Gold and other precious metal explorers in North America can see huge stock price pops just on a single drill result, provided it is a great one. We saw that with Kodiak Copper in September 2020 when the stock popped over 700% in the month following a great copper-gold porphyry drill result. For investors selecting the right junior precious metal explorer is not easy, but the rewards for success can be huge. One junior explorer that has more precious metal projects than most miners, all in North America, is Romios Gold Resources Inc. (TSXV: RG) (‘Romios’).
Currently awaiting several drill results from their 2020 campaign, including from their Trek Project (potential porphyry copper-gold deposit), Romios has 25 years of experience assembling a huge fully-owned North American portfolio of precious metal (gold, silver, copper, cobalt, molybdenum) projects. Their strategy is to acquire land next to major gold projects then economically explore them for precious metals. In some cases, this is done via earn-in partners and in other cases directly by Romios.
Below is a quick overview of Romios’ projects:
Golden Triangle, British Colombia projects (flagship region)
- Newmont Lake Project (approx. 58,000 hectares, currently optioned out to Crystal Lake Mining and with a 43-101 Inferred Resource with 200,000 oz contained gold at 4.43 g/t, plus 6,790,000 lbs. of copper at 0.22% and 291,000 ounces of silver at 6.4 g/t).
- Trek Project (exciting potential porphyry copper-gold target with promising early drill results).
- JW Property (includes 45 metres grading 0.24% Cu and 0.4 g/t Au).
- Royce/Porc Property (several gold-bearing, quartz-sulphide veins).
Ontario projects
- Lundmark-Akow Lake Project (2019 drill result of 8.6 g/t gold over 4.75 metres).
- Timmins Hislop Gold Project, Thunder Bay (recently claimed stakes, where historic miners found silver grades of >1,000 oz/t.).
Quebec project
- La Corne Molybdenum Project (historical resource with molybdenum and bismuth).
Nevada Project
- Scossa Gold Project (includes a historical drill result of 3.35 m @ 180.22 g/t Au, 4.02 g/t Ag). This property has a history of gold mining with very high-grade bonanza gold.
Romios Gold’s numerous projects in major mining districts in North America
Source: Romios Gold company presentation
Note: Romios also recently acquired land at the Thunder Bay Camp in Ontario with four historic silver prospects.
With so many early-stage exploration projects it can be hard for companies to progress them rapidly. Romios is currently boosting awareness of their Company to boost capital and therefore accelerate exploration across so many promising targets.
At Newmont Lake, they have optioned out the exploration in return for a 2% NSR royalty, 12 million common shares of Enduro Metals Corporation (previously Crystal Lake Mining), and cash payments. In return, Enduro must complete an $8 million, three-year exploration plan.
Looking ahead to 2021
Romios is still awaiting drill assay results from some of their 2020 exploration work and based on results intends to actively explore their best prospects further in 2021.
Specifically the 2020 drill results from the promising Trek Project porphyry copper-gold targets (includes Trek South) and the Andrei target at Newmont Lake. The Trek Project has an approximate 5.0 km strike-length of mineralization along deep basement structures. Work in previous years included 35 drill holes that returned assays up to 131 metres @ 0.6% Cu, 0.39 g/t Au and 8.5 g/t Ag. The Trek Project is located 10 km SE of the enormous (>1.1 billion tonne) Galore Creek porphyry Cu-Au deposits which are owned by the Teck-Newmont JV.
Romios is also awaiting 2020 drill results from their Lundmark-Akow Lake Project in Ontario Canada. These are intended to follow up on Romios’ exciting 2019 discovery of 8.6 g/t gold over 4.75 metres.
Romios Gold’s Trek Project in the Golden Triangle of British Colombia, Canada
Source: Romios Gold company presentation
Closing remarks
They say timing is everything in mining investing and that certainly can be true with junior precious metal explorers. Romios Gold Resources currently trades on a very low market cap of C$12M. And with such a large exploration package of properties, and gold at US$1,845/oz and copper at US$3.78/lb, we look forward to their drill results.
Disclosure: The author is long Romios Gold Resources Inc. (TSXV: RG)
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