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Romios Gold Resources Inc (RG:CA)

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Web site: 
http://www.romios.com

“Unprecedented Opportunities” in "Final Frontier"  of  B.C.’s Golden Triangle

        - British  Columbia Ministry of Forests,  Mines and  Lands
Romios Gold Resources Inc. is a Canadian exploration company aggressively exploring for gold and base metals in major established mining districts throughout North America.

HIGHLIGHTS

  • Discovered wide zones of copper-gold porphyry style mineralization at the Trek Property which is contiguous to
    the GCMC (NovaGold-Teck Resources) Galore Creek project  and immediately adjacent to their proposed mill site.
  • Titan24 Survey undertaken in 2010 identified significant untested anomalies in the North and Tangle Zones at the Trek Property  to be tested in the current exploration program  which  commenced in May 2011.
  • Extensive drilling planned in 2011  to extend mineralization and develop resource at Trek.
  • Newmont Lake NI 43-101 inferred resource includes approximately 200,000 oz. Au at 4.43 g/t, 6.8 million lbs. Cu  at 0.22% and 300,000 oz. Ag at 6.4 g/t in NW Zone. Drilling to test the extension of the high grade breccia

    zone and other  mineralized zones to expand the existing resource is being planned.
  • Four porphyry-style zones of copper-gold mineralization discovered on Dirk claims in Galore Creek area. Drilling planned in the summer  2011  program.
  • Additional drilling completed at past-producing La Corne Molybdenum mine site. Open pit potential and  opportunities for lithium  and other  rare earth elements are being assessed.
  • Approximately $6+ million exploration program in BC started May 2011.

British Columbia properties - The Romios Galore Area Project


Click to enlarge

Trek  |  approximately 4,737 hectares

  • Located adjacent to substantially completed Galore Creek access road and near GCMC’s (NovaGold/Teck Resources) recently proposed Galore Creek mill site.
  • Numerous mineralized porphyry occurrences containing significant Cu-Au mineralization and untested Titan24 anomalies.

Highlights of drill sections include:



High-Grade Intercept highlights from the 2008-2010 drill program are as follows:

TRK08-01: 32.0 metres (105 ft.) of 2.06% Cu, 1.05 g/t Au and 26.01 g/t Ag

TRK08-02: 27.0 metres (89 ft.) of 0.31% Cu, 3.27 g/t Au and 5.71 g/t Ag

TRK09-09:  4.5 metres (15 ft.) of 2.16% Cu, 1.66 g/t Au and 12.03 g/t Ag

TRK10-03:  4.6 metres (15 ft.) of 3.84% Cu, 1.82 g/t Au and 8.52 g/t Ag

TRK10-05: 10.0 metres (33 ft.) of 0.76% Cu, 0.99 g/t Au and 1.3 g/t Ag

TRK10-08:   8.0 metres  (26 ft.) of 1.52% Cu, 0.75 g/t Au and 5.98 g/t Ag

These intercepts lie within wider mineralized zones as follows:

TRK08-01: 131.4 metres (431 ft.) of 0.61% Cu, 0.39 g/t Au and 8.47 g/t Ag

TRK08-02: 124.7 metres (409 ft.) of 0.19% Cu, 0.82 g/t Au and 8.47 g/t Ag

TRK09-09: 159.0 metres (522 ft.) of 0.19% Cu, 0.13 g/t Au and 1.06 g/t Ag

TRK10-03: 102.0 metres (335 ft.) of 0.37% Cu, 0.15 g/t Au and 1.18 g/t Ag

TRK10-08: 50.8 metres (166 ft.) of 0.33% Cu, 0.18 g/t Au and 2.68 g/t Ag

  • In the summer of 2010, Romios conducted Titan24 surveys over the North and Tangle Zones. The results correlate well with the known geology and geochemistry on the North and Tangle Zones, as well as the drilling completed to date on the North Zone.
  • On the North Zone, the three Titan24 lines located  a large deep MT anomaly 500 metres by 300 metres by 200 metres open to the north and south, and underlying the previous drilling at a depth of 500 to 675 metres.  Three strong IP anomalies overlie the MT anomaly. The anomalies provide a major opportunity for Romios to add significant resource tonnage to the North Zone and will be tested commencing May 2011.
  • The Tangle Zone survey identified three strong IP anomalies located over a deep MT zone. The IP anomalies and the MT anomaly show very close correlation with the 700 by 200 metre area with the highly mineralized grab samples and strong Cu-Au soil geochemistry conducted in 2009. They will be well-tested in the 2011 exploration program.

Newmont Lake  |  approximately 39,932 hectares

  •     1,406,000 tonnes of NI 43-101 inferred resources (NW Zone).
  •       200,000 oz. gold at 4.43 g/t.
  •       6,790,000 lbs. copper at 0.22%.
  •       291,000 oz. silver at 6.4 g/t.
  • Metallurgical DDH at North West Zone cut high grade mineralization grading 753 g/t (21.96 oz.) Au, 462 g/t (13.47 oz.) Ag and 0.69% Cu over a core length  of 0.44 metres (1.45 ft.) within a breccia zone. (see Press Release Sept. 22, 2008).

Drill results outlined in the Press Release dated November 26, 2008, include:

  • DDH R-08-05 located 153 m (502 ft.) northeast of R-08-07 intersected 185 g/t Au, 108.0 g/t Ag and 3.28% Cu over 0.34 m (1.10 ft.).
  • DDH R-08-08 located 284 m (931.5 ft.) northeast of R-08-07 intersected 17.92 g/t Au, 3.38 g/t Ag and 0.18% Cu over 1.63 m (5.30 ft.).
  • DDH R-08-11 located 35 metres (114.9 ft.) southwest of DDH R-08-05 intersected 36.45 g/t (1.17 oz.) gold, 23.92 g/t (0.76 oz.) silver and 0.70% copper over 1.76 metres (5.70 ft.).
  • Drilling and exploration commenced May 2011, to expand high-grade breccia zone and increase resource.
  • Scoping study planned.

