ROMIOS GOLD RESOURCES INCL
OTC BB: RMIOF
TSX.V: RG • Frankfurt: D4R
Contact:
Tom Drivas, President, CEO
25 Adelaide Street E, Suite 1010
Toronto, ON Canada M5C 3A1
Phone: 416-221-4124
Fax: 416-218-9772
E-Mail: romios@romios.com
Web Site: www.romios.com
Shares Outstanding: 65,703,056
52 Week Trading Range:
Canada: Hi: C$1.02 • Low: C$0.245
U.S.: Hi: $0.855 • Low: $0.27
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The most important decision facing a junior resource company is choosing where to focus its exploration efforts. Those companies situated in the vicinity of major mining camps in mining-friendly, politically safe jurisdictions clearly maximize potential returns for their investors. Romios Gold Resources Inc. (OTC BB: RMIOF; TSX.V: RG; Frankfurt: D4R) -- www.romios.com -- is doing just that.
Consider, Romios Gold’s property portfolio includes:
• A massive copper-gold land position right next door to two significant mineral deposits in British Columbia NovaGold/Teck Cominco’s Galore Creek Project and Barrick’s Eskay Creek Mine.
• A 388-hectare Nevada property located 8 miles from the Hycroft Mine (1-million oz. gold production) and 6 miles from the Rosebud Mine (500,000 oz. gold production).
• Several gold, copper and silver exploration properties in proven areas of Ontario, including near the Musselwhite gold deposits under development by Goldcorp Inc, as well as near the Timmins mining camp.
Romios Gold spent $3.5 million last summer exploring its five most advanced properties near Galore Creek: Newmont Lake, Trek, JW and Royce/Porc. So far, the company has identified a 1.4 million tonne, high grade, inferred copper, gold, silver resource on its Newmont Lake Property.
Galore Creek Area Project Could Contain
Multiple Copper-Gold-Silver Porphyry-Style Deposits
Over the past few years, Romios Gold acquired over 60,000 acres between NovaGold/Teck Cominco’s Galore Creek (measured and indicated resource of 7.27 million oz. of gold, 123.09 million oz. of silver and 8.93 billion lbs of copper) and Barrick’s Eskay Creek Mine (a 2.7 million tonne resource grading at 47 g/t gold and 2,135 g/t silver).
Although the properties were explored in the 1980s by 10 different companies, all looking for Eskay-style deposits, Romios Gold is conducting the first comprehensive evaluation of the Newmont Lake area. The company’s Galore Creek area holdings include:
- Newmont Lake three advanced-stage projects with a wide gold-copper mineralized zone open along strike, 19 additional mineralized zones and numerous unsampled and undrilled gossan zones. The property is highly prospective for the discovery of a large copper-gold deposit.
- Trek Property a one-kilometer-wide belt with numerous porphyry-style occurrences containing significant copper-gold mineralization.
- Royce/Porc Property hosting several gold-bearing, quartz-sulphide veins, and a large, virtually unexplored soil geochemical anomaly.
- JW Property 613-hectares covering two distinct types of potentially economic gold-bearing mineralization with at least six rich gold-quartz-sulphide veins, one of which was intersected in a 2007 drill hole that averaged 31.87 g/t gold over 2.4 meters.
The company’s Galore Creek Project has barely been explored, yet already has a NI 43-101 inferred resource totaling 1.4-million tonnes containing 200,000 oz. of gold grading at 4.43 g/t, 6.7-million pounds copper grading at 0.22%, and 291,000 ounces of silver grading at 6.4 g/t.
One of the highlights of the $3.5 million 2007 summer exploration program was a hole that was drilled to test a geophysical anomaly in the vicinity of the NW Zone in the Newmont Lake area. The hole intersected 7.82 g/t gold over 19.69 meters which included two higher grade zones of 27.32 g/t gold over 2.35 meters and 19.70 g/t gold over 3.04 meters. The program involved airborne and ground geophysical surveys, geological mapping, prospecting, reconnaissance soil geochemistry and diamond drilling. Nine holes totaling 1,214.6 meters in length were drilled to: test an induced polarization anomaly believed to be an extension of NW Zone mineralization; to undercut a surface exposure of significant copper-gold-silver mineralization at the B&D Zone and to test the newly discovered RNT zone where pervasive mineralization similar to that at the Galore Creek Project outcrops. Significant mineralization at the JW Property (31.87 g/t gold over 2.4 meters) was intersected in a drill hole. In addition, chip sampling led to the discovery of a new zone of copper-gold mineralization (the Chochi Zone) at Newmont Lake which extends over an area of 1.5 km. This zone appears to be a large tonnage, porphyry-style target.
