14th Mar 2025 07:00
This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
14 March 2025
Rome Resources Plc("Rome" or the "Company")
Drilling & Operations Update
Rome Resources Plc (AIM: RMR), the DRC-focused tin and base metals explorer, provides the following update in relation to its exploratory drilling programme in the Bisie North Permit area.
Following completion of the last two exploratory holes, MADD024 and MADD026, the total metres drilled to date at the Bisie North Project is 2,181 metres from 10 holes at Mont Agoma and 2,264 metres from 18 holes at Kalayi. As noted in the Company's announcement released on 13 March 2025, Rome has now temporarily paused its drilling operations in advance of undertaking a maiden inferred mineral resource estimate of both the Kalayi and Mont Agoma prospects.
Significant zones of visible tin and copper mineralisation were intersected in both drill holes and included:
MADD024
· 27m of tin from 158m - 185m.
· 112m of copper - 33m from 57m - 90m; 15m from 108m - 123m; 37m from 152m - 189m and 27m from 209m - 236m.
MADD026
· 25m of tin from 174m - 201m.
· 54m of copper - 13m from 109m - 122m and 41m from 174m - 215m.
As previously announced, MADD024 was drilled approximately 70m below MADD012 and therefore it is anticipated that the tin grade improves at depth from the previously reported 0.1-0.5% at MAD0012.
MADD026 was drilled 50m south of MADD024 and approximately 70m below MADD011 which reported a best tin zone of 9m at 0.25% from 122m. The company believes this is the same structure being intersected, only deeper in the system, therefore an improvement of grade is also expected.
The Company expects the copper in both holes to be similar in nature to the higher grades seen in the more central section of the licence.
The samples from the mineralised sections in both drill holes have been processed on site and are currently being transported to Lubumbashi for sample preparation prior to analyses in Johannesburg.
Once results have been reported, the Company expects to progress towards a maiden inferred mineral resource estimates at both Kalayi and Mont Agoma. This is expected before the end of April 2025.
Operational update:
In light of the latest developments surrounding advances made by M23 and current drilling milestones achieved at Kalayi, and more recently with the completed MADD024 and MADD026 holes at Mont Agoma, the Company has decided to temporarily pause drilling operations at its Bisie North Project. This temporary pause will also allow the drilling contractors to source all drill rig spare parts and rods via Kisangani given their supply chain from Goma was severed through the closure of the Goma airport.
The Company highlights that all the drilling crews are paid on a per meter basis. As a result, during periods of inactivity there will be no cost to Rome from the drilling contractors.
While the Company continues to closely monitor the situation, Rome also welcomes the recent news reports noting potential peace talks being brokered by Angola in relation to the current conflict between the DRC and M23.
Paul Barrett, Chief Executive Officer of Rome Resources Plc, commented:
"We are pleased to have gathered significant data from our two most recent drill holes at Mont Agoma which strongly support our geological model.
Following the evacuation of Alphamin's Bisie mine site and their kind offer of assistance, we saw this as an opportune time to strategically pause operations enabling our service providers to carry out their required maintenance.
We are pleased to work with our service providers to ensure the best use of Company's funds during this time of reduced activity, placing the Company in a much stronger position for when we commence drilling.
We thank Alphamin for their support during this time and we look forward to updating the market with the assays from holes MADD024 and MADD026 in due course as well as our maiden inferred mineral resource estimate."
**ENDS**
For further information, please contact:
Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor hub | https://romeresources.com/link/5Pmg6e
|
Rome Resources Plc Paul Barrett, Chief Executive Officer Mark Gasson, Chief Operating Officer
| Tel. +44 (0)20 3143 6748 |
Allenby Capital Limited (Nominated Adviser and Joint Broker) John Depasquale / Vivek Bhardwaj / Lauren Wright (Corporate Finance) Stefano Aquilino / Joscelin Pinnington (Sales & Corporate Broking)
| Tel. +44 (0)20 3328 5656
|
OAK Securities (Joint Broker) Jerry Keen, Head of Corporate Broking Henry Clarke, Head of Sales | email: [email protected] email: [email protected] Tel. +44 (0)20 3973 3678 |
Camarco (Financial PR) Gordon Poole / Emily Hall / Sam Morris
| Tel. +44 (0) 20 3757 4980 |
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Qualified Person Statement
Dr Deon Vermaakt is a consultant of Rome Resources plc, a qualified geologist and a registered Professional Natural Scientist (Geological Science) with the South African Council for Natural Scientific Professions (SACNASP Reg. No. 400074/03). Dr Vermaakt is a qualified person (QP) under NI 43-101 and as defined by the AIM Note for Mining, Oil and Gas Companies and has reviewed and approved the scientific and technical information contained in this news release.
Furthermore, Dr Vermaakt reviews all the sampling procedures on an on-going basis. The handheld Niton XRF is frequently checked and calibrated to ensure accurate analysis and measurements.
Glossary
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Ag: | Silver |
Cu: | Copper |
g/t: | grams per tonne (Metric) |
Km: | Kilometres (Metric) |
M: | Metres (Metric) |
Niton XRF: | A portable x-ray fluorescence analyser |
Pb: | Lead |
Ppm: | Parts per million (metric) |
Sn: | Tin |
Zn | Zinc |
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