REG - Rome Resources PLC - High-Grade Tin Intercepts at Kalayi

Rome ResourcesAnnouncement

25/02/2025 07:15

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RNS Number : 3511Y  Rome Resources PLC  25 February 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.

 

25 February 2025

 

Rome Resources Plc

("Rome" or the "Company")

 

High-Grade Tin Intercepts at Kalayi - Drilling Confirms Depth Potential

 

Rome Resources Plc (AIM: RMR), the DRC-focused tin explorer, announces further
assay results from two diamond core drill holes at its Kalayi tin prospect
located in North Kivu, the Democratic Republic of Congo (the "DRC"). These
results confirm the presence of high-grade tin mineralisation across multiple
sub-parallel ore shoots validating the Company's geological model and
reinforcing the potential of tin as the Company's drilling campaign moves
closer to the interpreted granitic source.

 

The Company remains focused on defining a maiden inferred mineral resource
estimate at Kalayi on its Bisie North Project, with drilling covering only 30%
of the identified 2,000m tin-in-soil anomaly. Mineralisation has been
confirmed from surface, remaining open at depths beyond 250m, with visible
cassiterite observed in the deepest hole to date (~ 220m below surface).

 

Kalayi Highlights: Expanding Potential with High-Grade Tin

 

·    KBDD015: 3.3m at 1.77% Sn from 96.85m; 5.7m at 1.35% Sn from 147.90m
(including 2.85m at 1.98% Sn); and

·    KBDD016: 9.5m at 0.60% Sn from 126.45m (including 1.7m at 1.61% Sn)

 

Key Takeaways:

 

·    Strong mineralisation continuity: Assay results confirm
a pinch-and-swell system, with tin mineralisation remaining open beyond 250m
depth.

·    Final drill holes underway: Two additional shallower holes will
complete the current drill programme.

·    Assay results from two holes remain: Assay results from the
southernmost hole and the deepest drilled to date at Kalayi are expected to
show continuity of mineralisation on strike and at depth.

·    Geological similarity to Alphamin: The system continues to show
characteristics similar to Alphamin's Mpama South deposit, with potential for
deeper high-grade mineralised zones.

·    Depth extension strengthens resource potential: Tin mineralisation
intercepted 80m below KBDD015 and KBDD016 is expected to materially
enhance the resource potential, significantly expanding the known mineralised
system.

·    Tin market strength: With tin prices nearing ~US$34,000/t, these
intercepts highlight the potential for economic mineralisation, particularly
as drilling extends deeper.

 

The drill rig at Kalayi was mobilised to Mont Agoma to improve productivity
where adverse drilling conditions have resulted in delays to completing the
initial Mont Agoma programme. The rig will be returned to Kalayi in due course
to complete the remaining holes, ensuring the partial extent of the tin
system is captured in the upcoming maiden inferred resource estimate.

 

Exploration Update & Forward Plan

 

·      Rome remains fully funded for its current programme following
its £4.2 million strategic investment from Stanvic Mining, enabling
an accelerated exploration programme in 2025.

·      Assay results from MADD018 at Mont Agoma, which intersected
over 100m of visible copper mineralisation, are expected to be available
shortly. This will be a critical test for the potential scale of copper
mineralisation associated with the 2,000m copper in soil anomaly.

·      Drilling continues at both Kalayi and Mont Agoma, with a focus
on extending high-grade tin zones and advancing towards a maiden inferred
mineral resource estimate.

·      Ongoing deeper drilling is testing the mineralisation zonation
model, seen in world-class tin mines such as Alphamin's Mpama deposits and
San Rafael in Peru, where grades have strengthened significantly at depth.

·      Drill results at Kalayi confirm economic-grade tin
mineralisation and support the potential for open-pit development, with
mineralisation now confirmed across multiple zones.

 

Operations remain unaffected by unrest in Goma and Bukavu. The Company has
proactively relocated its logistical base to Kisangani, ensuring full
operational capacity and continuity of exploration. The remote proximity of
Rome's projects as well as the limited infrastructure surrounding the projects
reduces the Company's exposure to regional unrest.

