Anyone follow RG.V?
"ROMIOS GOLD RESOURCES INC." has a large land position right in the vicinity of Novagold and the company has hit a lot of mineralization in the 10 years or so that they have been exploring in that region-
It appears that Novagold will need to cross some of their land to build a mill also-
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Here is the latest press release from Romios-
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Romios to start $1.4-million B.C. exploration in June
2012-05-29 08:12 ET - News Release
Mr. Tom Drivas reports
ROMIOS ANNOUNCES $1.4 MILLION EXPLORATION PROGRAM FOR 2012 IN THE GOLDEN TRIANGLE AREA, NORTHWESTERN BRITISH COLUMBIA
Romios Gold Resources Inc. will undertake an exploration program beginning in June on its Newmont Lake project, located in northwestern British Columbia. The program, estimated to cost $1.4-million, will consist of diamond drilling on the Northwest, Ken, '72 and Telena zones, with additional ground magnetic and magnetotelluric geophysical surveys planned for both the Newmont Lake and Trek projects. In addition, continued prospecting and geochemical sampling will be carried out to test for extensions of existing mineralization and identification of new high-grade gold and copper mineralization on both the Newmont Lake and Trek projects.
Newmont Lake project -- copper-gold-silver porphyry,gold-copper skarn.
The combined Newmont Lake project comprises the Newmont Lake, Dirk and Andrei properties, totalling approximately 53,889 hectares (133,162 acres). The project hosts multiple porphyry-style mineral showings. Drill testing since 2007 on a number of these showings confirmed massive sulphide, porphyry and porphyry-related skarn mineralization. The planned exploration program will concentrate on advancing the '72 and Telena zones, which were first drilled during the summer of 2011 (see press release dated Oct. 19, 2011), and the adjacent higher-grade, massive-sulphide-bearing Ken and Northwest zones. Results encountered to date include a drill hole intersection of 753 grams per tonne gold, 463 g/t silver and 0.69 per cent copper over 0.44 metre. This intercept is contained within a wider 14.01-metre (45.95 feet) mineralized interval that assayed 26.44 g/t (0.77 ounce) gold, 21.36 g/t (0.62 ounce) silver and 0.21 per cent copper (see press release dated Sept. 22, 2008). This mineralization style could be similar to the Valley of the Kings at the Brucejack deposit, 40 kilometres to the southeast. An existing National Instrument 43-101 inferred resource at the project's Northwest zone includes 1,406,000 tonnes at a grade of 4.43 g/t gold, 0.22 per cent copper and 6.4 g/t silver, or a gold equivalent grade of 5.16 g/t. This equates to in situ contained metal of 200,000 ounces of gold, 6.79 million pounds of copper and 291,000 ounces of silver. These resources are reported at a base-case gold equivalent cut-off grade of two g/t. (Mineral resources have not demonstrated economic viability and therefore are not mineral reserves. See the press release dated March 26, 2007.)
District infrastructure developments include a planned hydropower facility, road and communications located approximately 15 kilometres south of the Romios's McLymont camp (see press release dated April 3, 2012), making the Newmont Lake project one of the most accessible in the Golden Triangle.
The B.C. Ministry of Forests, Mines and Lands postulated that the Newmont Lake project and the VMS (volcanogenic massive sulphide) belt discoveries, of which Romios is the primary tenure holder, are "unprecedented opportunities to expand the 'Golden Triangle' to the north, from the Eskay Creek, Snip, and Rock and Roll deposits toward the large copper-gold-silver porphyries in the neighbouring Galore Creek area," which includes Romios's Trek property and the NovaGold/Teck Resources Galore Creek and Copper Canyon properties (see press release dated March 3, 2011). The Golden Triangle extends to the south to include both Seabridge's KSM deposits and Pretium Resources' Brucejack and Snowfield deposits.
Trek property -- gold-copper-silver porphyry.
The Trek property, 100 per cent owned by Romios, consists of five land tenures that cover 2,693 hectares (6,655 acres) in the Galore Creek area, and adjoins GCMC's (NovaGold and Teck Resources) Galore Creek project, which contains a large, undeveloped, porphyry-related copper-gold-silver deposit. Romios has been conducting exploration on the Trek property since 2006 and actively drilling since 2008. Drilling in 2011 at the Trek property's North zone identified two additional copper- and gold-rich horizons (see press releases dated Sept. 26 and Dec. 14, 2011), as well as structures responsible for controlling the mineralizing fluids for over five kilometres of strike length.
The company's 2012 exploration plans on the Trek property include updating the existing National Instrument 43-101 technical report and the implementation of both surface and downhole geophysics to identify potential extensions of the copper- and gold-rich horizons at the North zone and other sites on the property, in preparation for the next phase of drilling and advancing this B.C.-style porphyry property.
The technical information contained in this press release has been reviewed by Thomas Skimming, PEng, vice-president, exploration, a director of Romios and a qualified person as defined by National Instrument 43-101.
We seek Safe Harbor.
