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
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
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...
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
“Being the one true cloud-agnostic and storage-agnostic software solution, more and more customers are coming to Commvault and saying ' What do you recommend? What's your best practice for implementing cloud?” explained Randy De Meno, Chief Technologist at Commvault, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
“delaPlex Software provides software outsourcing services. We have a hybrid model where we have onshore developers and project managers that we can place anywhere in the U.S. or in Europe,” explained Manish Sachdeva, CEO at delaPlex Software, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...