Romios Gold Reports Encouraging Results from Work on Three Projects in NW Ontario

Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to report on the results of its summer field work undertaken on three of the Company's exploration projects in the North Caribou Lake greenstone belt (NCLGB) in NW Ontario (see Map 1). One week was spent exploring each of these claim blocks, with encouraging soil sampling results returned from the North Caribou River Gold Project (Map 2) and promising geological targets uncovered at Arseno Lake and Markop Lake.

Stephen Burega, President and CEO, stated, "The North Caribou belt is home to Newmont's world class Musselwhite gold mine and Romios is the only company actively exploring a pipeline of grass-roots to advanced projects in this greenstone belt." He continued, "Moving this significant group of assets forward continues to be a priority for the Company, and we are exploring various conversations to bring forward a strong funding partner to build on our successful results."

NORTH CARIBOU RIVER (NCR) PROJECT:

The NCR claims cover 7 km of a major regional fault that contains local Au-Cu mineralization +/- strong alteration and sulphidation.

Romios' work has identified a series of 10 apparent splay faults coming off this major structure that have not been previously identified or tested. Secondary faults such as these are often much more mineralized than the major regional faults in many gold camps. Soil samples collected over 5 of the apparent splay faults in 2021 detected a persistent gold anomaly over one splay and scattered anomalies over 2 others. Follow-up soil sampling was completed over 2 splays in 2022 with positive results.

Highlights:

The 2022 NCR soil samples infilled and extended gold anomalies over a fault sampled in 2021 and detected prominent gold anomalies on a new target (VLF #2 and #1 respectively, Map 2).
The three northernmost VLF/fault targets are also anomalous in metals associated with lode gold deposits (copper, antimony), elements such as chlorine that may reflect fault structures, and elements such as lanthanum thought to be indicative of sulphide mineralization. The soil anomalies are typically concentrated on the south side of the VLF trend, likely due to glacial dispersion.
Multi-element anomalies have now been detected over 200 to 500m strike lengths on VLF trends #1 to #3 (Map #2) with sporadic anomalies on 3 additional targets. Future work on this project is expected to include soil sampling over the remaining targets, ground VLF surveys to delineate the precise centre of the faults, and possible trenching in an effort to define drill targets.

Map 1: Romios' projects in the North Caribou Lake Greenstone Belt, NW Ontario

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5376/141844_2cbe224464417a02_002full.jpg

Map 2: Soil anomalies over 3 northern VLF trends, North Caribou River Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5376/141844_2cbe224464417a02_003full.jpg

ARSENO LAKE PROJECT:

Located just 4 km from a road in the community of Weagamow Lake, these claims cover the extension of several EM conductors and a linear magnetic high westward from the Arseno Lake iron formation hosted Pb-Zn-Ag deposit owned by Newmont. Romios' first geological mapping and outcrop sampling on these claims was completed in June 2022, and focussed on a historically neglected area of schists suspected of being part of a VMS-type alteration path.

Highlights:

Several unusual outcrops of kyanite and andalusite schists were located along the EM-MAG target trend. These rocks are very atypical for greenstone belts in the Canadian shield and may be the result of a hydrothermal alteration system related to the formation of the Arseno Lake deposit.
Future work on this project will attempt to follow the schists eastward and evaluate several clusters of untested EM conductors between these outcrops and the Arseno Lake deposit.

MARKOP LAKE PROJECT:

This grass-roots project is located immediately east of the Musselwhite gold mine (>7 M Oz Au) owned by Newmont. The large claim block covers a highly underexplored Timiskaming-age and style volcano-sedimentary basin(s) adjacent to a major crustal break, the type of setting that hosts many of the great gold deposits in the Abitibi belt (Timmins, Kirkland Lake, etc.), Red Lake, Pickle Lake, etc. One week was spent in June exploring a small part of this large block, Romios' first work on these claims.

Highlights:

Geological mapping confirmed the presence of a belt of coarse conglomerates and sedimentary breccias believed to have formed along the basin-bounding faults. Several outcrops of sheared alkalic volcanics were located within the sedimentary sequence, another rock type typical of Timiskaming basins.
The favourable basin-bounding faults are now believed to extend for 14 km on the Romios claims of which only ~2 km has been prospected and mapped to date. Future programs will continue to map and prospect the remainder of these prospective faults.

