Romios enters research agreement for Lundmark-Akow Lake

Feb 3, 2022

2022-02-03 09:24 ET – News Release

Mr. John Biczok reports

ROMIOS PARTNERS WITH LAKEHEAD UNIVERSITY TO RESEARCH THE LUNDMARK-AKOW LAKE GOLD AND BASE METALS PROJECT IN NW ONTARIO, SECURES $100,000 IN NSERC FUNDING

Romios Gold Resources Inc. has entered into a research agreement with Dr. Pete Hollings of the geology department at Lakehead University in Thunder Bay, Ont., to conduct graduate-level studies on the gold and base metal occurrences on Romios’s Lundmark-Akow Lake project in Northwestern Ontario. In addition to the financing to be provided by Romios, this research project has been awarded $100,000 in funding by the Natural Sciences and Engineering Research Council of Canada (NSERC).

Highlights:

Two-year graduate-level research program initiated at Lakehead University; drill core samples collected for this research in September, 2021;
One MSc student recruited and study of the volcanogenic massive sulphide-type base metal occurrences and the more than seven-kilometre-long related alteration zone/plumbing system has begun;
Samples collected from all of the significant epithermal-style gold-carbonate veins. Recruitment for an MSc student to work on these samples is under way;
NSERC has approved the project’s application for funding and will be contributing $100,000 to the project over the next two years through the Alliance program.

Lakehead University is consistently ranked as one of the top two undergraduate research universities in Canada by RE$EARCH Infosource, and is in the top quartile of worldwide universities in the physical sciences (as per the Times Higher Education World University Rankings). Dr. Hollings has authored or co-authored more than 130 publications, primarily on mineral deposits and greenstone belt geology, in collaboration with researchers from many countries including Australia, Canada, China and the Philippines. He is currently the NOHFC (Northern Ontario Heritage Fund Corp.) iindustrial research chair in mineral exploration.

“The geology of the gold and base metal systems at Lundmark-Akow Lake is somewhat unusual so we are very pleased to partner with a world-class researcher like Dr. Hollings and his students in our continuing efforts to determine the origins and controls of this mineralization and potentially locate additional gold and base metal zones,” commented John Biczok, PGeo, Romios’s vice-president, exploration.

“We are really excited to be partnering with Romios on the project and thanks to the support from NSERC hope to be able to make a significant advance in the understanding of this interesting system. Romios is providing great support for our students and we look forward to continuing this collaboration,” commented Dr. Hollings, NOHFC industrial research chair in mineral exploration.

Background

The Lundmark-Akow Lake project, located 18 km north of Newmont’s giant Musselwhite gold mine in Northwestern Ontario, covers a variety of mineralized prospects, including at least three VMS-style base metal zones, a high-grade gold-quartz vein (8.64 grams per tonne Au over 4.75 metres), and an unusual series of epithermal-looking, locally gold-bearing calcite veins up to 7.5 m wide. The new research program will focus on the VMS system and the gold-bearing calcite vein system.

After delineating a more than seven km long VMS-style alteration zone through diamond drilling and airborne geophysics from 2014 to 2019, Romios’s drilling in 2019 then intersected three massive sulphide horizons assaying up to 2.4 g/t Au and 1.26 per cent copper over 3.25 m, with locally significant silver, lead and zinc values. Five drill holes targeted the VMS zones in 2021, assays from those holes are pending. The MSc research program will include detailed mineralogical, lithogeochemical and petrographic studies of the VMS alteration pathway and the mineralized horizons; this work is expected to assist the company in vectoring toward additional mineralized zones. Age-dating of the numerous blue quartz-eye porphyry intrusions and felsic volcanics is expected to reveal any links between the intrusive and volcanic units as well as helping to determine if the mineralized units are repeated by folding.

Gold-bearing veins found on the Lundmark-Akow Lake property to date are of two types, which may be genetically related: quartz and pyrrhotite veins assaying up to 8.64 g/t Au over 4.75 m, and coarse-grained, epithermal-looking calcite plus/minus dolomite-pyrite-pyrrhotite-chlorite veins up to 7.5 m wide that are locally auriferous, assaying up to 2.96 g/t Au over one m. These carbonate veins are thought to be formed from deep-seated, high-pressure fluids potentially related to the nearby gold-quartz veins. Similar veins are found in the high-grade Red Lake gold mines of Northwestern Ontario. The 2021 drilling intersected more of these unusual veins up to 2.3 m wide in three holes, assays are pending. The second part of the research program will focus on the mineralogy, conditions of formation (pressure, temperature, fluid chemistry) and the controls on the gold mineralization in these veins. This work is expected to aid Romios in determining the local and regional potential of these veins and any relationship to the gold-bearing quartz veins.

Qualified person

The technical information in this news release has been reviewed and approved by Mr. Biczok, PGeo, vice-president, exploration, for Romios Gold and a qualified person as defined by National Instrument 43-101. In addition to his extensive experience with several major mining companies 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 gold mine in Northwestern Ontario.

About Romios Gold Resources Inc.

Romios Gold is a progressive Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100-per-cent interest in the Lundmark-Akow Lake gold-copper property in Northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the Golden Triangle of British Columbia. Additional interests include two former producers, the La Corne molybdenum mine property (Quebec) and a former high-grade gold producer, the Scossa mine property (Nevada). The company also retains a continuing interest in several properties including a 20-per-cent carried interest in five claim blocks in the Thunder Bay silver district of northwestern Ontario; a 2-per cent net smelter return on the Hislop gold property in Ontario; and a 2-per-cent NSR on the Newmont Lake property in the Golden Triangle, B.C.

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