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."
![A close-up of a pipe Description automatically generated](https://dw6uz0omxro53.cloudfront.net/0/8f6f4bf8-50a0-4907-bd3b-4086ca09da88.jpg)
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
Drill:
|
Diamond core drilling uses a diamond
cutting bit, which rotates at the end of 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 km2. 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.