REG - Rome Resources PLC - Drilling & Operations Update

Rome ResourcesAnnouncement

14/03/2025 07:00

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RNS Number : 6527A  Rome Resources PLC  14 March 2025

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                                          https://romeresources.com/link/5Pmg6e (https://romeresources.com/link/5Pmg6e)

 We encourage all investors to share questions on this announcement via our
 investor hub
 Rome Resources Plc                                                               Tel. +44 (0)20 3143 6748

 Paul Barrett, Chief Executive Officer

 Mark Gasson, Chief Operating Officer

 Allenby Capital Limited (Nominated Adviser and Joint Broker)                     Tel. +44 (0)20 3328 5656

 John Depasquale / Vivek Bhardwaj / Lauren Wright (Corporate Finance)

 Stefano Aquilino / Joscelin Pinnington (Sales & Corporate Broking)

 OAK Securities (Joint Broker)                                                    email: jerry.keen@oak-securities.com

 Jerry Keen, Head of Corporate Broking                                            email: henry.clarke@oak-securities.com

 Henry Clarke, Head of Sales                                                      Tel. +44 (0)20 3973 3678

 Camarco (Financial PR)                                                           Tel. +44 (0) 20 3757 4980

 Gordon Poole / Emily Hall / Sam Morris

Subscribe to our news alert service: https://romeresources.com/auth/signup
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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

 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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