Welcome!

News Feed Item

Romios Obtains Exploration Permit and Enters Into a Letter of Intent with North Caribou Lake First Nation

TORONTO, ONTARIO -- (Marketwired) -- 02/19/14 -- Romios Gold Resources Inc. ("Romios") (TSX VENTURE:RG)(PINKSHEETS:RMIOF)(FRANKFURT:D4R) is pleased to announce that an exploration permit (PR-13-10449) has been issued to Romios by the Mineral Development and Lands Branch of the Ministry of Northern Development and Mines. In conjunction with the issuance of the exploration permit, Romios signed a binding Letter of Intent ("LOI") with the North Caribou Lake First Nation ("NCLFN"), which is broadly defined as the Community of Weagamow Lake, Chief and Council, Trappers and the Traditional Territory.

The exploration permit (the "Permit") is subject to the requirements of the Mining Act of Ontario and all applicable Provincial Standards for early exploration and is effective for a period of three (3) years with options to renew. The Permit is specific to Romios' claims in the vicinity of Akow Lake in the North Caribou Lake area, which has been the subject of ongoing discussions with the NCLFN for some time.

Romios looks forward to developing the positive relationship with the NCLFN in accordance with the LOI, which recognizes the need for both parties to benefit and coexist through a process of mutual respect, ongoing dialogue and regular interaction in order to realize the objectives of both Romios and the NCLFN. Based on the LOI, both parties will work towards completing a Memorandum of Understanding, which will govern the relationship of both parties during the early exploration phase on the Lundmark-Akow Lake property.

The exploration permit and the LOI will allow Romios to resume exploration on its Lundmark-Akow Lake property, located within the North Caribou Lake greenstone belt in the Patricia Mining Division in northwestern Ontario. Earlier exploration carried out by Romios identified indications of widespread gold mineralization associated with banded iron formations ("BIFs") analogous to those hosting the Musselwhite gold deposits approximately 18 km to the southeast and with a highly siliceous deformation zone adjacent to the BIFs. In addition, an extensive zone of stringer-type copper mineralization, believed to reflect a more massive copper sulphide occurrence at depth, was discovered by Romios.

Five holes were drilled to test the copper zone during the winter of 1998-1999 by Romios. All five drill holes (holes RGRI-99-1 to RGRI-99-5) intersected wide zones of potentially significant copper and gold mineralization over a strike length of more than 1,000 metres (3,280 feet). Geophysical evidence suggests that the zone is much more extensive than that tested by the diamond drilling. Rather than assay the entire width of the stringer-type copper mineralization in each hole, a number of samples were collected throughout the zone to determine roughly the tenor of the copper and gold contained within the mineralized zone.

One of the more notable holes (hole RGRI-99-3) intersected 94.0 metres (308 feet) of the stringer-type copper mineralization. A total of 25 samples collected over 12.21 metres (40.05 feet) within the mineralized zone assayed a weighted average of 0.39% copper. Highly anomalous gold values were encountered over 96.32 metres (316.0 feet) within this zone. A total of 22 samples over 11.30 metres (37.07 feet) averaged 0.36 gpt in gold. Similar copper and gold grades over comparable widths were encountered in the other 4 holes. (Press Release dated March 31, 1999).

In the most southerly exposed portion of the gold-bearing deformation zone, 14 grab and channel samples collected from an outcrop area assayed from a low of 12.26 gpt (0.358 oz/ton) to a high of 1,323.81 gpt (38.612 oz/ton) of gold. The arithmetic average of the 14 samples was 402.85 gpt (11.75 oz/ton) of gold. (Press Release dated November 24, 1997).

Prior to further diamond drilling on the property, Romios plans to conduct an airborne deep penetrating, geophysical survey in the vicinity of the known copper mineralization in order to determine locations for a number of drill holes to evaluate the significance of the stringer-type copper mineralization encountered in earlier drill programs.

The Management of Romios would like to express its sincere appreciation and gratitude to the Ministry of Northern Development and Mines for its understanding and patience in granting exclusions of time for assessment work requirements during the discussions with the North Caribou Lake First Nation.

This press release was approved by Thomas Skimming, P.Eng, Vice-President of Exploration and a Director of Romios and a Qualified Person as defined by National Instrument 43-101.

About Romios Gold Resources Inc.

Romios is a progressive Canadian mineral exploration company established in 1995 and is actively engaged in precious and base metal exploration in North America with a primary focus on gold, silver and copper. Romios has significant property interests in British Columbia, Ontario, Quebec and Nevada. The Company and is currently exploring its Golden Triangle area properties in British Columbia which are centrally located between Galore Creek Mining Corporation's large copper-gold-silver deposit and Barrick's high grade gold mine at Eskay Creek.

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.

Contacts:
Romios Gold Resources Inc.
Tom Drivas
President and Director
416-221-4124
416-218-9772 (FAX)
[email protected]

Romios Gold Resources Inc.
Thomas Skimming, P.Eng.
Vice-President and Director
(416)-444-0900
[email protected]

Romios Gold Resources Inc.
Frank van de Water
Chief Operating Officer and Director
(416) 221-4124
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
SYS-CON Events announced today that Adobe has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of co...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...