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Romios Acquires Large Claim Block Over Timiskaming-Type Gold Target at the Markop Lake Project Adjacent to Newmont's Musselwhite Mine, NW Ontario
Toronto, Ontario--(Newsfile Corp. - February 8, 2022) - Romios Gold Resources Inc.  (TS...
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[{"type":"text","content":"Romios Acquires Large Claim Block Over Timiskaming-Type Gold Target at the Markop Lake Project Adjacent to Newmont's Musselwhite Mine, NW OntarioToronto, Ontario--(Newsfile Corp. - February 8, 2022) - Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) (\"Romios Gold\" or the \"Company\") is pleased to announce that is has acquired 140 single cell mining claims covering 2,753 hectares immediately along strike from Newmont's giant Musselwhite gold mine in NW Ontario (See Map 1).The claims were acquired from Bounty Gold Corp. in return for a 2% NSR on those claims. Together with Romios' existing claims, the Markop Lake project now covers 5,920 Ha (14,628 acres) with potential for both Musselwhite-type gold mineralization as well as gold related to recently discovered Timiskaming-type geology similar to the Timmins camp. HIGHLIGHTS:The combined claim block now covers 14 km of an apparent basin-bounding set of faults analogous to the Timiskaming-age basins that control much of the gold mineralization in the Timmins, Kirkland Lake-Larder Lake and numerous other major gold camps.The new claims include the historic Karl Zeemel Zone 3 (KZ-3) situated along the main Timiskaming-type fault. This prospect returned assays of 23.9 g/t Au over 0.33 m and a grab sample of 4.1 g/t Au in 1988. Very little exploration work has been done in this area but a major forest fire in 2011 has revealed numerous outcrops that have improved our geological understanding of the area and researchers have now discovered Timiskaming-age (~2690 million years) sedimentary and volcanic rocks along this belt. These rocks are the same age as the mineralizing event at the Musselwhite mine. The terms of the sale include a two percent (2.0%) net smelter returns royalty (NSR) in respect of the newly acquired claims, subject to the right of Romios to buy-back a 1.0% NSR for CDN $0.5 million.\"Amalgamating the Bounty Gold claims with Romios' exisiting claim block gives us more than a 14 km strike length of a Timiskaming-type basin target just 10 km from the world-class gold deposit at Musselwhite,\" stated John Biczok, P.Geo., VP of Exploration for Romios. \"Being able to trace the geology across the combined claims will be important in honing in on the most promising sections of these fault structures,\" he concluded.\"It is very uncommon for gr...