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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

Rome Grants Riverside Option to Acquire Up to 75% of the Inguaran Property, Mexico

21/03/2012 10:09pm

Marketwired Canada


Rome Resources Ltd. (the "Company") (TSX VENTURE:RMR) (FRANKFURT:33R) is pleased
to announce that it, through its wholly-owned subsidiary Roma Recursos de
Mexico, S.A. de C.V. ("Roma") has entered into an agreement with Riverside
Resources Mexico, S.A. de C.V. ("Riverside Mexico"), the subsidiary of Riverside
Resources Inc., whereby Riverside Mexico can earn up to a 75% interest in six
mineral concessions comprising 6,539 hectares located in the Inguaran Project,
Michoacan, Mexico (the "Property"). In order to exercise its initial option (the
"Initial Option") to acquire a 51% interest in the Property, Riverside Mexico
must complete at least $3,000,000 worth of exploration expenditures on the
Property by March 2, 2015. If this first option is exercised, Riverside Mexico
will then have a second option to increase its interest to 75% by incurring an
extra $2,000,000 in exploration expenditures by the second anniversary of the
date the Initial Option was exercised. 


Rome's Inguaran Copper Porphyry Project (6,928 Ha) in Michoacan has 100+ million
tonne potential at about 0.4% copper. This potential quantity is conceptual in
nature. There has been insufficient exploration to define a mineral resource and
it is uncertain if further exploration will result in the target being
delineated as a mineral resource. Diamond drilling in December 2004 of 12 holes,
totaled 2,681 meters, and eleven trenches totaled 350 meters. The best hole in
the Anali Zone intersected 34.0 meters with a weighted average of 0.91% copper,
and the best trenches intersected 58.0 meters of 0.91% copper and 58 meters of
0.73% copper. In the Dos Cerritos Zone the best hole intersected 42.0 meters
with a weighted average of 1.18% copper, and the best trench intersected 20.0
meters (open at both ends) of 1.10% copper. Average of diamond drill hole check
samples above a cut-off of 0.4 percent copper was: 284 meters of copper
mineralization averaging 0.83% copper, 0.0004 percent molybdenum, 0.113 g/t
gold, 3.63 gpt silver and 3.73 gpt tungsten.


ROME RESOURCES LTD.

Rome Resources Ltd. is a Canadian mineral exploration company focused on gold,
silver, tungsten, molybdenum and copper projects in Argentina and Mexico. It is
publicly traded on the TSX Venture Exchange under RMR. Company details are
available in English and German at www.romeresources.com (click: "What's New"
and "Projects"). All News Releases are formally published and available on SEDAR
(click: "Investors").


On behalf of the Board of Directors

Colin I. Godwin, PhD, PEng, PGeo, President and Director of Rome Resources Ltd.

Colin I. Godwin, PhD, PEng, PGeo, a qualified person under National Instrument
43-101, has verified data disclosed in this release. 


CH Valoren No: 699 171

WKN: 886289

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