historic drill holes on Romios claims from 1998 indicates that both of these key features are present here. Romios’s qualified person worked for 12 years at Musselwhite where he was senior exploration and research geologist and he will be conducting geological mapping and soil sampling over the Romios iron formation in 2019. The company intends to drill a number of short holes into any portions of the BIF that return anomalous gold-in-soil values. Given the proximity to road and power and an existing mine and mill complex, it is expected that even a low grade, open-pittable deposit will be economic in this area.
High grade gold in shear zones
In recent years significant gold zones have been discovered at Musselwhite outside the iron formation in sheared schists. Romios claims cover the shear-hosted Spence showing which returned assays up to 38.6 ounces per tonne Au in 1997. The last exploration here, in 1998, was focused on a narrow corridor over the discovery outcrop. A broad area around the Spence showing will be explored in detail in 2019 in an effort to determine the full extent of this mineralization.
The technical information in this news release has been reviewed and approved by John Biczok, PGeo, vice-president exploration for Romios, and a qualified person as defined by National Instrument 43-101.
About Romios Gold Resources Inc.
Romios Gold, a progressive Canadian mineral exploration company established in 1995, is engaged in precious and base metal exploration primarily focused on gold, silver and copper. It has extensive claim holdings covering porphyry copper-gold prospects in the Golden Triangle of British Columbia as well as a 100-per-cent interest in the Lundmark-Akow Lake property in Ontario, the LaCorne molybdenum property in Quebec and the Scossa gold property in Nevada. The company also retains a 2-per-cent net smelter return on the Hislop gold property near Timmins, Ont.
We seek Safe Harbor.
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