Romios Gold exploring three mineral projects, Ontario
Romios Gold Resources Inc. [RG-TSXV; RMIOF-OTC; D4R-FSE] has begun the 2022 exploration field program on three of the company’s projects in the underexplored North Caribou Lake greenstone belt (NCLGB) in northwestern Ontario, Canada. This belt is home to Newmont’s giant Musselwhite gold mine (more than 7 million ounces gold in past production and reserves) but has seen relatively little exploration by other companies since the 1980s.
North Caribou River claims: Located just 8 km from the all-weather road into the nearby community of Round Lake, these claims are dominated by the North Caribou River Fault (NCRF) with a series of small but high-grade gold plus/minus copper showings on the Romios claims, for example 9.9 to 55.7 g/t gold from a 23-centimetre-wide, sulphide-rich vein, as well as locally impressive alteration.
Romios believes that previous explorers neglected the potential for the geologically common situation whereby much better mineralization occurs on a series of splay faults coming off the main fault.
A 2020 airborne very-low-frequency-magnetic survey confirmed the presence of 10 apparent splay faults and soil sampling completed over five of them in 2021 detected a well-defined gold anomaly on one and multielement anomalies on others.
The 2022 program will complete the soil sampling and mapping over the remaining targets in an effort to define the best targets for trenching and possibly drill testing.
Markop Lake project: Located immediately east of the Musselwhite mine property, this project is another new look at an area based on a major recent revision of the company’s geological understanding. The Markop Lake area is now known to host Timiskaming-age and style sedimentary-volcanic basins similar to major gold camps like Timmins-Kirkland Lake.
This is one of only three Timiskaming settings known along the northern margin of the North Caribou terrane, the other two host old gold mines (Island Lake, Stull Lake) and Yamana’s major gold-tungsten project at Monument Bay which hosts a measured and indicated resource of 2.1 million ounces of gold at 1.52 g/t gold and 248,000 tonne units of tungsten trioxide (Mega Precious Metals NI 43-101 report, November, 2014; calculated at a gold price of US$1,092/oz).
Romios’ upcoming geological mapping and prospecting work will be the first concerted effort to explore this large area adjacent to a giant gold deposit for Timiskaming-type mineralization.
Arseno Lake: These claims cover 5.6-km strike length of the same banded iron formation that hosts the unusual Arseno Lake deposit now owned by Newmont (approximately 920,000 t at 8.7% lead-zinc plus 1.5 oz/ton silver).
A cluster of untested electromagnetic conductors and volcanic massive sulphie-style alteration occurs on Romios’ claims which are within four km of a road through the community of Round Lake.
A program of basic geological mapping, lithogeochemical sampling and soil sampling is planned to evaluate the potential of this area to determine if ground geophysics and/or drilling are warranted.
Romios Gold has a 100% interest in the Lundmark-Akow Lake Au-Cu property and four 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 Nevada claims covering numerous Au-Ag-Cu workings and two former producers: the La Corne molybdenum mine property (Quebec) and a former high-grade gold producer – the Scossa mine property in Nevada. The company also retains a continuing 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% net smelter returns royalty on McEwen Mining’s Hislop gold property in Ontario; and a 2% NSR on Enduro Metals Corp.’s Newmont Lake Au-Cu-Ag property in B.C.