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
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
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...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.