LUNDMARK-AKOW LAKE PROJECT:

This is Romios' main project in the NCLGB and adjoins the Musselwhite mine property to the north. In recent years Romios has discovered an extensive VMS system here with several massive sulphide horizons and two types of gold-bearing veins - a series of unusual "epithermal-looking" calcite veins with sporadic gold mineralization, and an impressive quartz-pyrrhotite vein which returned the best gold intercept known in the belt outside of the Musselwhite property: 4.75 m @ 8.64 g/t Au.

Drilling has also intersected broad zones 16 to 33 m wide of Cu-Au stockwork veinlets sub-cropping over a >125 m strike length that have returned encouraging assays (e.g. 2.6 g/t Au and 0.39% Cu over 16.9 m drilled width). Romios is currently sponsoring an MSc research project on the geology of the VMS system at Lakehead University. This work is expected to provide vectors towards the most favourable portions of the >11 km long VMS system prior to work resuming on this project. The drill used in the 2021 program has been left on the claims for a potential follow-up program in 2023.

BACKGROUND INFORMATION ON THE ONTARIO PROJECTS: More detailed descriptions of these projects including maps and figures are presented on the Company website: Click Here

QA/QC

All soil and rock samples were submitted to the ISO 17025 accredited Actlabs laboratory in Thunder Bay, Ontario for assays and multi-element analyses. As a matter of procedure, a rigorous quality assurance and quality control program was implemented to ensure reliable assay results by inserting alternating blanks and commercial Certified Reference Material (CRM) standards at every 10th position in the rock sample series as well as several CRMs in the humus sample series. Humus samples were analysed by a combination of neutron activation (INAA), generally considered the most accurate of the analytical techniques, and ICP-OES for those few elements which INAA is not suitable for (e.g. copper). Sandy soil samples were analysed by the enzyme leach method.

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 claims in Nevada covering numerous Au-Ag-Cu workings and two former producers: the Scossa mine property (Nevada) which is a former high-grade gold producer and the La Corne molybdenum mine property (Quebec). 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' 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 Property in BC.

For more information, visit www.romios.com

As our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online (Twitter, Facebook, LinkedIn) please feel free to send direct messages.

To book a one-on-one 30-minute Zoom video call, please click here.

For further information, please contact:

Stephen Burega, President and CEO - 647-515-3734 or sburega@romios.com

John Biczok, P. Geo., VP of Exploration - 613-410-7877 or jbiczok@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.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141844

News Provided by Newsfile via QuoteMedia

Romios Gold Resources TSXV:RG Base Metals Investing

RG:CA

Romios Announces $150,000 Non-brokered Offering

Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to announce that it is proceeding with a non-brokered private placement of up to 15 million shares (the "Shares") priced at $0.01 per Share for up to $150,000 (the "Offering").

Funds will be used for exploration and working capital. All securities issued under the Offering are subject to a four month and one day hold period. The transaction is subject to TSX Venture Exchange approval. No funds from the sale of the Shares will be used for payments to non-arm's length parties or for investor relations activities. The funds from the sale of the Shares will be allocated as to $50,000 to maintain the Company's property in Nevada and the balance for general working capital.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Romios Begins Field Work to Follow-Up New Satellite Image Study by Photosat Outlining Significant Alteration Zones at the Kinkaid Copper-Gold-Silver Property, Nevada, USA

Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to report that Photosat has recently completed an in-depth, advanced re-interpretation of the previously reported Short Wave Infrared (SWIR) satellite image study that outlined the specific alteration minerals associated with mineralization on Romios' Kinkaid property in Mineral County, Nevada.

This new work used proprietary Deep Learning Technology to differentiate the types of sericite associated with the known mineralized structures and then outlined the same signature on several major, previously unrecognized, linear alteration zones potentially associated with additional mineralized vein systems.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Romios Announces Closing of $307,252 Non-Brokered Offering

Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios" or the "Company") is pleased to announce that, further to its Press Release of September 18, 2023, it has closed its non-brokered private placement with the sale of 4,266,699 flow-through units (the "FT Units") and 5,975,033 working capital units (the "WC Units") for gross proceeds of $307,251.96 (the "Offering").

