Romios drills 4.75 m of 8.64 g/t Au at Lundmark-Akow
2019-08-19 08:08 ET – News Release
Mr. John Biczok reports
ROMIOS DRILLING INTERSECTS LARGE RED LAKE TYPE CARBONATE VEINS AND EXPANDS ITS GOLD DISCOVERY ON ITS LUNDMARK-AKOW LAKE PROJECT IN NW ONTARIO
All assay results from the June diamond drilling program on Romios Gold Resources Inc.’s Lundmark-Akow Lake Cu-Au-Ag (copper-gold-silver) project in Northwestern Ontario have been received and have significantly expanded the potential of the gold discovery announced in July (8.64 grams per tonne gold over 4.75 metres, see Romios news release dated July 10, 2019). The gold-bearing quartz-pyrrhotite discovery vein was intersected in hole RGR-19-5 at the eastern end of a coincident VTEM airborne EM conductor which is 300 to 400 metres long. A similar but lower-grade vein was intersected in hole RGR-19-6, drilled from the same set-up as hole RGR-19-5 but in the opposite direction to test a parallel series of multiple conductors. This vein was intersected 330 m northeast of the discovery vein at the tail end of a 700 m long conductor and assayed 0.5 gram per tonne gold over 7.35 m with individual assays between 96 parts per billion and 1.9 g/t Au. Drilling is planned in September to test the stronger central portions of both EM (electromagnetic) conductors. Assay results of the 2019 program are summarized in the associated table.
A potentially very significant additional discovery in both holes RGR-19-5 and RGR-19-6 is the occurrence of several large, sporadically gold-mineralized carbonate (mainly calcite) veins in close proximity to the gold-bearing quartz-pyrrhotite veins. These veins have distinctive, well–developed open-space filling 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. Such vein textures are thought to reflect high-pressure, deep-seated and long-lived fluid systems that were an integral part of gold ore formation in these major gold camps. A 6.5 m wide carbonate vein in drill hole RGR-19-6 returned individual gold values ranging from nil to 2.96 g/t Au and averaged 0.54 g/t Au. A large calcite vein in RGR-19-5 averaged 0.7 g/t Au over 5.7 m with individual assays from about nil to 1.85 g/t Au. A second, 7.5 m wide, calcite vein in this hole returned lower, but still anomalous values between 15 and 730 ppb Au. This latter vein is particularly significant for the presence of a one-metre-wide lamprophyre dike within the vein, suggesting that the mineralized vein structures are deep seated. This same type of carbonate vein is generally barren to weakly mineralized in the Red Lake and Timmins-Porcupine camps consequently the presence of gold grades up to 2.96 g/t Au in the Lundmark-Akow Lake veins is considered encouraging for the overall potential of this area.
In addition to the gold bearing quartz-pyrrhotite vein, drill hole RGR-19-6, as well as the adjacent drill hole RGR-19-5, intersected scattered zones of chalcopyrite vein mineralization in otherwise fresh looking basalt. These veinlets were observed from the bedrock surface (about four m depth) to a hole depth of 41 m in RGR-19-6, and assayed 0.26 per cent copper over 33.7 m with gold values ranging from nil to 2.85 g/t Au. This mineralization flanks a blue quartz-eye — feldspar porphyry which is also locally mineralized and returned an intercept of 2.3 m grading 2.2 g/t Au and 0.37 per cent Cu. This type of intrusion is associated with many VMS (volcanogenic massive sulphide) deposits and its discovery along with the widespread copper mineralization in the adjacent volcanic rocks greatly enhances the geological potential of this area. Six VTEM conductors remain to be tested in the immediate vicinity of holes RGR-19-5 and RGR-19-6 while another seven conductors occur along strike within three km. The drill used in this program is on site for a follow-up program expected to begin in September, 2019.
Drill holes RGR-19-1 to 4 targeted the northward continuation of the same VMS-style alteration zone that led to the discovery of the high-grade Cu-Au-Ag massive sulphide at Atim Lake North in 2017 (see Romios news release Sept. 19, 2017). These holes were successful in extending the known length of this impressive alteration zone from three km to seven km. Several conductors flanking this alteration pathway are now considered high-priority VMS targets which will be tested in a future drill program.
SUMMARY OF ASSAY RESULTS, JUNE, 2019, DRILL PROGRAM
Drill hole From To Drilled width** Au Cu
(m) (m) (m) (g/t) (%)
RGR-19-001 35.10 38.40 3.30 0.18 0.44%
RGR-19-002 NSR* - -
RGR-19-003 NSR* - -
RGR-19-004 164.85 165.35 0.50 0.78 0.99%
RGR-19-005 33.55 34.35 1.45 4.30 1.33
RGR-19-005 58.30 65.80 7.50 NSR* NSR*
RGR-19-005 93.90 99.65 5.75 0.68 0.05
RGR-19-005 288.85 293.60 4.75 8.64 0.05
including 292.80 293.60 0.80 31.30 0.03
RGR-19-006 8.00 41.70 33.70 0.14 0.26
including 28.60 29.00 0.40 2.85 2.11
RGR-19-006 71.70 73.35 1.65 3.05 0.47
RGR-19-006 127.70 134.20 6.50 0.54 0.02
including 131.00 132.00 1.00 2.96 NSR*
RGR-19-006 151.10 158.45 7.35 0.51 0.34
* NSR: no significant assay results.
** True width estimated to be 80 to 85 per cent of drilled width.
High-grade gold in shear zones
In addition to the aforementioned gold and massive sulphide targets, Romios’s Lundmark-Akow Lake claims cover the shear zone-hosted Spence showing which returned grab sample assays in 1997 ranging from 0.358 to 38.6 ounces per ton Au from a blast trench in copper-mineralized sheeted veins. Soil sampling conducted in June, 2019, revealed a prominent copper anomaly up to 1,660 parts per million Cu over a linear magnetic low that flanks the mineralized outcrops. Additional sampling will be undertaken in September to delineate the extent of this anomalous structure.
The company has a 100-per-cent working interest in the 5,035-hectare (12,442 acres) 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.
John Biczok, PGeo, vice-president, exploration, for Romios, commented: “Results from holes RGR-19-5 and RGR-19-6 confirm the presence of significant gold and copper mineralization across a 330 m wide portion of a large and previously untested cluster of EM conductors that is at least 800 m wide and three km long. The significant length of the individual conductors, which are coincident with the wide mineralized veins, plus the broad zones of copper-gold mineralization, the presence of the large mineralized calcite veins, and the abundance of quartz-feldspar porphyry intrusions, all suggest that there is a high probability of finding a significant mineralized system in this area. The presence of the large carbonate veins with distinctive Red Lake-style open-space filling textures and associated lamprophyre dikes in particular is compelling evidence for the deep-seated and potentially widespread nature of the mineralizing fluids.”
All samples were submitted to the ISO/IEC 17025-accredited Actlabs laboratory in Thunder Bay, Ont., for assay. As a matter of procedure, a rigorous quality assurance and quality control program was implemented to ensure reliable assay results. 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. 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 on its properties in the Golden Triangle area, northwestern British Columbia. In addition to the properties in the Golden Triangle area, Romios holds a 100-per-cent interest in the Lundmark-Akow Lake property in Ontario, the La Corne property in Quebec and the Scossa property in Nevada. It also holds a 2-per-cent NSR (net smelter royalty) on the Hislop property in Ontario.
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