Rome Resources Ltd : ROME GRANTS RIVERSIDE OPTION TO ACQUIRE UP TO 75% OF THE INGUARAN PROPERTY, MEXICO
(Thomson Reuters ONE) -
ROME RESOURCES LTD.
[TSX-VEN: RMR & FRANKFURT: 33R]
205 - 16055 Fraser Highway
Surrey, B.C. V4N 0G2
WEB: www.RomeResources.com CH Valoren No: 699 171
Email: info(at)RomeResources.com WKN: 886289
FAX: +(604) 507-2187 TEL: +(604) 507-2181
NEWS RELEASE#5: MARCH 21, 2012
ROME GRANTS RIVERSIDE OPTION TO ACQUIRE UP TO 75% OF THE INGUARAN PROPERTY,
MEXICO
Rome Resources Ltd. (the "Company") 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. (TSX-V: RRI,
"Riverside"), 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"
Colin I. Godwin, PhD, PEng, PGeo
President and Director of Rome Resources Ltd.
Professor Emeritus, The University of British Columbia
Telephone: (604) 939-6507
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 announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Rome Resources Ltd via Thomson Reuters ONE
[HUG#1596377]
Unternehmensinformation / Kurzprofil:
Datum: 22.03.2012 - 10:01 Uhr
Sprache: Deutsch
News-ID 127403
Anzahl Zeichen: 4672
contact information:
Town:
Surrey, BC
Kategorie:
Business News
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