Canadian Mining Journal

News

GOLD: Romios acquires claims next to Newmont’s Arseno Lake deposit



ONTARIO – Romios Gold Resources has staked 81 mining claims totalling 15.8 sq. km within the Arseno Lake area in northwestern Ontario.

In a press release, the miner said the claims cover the on-strike continuation of a mineralized iron formation and coincident shear zone. According to Romios, this prospect was discovered by Northern Dynasty Explorations in 1987 and is currently held by Newmont. However, little work of any material significance has been done on the property since 1988.

“Romios’ new claims flank Newmont’s Arseno Lake claims on both the east and west sides, 2 km and 3 km respectively from the centre of the historic prospect,” the media brief states.

“The westernmost drill hole completed by Northern Dynasty intersected 3.2 metres grading 4.8% zinc, 1.1 % lead and 2.4 oz./t silver. This hole is 1.8 km from the western block of Romios’ new claims and no holes were drilled further west even though the untested horizon carries on westward for at least 3.4 km and possibly as much as 8 km.”

In the view of the Toronto-based company, the potentially significant gold overprint of the Arseno Lake horizon has been underexplored and can now be readily assessed through relatively inexpensive means such as modern soil sampling and advanced analytical techniques.

This story originally appeared on www.Mining.com