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Rome Grants Riverside Option to Acquire up to 75% of the Inguaran Property, Mexico
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.
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.
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Rome Resources Ltd. is a Canadian-based mining and mineral exploration company. The company’s exploration is focused on copper-silver-