Romios Gold Resources Inc.
TSX VENTURE : RG
OTC PINK : RMIOF
FRANKFURT : D4R

Romios Gold Resources Inc.

November 07, 2016 08:06 ET

Romios Drilling Substantially Extends Copper-Gold Zone at Its Lundmark-Akow Lake Property

TORONTO, ONTARIO--(Marketwired - Nov. 7, 2016) - Romios Gold Resources Inc. ("Romios" or the "Company") (TSX VENTURE:RG)(OTC PINK:RMIOF)(FRANKFURT:D4R) is pleased to announce assay results from its recently completed four hole diamond drilling program at its Lundmark-Akow Lake copper-gold project in northwestern Ontario, approximately 18 km (11.2 miles) NNW of Goldcorp's Musselwhite gold mine. As reported previously (Romios News Release October 13, 2016), a total of 1,826 m (5,990 ft.) of NQ drilling was completed with individual hole lengths ranging from 399 m (1,309 ft.) to 528 m (1,732 ft.). Three of these holes, #RGR-16-1, RGR-16-2 and RGR-16-4, tested a series of parallel north-northwest trending geophysical anomalies over a strike length of approximately 1,500 m (4,920 ft.). The copper-gold bearing stratigraphic horizon (mineralized zone), identified by Romios in earlier drilling on the property, was expanded significantly by the recent drill program. The mineralized zone was shown to continue to the north for approximately 450 m (1,475 ft.), to the south for 100 m (330 ft.) and to depth of about 120 m (393 ft.) beyond that outlined in the earlier drilling carried out in 1998 and 1999. The projection of the copper-gold zone discovered by Romios in those drill programs was targeted at depths of approximately 200 to 300 m (656 to 984 ft.) in this most recent drilling.

The three recent holes noted above each intersected a package of hydrothermally altered metasedimentary and volcaniclastic rocks including various staurolite-garnet-biotite-sericite schists which hosted intermittent zones of copper-(gold) mineralization. The alteration is commonly pervasive over tens of metres and is evidenced by a pronounced coarsening in minerals such as garnet and staurolite as well as cross-cutting veins of massive biotite with very coarse-grained garnets and/or staurolite. Both the pervasive and vein-type alteration contain chalcopyrite +/- pyrrhotite mineralisation in the form of thin seams along the foliation, semi-massive veinlets, and as fracture fillings in the coarse-grained garnets. Gold values up to 1.4 g/t and copper values up to 2.51% were returned from this program.

The most notable zone of mineralization encountered in hole RGR-16-1 was from 274.7 m to 289.5 m (899 ft. to 950 ft.) (a core length of 14.8 m or 48.6 ft.) which assayed 0.22% copper and 0.1 g/t gold. This intersection is approximately 120 m (393 ft.) vertically below a comparable intersection 12 m (39 ft.) of 0.20% copper and 0.1 g/t gold) that was encountered in hole DDH-99-3 drilled in 1999. The most notable mineralization encountered in Hole RGR-16-2 included two zones, one averaging 0.21% copper and 0.08 g/t gold over a core length of 14.35 m (47.1 ft.) and the other, 0.31% copper and 0.12 g/t gold over a core length of 6.55 m (21.5 ft.) which included a core length of 2.95 m (9.7 ft.) that assayed 0.59% copper and 0.22 g/t gold, Hole RGR-16-4 intersected four zones of mineralization which ranged between 5.3 m (17.4 ft.) and 10.75 m (35.3 ft.) and assayed between 0.13% copper and 0.07 g/t gold and 0.32% copper and 0.18 g/t gold. Drill hole RGR-16-3 tested a partially defined electromagnetic conductor and weak magnetic high about 400 m (1,312 ft.) west of the copper-(gold) zone and did not intersect any significant mineralisation. Drill hole locations are indicated on the map previously posted with the October 13, 2016 news release on the Romios website, www.romios.com.

Drill Hole From (m) To (m) Core length (m) Core length (ft.) Copper % Gold g/t
RGR-16-1 274.70 289.50 14.80 48.56 0.22 0.10
RGR-16-2 365.60 379.95 14.35 47.08 0.21 0.08
RGR-16-2 434.70 441.25 6.55 21.49 0.31 0.12
Including* 434.70 437.65 2.95 9.68 0.59 0.22
RGR-16-4 178.70 185.50 6.80 22.31 0.23 0.07
RGR-16-4 204.00 209.30 5.30 17.39 0.13 0.08
RGR-16-4 297.20 303.95 6.75 22.15 0.16 0.11
RGR-16-4 316.30 327.05 10.75 35.27 0.32 0.18
*Tourmalinite-rich zone

Based on an analysis of core angles within the hydrothermally altered zones, it is believed that the true width of the various mineralized zones described in this press release is approximately 75% of the core lengths shown.

In addition to the altered and mineralized schists described above, drill hole RGR-16-2 also intersected three metres of tourmalinite-bearing sericite schists and tourmalinite veins with abundant chalcopyrite veinlets. The presence of tourmalinite and the overall style and continuity of the alteration and mineralization in the schists suggests that this copper-(gold) zone is part of an extensive hydrothermal system, similar to those found associated with some economic, massive sulphide systems. Lithogeochemical analysis of the altered rocks is underway in an effort to better understand this system, its geological setting and its potential. A more in-depth analysis of the results from the various geophysical programs that have been conducted over the property will also be carried out.

Tom Drivas, President and CEO of Romios, comments: "The recent drilling carried out on Romios' property at Lundmark-Akow Lake to test the significance of a series of parallel north-northwest trending geophysical anomalies over a strike length of approximately 1,500 m (4,920 ft.) encountered extensive disseminated and stringer-type copper mineralization accompanied by a highly anomalous gold component. The results reinforce management's belief that the discovery is one that exhibits considerable potential and may represent a halo of mineralization around a more massive copper sulphide body within an extensive hydrothermal system, one that is worthy of a further comprehensive exploration program which should include considerable diamond drilling."

The drill has been left on-site for potential additional drilling.

All samples were submitted to Activation Laboratories Ltd. in Thunder Bay, Ontario for assay. As a matter of procedure, a rigorous quality assurance and quality control program was implemented to ensure reliable assay results. The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., Consulting Geologist for Romios and a Qualified Person as defined by National Instrument 43-101.

About Romios Gold Resources Inc.

Romios Gold Resources Inc., a progressive Canadian mineral exploration company established in 1995, is engaged in precious and base metal exploration primarily focused on gold, silver and copper in its properties in British Columbia centrally located between Galore Creek Mining Corporation's large copper-gold-silver deposit and Barrick's high grade gold mine at Eskay Creek. In addition to the Lundmark-Akow Lake and Hislop properties in Ontario, Romios has other property interests in Quebec and Nevada.

This News Release contains forward-looking statements which are typically preceded by, followed by or including 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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