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RMR Rome Resources Ltd

0.19
0.00 (0.00%)
21 May 2024 - Closed
Delayed by 15 minutes
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

Results for Reverse Circulation Holes 001 to 029 on the West Zone of Rome's Don Luis Property, Sonora, Mexico

11/08/2011 1:00am

Marketwired Canada


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


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