Romios Gold grab samples up to 17.9 g/t Au at Kinkaid

Jun 14, 2022

2022-06-14 11:46 ET – News Release

Mr. Stephen Burega reports

ROMIOS GOLD REPORTS HIGH-GRADE ASSAYS UP TO 17.9 G/T AU FROM PREVIOUSLY UNDOCUMENTED PROSPECTS ON THE KINKAID PROJECT, NEVADA

Romios Gold Resources Inc. has released high-grade gold assay results from chip and grab samples collected in April, 2022, at several previously undocumented or poorly known historic gold-copper-silver prospects on the company’s recently acquired Kinkaid project in Nevada.

The Kinkaid claims cover 911.2 hectares (2,252 acres) in Mineral County, 18 kilometres east of the town of Hawthorne, and are largely accessible by road. To date only the gold assays have been received from the April sampling; the multielement analyses, including the copper and silver results, are pending.

“We are extremely encouraged now by the shear number of gold-bearing veins that we have found on the Kinkaid property, and expect that the pending copper and silver assays will only increase their potential,” stated Stephen Burega, president.

Highlights:

Several poorly documented or unknown mineral showings were discovered by Romios in the field in April and sampling has returned encouraging gold results from all of them. Many samples are expected to return high copper plus/minus silver values as well (based on the presence of abundant copper minerals and their similarity to the numerous other showings in the same area — See March 10, 2022, news release):
- Au-Cu adits: A 180-metre-long series of shafts and adits was located at an unnamed prospect on the southern claims. The dump material at these workings is typically very copper-rich and three representative quartz vein samples have assayed from 0.3 gram per tonne Au to 17.9 g/t Au. The veins are not exposed at the entrances to the workings but the host rocks are highly altered and sheared for widths of at least two to three m;
- Au-Cu shaft: An unnamed old mine site consisting of a shaft and a lower adit was located 775 m northeast of the southern copper-barite prospect. A greater-than-15-centimetre-wide vein of classic epithermal bladed calcite was located in the adit entrance and assayed 3.9 g/t Au. A one m chip of a heavily copper-stained fault zone nearby assayed 1.8 g/t Au. These zones strike toward the upper shaft in an area largely obscured by dump material;
- End of the Road Au-Cu trench: A single trench was located 300 m southwest of the aforementioned shafts and adits. This blast trench exposes an approximately two m wide series of quartz-calcite veins with excellent epithermal textures. Representative samples of this material assayed 8.5, 7.2 and 0.4 g/t Au;
- Au-Barite: A greater than 75 m long series of adits and dumps on the southeastern claims listed as a barite prospect in the USGS (United States Geological Survey) database was located and sampled in April. Two quartz vein samples from the dumps assayed 2.1 and 2.8 g/t Au and two other vein samples returned lower but still anomalous results: 0.15 and 0.38 g/t Au. The hydrothermal alteration associated with these workings is very extensive.
Southern copper-barite: Additional sampling and mapping was also conducted at this prospect originally sampled in November, 2021. This site was a small-scale mining operation in the past (for barite?) and Romios’s samples from an approximately 30 cm wide vein reported in March assayed 212 g/t silver (6.8 ounces per ton Ag), 2.3 per cent copper and one g/t gold with elevated bismuth, antimony and mercury values. This poorly documented prospect vein is within a 300 m long discoloured area visible on the ground and on satellite imagery and is now thought to be part of an epithermal vein system. Three samples of quartz vein material collected here in April returned gold assays from 0.48 g/t Au to 1.29 g/t Au; Cu and Ag assays are pending.
Bismark Au-Ag-Cu trenches: Assay results of two samples of the typical vein material at this undocumented site on the southwestern claims also confirmed the high-grade results reported in March (36.3 g/t Au and 4.8 per cent Cu in the southern trench and 5.8 g/t Au and 1.55 per cent Cu in a second trench 12 m to the north). The April samples assayed 33.7 g/t Au from an approximately 40 cm wide rock in the southern trench and 7.53 g/t Au from a sample of one of several quartz veins eight to 10 cm wide in the northern trench.
Dozer trench Au-Cu: The bulldozer trench located 125 m southeast of the Bismark site was also revisited and sampled. Numerous copper (chrysocolla)-stained rocks are found at this site in the overburden but the bedrock source has not been located as yet. A 30 cm mineralized boulder collected in 2021 and reported in March assayed 13.5 g/t Au and 4.34 per cent Cu. Two samples collected in April have now assayed 18.3 g/t Au from a quartz vein and 27.7 g/t Au from a piece of the copper-stained host rock to the vein material.
Montreal gold-silver mine: Additional samples collected here from a range of vein material types on the approximately 500 m long series of old mine dumps confirmed the high assays reported in March, 2022 (ranging from essentially nil to 24 g/t Au, 3.1 per cent Cu and eight g/t Ag). The four samples collected in April assayed from 0.045 g/t Au up to 18.85 g/t Au and confirmed the association of gold with copper (chalcopyrite)-bearing vein material.
Alteration mapping: Romios has engaged Photosat Inc. of Vancouver, B.C., to produce a series of alteration mineral maps of the Kinkaid property using short-wave infrared imagery from the WorldView-3 satellite. Many of the Au-Ag-Cu showings at Kinkaid are associated with prominent clay, jarosite and other hydrothermal alteration minerals that are expected to be clearly evident on these hyperspectral survey maps. This satellite imagery is expected to allow Romios geologists to quickly and efficiently trace out many of the poorly documented, high-grade mineral showings on this large, treeless claim block.

“Romios’s brief prospecting and sampling program in April at Kinkaid has returned some surprisingly good gold results from poorly documented old showings, most of which are simply listed as barite occurrences in the government database,” commented John Biczok, Romios’s vie-president of exploration. He continued: “The association of barite with high-grade gold-silver epithermal-style mineralization is now well understood but may not have been in decades past when these prospects were first explored. With the price of gold being so much lower at that time, the gold potential of many prospects was often ignored if the grades were not over one oz/t Au. We look forward to the upcoming satellite image study and further field work to define these vein systems more fully and advance the best targets to the drill stage.”

2022 exploration plans

Romios plans to undertake a program of detailed geological mapping and sampling across the Kinkaid property in 2022 with emphasis on the numerous mineralized showings. A drone magnetic survey is expected to be particularly useful in tracing the skarn horizon targets under cover and a hyperspectral satellite image study is expected to outline the alteration zones associated with the Au-Ag-Cu vein systems. Diamond drilling of several showings is anticipated.

Quality assurance/quality control

All samples were submitted to the ISO/IEC 17025-accredited ALS laboratory in Reno, Nev., for assay. As a matter of procedure, a rigorous quality assurance and quality control program was implemented in the form of blanks and certified reference material standards at every 10th position in the sample series. The assay results of these standards and blanks were well within the acceptable ranges.

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 Resources 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 return on McEwen Mining’s Hislop gold property in Ontario; and a 2-per-cent NSR on Enduro Metals Corp.’ Newmont Lake Au-Cu-Ag property in B.C.

We seek Safe Harbor.

https://romios.com/