Toronto, Ontario–(Newsfile Corp. – June 14, 2022) –( ) (OTCQB: RMIOF) (FSE: D4R) (“Romios Gold” or the “Company”) is pleased to report on 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 km 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 multi-element 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.
- 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 (see Map #1). Many samples are expected to return high copper +/- 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 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 (see Photo #1) and 3 representative quartz vein samples have assayed from 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 located 775 m NE of the “Southern Copper-Barite” prospect. A >15 cm wide vein of classic epithermal bladed calcite was located in the adit entrance and assayed 3.9 g/t Au. A 1m chip of a heavily copper stained fault zone nearby assayed 1.8 g/t Au. These zones strike towards 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 SW of the aforementioned shafts and adits. This blast trench exposes a ~2m 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 >75 m long series of adits and dumps on the SE claims listed as a “barite prospect” in the USGS 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’ 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. 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 2 samples of the typical vein material at this undocumented site on the SW claims also confirmed the high-grade results reported in March (36.3 g/t Au and 4.8% Cu in the southern trench and 5.8 g/t Au and 1.55% Cu in a 2nd trench 12 m to the north). The April samples assayed 33.7 g/t Au from a ~40 cm wide rock in the southern trench and 7.53 g/t Au from a sample of one of several quartz veins 8-10 cm wide in the northern trench.
- 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. A 30 cm mineralized boulder collected in 2021 and reported in March assayed 13.5 g/t Au and 4.34% 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 ~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% Cu and 8 g/t Ag). The 4 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 BC 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’ 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’ VP 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 1 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.
Map #1 – Mineral prospects on Romios’ Kinkaid Project with the maximum gold assays for each site from sampling in April 2022.
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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 1.7 g/t Au. Copper and silver results pending. One of very many such pieces at this site, some assaying up to 17.9 g/t Au.
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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.
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.
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 and 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 a former high-grade gold producer – the Scossa mine property in Nevada. 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 ‘s Hislop gold property in Ontario; and a 2% NSR on Enduro Metals Corp.’ Newmont Lake Au-Cu-Ag property 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/127686
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