REG - Rome Resources PLC - Further Update Regarding Drilling Operations

Rome ResourcesAnnouncement

05/09/2024 07:00

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RNS Number : 9708C  Rome Resources PLC  05 September 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 September 2024

 

Rome Resources Plc

("Rome" or the "Company")

 

Further update regarding Rome's Drilling Operations

 

Rome Resources Plc (AIM: RMR) is pleased to advise that two diamond core drill
rigs ("drill rigs") are currently operational at its Kalayi prospect
("Kalayi") and one drill rig is operational at its Mont Agoma prospect ("Mont
Agoma") located in the North Kivu province in the Democratic Republic of Congo
(the "DRC") which, together with the Mont Agoma Northwest prospect, comprise
the "Bisie North Projects" (the "Project").

 

Highlights

 

·      The third drillhole in the current campaign, KBDD007, is in
progress at 103m at the Kalayi Prospect.

·      The second drill rig at Kalayi was collared on the same drill
line as KBDD006 in which an impressive tin zone was announced on 27 August
2024 and will target the zone roughly 50m below the initial mineralised
intersection.

·    The third drill rig was collared to the southeast of previous
drilling at Mont Agoma and will target anomalous tin mineralisation
intersected previously in the top 50m of MADD009  and the copper/tin/silver
zone at deeper levels.

·    Rome will provide regular updates as to progress on its aggressive
drilling programme, targeting a resource mineral estimate by the start of
2025.

 

 

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

 

"We are really pleased with the ongoing progress of our drilling campaign at
Bisie North, now poised to accelerate further. The positive results we are
receiving support the initial work undertaken at the Project which indicated
it has the potential to be an exciting, high-grade tin deposit. With demand
for tin increasing, and disruption continuing at some of the world's largest
suppliers, Bisie North could be a key element to filling the anticipated
supply shortfall of this critical metal."

 

 

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 as well as
under the AIM Note for Mining, Oil and Gas Companies - June 2009 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)

 Niton XRF:    A portable x-ray fluorescence analyser

 Sn:           The chemical element for Tin

 

 

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