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I've been in this one for almost 4 years. It trades on the Canadian Dealer's Network (RGRI). I won't bore you with the details, as anyone should do there own DD and come to a new stock clean. Here is the latest (June 7, 2000) news release.
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Romios extends high-grade gold mineralization in Nevada property
Romios Gold Resources Inc RGRI
Shares issued 5,694,336 2000-06-02 close $0.55
Wednesday Jun 7 2000
Mr. Tom Drivas reports
The company continues to encounter significant gold mineralization on its Scossa gold property in Nevada and has extended the zones of high-grade gold mineralization intersected in the initial holes drilled on the property. To date, nine holes have been completed. The first seven (holes DDH-00-01 through DDH-00-07) were designed to test the down dip and down plunge extension of one of several zones of gold mineralization that were mined during the 1930s in the vicinity of Shaft No. 1 and to test for previously unknown occurrences of gold. Holes DDH-00-08 and DDH-00-09 were drilled in the vicinity of Shaft No. 5 to test the northeast-trending quartz breccia zone on which the shaft was sunk, where the zone is postulated to intersect one of the northwest-trending gold-bearing structures on the property.
Hole DDH-00-06, which was drilled to a depth of 71.32 metres (234.0 feet) from the same setup as Hole DDH-00-02 with an azimuth of 61 degrees 30' and a dip of -61 degrees, intersected a distinct zone of sheared and brecciated quartz veining, identical to those encountered in holes DDH-00-02, DDH-00-03 and DDH-00-05, from 58.52 metres (192.0 feet) to 60.35 metres (198.0 feet), a thickness of 1.83 metres (6.0 feet) in the hole. Core samples collected from this zone averaged 41.83 grams per tonne (1.22 ounces per ton) in gold and 36.34 grams per tonne (1.06 ounces per ton) in silver across the entire 1.83 metres (6.0 feet). Within this section, from 59.28 metres (194.5 feet) to 60.35 metres (198.0 feet), a thickness of 1.07 metres (3.5 feet), the core assayed 71.07 grams per tonne (2.073 ounces per ton) in gold and 61.71 grams per tonne (1.80 ounces per ton) in silver. This zone correlates well with the upper zone of high-grade gold mineralization intersected in holes DDH-00-02, DDH-00-03 and DDH-00-05.
Hole DDH-00-07, which was drilled to a depth of 48.16 metres (158.0 feet) along the same plane as hole DDH-00-06 with a dip of -40 degrees intersected a gouge zone consisting of a high density of brecciated quartz veinlets containing a number of small grains of electrum (a naturally occurring alloy of gold and silver) from 40.23 metres (132.0 feet) to 41.76 (137.0 feet), a thickness of (5.0 feet) in the hole. A sample collected from this zone assayed 13.71 grams per ton (0.40 ounce per ton) in gold. As in hole DDH-00-06, this intersection appears to correlate with the upper zone of gold mineralization in holes DDH-00-02, DDH-00-03 and DDH-00-05. Hole DDH-00-07 was terminated prematurely when it entered some old workings which are believed to be a reflection of the lower zone of high grade mineralization encountered in some of the earlier holes that were drilled.
Holes DDH-00-08 and DDH-00-09 were drilled to depths of 73.15 metres (240.0 feet) and 89.61 (294.0 feet) respectively in the vicinity of Shaft No. 5 which is located approximately 600 feet east of the collars of drill holes DDH-00-01 through DDH-00-07. Visual inspection of the core indicates that the target quartz breccia zone was intersected in each hole. These holes are in the process of being logged and sampled. The details of holes DDH-00-08 and DDH-00-09 and the results of the analyses of the samples will be announced when available. The drill rig has been moved a further 600 feet to the east northeast and hole DDH-00-10 is in progress to test the easternmost known vein on the Scossa property.
Recent reconnaissance mapping carried out by William Utterback, Romios Gold's Scossa project manager, identified a network of epithermal quartz veins along a strike length of approximately 3,000 feet and a width of 4,000 feet, perpendicular to the strike, on the property. The geological and mineralogical characteristics of the vein fragments that litter the old mine dumps are typical of epithermal quartz veins along the "Sleeper Trend", which hosts the Sleeper mine, an unusually rich epithermal-type gold mine located 50 miles northeast of the Scossa property. This, together with the high volume of quartz-lined vugs (open cavities) indicates a high level in the hydrothermal system which strongly suggests that the bulk of the gold-bearing structures on the Scossa property has not been removed through the process of erosion but is preserved at depth. In the opinion of management and in recognition of the classic epithermal model, this bodes well for the potential of the property.
As a matter of procedure, the drill core is being cut into two equal portions using a diamond saw to ensure that representative samples of the gold-bearing zones are collected for analyses rather than the less reliable "core splitter" method.
Romios Gold Resources continues to be highly encouraged by the results from the initial drilling on the property and intends to drill a number of additional holes to test other zones on the property that are known to be gold-bearing, with the funds that were raised recently through a seed capital offering of common shares of Romios.
A map showing the drill hole location is available from Romios upon request.
The property is located in Pershing County in the north central portion of Nevada, U.S., approximately six miles southeast of the Rosebud mine, a high-grade, underground gold mine currently being operated on a joint venture basis between Hecla Mining Company and Newmont Mining Corporation and about eight miles southeast of Hycroft Resources open pit gold mine which produces in excess of 100,000 ounces of gold annually.
Romios is a junior exploration company which focuses on the acquisition and exploration of precious and base metal properties with special emphasis on gold in the vicinity of established mining camps or adjacent to existing and/or developing mines. In addition, Romios Gold is considering resumption of exploration on its large property in the Lundmark-Akow Lake area in northwestern Ontario, where recent drilling carried out by it, encountered a wide zone of potentially significant copper and gold mineralization over a strike length of more than 1,000 metres.
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