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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Rome Resources Ltd | TSXV:RMR | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.19 | 0.15 | 0.175 | 0 | 01:00:00 |
From May 2019 to May 2024
Rome Resources Ltd. (TSX VENTURE:RMR) (FRANKFURT:33R) is pleased to announce hole-averaged silver equivalent grades from certified gold and silver assays in drill holes (DLS10DD01 & 2 and DLS11RC001 to 064) on the West Zone of the Don Luis Greisen-Porphyry Silver-Gold-Tungsten Property, Sonora, Mexico (all holes in the West Zone are located in Fig. A1). Composed results from the first six reverse circulation (RC) holes were reported in News Release #06, May 5th 2011, and correspondingly detailed data for RC holes 001 to 024 were announced in News Release #08, August 10th 2011. This report presents hole-averaged assay data for all holes currently completed in the West Zone. Certified silver and gold grades from Pioneer Laboratories Inc. (Richmond, BC, Canada) in Table A1 were used to calculate the hole-averages of silver equivalent grades (on a 1 silver to 40 gold ratio), which are presented in the right hand column of Table A1.
The West Zone of the Don Luis Property has porphyry-style, open-pit tonnage potential. The zone is represented by an anomaly 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). This porphyry-class tonnage potential is demonstrated in Figure A1 that illustrates how a 108 million tonne (tonne = metric tonne) block fits within the priority drilling area of the West Zone. Note that the potential quantity, above, is conceptual in nature, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in discovery of a mineral resource.
Hole-averaged equivalent silver values for combined silver and gold, using a silver to gold ratio of 40:1, are mapped in Figure A2-as generated from data in Table A1. These hole-averaged equivalent silver values increase to the north to more than 20 grams per metric tonne. Higher grades are also open in this direction.
Hole-averaged assay data for silver and gold with a calculated silver equivalent grade (silver:gold calculated at 40:1) for all holes located in the West Zone on Figures A1 and A2 are in Table A1. The higher grades of hole-averaged equivalent silver encountered in these holes (Table A1 and Figs. A1 & A2) is emphasized by the large number of holes with greater than 20 grams per metric tonne of silver equivalent. These drill holes are:
1. DLS11RC007: 93.0 meters total length with 21.50 grams/metric tonne silver equivalent.
2. DLS11RC014: 102.0 meters total length with 31.99 grams/metric tonne silver equivalent.
3. DLS11RC015: 102.0 meters total length with 23.95 grams/metric tonne silver equivalent.
4. DLS11RC021: 87.0 meters total length with 27.70 grams/metric tonne silver equivalent.
5. DLS11RC030: 99.0 meters total length with 21.86 grams/metric tonne silver equivalent.
6. DLS11RC033: 67.5 meters total length with 32.40 grams/metric tonne silver equivalent.
7. DLS11RC060: 100.5 meters total length with 22.05 grams/metric tonne silver equivalent.
8. DLS11RC062: 87.0 meters total length with 27.59 grams/metric tonne silver equivalent.
9. DLS11RC064: 52.5 meters total length with 20.57 grams/metric tonne silver equivalent.
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, bismuth and lead could contribute to the value of the silver-gold mineralization, based on qualitative, in-house Niton XRF analyses (see News Release #08, August 10th 2011). Because drilling is preliminary, mineralization is open in all directions and at depth. Core recovery in diamond drilling was about 80% and recovery in reverse circulation drill holes was approximately 70%. The effect of this recovery on overall grade assessment is not known.
IN SUMMARY, the West Zone target is a 100 million tonne, porphyry-style, open-pit mine for bulk-tonnage low grade silver and gold. There are potentially additional values in tungsten, molybdenum, bismuth and lead. Mineralization occurs in an oxide zone and is expected to be heap leachable. Recovery of other minerals, such as the tungsten mineral wolframite, might be achieved by gravity methods. Metallurgical options are to be evaluated.
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. 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. This News Release may contain forward-looking statements. Forward-looking statements are statements which relate to future events. As such, they are 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.
APPENDIX A
To view the Figure associated with this press release, please visit the following link:
http://media3.marketwire.com/docs/rmra1.jpg
Figure A1. Drill holes currently completed on the West Zone of the Don Luis Property in Sonora, Mexico, are plotted as black dots. Holes DLS10DD01 & 02 and DLS11RC001 to 064 are plotted in this map and summarized in Table A1. The average assay of each hole for silver equivalent in grams per metric tonne is in Table A1 and contoured in Figure A2. The potential of this zone to contain 100 million tonnes is illustrated by the dark blue block plotted on top of the red priority drill area. The areas of both are about the same; the depth is estimated from the two diamond drill holes in the area (DLS10DD01 & 02) that were about 400 meters long and totally within oxidized, leached cap rock.