 

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

 

"With tin trading at near-record levels of ~US$34,000/t, our latest results
further reinforce Kalayi's economic potential. These new results build on our
confidence in the project's growing scale and the continuity of high-grade tin
mineralisation at depth. We now have clear evidence of a strong system
extending across multiple zones, improving widths and grades as we drill
deeper towards the granite source."

 

"With over 4,135m drilled to date, we are moving rapidly towards defining our
maiden inferred mineral resource estimate, which will be a major step in
demonstrating the full potential of this emerging tin asset. The combination
of high tin grades, growing scale, and Rome's strategic positioning within one
of the world's most prospective tin belts places us in a strong position to
unlock further shareholder value."

 

 

Discussion of Results at Kalayi

 

Results for KBDD015 and KBDD016 are summarised in Table 1 and shown in Figures
1 and 2. Notably, KBDD018, which targeted the mineralised zone 80m below
KBDD016 (as shown in section in Figure 2) has confirmed the continuation of
tin mineralisation at depths exceeding 250m below surface. This is a
significant finding, as the bulk of the resource at neighbouring Mpama South
is below these levels. Similarly, grades and widths at Kalayi may strengthen
as drilling advances toward the interpreted underlying granitic source.

 

The confirmation of tin mineralisation 80m below KBDD015 and KBDD016
significantly expands the known mineralised system at Kalayi. This depth
extension is expected to materially enhance the resource potential,
reinforcing the geological model and supporting further growth as drilling
continues.

 

Both KBDD015 and KBDD016 reported narrow , high-grade intercepts exceeding 3%
tin within the broader zone of mineralisation, reinforcing the potential for a
nearby significant mineralised system at Kalayi. The system remains open for
further drilling, with additional results expected to provide greater insight
into the deposit's full scale.

 

Samples from remaining holes, KBDD017A and KBDD018 will be sent from Kisangani
to Lubumbashi for sample preparation prior to onward transportation to
Johannesburg. Results for the bulk of the Kalayi drilling programme are
expected in the first quarter of 2025 contributing to the proposed maiden
inferred mineral resource estimate.

 

Figure 1.  Completed and Planned Holes at Kalayi on the 2,000m tin in soil
anomaly

 

 

Figure 2: Section with Drill Intercepts across KBDD015 and KBDD016

 

Table 1: Significant Tin Intercepts at Kalayi (0.1% cut-off grade for Sn; 3m
internal dilution)

    BHID    From    To      Width  Sn%
 KBDD015    96,85   100,15  3,30   1,77
            147,90  153,00  5,10   1,35
 KBDD016    126,45  136,00  9,55   0,60
            140,90  141,50  0,60   1,28

 

For further information please contact:

 

Rome Resources Plc

Paul Barrett, Chief Executive Officer

Mark Gasson, Chief Operating 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)

Emily Hall / Gordon Poole / 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 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.

 

Dr Vermaakt is satisfied that the results returned for the QAQC samples for
holes KBDD015 and KBDD0016 which were inserted at regular intervals throughout
the samples and reported grades which were well within acceptable ranges as
per industry standard.

 

The one sample batch consisted of 193 samples, of these 25 was QAQC samples.
Five duplicates were inserted, 12 CRM's and 8 Blank samples were inserted, all
returned acceptable industry results.

 

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

 

 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

 en echelon:   Parallel or subparallel, closely-spaced, overlapping, or step-like structural

             features in rock

 Km:           Kilometres (Metric)

 M:            Metres (Metric)

 Niton XRF:    A portable x-ray fluorescence analyser

 Gossan:       A generally hard oxidised surface zone of an ore body

 Sn:           The chemical element for tin

 Ore Shoot:    An ore shoot is a mineralised mass that is deposited in veins within a
               planar channel or lode, found in a shear or fault zone, fissure or lithologic
               boundary

 

 

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