Each FT Unit is priced at $0.03 and consists of one (1) common share and one-half (0.5) share purchase warrant (a "FT Warrant"). Each full FT Warrant entitles the holder to purchase one (1) common share (a "FT Warrant Share") at a price of $0.05 per FT Warrant Share until October 27, 2025.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Quetzal Copper Receives Drill Permit for Princeton Copper Project, British Columbia

Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") is pleased to provide an update that it received a permit that allows drilling to commence at the Company's Princeton Copper Project in British Columbia, Canada. The 11,500-hectare property sits between the Hudbay Minerals and Mitsubishi owned Copper Mountain Mine and the town of Princeton.

CEO Matt Badiali said, "Princeton is the project that originally convinced us to create Quetzal Copper. It checks all the boxes for a potential home run project: next to an operating mine, high-grades in historic samples, and drive-up/drive-home targets. Despite being next to a world-class mine, the key targets remain undrilled and present an exciting opportunity for Quetzal shareholders. Historically, the targets were spread over a series of mining claims, worked independently. We are thrilled to have all the claims united now and are moving rapidly to commence drilling a soon as we can."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Drilling Has Started at Prismo Metals' Palos Verdes Project

Prismo Metals Inc. (CSE:PRIZ)(OTCQB:PMOMF)(FSE:7KU) ("Prismo" or the "Company") is pleased to announce that drilling at its Palos Verdes project in Mexico has started. Hole PV-24-34 of this collaborative drilling program with Vizsla Silver Corp's (TSXV:VZLA) ("Vizsla") was collared on Vizsla's property. The planned length of the first hole is 250 meters out of a total expected 1,250 meters in the first phase of the program now underway

Dr. Craig Gibson, Co-Founder and Chief Exploration Officer of the Company explained: "The goal of the first phase of drilling is designed to explore the vein system to the west of the fault below the zone of bonanza grade intercepts from the previous campaigns. We expect the first hole to cut both the Palos Verdes vein as well as the higher gold-silver vein about 50 meters downdip from the previous intersections. Assays reported from last year's drilling include hole PV-23-25 with 102 g/t gold, 3,100 g/t silver and 0.26% zinc over 0.5 meters, or 11,520 g/t silver equivalent - the highest-grade intercept recorded at the project to date (see News Release of July 27, 2023)."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

FPX Nickel Announces Management Appointments to Support the Advancement of the Baptiste Nickel Project

FPX Nickel Corp. (TSX-V: FPX, OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the appointments of Nigel Fisher as Director, Environment and Jarett Lalonde as Director, Government & Public Affairs for the Company. Mr. Fisher will lead the advancement of environmental and regulatory programs for FPX projects, while Mr. Lalonde will lead the Company's public communications and government relations strategies.

"We are excited to grow our team with Nigel and Jarett," commented Tim Bekhuys , FPX's Senior Vice-President, Sustainability & External Relations. "Mr. Lalonde has a proven track record as a trusted government relations advisor to corporations, governments and nonprofits, and brings a wealth of knowledge and strategic insight to our team. Mr. Fisher has been instrumental in permitting and advancing many of British Columbia's largest mines, including most recently, the Blackwater and Eskay Creek mines, and will lead our Environmental Permitting and Assessment for the Baptiste Project."

Mr. Fisher brings 20 years' experience leading environmental assessments, permitting and management systems, developing and executing on regulatory strategy and advancing governance and funding agreements with Indigenous governments across British Columbia . Mr. Fisher has held progressively senior roles with New Gold, Teck Resources, Woodfibre LNG, and most recently, Skeena Resources as Director of Environment and Regulatory Affairs. In his prior roles, he successfully obtained multiple regulatory approvals for large-scale resource projects while maintaining compliance with existing and changing legislation.