Dirk  |  approximately 13,091 hectares

  • This property was staked by Romios to cover historic Cu-Au showings. Reconnaissance mapping showed three high grade showings separated by an ice field, but similar enough to suggest one major mineralized zone.
  • Dirk Zone:  Eight one-metre (26 ft.) chip samples averaged 2.9% Cu and 0.64 g/t Au.
  • The Telena Zone:  A 7.0 metre (23 ft.) section averaged 2.0% Cu and 0.71g/t Au  with two one-metre sections of 5.55% Cu 1.38 g/t Au and 16.2 g/t Ag, and 5.69% Cu, 2.2 g/t Au and 20.7 g/t Ag.
  • Ridge Zone: Grab samples included 3.49% Cu and 0.28 g/t Au; 2.47% Cu and  0.19 g/t Au; 1.83% Cu and 0.38 g/t Au; and 1.83 % Cu and 0.49 g/t Au.
  • Romios commenced its exploration program in May 2011 to drill these showings.
  • Aggressive exploration and drilling commenced May 2011, to expand  mineralization for the development of a resource.

Quebec property

La Corne |  approximately 1,081 hectares

(Molybdenum, Bismuth, Lithium, and REE)

  • Located in northwestern Quebec approximately 30 km from Val d’Or, at the
    site of the former producing La Corne molybdenum mine which is reported to  
    have produced 3,838,844 tons grading 0.33% MoS2 and 0.04% bismuth.
  • 5,738 m (18,825 ft.) drilling program completed in 2008.
  • 0.0064% Bismuth, 0.120 g/t Silver and 0.012% Lithium (see Press Release February 12, 2009).
  • Drill core was re-assayed by Chemex resulting in an 8.1% weighted average  
    increase in the overall grade of MoS2 (from 0.0483% to 0.0526%)
    (see Press Release dated October 15, 2009).
  • Romios is evaluating historical information and current diamond drilling     
    results to determine the extent of the mineralization and bulk tonnage potential
    of the deposit.

Ontario properties

Timmins  Hislop   |  approximately 65 hectares

  • Located in Hislop Township on the southwestern edge of the prolific Destor-Porcupine Fault surrounded by a number of significant gold occurrences and deposits.
  • In 1988, a diamond drilling program carried out by Chevron Minerals encountered gold mineralization in 6 of the 15 holes that were drilled.
  • Located immediately adjacent to 3 properties which have significant gold resources. St. Andrews Gold Mine is now in production which is immediately adjacent to the east.
  • Other new gold mines currently under development in the area.
  • Further exploration planned.


Lundmark-Akow Lake | approximately 2,751 hectares

Located in the centre of the North Caribou Lake greenstone belt in northwestern Ontario.

  • Romios claims are underlain by banded iron formations analogous to those hosting the Musselwhite gold deposits owned by Goldcorp Inc.  Musselwhite is producing nearly a quarter of a million ounces of gold annually.
  • Exploration by Romios has identified evidence of widespread gold mineralization.
  • A zone of extensive copper mineralization believed to reflect a more massivesulphide occurrence at depth.
  • Will resume exploration and drilling as soon as an agreement is concluded with the North Caribou First Nations Community.

 
 

Nevada property

Scossa Gold | approximately 398 hectares

  • Located 6 miles from Rosebud Mine (500,000 oz. Au production) and 8 miles from Hycroft Mine (1,000,000 oz. Au production).
  • 1930’s operated as a high grade underground gold mine.
  • The property encompasses a number of steeply dipping, gold-bearing epithermal, brecciated quartz veins and fault breccias that range from several feet to more than 3.0 metres (10 ft.) in width.
  • A number of exceptional high grade gold intersections were encountered, incurring up to 364.04 g/t (10.63 oz.) gold over 1.83 metres (6.0 ft.).
  • 30 drill holes have been completed to test a number of gold-bearing epithermal quartz breccia veins.
  • Gold found in every drill hole to date.
  • Additional drilling and exploration is planned.

Corporate Information

Share Structure (as of May 26, 2011):

Shares Outstanding: 139 million

Fully Diluted: 154 million

52 Week Range: $0.68 - $0.10

Recent Share Price (May, 2011):   $0.45

Market Capitalization: $62.5 million (approx.)

Cash on Hand: $4.7 million (approx.)
Management Team:

Anastasios (Tom) Drivas, President, CEO and Director

Thomas Skimming, P.Eng., Director

Jack McOuat, P.Eng., Director

Brian Robertson, P. Eng., Mining Engineer, Director

Garth Kirkham, P. Geoph, Director

Mel de Quadros, Ph.D,, P.Eng., Geologist, Director William Johnstone LL.B., Corporate Secretary & Director Frank van de Water, C.A., Director, Chair of Audit Committee Michael D’Amico, C.A., Chief Financial Officer
Head Office:

25 Adelaide Street East,  Suite 1010

Toronto, Ontario, Canada

M5C 3A1

Phone: 416-221-4124

Fax: 416-218-9772

E-mail: romios@romios.com

www.romios.com

Transfer Agent: Equity Financial Trust Company

Legal  Counsel: Gardiner Roberts LLP

Links: 
Photo Galleries
Deep Imaging
Corporate Update
Corporate Presentation
RG:CA
Category: 
Mining

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