Rome Resources Ltd. (TSX VENTURE: RMR) (FRANKFURT: 33R) is pleased
to announce gold and silver grades encountered in reverse
circulation (RC) holes 001 to 029 on the West Zone of the Don Luis
Greisen-Porphyry Silver-Gold-Tungsten Property, Sonora, Mexico (all
29 holes are located in Fig. A1). The results from the first six RC
holes were reported in News Release #06, May 5th 2011; data for
these holes are repeated here, but more detail is provided. The
property is about 45 km north-northeast of Hermosillo, the capital
of Sonora.
The West Zone of the Don Luis Property has major tonnage
potential because it is represented by an anomalous zone more than
500 meters in diameter that is mineralized and oxidized to a depth
of more than 400 meters, as indicated by diamond drilling (News
Release #10, May 28th 2010). The target is a large open-pit mine
for low grade silver, gold and tungsten. The silver and gold is
expected to be heap leachable. The objective of the drilling
program is to determine grades of silver, gold, tungsten,
molybdenum and lead in this zone. Silver and gold grades, from
certified Pioneer Laboratories Ind. (Richmond, BC, Canada) are
reported here. Tungsten, molybdenum and lead are also reported, but
these analyses are by in-house Niton X-Ray fluorescence (XRF) and
the values are not certifiable. Exploration RC drilling on the Don
Luis Property is ongoing.
All mineralization is in a highly oxidized cap-rock of intensely
muscovite altered porphyry or greisen. Consequently, the gold and
silver mineralization is: (i) in rock with a low "work index", and
(ii) amenable to bulk heap leaching of oxide mineralization. Silver
appears to be concentrated in manganese rich horizons, the
distribution of which is being evaluated. Gold is associated with
vein quartz. Associated tungsten, molybdenum and lead could
contribute to the value of the silver-gold mineralization. Because
drilling is still preliminary, mineralization is open in all
directions and at depth.
Silver, gold, tungsten, molybdenum and lead grades are
calculated for the 29 RC holes (Fig. A1), which total 2,748 meters
in length drilled. Tables A1 to A5 and A7, in Appendix A, detail
analyses for silver, gold, tungsten, molybdenum and lead. Table A6
defines the parameters used in calculation of the composited values
in Tables A1 to A5. Recovery overall is about 70 percent due to
highly fractured, faulted and locally porous ground conditions. The
impact of this poor recovery on the assay grades is not known.
Silver and gold generally do not occur together, but both
contribute to a significant bulk value for the greisen-porphyry
mineralization. The best composited silver (Table A1) and gold
(Table A2) values are:
1. Silver: holes DLS11RC014 (100.5 meters of 30 gpt) and DLS11RC015 (100.5
meters of 20 gpt. Both holes are 102.0 meters long; consequently both
holes are strongly mineralized with silver over their entire length.
2. Gold: holes DLS11RC004 (43.5 meters of 0.278 gpt), DLS11RC021 (15.0
meters of 0.780 gpt), DLS11RC022 (39.0 meters of 0.356 gpt), DLS11RC026
(58.5 meters of 0.274 gpt) and DLS11RC027 (42.0 meters of 0.428 gpt).
Gold is associated with vein quartz.
Additional value might be added from contained tungsten,
molybdenum and lead. However, the values for these elements in
Tables A3 to A5 and A7 are from in-house analysis with a Niton XRF
analyzer; consequently, these analyses are not certified, but serve
to indicate that these components could contribute significantly to
the value of the mineralization.
The importance of the mineralization encountered in these 29
holes (Fig. A1) is emphasized by the overall averages of for all
holes taken together (Tables A1 to A5). The weighted averages
(using length of each hole and the average assays for each hole)
for the total 2,748.0 meters in 29 holes, with assays every 1.5
meters (less than six missing analyzes) are:
1. Silver average over 2,748 meters: 9.82 gpt (certified
analyses).
2. Gold average over 2,748 meters: 0.117 gpt (certified
analyses).
3. Tungsten average over 2,748 meters: 0.033 percent (XRF
qualitative analyses).
4. Molybdenum average over 2,748 meters: 0.0058 percent (XRF
qualitative analyses).
5. Lead average over 2,748 meters: 0.184 percent (XRF
qualitative analyses).
Some of the better overall analyses in individual holes are
presented in Table A7.
The West Zone of the Don Luis Property: (i) has significant
grades in gold and silver with potential contributions in value
from tungsten, molybdenum and lead, (ii) has mineralization over a
volume that could host porphyry-style bulk tonnage for an open pit
mine, and (iii) might be metallugically complex because of the
variety of elements/minerals involved. Less than a third of the
area defined in Figure A1 as highly significant by geology,
geophysics and geochemistry has been examined by the drilling
programs to date. The West Zone could host a major bulk-tonnage,
open pit oxide, silver and gold (plus possible tungsten, molybdenum
and lead) deposit-especially given the currently high and
escalating prices for gold, silver, tungsten and molybdenum.
Rome Resources Ltd. is a Canadian mineral exploration company
focused on silver, gold, copper and tungsten projects in Mexico and
Argentina. It is traded on the TSX-VEN (symbol RMR) and on the
Frankfurt Exchange (33R). Company and exploration details are at:
http://www.romeresources.com (click: "What's New" (SEDAR News
Releases) and "Projects").
On behalf of the Board of Directors
Colin I. Godwin, PhD, PEng, PGeo
President and Director of Rome Resources Ltd.
Professor Emeritus, The University of British Columbia
Colin I. Godwin, PhD, PEng, PGeo, a qualified person under
National Instrument 43-101, has verified data disclosed in this
release. This News Release may contain forward-looking statements.
Forward-looking statements are statements which relate to future
events. These statements are only predictions and involve known and
unknown risks, uncertainties and other factors that may cause our
or our industry's actual results, levels of activity, performance
or achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements. While these
forward-looking statements, and any assumptions upon which they are
based, are made in good faith and reflect our current judgment
regarding the direction of our industry, actual results will almost
always vary, sometimes materially, from any estimates, predictions,
projections, assumptions or other future performance suggested
herein.
To view Figure A1 and Tables A1-A7, please visit the following
link: http://media3.marketwire.com/docs/810rome_image.pdf
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this News Release.
Contacts: Rome Resources Ltd. Colin I. Godwin, PhD, PEng, PGeo
+604.939.6507 cigodwin@romeresources.com www.romeresources.com
Rome Resources (TSXV:RMR)
Historical Stock Chart
From Jul 2024 to Aug 2024
Rome Resources (TSXV:RMR)
Historical Stock Chart
From Aug 2023 to Aug 2024