REG - Rome Resources PLC - Drilling Intersects Tin Mineralisation

Rome ResourcesAnnouncement

20/08/2024 07:30

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RNS Number : 0179B  Rome Resources PLC  20 August 2024

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.

 

20 August 2024

 

Rome Resources Plc

("Rome" or the "Company")

 

Drilling Intersects Tin Mineralisation

 

Rome Resources Plc (AIM: RMR) is pleased to provide an update on diamond core
drilling operations on its Kalayi prospect ("Kalayi") located in the North
Kivu province in the Democratic Republic of Congo (the "DRC") which, together
with the Mont Agoma prospect and the Mont Agoma Northwest prospect, comprise
the "Bisie North Projects" (the "Project").

 

Highlights

 

·      Drillhole KBDD005 was drilled down to a depth of 164.5m at the
Kalayi Prospect.

·      The mineralised zone was intersected roughly 60m below the KBDD003
drillhole from Rome's 2023 drilling campaign which had reported 12.5m at 1.03%
Sn including 1m at 2.78% Sn and 1m at 7.12% Sn.

·      Visible coarse grained cassiterite (tin mineral) in KBDD005 was
intersected in 3 narrow zones associated with quartz veining and silica
flooding at 88.5m, 114m and 125m.

·      Mobilisation of the second and third drill rigs to site will be
completed during this week.

 

The presence of cassiterite (tin mineral) was confirmed from the Niton XRF
analyses.  Strong chlorite alteration (as shown in Figure 1) together with
shearing and quartz veining was noted throughout a 30m interval from 84 to
114m.  This has the potential to host fine grained disseminated cassiterite,
which will be assessed in the quantitative analyses to be conducted by the
laboratory. Chlorite alteration is strongly associated with tin mineralisation
at both Alphamin's Mpama North and South deposits indicating a similar style
of mineralisation at Kalayi.

 

Paul Barrett, Chief Executive Officer of Rome Resources Plc, commented:

 

"We are delighted to see visible tin mineralisation in several intervals in
the first hole of this drilling campaign and look forward to reporting assays
as soon as they become available.  We are also pleased to be mobilising
additional drilling units to site to maintain an aggressive drilling campaign
over the coming weeks and months."

 

 

 

 

Figure 1: Drill core at the Kalayi Prospect (88.4m) showing strong chlorite
alteration (green) and coarse grained cassiterite (red-brown mineral inside
the orange ellipses).

 

 

For further information please contact:

 

Rome Resources Plc

Mark Gasson, Executive Chairman

Paul Barrett, Chief Executive 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 (jerry.keen@oak-securities.com)

Henry Clarke, Head of Sales (henry.clarke@oak-securities.com)

Tel. +44 (0)20 3973 3678

 

Camarco (Financial PR)

Gordon Poole / Emily Hall / Sam Morris

Tel. +44 (0) 20 3757 4980

 

OAK Securities is a trading name of Merlin Partners LLP. Merlin Partners LLP
is authorised and regulated by the Financial Conduct Authority (Reference
Number: 449191). Merlin Partners LLP is registered in England and Wales
(Registered Partnership Number: OC317265).

 

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 has
reviewed and approved the scientific and technical information contained in
this news release.

 

 

Glossary

 

 Diamond Core  Diamond core drilling uses a diamond cutting bit, which rotates at the end of

Drill:       a steel rod (tube) allowing for a solid column of rock to be recovered from

             the tube at the surface.

 Km:           Kilometres (Metric)

 M:            Metres (Metric)

 Sn:           The chemical element for Tin

 

Note to Editors

 

Bisie North Project

 

Rome currently holds a circa 51% beneficial interests in two exploration
permits, Permis d'Exploitation des Petites Mines PEPM13274 (a small scale
mining permit converted from PR13274) and Permis de Recherches PR15130
(exploration permit) which together cover a rectangular area of 38.43 km(2).
The project lies immediately north of Alphamin Resource Corporation's Mpama
North mine, which is the world's highest-grade tin mine, currently producing
mined material (run of mine) at an average grade of approximately 4.5% Sn and
accounting for 3% of the world's tin production (alphaminresources.com, 2024).

 

Previous exploration on the Bisie North Project included soil sampling with
complete coverage of both tenements, a single trench and diamond drilling in
2023. Two tin in soil anomalies were identified, one at Kalayi in and around
the artisanal workings and a second at Mont Agoma. At Kalayi, a single line of
4 drillholes was completed, aimed at investigating mineralisation below
artisanal workings. Significant tin mineralisation was intersected below the
high-grade tin in soil anomaly and artisanal workings. The mineralisation at
Kalayi is similar to that at Alphamin's Mpama South, 8km to the southeast,
which is predominantly within the deeper tin zone and little base metal
mineralisation.

 

Fifteen diamond drillholes were completed at Mont Agoma where a 250m wide
sulphide zone of high grade copper, tin, zinc and silver was identified over
300m of the high grade tin in soil anomaly (>500ppm Sn). Significant widths
of tin mineralisation were intersected at depth which supports a
mineralisation model similar to that at San Rafael in Peru in which high grade
tin mineralisation is expected at deeper levels.

 

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