Toronto, Ontario–(Newsfile Corp. – June 29, 2022) – Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) (“Romios Gold” or the “Company”) is pleased to report on the receipt of high-grade copper and silver assays to go with the previously reported high gold values (See June 14th, 2022 News Release) from chip and grab samples collected in April 2022 at several largely 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 km east of the town of Hawthorne, and are largely accessible by road.
“We are very excited by these high-grade copper and silver assays and the local abundance of bismuth, antimony and mercury in the numerous gold bearing veins recently identified on the southern claims of the Kinkaid property,” stated Stephen Burega, President. “We are developing a coherent geological model of this widespread vein system which will now be explored through detailed geological mapping and advanced tools like hyperspectral satellite image studies and low-level drone magnetic surveys.”
Highlights:
- Several poorly documented or unknown mineral showings were discovered by Romios on the Kinkaid claims in April (see Map #1). All Gold (Au) values noted below were previously reported by Romios on June 14th, 2022. The recently received Copper (Cu), Silver (Ag) and various other metal results are reported here for the first time.
- Au-Cu Adits: A 180 m 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 the 4 typical samples of this material returned assays of 1.04% to 6.59% Cu, 1 to 34 g/t Ag, and 0.3 g/t 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 2-3 m.
- Au-Cu Shaft: An unnamed old mine site consisting of a shaft and a lower adit was also located and sampled. Six samples of andesite and vein material with relatively minor visible copper minerals assayed between 0.55% and 1.38 % Cu. These samples include a >15 cm wide vein of classic epithermal bladed calcite that assayed 0.77% Cu and 3.9 g/t Au and a 1.0 metre chip of a heavily copper stained fault zone nearby assayed 0.89% Cu and 1.8 g/t Au. These zones strike towards the upper shaft in an area largely obscured by dump material.
- Au-Barite: A >75 m long series of adits and dumps on the SE claims listed as a “barite prospect” in the USGS database was also sampled in April. Four quartz vein samples from the dumps with only minor rust spots and no visible sulphides assayed low in copper, ≤ 1,310 ppm Cu, but surprisingly high in lead (0.1% to 0.7% Pb) as well as sporadic highs in antimony (505 ppm Sb) and cobalt (706 ppm Co) in addition to the previously reported range of gold values (0.15 g/t Au to 2.8 g/t Au). The hydrothermal alteration associated with these workings is very extensive and the association of lead and antimony with the gold mineralization would suggest that this is an epithermal vein system that warrants thorough testing.
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Southern Copper-Barite-Silver: This site was a small-scale mining operation in the past (possibly for barite) and Romios’ samples from a ~30 cm wide vein reported in March assayed 212 g/t Silver (6.8 oz/t Ag), 2.3% Copper and 1 g/t Gold with elevated bismuth, antimony and mercury values. Three samples of quartz vein material collected here in April returned elevated gold values from 0.48 g/t Au to 1.29 g/t Au and 2 of these assayed 188 to 192 g/t Ag (6 oz/t Ag), 1.98% to 2.5% Cu, 415 to 1,010 ppm Antimony (Sb) and 62 to 134 ppm Bismuth (Bi). 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 as indicated by the association of Au-Ag-Cu-Sb-Bi-Hg.
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Bismark Au-Ag-Cu Trenches: Assay results of 2 samples of the typical vein material at this undocumented site on the SW claims also confirmed the high-grade results reported in March. The April samples assayed 4.73% Cu and 33.7 g/t Au from a ~40 cm wide rock in the southern trench and 2.16% Cu and 7.53 g/t Au from a sample of one of several quartz veins 8-10 cm wide in a trench 12 m to the north; these are very similar results to the March values: 36.3 g/t Au and 4.8% Cu in the southern trench and 5.8 g/t Au and 1.55% Cu in the northern trench.
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Dozer Trench Au-Cu: The “bulldozer trench” located 125 m SE 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. Two samples collected in April have now assayed 2.08% Cu and 18.3 g/t Au from a quartz vein and 3.21% Cu and 27.7 g/t Au from a piece of the copper-stained host rock to the vein material. A 30 cm mineralized boulder collected in 2021 and reported in March assayed 13.5 g/t Au and 4.34% Cu.
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Montreal Gold-Silver Mine: Additional samples collected here from a range of vein material types on the ~500 m long series of old mine dumps confirmed the high assays reported in March 2022 (those ranged from essentially nil to 24 g/t Au, 3.1% Cu and 8 g/t Ag). The 3 samples with visible chalcopyrite collected in April assayed from 0.8% Cu to 7.39% Cu and 0.16 g/t Au to 18.85 g/t Au, confirming the association of gold with copper (chalcopyrite) bearing vein material.
“These samples were collected from poorly documented old mine workings, and the association of the high-grade copper, gold and silver mineralization with elements such as antimony, bismuth and mercury would indicate that many of these prospects are epithermal vein systems that should have greater potential for vertically zoned gold-silver-base metal mineralization than was perhaps recognized by operators in decades past,” commented John Biczok, Romios’ VP of Exploration.
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 currently underway is expected to outline the alteration zones associated with the Au-Ag-Cu vein systems. Diamond drilling of several showings is anticipated.
Map #1 – Mineral prospects on Romios’ Kinkaid Project with the maximum copper and gold assays for each site from sampling in April 2022.
To view an enhanced version of Map 1, please visit:
https://orders.newsfilecorp.com/files/5376/129442_20d5ac9394009885_003full.jpg.
Photo #1 – Sample #E268328 from the “Au-Cu Adits” dump site. Massive, black, tarnished chalcopyrite (copper-iron sulphide) and green secondary copper mineral staining in a white quartz vein. Assayed 5.7% Cu, 1.7 g/t Au. 34 g/t Ag. One of very many such pieces at this site, some assaying up to 17.9 g/t Au.
To view an enhanced version of Photo 1, please visit:
https://orders.newsfilecorp.com/files/5376/129442_20d5ac9394009885_004full.jpg.
QA/QC
All samples were submitted to the ISO/IEC 17025 accredited ALS laboratory in Reno, Nevada 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 John Biczok, P. Geo., VP-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 NW Ontario.
About Romios Gold Resources Inc.
Romios Gold Resources Inc. 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% interest in the Lundmark-Akow Lake Au-Cu property plus 4 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 the Scossa mine property (Nevada) which is a former high-grade gold producer. The Company retains an ongoing interest in several properties including a 20% carried interest in five of Honey Badger Mining’s claim blocks in the Thunder Bay silver district of northwestern Ontario; a 2% NSR on McEwen Mining’s Hislop gold property in Ontario; a 2% NSR on Enduro Metals Corp.s’ Newmont Lake Au-Cu-Ag property in BC, and the Company has signed a definitive agreement with Copperhead Resources Inc. (“Copperhead”) whereby Copperhead can acquire a 75% ownership interest in Romios’ Red Line Project in BC.
For more information, visit www.romios.com
This News Release contains forward-looking statements which are typically preceded by, followed by or include the words “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans” or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Stephen Burega, President – 647-515-3734 or [email protected]
John Biczok, P. Geo., VP of Exploration – 613-410-7877 or [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129442