Romios Begins Field Work to Follow-Up New Satellite Image Study by Photosat Outlining Significant Alteration Zones at the Kinkaid Copper-Gold-Silver Property, Nevada, USA

Rhea-AI Summary

Romios Gold Resources (OTCQB: RMIOF) has commenced fieldwork at its Kinkaid Copper-Gold-Silver Property in Nevada following a comprehensive satellite image study by Photosat. The study leveraged Deep Learning Technology to identify significant alteration zones, revealing new, previously unrecognized targets. The Kinkaid property, comprising 131 claims over 11 sq km, is in a geologically rich area. Fieldwork begins June 14, with initial findings showing high-grade mineralization, including copper values up to 13.3% and gold assays up to 12.7 g/t from sampled boulders.

Positive

• Identification of significant alteration zones using advanced Deep Learning Technology.
• Detection of new targets similar to historically high-grade Au-Cu-Ag vein deposits.
• High-grade copper values from sampled boulders ranging from 0.73% to 13.3%, averaging 5.03% Cu.
• Gold assays from sampled boulders reaching up to 12.7 g/t Au.
• A broad, circular sericite alteration zone over 1 km wide indicating potential buried porphyry copper systems.
• Commencement of fieldwork to investigate new targets, emphasizing continuous exploration efforts.

Negative

• No immediate production plans or timelines provided, indicating potential delays before commercial extraction.
• The discovery of alteration zones and new targets does not guarantee economically viable deposits.
• Historical data shows the presence of mineralization, but current economic feasibility remains unproven.
• Potential high exploration costs associated with fieldwork and further validation of targets.

Toronto, Ontario--(Newsfile Corp. - June 13, 2024) - Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to report that Photosat has recently completed an in-depth, advanced re-interpretation of the previously reported Short Wave Infrared (SWIR) satellite image study that outlined the specific alteration minerals associated with mineralization on Romios' Kinkaid property in Mineral County, Nevada.

This new work used proprietary Deep Learning Technology to differentiate the types of sericite associated with the known mineralized structures and then outlined the same signature on several major, previously unrecognized, linear alteration zones potentially associated with additional mineralized vein systems.

John Biczok, VP Exploration, stated: "This advanced processing of the satellite imagery over Kinkaid by Photosat has provided some significant new targets in terms of both size and their similarity to the alteration minerals along the high-grade Au-Cu-Ag vein deposits mined in this area historically. At least one broad, circular zone of persistent sericite alteration >1 km wide was also identified, along with several clusters of spot anomalies; these zones generally overlie high-grade Cu-Au+/-Ag vein deposits (see Photo 1) and may outline the upper portions of buried porphyry copper systems."

HIGHLIGHTS

• The same sericite alteration signature detected along the known, 400-500 m long Au-Cu-Ag vein deposits has now been detected in 2 nearby, parallel zones, also 4-500 m long. One of the known deposits has 3.2 km of historic, underground mine workings.
• The favourable sericite signature has also been outlined in a >1 km wide, persistent circular pattern over the new KIN target discovered in 2023. At this site, nine mineralized boulders sampled along a 300-metre-long stretch of a dry stream bed returned copper values from 0.73% to 13.3% Cu, averaging 5.03% Cu (see Romios press release October 12, 2023). One boulder of magnetite, a common component of veins in many porphyry copper and skarn systems, assayed 12.7 g/t Au. The mineralized samples were located near numerous large boulders with strong epidote alteration very similar to porphyry copper and/or skarn alteration zones.
• A team of Romios' senior personnel will be following up on these new targets beginning June 14^th.

Stephen Burega, President and CEO stated: "We have been working on the assumption that these high-grade veins are part of the upper portion of a buried porphyry copper system(s) and this new revelation of a >1 km wide sericitic alteration zone, centred over an area of known porphyry-type alteration and high-grade mineralization in boulders, is a major step forward for this project and supports Romios' porphyry modelling."

Photo 1: Secondary copper minerals exposed in a trench within one of the 1 km wide sericite anomalies. Samples from this zone assayed up to 36.3 g/t Au and 4.8% Cu.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5376/212769_48e889edc49e1b5a_002full.jpg

Background

The Kinkaid property now consists of 131 claims, covering approximately 11.0 sq km, located 18 km east of the town of Hawthorne where the prolific Walker Lane trend overlaps the southern edge of the mineral-rich Basin and Range geological province. The claims are largely accessible by road and short hikes.

For more information, please click here for Romios' website.

Qualified Person

The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., Vice President, Exploration for Romios Gold and a Qualified Person as defined by National Instrument 43-101. In addition to his extensive experience with several major mining companies exploring for a wide variety of ore deposit types across Canada and India, Mr. Biczok spent 12 years conducting exploration and research at the Musselwhite gold mine in NW Ontario.

About Romios Gold Resources Inc.

Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100% interest in the Lundmark-Akow Lake Au-Cu property plus 4 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 claims in Nevada covering numerous Au-Ag-Cu workings, and two former producers: the Scossa mine property (Nevada) which is a former high-grade gold producer and the La Corne molybdenum mine property (Quebec). The Company retains an ongoing interest in several properties including a 2% NSR on McEwen Mining's Hislop gold property in Ontario; a 2% NSR on Enduro Metals' Newmont Lake Au-Cu-Ag property in BC, and the Company has signed a definitive agreement with Copperhead Resources Inc. ("Copperhead") whereby Copperhead can acquire a 75% ownership interest in Romios' Red Line Property in BC.

For more information, visit www.romios.com.

As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online (Twitter, Facebook, LinkedIn) please feel free to send direct messages.

To book a one-on-one 30-minute Zoom video call, please click here.

For further information, please contact:

Stephen Burega, CEO & President - 647-515-3734 or sburega@romios.com

John Biczok, P. Geo., VP Exploration - 613-410-7877 or jbiczok@romios.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212769

FAQ

What new targets were identified at Romios Gold's Kinkaid property?

Photosat's study identified significant, previously unrecognized linear alteration zones and a broad circular zone potentially linked to buried porphyry copper systems.

What are the main findings from the satellite image study at the Kinkaid property?

The study revealed significant alteration zones with sericite signatures similar to high-grade Au-Cu-Ag deposits, indicating new exploration targets.

What mineralization was found at the Kinkaid property?

Sampled boulders showed high-grade copper values up to 13.3% and gold assays up to 12.7 g/t.

When does Romios Gold plan to begin fieldwork at the Kinkaid property?

Romios Gold will start fieldwork to investigate the new targets on June 14.

What is the size and location of Romios Gold's Kinkaid property?

The Kinkaid property covers 11 sq km with 131 claims, located 18 km east of Hawthorne, Nevada.