Mr. Lalonde is a highly regarded public affairs leader with over 20 years' experience in the natural resources, technology, and regulated products sectors. In his most recent role as Global Head of Product Policy at Shopify, Mr. Lalonde was instrumental in crafting compelling public affairs narratives for the company's diverse product offerings and spearheading engagement with policy makers across North America and Europe. Before joining Shopify, he worked with Global Public Affairs, a leading government relations and strategic communications firm, where he performed advisory work for numerous companies advancing large-scale natural resource projects in British Columbia and across Canada. Mr Lalonde previously served as Chief of Staff to the Attorney General & Minister of Justice for the province of British Columbia , and as Policy Advisor to the Minister of Natural Resources Canada.

Stock Option Grant

FPX has granted 775,000 stock options to certain employees of the Company. The stock options are exercisable at a price of $0.35 per share for a five-year period commencing on September 23, 2024 .

Market Making Services

Further to its news release on August 1, 2024 , the Company has engaged the services of Insight Capital Partners Inc. (" Insight ") and its market making service provider, ICP Securities Inc. (" ICP ") (the " Engagements ") effective August 1, 2024 .

Pursuant to an agreement (the " Consulting Agreement ") between the Company and Insight, Insight will provide capital markets consulting services, including providing the Company with advice and information regarding trading activity, for a term of twenty-four (24) months, provided that after a period of four (4) months either party may terminate the Consulting Agreement on thirty (30) days notice.

In addition, pursuant to an agreement (the " Market Making Agreement ") between the Company and ICP, the Company has engaged ICP to provide market making services. As previously announced, ICP will provide automated market making services, including use of its proprietary algorithm, ICP Premium ^TM , in compliance with the policies and guidelines of the TSX Venture Exchange and applicable securities laws. The Market Making Agreement is for an initial term of four (4) months (the " Initial Term ") and shall be automatically renewed for subsequent one (1) month terms (each subsequent one-month term called an " Additional Term ") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable.

As previously disclosed, there are no performance factors contained in the Consulting Agreement and no stock options or other compensation are being granted in connection with the Engagements. Both Insight and ICP are at arm's length to the Company. Insight and ICP do not have any interest, directly or indirectly, in FPX Nickel or its securities or any right or intent to acquire such an interest at this time; however, Insight, ICP and its clients may acquire an interest in the securities of the Company in the future.

ICP's market-making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.

About the Baptiste Nickel Project

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni ₃ Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 408 km ² , west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste deposit is located within the territories, keyohs, and consultative boundaries of the Tl'azt'en Nation, Binche Whut'enne, Yekooche First Nation, and Takla Nation .

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same distinctive style of nickel-iron mineralization. For more information, please view the Company's website at www.fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking ‎information" within the meaning of applicable Canadian securities laws. These statements address ‎future events and conditions and so involve inherent risks and uncertainties, as disclosed in the ‎Company's periodic filings with Canadian securities regulators. Actual results could differ materially ‎from those currently projected by management at the time of writing due to many factors the majority ‎of which are beyond the control of FPX and its management. In particular, this news release contains ‎forward-looking statements pertaining, directly or indirectly, to the following: the duration of the ‎Consulting Agreement and the Market Making Agreement, and the services provided thereunder. These statements speak only ‎as of the date of this release or as of the date specified in the documents accompanying this release, as ‎the case may be. The Company does not assumes the obligation to update any forward-looking ‎statement except as expressly required by applicable securities law.‎

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the ‎adequacy or accuracy of this release.‎

SOURCE FPX Nickel Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2024/23/c9666.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

SAMPLE #	Cu %	Au g/t	Ag g/t	U ppm	V ppm
K409245	0.77%	0.25	2.0	7.5	69
K409246	0.73%	0.08	3.9	3.7	30
K409248	1.35%	0.08	3.3	25.2	107
K409249	2.55%	2.36	2.3	113.5	207
K409251	1.48%	12.70	1.9	55.3	371
K409252	13.00%	0.47	0.4	17.7	277
K409253	6.52%	2.49	1.6	402.0	685
K409254	13.30%	0.28	0.4	12.5	257
K409255	5.69%	1.51	17.9	134.5	141

Romios Gold Reports Encouraging Results from Work on Three Projects in NW Ontario

Latest News

Latest Press Releases

Related News

TOP STOCKS