- Romios Gold Resources (RG) and Copperhead Resources have signed a definitive option agreement for Copperhead to acquire a 75 per cent ownership interest in the Red Line Project from Romios
- The Red Line claims cover over 1,851 hectares
- They are located in the central part of the “Golden Triangle” mineralized district of NW British Columbia
- Some terms of the agreement include the issuance of one million Copperhead shares within 5 days of executing the option agreement
- Payment of CAD$75,000 within 36 months of executing the option agreement
- Romios Gold Resources Inc. (RG) remained unchanged, trading at $0.05 at 11:25 AM ET
Romios Gold (RG) and Copperhead Resources have signed an option agreement.
Under the terms of the agreement, Copperhead can acquire a 75 per cent interest in the Red Line Project in B.C.
The Red Line claims cover over 1,851 hectares located in the central part of the “Golden Triangle” mineralized district of NW British Columbia. They are situated along the “Eskay Rift” belt of rocks that host the Eskay Creek Au-Ag deposit 30 km to the south.
The original 5 claims were staked by Romios on August 27, 2020, to cover a section of the “red line” contact between Lower Jurassic Hazelton Group rocks and Upper Triassic Stuhini Group rocks, a highly prospective regional contact along which numerous porphyry Cu-Au-Ag and several gold deposits are localized.
An additional claim was staked by Romios on January 21, 2022, when the ground to the south covering an area of fault-related conglomerates came open.
Some of the terms of the agreement include that Copperhead must issue 1 million Copperhead shares within 5 days of executing the option agreement; issue 500,000 Copperhead shares within 36 months of executing the option agreement; and pay CAD$75,000 within 36 months of executing the option agreement.
Copperhead will be the operator of the project during the term of the option agreement. If the option is exercised, Romios and Copperhead will enter into a joint-venture agreement.
Romios Gold has over 400 square kilometres of claims in the Golden Triangle which include 3 significant Cu-Au porphyry prospects that are adjacent to Teck-Newmont’s Galore Creek project.
Romios Gold Resources Inc. is a Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, copper and silver.
Copperhead is a private natural resources company, presently engaged in the acquisition and exploration of mineral resource properties.
Romios Gold Resources Inc. (RG) remained unchanged, trading at $0.05 at 11:25 AM ET.