Company: Romios Gold Resources
Website: www.romios.com
Stock Symbol: TSXV:RG
Date Published: Nov 10, 2022
Transcript: Available

Video Transcript:

Romios Gold Resources (TSXV:RG) (OTCQB:RMIOF) (FSE:D4R) reports that its 2022 IP survey at Trek South has detected a strong IP chargeability high.

The newly discovered Trek South porphyry copper-gold target is part of the 6,346-hectare Trek claims, one of the company’s extensive claim holdings covering several significant porphyry copper-gold prospects in the “Golden Triangle of British Columbia.

The Trek South project sits within 1.3 km of the partially cleared road route to Teck and Newmont's enormous Galore Creek Cu-Au porphyry deposit(s) and just 13 km from the proposed Galore Creek mill site.

The new IP chargeability high is interpreted to be greater than 800 meters long and up to 500 meters wide that extends beyond 600 meters in depth beneath both a large, newly discovered, copper and tungsten bearing skarn, and the ~1 km wide porphyry-style alteration and mineralization zone discovered in 2021.

A subsequent MT (Magnetotelluric survey) survey over one of the IP lines (L1) defined a low resistivity feature that extends the IP anomaly to a depth of ~2 km.

A new 3D inversion model of a past aeromagnetic survey has identified a suspected buried pluton underlying the IP anomaly and this is now thought to be the likely source pluton of the porphyry Cu-Au system.

Additionally, the IP anomaly flanks both a recently exposed granodiorite pluton and a postulated buried pluton reflected by a circular aeromagnetic high.

The skarns and the coincident IP anomaly strike toward both a newly mapped granodiorite pluton >600 m wide and a suspected buried pluton, ~1.1 km x 0.8 km, indicated by a recently completed inversion model of an aeromagnetic high.

The contacts of the Trek South skarn/IP anomaly with these 2 nearby plutons represent high priority drill targets as the intersection of skarn zones with their source pluton can typically be expected to produce an increase in their size and grade.

John Biczok, P. Geo., VP of Exploration, stated: "The 2022 Trek South summer program was very successful in defining a major geophysical (IP-MT) target underlying the centre of the >1 km wide porphyry-style Cu-Au zone that Romios discovered in 2021. This area has never been drill-tested. The discovery of a copper-tungsten mineralized skarn coincident with part of this strong IP anomaly significantly increases the potential for substantial mineralization within this very well-defined drill target."

A newly discovered area of skarnified sediments locally mineralized with copper and tungsten has been identified over an area >275 metres x 80 metres; 21 of the 28 chip and grab samples collected here returned tungsten assays from 0.04% to 0.68% WO3, average 0.24% WO3, and copper values from 0.05 to 0.98% Cu, average 0.27% Cu.

Stephen Burega, President and CEO, added: "The combination of a large skarn target flanking an intrusion that is a potential host to porphyry type mineralization creates a drill target of the highest priority that will require a substantial financial commitment, and we are actively engaged in identifying a potential partner to bring their expertise and funding to support this important program. Both the strength and the size of the main anomaly are very encouraging and, while there is no guarantee of economic mineralization here, the size of the anomaly is comparable to some of the individual ore bodies at the Galore Creek deposit and it is flanked by 3 additional anomalies that remain to be evaluated in the field."

The company has a number of 100% owned projects including the Lundmark-Akow Lake Au-Cu property plus 4 additional claim blocks in northwestern Ontario.

Additional interests include the Kinkaid claims in Nevada covering numerous Au-Ag-Cu workings and two former producers: the Scossa mine property in Nevada which is a former high-grade gold producer and the La Corne molybdenum mine property in Quebec.

The company also 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' Newmont Lake Au-Cu-Ag property in BC, and a definitive agreement with Copperhead Resources Inc. whereby Copperhead can acquire a 75% ownership interest in Romios' Red Line Property in BC.

The shares are currently trading at $0.035.

For more information, please visit the company’s website at www.Romios.com, contact Stephen Burega, President and CEO, at 647-515-3734 or email SBurega@romios.com, or John Biczok, P. Geo., VP of Exploration, at 613-410-7877 or by email at JBiczok@romios.com.