Click here to close now.

SYS-CON MEDIA Authors: Elizabeth White, Liz McMillan, Carmen Gonzalez, AppDynamics Blog, Roger Strukhoff

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
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of present...
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impac...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. 8th International Big Data Expo, co-located with 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. As advanced data storage, access and analytics technologies aimed at handling high-volume and/or fast moving data all move center stage, aided by the cloud computing bo...
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Every day we read jaw-dropping stats on the explosion of data. We allocate significant resources to harness and better understand it. We build businesses around it. But we’ve only just begun. For big payoffs in Big Data, CIOs are turning to cognitive computing. Cognitive computing’s ability to securely extract insights, understand natural language, and get smarter each time it’s used is the next, logical step for Big Data.
There's no doubt that the Internet of Things is driving the next wave of innovation. Google has spent billions over the past few months vacuuming up companies that specialize in smart appliances and machine learning. Already, Philips light bulbs, Audi automobiles, and Samsung washers and dryers can communicate with and be controlled from mobile devices. To take advantage of the opportunities the Internet of Things brings to your business, you'll want to start preparing now.
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th 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 developmen...
In a world of ever-accelerating business cycles and fast-changing client expectations, the cloud increasingly serves as a growth engine and a path to new business models. Dynamic clouds enable businesses to continuously reinvent themselves, adapting their business processes, their service and software delivery and their operations to achieve speed-to-market and quick response to customer feedback. As the cloud evolves, the industry has multiple competing cloud technologies, offering on-premises ...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, 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...
Over the years, a variety of methodologies have emerged in order to overcome the challenges related to project constraints. The successful use of each methodology seems highly context-dependent. However, communication seems to be the common denominator of the many challenges that project management methodologies intend to resolve. In this respect, Information and Communication Technologies (ICTs) can be viewed as powerful tools for managing projects. Few research papers have focused on the way...
As the world moves from DevOps to NoOps, application deployment to the cloud ought to become a lot simpler. However, applications have been architected with a much tighter coupling than it needs to be which makes deployment in different environments and migration between them harder. 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 CloudFoundry – a complete developer-oriented Platform as a Service (PaaS...
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
Hybrid IT is an approach to delivering IT services that matches business requirements and application needs with different IT deployment modalities. In their session at 16th Cloud Expo, Jeff Katzen, Director of the Cloud Practice at CenturyLink, and Gary Sloper, Area Vice President, Sales Engineering and Operations, at CenturyLink, will go into more depth around those different modalities and how customers have made decisions to choose between them. They will talk to some of the challenges t...
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...