To view the Figure associated with this press release, please visit the following link:
http://media3.marketwire.com/docs/rmra2.jpg
Figure A2. Drill holes completed on the West Zone of the Don Luis Property in Sonora, Mexico, are plotted as black dots with a size that reflects average silver equivalent in grams per metric tonne (legend: "GpTonne"). These values are also contoured. Values are higher to the northeast. Holes in the southwest have lower values, but this might be because these holes were short and failed to reach the deeper manganese-silver enrichment horizons.
TABLE A1. Average values for the total length of each hole for significant metals in completed holes in the West Zone of the Don Luis Property, Sonora, Mexico. Analyses labeled "Pioneer" are certified analyses from Pioneer Laboratories Inc. Core recovery in diamond drill holes (DD01, etc.) are in the order of 80%. Recovery in reverse circulation holes (suffix RC001, etc.) is in the order of 70% Holes are plotted in Figure A1. Hole-averaged silver equivalent in grams per metric tonne ("AgEquiv. Grams/Tonne") are plotted in Figure A2. ((i) marks data for two diamond drill holes in the zone that were averaged for only the top 100 meters to match the maximum depths of most of the reverse circulation holes.)
Hot Features
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Drill Hole Name Length M AgGpt AuGpt AgE40Gpt
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DLS10DD01(i) 100.0 10 0.064 12.38
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DLS10DD02(i) 96.0 10 0.076 13.37
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DLS11RC001 96.0 12 0.035 13.05
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DLS11RC002 103.5 11 0.163 17.65
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DLS11RC003 100.5 7 0.045 9.04
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DLS11RC004 100.5 7 0.133 11.90
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DLS11RC005 100.5 8 0.105 12.18
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DLS11RC006 79.5 10 0.140 16.07
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DLS11RC007 93.0 17 0.115 21.50
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DLS11RC008 100.5 10 0.165 16.45
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DLS11RC009 90.0 5 0.081 8.04
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DLS11RC010 102.0 7 0.191 14.96
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DLS11RC011 102.0 8 0.116 12.38
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DLS11RC012 87.0 7 0.132 11.84
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DLS11RC013 102.0 9 0.109 13.17
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DLS11RC014 102.0 30 0.052 31.99
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DLS11RC015 102.0 20 0.102 23.95
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DLS11RC016 82.5 11 0.068 13.35
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DLS11RC017 102.0 7 0.060 9.47
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DLS11RC018 93.0 4 0.013 4.83
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DLS11RC019 99.0 9 0.029 9.83
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DLS11RC020 90.0 8 0.193 15.82
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DLS11RC021 87.0 18 0.239 27.70
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DLS11RC022 90.0 7 0.166 13.35
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DLS11RC023 100.5 4 0.105 8.01
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DLS11RC024 31.5 4 0.247 14.36
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DLS11RC025 99.0 2 0.088 5.93
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DLS11RC026 100.5 6 0.328 19.06
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DLS11RC027 102.0 4 0.190 11.67
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DLS11RC028 102.0 11 0.032 12.67
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DLS11RC029 108.0 17 0.064 19.61
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DLS11RC030 99.0 15 0.182 21.86
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DLS11RC031 102.0 6 0.180 13.31
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DLS11RC032 48.0 10 0.181 17.58
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DLS11RC033 67.5 21 0.283 32.40
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DLS11RC034 90.0 4 0.098 8.33
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DLS11RC035 100.5 3 0.087 6.40
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DLS11RC036 102.0 2 0.037 3.26
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DLS11RC037 102.0 4 0.039 5.39
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DLS11RC038 100.5 4 0.036 5.13
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DLS11RC039 45.0 0 0.024 1.44
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DLS11RC040 52.5 1 0.009 0.97
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DLS11RC041 60.0 6 0.008 6.18
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DLS11RC042 60.0 0 0.008 0.71
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DLS11RC043 66.0 0 0.037 1.77
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DLS11RC044 69.0 9 0.042 10.29
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DLS11RC045 100.5 3 0.014 3.72
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DLS11RC046 96.0 3 0.036 4.57
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DLS11RC047 90.0 4 0.080 7.65
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DLS11RC048 22.5 5 0.063 7.73
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DLS11RC049 102.0 8 0.155 14.05
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DLS11RC050 100.5 7 0.033 8.70
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DLS11RC051 48.0 9 0.133 14.42
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DLS11RC052 24.0 5 0.022 5.76
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DLS11RC053 51.0 4 0.064 6.21
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DLS11RC054 28.5 1 0.006 1.36
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DLS11RC055 40.5 2 0.008 2.51
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DLS11RC056 54.0 1 0.019 1.71
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DLS11RC060 100.5 20 0.041 22.05
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DLS11RC061 102.0 16 0.032 17.70
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DLS11RC062 87.0 25 0.068 27.59
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DLS11RC063 88.5 14 0.065 17.01
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DLS11RC064 52.5 19 0.050 20.57
Contacts: Rome Resources Ltd. Colin I. Godwin, PhD, PEng, PGeo President and Director +604.939.6507cigodwin@romeresources.com
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