Proximity play all week on some public awarenessBut after a 50% gain this week and nothing in the works except drilling to commence weather permitting. remember too the Titan survey on the Claims is a J/V with Roca Mines and its hasn't moved much couple cents to around .25 and its a producing MO miner..So I'd expect the sell off at today's high and looking for at least a good 50% retracement back down to when it first started to take off.. i'm out but looking at it again below .46 or better using .24 cents to 68 cents /2 around a 22 cents pull back and probably more like the 30's even on a intra day low... Be careful chasing this too soon especially with no material change admitted by the company to IIROC..Very unusual announcement and definitely a sell sign Mortimer for now any way. Hope this helps ..Heck of a pre/proximity run.
One for the radar to re-enter..
Romios Gold Resources Inc. ("Romios"), has earned a 50% interest inRoca's Seagold Property, which is an integral component of the NewmontLake Project in the prolific Eskay/Iskut Mining Camp of northwesternBritish Columbia.
Romios has earned a 50% interest in Roca Mines Inc.'s Galore Creek area("Seagold") claims and has formed a 50:50 joint venture with Roca forthe further exploration and development of the property. The propertyconsists of 8 claims or 160 units, covering 4,000 hectares adjoiningRomios's Newmont Lake property. Romios earned its 50-per-cent interestby incurring expenditures of $1,516,050 on exploration of the property,paying $200,000 in cash option payments, issuing 600,000 common sharesto Roca and paying a $30,000 advance royalty payment.
Romios carried out an exploration program on the property in 2007 whichincluded airborne DIGHEM EM/magnetic geophysical surveys, ground inducedpolarization (IP) geophysical surveys, soil and rock geochemicalsurveys, prospecting and geological mapping. Roca's claims are adjacentto the North West zone, which is contained within the Newmont Lakeproperty.
Based on earlier drilling, the North West zone was calculated to contain an inferred resource of
1,406,000 tonnes at a grade of
4.43 grams per tonne (g/t) Au, 0.22 per cent Cu and 6.4 g/t Ag or a gold equivalent grade (AuEq) of 5.16 g/t as announced by Romios on March 27, 2007. This equates to in-situ contained metal of
200,000 ounces of gold, 6.79 million pounds of copper and 291,000 ounces of silver. These resources are reported at a base-case gold equivalent cut-off grade of 2 g/t.
Romios is conducting a work program at the North West zone to includediamond drilling, metallurgical sampling, ground magnetic, electricalgeophysical surveys and a down-the-hole EM survey.
For more information on the Newmont Lake Project, please visit
www.romios.com.
