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Source: Romios Gold Resources
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  • Romios Gold (RG) has identified two new folded banded iron formations on its Lundmark-Akow Lake Project in Northwestern Ontario
  • The company’s most recent drilling program resulted in the intersection of two banded iron formations not previously known in the area
  • The folded portion of the iron formation is now a high-priority drill target for Musselwhite-type gold mineralization
  • A total of nine holes, totalling 1,756 metres were drilled from eight sites to test the on-strike projections of the three VMS-style base metal zones and the high-grade gold vein discovered on the property
  • Romios Gold is unchanged, trading at $0.04 at 3:11 pm ET

Romios Gold (RG) has identified two new folded banded iron formations on its Lundmark-Akow Lake Project in Northwestern Ontario.

The Toronto-based mineral exploration company’s most recent drilling program resulted in the intersection of two banded iron formations not previously known in the area and 18 kilometres from Newmont’s giant Musselwhite gold mine which is hosted by a tightly folded iron formation.

The folded portion of the iron formation is now a high-priority drill target for Musselwhite-type gold mineralization.

A total of nine holes, totalling 1,756 metres were drilled from eight sites to test the on-strike projections of the three VMS-style base metal zones and the high-grade gold vein discovered on the property.

“In addition to testing the aforementioned base metal and gold targets, the 2021 drill program was the first to test 2 major EM conductors along the western side of the property, resulting in the intersection of two banded iron formations not previously known in this area and only 18 km NNW of Newmont’s giant Musselwhite gold mine which is hosted by a tightly folded iron formation. We are quite excited by the intercepts of these 2 iron formations, with drilled widths up to 13.6 m, as they occur just 300 m along strike from a well-developed fold, >800 m long, which is evident on historic aeromagnetic maps of the area. This folded portion of the iron formation presents an ideal structural setting for the potential development of Musselwhite-type gold mineralization and has become a high-priority target for the next phase of drilling,” said Romios VP of Exploration John Biczok.

Romios Gold is unchanged, trading at $0.04 at 3:11 pm ET.

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