REG - Rome Resources PLC - Commencement of Drilling at the Kalayi Prospect

Rome ResourcesAnnouncement

05/08/2024 13:15

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RNS Number : 2248Z  Rome Resources PLC  05 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.

 

5 August 2024

 

Rome Resources Plc

("Rome" or the "Company")

 

Commencement of Drilling at the Kalayi Prospect, Bisie North Project

 

Rome Resources Plc (AIM: RMR) has commenced drilling 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".

 

In line with the Company's announcement on 30 July 2024, Mole Drilling Congo
SARLU have now completed their site establishment, local staff orientation and
have commenced drilling at the first diamond core drill hole at Kalayi. Two
additional diamond core drill rigs will now be mobilised to additional
identified drill sites, one at Kalayi and one at Mont Agoma where drilling is
expected to commence within the next two weeks.

 

The drilling programme will be fine-tuned as results are received and is
expected to complete early in the fourth quarter of 2024 with all results and
a potential mineral resource estimate reported before year end.

 

Drilling Programme at Kalayi

 

The initial planned resource drilling programme at Kalayi is comprised of up
to 12 diamond core drill holes which will test mineralisation at two levels
roughly 50m apart over 700m of the core high grade tin in soil anomaly
(>80ppm Sn) at Kalayi. Two holes will be drilled on each section spaced
roughly 100m apart. Drilling is expected to define tin mineralisation down to
depths exceeding 100m below surface.

 

An initial 4 drill holes were completed previously at Kalayi where significant
tin mineralisation intersected two holes and included:

 

KBDD002:        2.5 m at 2.6% Sn from 79.0m including 1m at 4.68% Sn
from 79m

KBDD003:        12.5 m at 1.05% Sn from 40.5m including 1m at 7.21% Sn
from 51.5m

KBDD003:        3.0 m at 1.92% Sn from 70.0m

 

The first hole is targeting the tin zone 50m below the high grade intercept in
KBDD003. All completed and planned drill holes are shown in Figure 1 (below).

 

 

Figure 1: Kalayi tin in soil anomaly, significant drillhole intersections and
current and planned drill holes (plan view). Note the central high grade tin
in soil anomaly (>81ppm Sn) which covers 700m of the 2km tin anomaly.

 

A narrow cassiterite vein, confirmed by hand-held X-Ray Fluorescence ("XRF")
analyser, was exposed during pad clearing of the first drill pad of this
campaign (KBPC003) confirming mineralisation is open to the northwest.

 

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

 

"We are extremely pleased to have reached this milestone so soon after
admission, demonstrating the Rome team's ability to execute operations in the
DRC.  The Kalayi prospect has already yielded grades of up to 7.2% tin in
previous shallow drilling and has striking similarities with Alphamin's nearby
Mpama South Mine, where tin grades increase with depth. We look forward to
regularly updating the market as this work progresses."

 

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)

 Ppm:          Parts-per-million (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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