“The 2007 drill and sampling results imply that the NW zone has the potential to be much larger than originally thought,” says Drivas. “We are planning an aggressive drilling program this summer. We expect further drilling and exploration will assist us in evaluating the potential of the property and in particular, the NW Zone.”
Major Exploration Properties Near Major Mining Camps in Nevada and Ontario
The 960-hectare Scossa Gold Property in Nevada’s Pershing County hosts a 1930s-era high-grade underground gold mine not far from the producing Rosebud and Hycroft Mines. Until the property was acquired by Romios Gold, it had never been subjected to modern exploration. Drill programs testing known gold-bearing, epithermal quartz breccia veins returned evidence of gold in virtually every drill hole including a number of exceptionally high grade intersections grading up to 10.63 oz/t gold over 6.0 feet.
The company is seeking to prove up a significant gold resource that could be mined and transported to a nearby, existing mill expected to be operational in the near future.
“Scossa has the potential to be a quick payback for Romios,” says Drivas.
Romios Gold also owns several projects in mineral-rich Ontario. Exploration and drilling at its Lundmark-Akow Lake copper-gold project is planned to begin once a long-term agreement is concluded with the North Caribou First Nations Community. The property is underlain by formations similar to those hosting the Musselwhite gold deposits (3 million ounces). Romios has identified widespread gold mineralization and believes an extensive zone of stringer-type copper mineralization reflects a massive sulphide occurrence at depth.
The 65-hectare Timmins Hislop gold property is located at the southwestern edge of the prolific Destor-Porcupine Fault which hosts a number of significant gold occurrences and deposits.
Knowledgeable Management Team
Romios Gold’s management team is highly experienced with broad knowledge and expertise encompassing all facets of the mineral resource industry:
- President Tom Drivas has over 30 years experience in property acquisition, development and brokering. He is also president of Appia Energy Corp., a private uranium exploration company operating in the Elliot Lake and Sudbury areas of Ontario.
- VP of Exploration Thomas Skimming is a professional geologist with over 40 years in the mineral resources industry and who has been instrumental in the discovery of a number of gold and base metal deposits.
- Director Garth Kirkham is principal of Kirkham Geosystems which specializes in 3D computer modeling and resource estimations for scoping, pre-feasibility and feasibility studies and is the Chairman of two professional scientific organizations.
- Director Antonio de Quadros received a Ph.D. in geology in 1972. Since then he has worked as a geologist throughout North and South America on numerous and varied exploration assignments.
- Director and Legal Counsel, William Johnstone LL.B., is a partner of Gardiner Roberts LLP in Toronto, Ontario. Mr. Johnstone was called to the bar in Ontario in 1984 and practices predominantly in the areas of Corporate/Commercial and Securities Law.
- Chief Financial Officer, Doug Bolton obtained his CA designation in 1976 and works primarily on the audits of public companies in the junior resource sector. He is a partner in the firm of Bolton & Bolton, Chartered Accountants.
- Director Frank van de Water is the Chairman of the Audit Committee and has had a 40 year career in financial roles with a variety of organizations including multinational mining, metal processing and metal trading companies.
Investment Considerations
Romios Gold is focused on developing precious and base metals projects in proven mining camps located in safe political and regulatory jurisdictions. By focusing its exploration efforts on major projects in proven mining camps in British Columbia, Ontario and Nevada, Romios Gold is effectively hedging its bet that it will find significant mineralization.
The company has approximately $6 million dollars in the bank. The proceeds will be used primarily for exploration on the Company’s Canadian properties.
Romios Gold has received positive reviews from industry watchers. According to Jay Taylor, a noted gold analyst, “Romios’ Newmont Lake could well host one of the next big world-class gold discoveries.” Taylor concludes that “now is an excellent time to buy Romios Gold.”
The information contained herein is provided solely for the reader’s general knowledge. The information is not intended to be a comprehensive review of all matters and developments concerning Romios Gold Resources Inc. All information is offered on a “best intentions” basis. No securities commission or other regulatory authority in Canada or any other country or jurisdiction has in any way passed upon this information and no representation or warranty is made by Romios Gold Resources Inc. to that effect.
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