Romios Gold begins 2022 exploration program in Ontario

Jun 20, 2022

2022-06-20 11:42 ET – News Release

Mr. Stephen Burega reports

ROMIOS GOLD BEGINS FIELD WORK ON 3 PROJECTS NEAR NEWMONT’S MUSSELWHITE GOLD MINE, NW ONTARIO

Romios Gold Resources Inc. has begun the 2022 exploration field program on three of the company’s projects in the underexplored North Caribou Lake greenstone belt (NCLGB) in Northwestern Ontario, Canada. This belt is home to Newmont’s giant Musselwhite gold mine (more than seven million ounces gold in past production and reserves) but has seen relatively little exploration by other companies since the 1980s.

Highlights

North Caribou River claims:

Located just eight kilometres from the all-weather road into the nearby community of Round Lake, these claims are dominated by the North Caribou River Fault (NCRF) with a series of small but high-grade gold plus/minus copper showings on Romios’ claims, for example 9.9 to 55.7 grams per tonne Au from a 23-centimetre-wide, sulphide-rich vein, as well as locally impressive alteration (see June 16, 2021, news release).
Romios believes that previous explorers neglected the potential for the geologically common situation whereby much better mineralization occurs on a series of splay faults coming off the main fault.
A 2020 airborne very-low-frequency-magnetic survey confirmed the presence of 10 apparent splay faults and soil sampling completed over five of them in 2021 detected a well-defined gold anomaly on one and multielement anomalies on others.
The 2022 program will complete the soil sampling and mapping over the remaining targets in an effort to define the best targets for trenching and possibly drill testing.

Markop Lake project:

Located immediately east of the Musselwhite mine property, this project is another new look at an area based on a major recent revision of the company’s geological understanding.
The Markop Lake area is now known to host Timiskaming-age and style sedimentary-volcanic basins similar to major gold camps like Timmins-Kirkland Lake (see Feb. 8, 2022, news release).
This is one of only three Timiskaming settings known along the northern margin of the North Caribou terrane, the other two host old gold mines (Island Lake, Stull Lake) and Yamana’s major gold-tungsten project at Monument Bay which hosts a measured and indicated resource of 2.1 million ounces of gold at 1.52 g/t Au and 248,000 metric tonne units of tungsten trioxide (Mega Precious Metals National Instrument 43-101 report, November, 2014; calculated at a gold price of $1,092 (U.S.)).
Romios’ upcoming geological mapping and prospecting work will be the first concerted effort to explore this large area adjacent to a giant gold deposit for Timiskaming-type mineralization.

Arseno Lake:

These claims cover 5.6 km strike length of the same banded iron formation that hosts the unusual Arseno Lake deposit now owned by Newmont (approximately 920,000 t at 8.7 per cent lead-zinc plus 1.5 ounces per tonne silver) (see April 27, 2020, news release).
A cluster of untested electromagnetic conductors and volcanic massive sulphie-style alteration occurs on Romios’ claims which are within four km of a road through the community of Round Lake.
A program of basic geological mapping, lithogeochemical sampling and soil sampling is planned to evaluate the potential of this area to determine if ground geophysics and/or drilling are warranted.

Qualified person

The technical information in this news release has been reviewed and approved by John Biczok, PGeo, vice-president of 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 Au-Cu property and four additional claim blocks in Northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the Golden Triangle of British Columbia. Additional interests include the Kinkaid Nevada claims covering numerous Au-Ag-Cu workings and two former producers: the La Corne molybdenum mine property (Quebec) and a former high-grade gold producer — the Scossa mine property in Nevada. The company also retains a continuing interest in several properties including a 20-per-cent carried interest in five of Honey Badger Mining’s claim blocks in the Thunder Bay silver district of Northwestern Ontario; a 2-per-cent net smelter returns royalty on McEwen Mining’s Hislop gold property in Ontario; and a 2-per-cent NSR on Enduro Metals Corp.’s Newmont Lake Au-Cu-Ag property in B.C.

We seek Safe Harbor.

https://romios.com/