REG - Rome Resources PLC - Kalayi Continuity of Tin Mineralisation Confirmed

Rome ResourcesAnnouncement

30/01/2025 07:00

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RNS Number : 1898V  Rome Resources PLC  30 January 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.

 

30 January 2025

 

Rome Resources Plc

("Rome" or the "Company")

 

Continuity of Tin Mineralisation Confirmed at Kalayi

 

Rome Resources Plc (AIM: RMR), the DRC-focused tin explorer, announces further
results from 10 of 17 diamond core drill holes at its Kalayi tin prospect
located in North Kivu, the Democratic Republic of Congo (the "DRC"). These
assays confirm continuous tin mineralisation across multiple sub-parallel ore
shoots, supporting the Company's geological model and highlights the growing
scale of the deposit.

 

Two additional holes (one deep hole in progress) will complete the initial
diamond drilling programme at Kalayi, paving the way for a proposed maiden
inferred mineral resource estimate, expected in the first quarter ("Q1") of
2025 once all results have been received. Drilling to date has covered only
30% of the 2,000m in situ tin-in-soil anomaly with mineralisation starting
from surface, remaining open at depths exceeding 150m.

 

Assay Highlights

 

·    KBDD009: 5.5m at 0.89% Sn from 102.5m including 2.4m at 1.39% Sn from
105.6m;

·    KBDD010: 0.9m at 1.28% Sn from 137.5m;

·    KBDD014: 2.85m at 0.45% Sn from 24.6m and 3.9m at 0.38% Sn from
32.09m including 2.27m at 0.51% Sn from 33.0m in.

 

Encouragingly, KBDD016 has delivered the best visual tin intersection to date,
where a 10m wide cassiterite bearing zone was identified at one of the deepest
levels drilled to date. This reinforces the Company's zonation model that tin
mineralisation strengthens towards the granite source. Deeper drilling is now
targeting these higher-grade extensions, with results expected from KBDD016 in
Q1 2025.

 

Current hole KBDD018, shown in Figure 1, is targeting the zone roughly 80m
below the 10m wide zone seen in KBDD016 as it is anticipated that the grade
will increase at depth.

 

With tin currently trading at ~US$30,000/t, these results indicate
the potential for economic mineralisation, particularly if drilling defines
high-grade zones at depth.

 

Exploration Update & Forward Plan

 

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

·     Additional assay results are pending from MADD018 at Mont Agoma,
which intersected >100m of visible copper mineralisation.

·    Drilling continues at both Kalayi and Mont Agoma, with a focus on
extending known tin zones and advancing towards a proposed maiden inferred
mineral resource estimate in Q1 2025.

·     Ongoing deeper drilling aims to validate the zonation model seen at
world-class tin mines, including Alphamin, where tin grades have strengthened
with depth and Rome will continue testing mineralisation at comparable depths.

·      Operations and on-site activities continue to remain unaffected
by the unrest in the city of Goma.

 

Paul Barrett, Chief Executive Officer of Rome Resources Plc, commented:
''These latest results from Kalayi build on the success of our last drilling
campaign, reinforcing our confidence in Kalayi's growing scale, with
mineralisation now confirmed across multiple zones and improving as we drill
deeper towards the granite source. The large 10m cassiterite intersection from
KBDD016 at depth is particularly exciting, and we look forward to receiving
assays from this key zone shortly as well as MADD018 from Mont Agoma where
over 100m of visible copper mineralisation was observed."

 

"It is becoming increasingly clear that we are unlocking a simple, open
pittable, high-grade tin resource which, due to the pinch and swell geometry,
indicates that there is potential for even greater widths of high-grade
mineralisation both at depth and along strike."

 

"We are continuing to accelerate the drilling programme at both Kalayi and
Mont Agoma concurrently, with a combined total of 3,735m drilled at present.
We look forward to updating the market as we receive more assay results and
build a clearer picture of these exciting resources. Our targeted maiden
inferred mineral resource estimate in Q1 2025 will be a major milestone,
further defining the potential of this emerging tin asset.''

 

Operations Update

 

Drilling operations are continuing at both Kalayi and Mont Agoma, with a
combined total of 3,735m drilled as of 26 January 2025. Currently, two drill
rigs are operational at Mont Agoma, with one active at Kalayi, while a fourth
drill rig is waiting for an engine replacement.

 

At Kalayi, a total of 2,020m of diamond core drilling has been completed from
18 holes (KBDD018 in progress) with two planned drill holes remaining,
including a deep hole to assess the potential for mineralisation to strengthen
at depth. KBDD018 is targeting 80m below the best visual indications, which
will provide further insight into deeper tin mineralisation and its
relationship with the broader zonation model.

 

At Mont Agoma, five drill holes (two abandoned) have been completed for
1,358m; three drill holes are ongoing and six planned drill holes remain
during the current programme. The mineralisation remains open to the north,
south and at depth, aligning with the Company's broader strategy to test for
continuity at deeper levels.

 

Further to the Company's announcement on 27 January 2025, the Company confirms
that its operations and on-site activities continue to remain unaffected by
the unrest in the city of Goma. In any event, the board of directors of Rome
believe that the remote proximity of Rome's projects as well as the limited
infrastructure surrounding the projects positions the Company well in the
event that the unrest in the City of Goma develops further.

 

The Company has moved helicopter operations to the southern end of lake Kivu
and has arranged for crew changing to take place from Bukavu Airport. A
specialist driller is en route to the site to assess the quality of the
Company's drilling equipment and implementing measures with the view to
improving efficiency, enabling continuous drilling going forward with the four
rigs on-site.

 

Background information

 

Kalayi

All results at Kalayi to date are summarised in Table 1. Drilling at Kalayi
has covered 600m of potential geological strike, confirming that tin
mineralisation is confined to a series of sub-parallel en echelon ore shoots
within strongly chlorite altered shear zones.  These zones demonstrate a
strong pinch and swell geometry both along strike and downdip as illustrated
in Figure 1 and in section in Figure 2.

 

Notably, tin mineralisation exposed at surface above KBDD007 and KBDD008 was
not intersected in either drill hole due to faulting. KBDD018, currently in
progress, is targeting tin mineralisation 80m below the best visual
indications, marking one of the deepest intercepts to date to assess the
potential for mineralisation to increase at deeper levels. This hole will
assess the potential for increasing tin grades at depth,  similar to
Alphamin's Mpama South where tin grades showed a strong increase at deeper
averaging approximately 2% tin.

 

Visual and reported results to date over a limited 600m strike length
reinforce the prospect that Kalayi  has significant potential to host tin
mineralisation from surface to depths exceeding 150m. Soil sampling along
topographic ridges suggests that mineralisation may extend to a total length
of over 2,000m of strike as shown in Figure 1.

 

Samples from KBDD016 are in the process of being sent to Lubumbashi for sample
preparation prior to onward transportation to Johannesburg. Results for the
bulk of the Kalayi drilling programme are expected in Q1 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

 

 

 

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

 

 BHID     From     To       Width    Sn%
 KBDD001  53,00    54,00    1,00     0,17
 KBDD002  31,20    32,00    0,80     1,32
          79,00    81,50    2,50     2,60
 incl.    80,00    80,50    0,50     7,15
 KBDD003  40,50    52,50    12,00    1,06
 incl.    43,50    44,50    1,00     2,78
 and      50,00    52,50    2,50     3,39
 incl.    51,50    52,00    0,50     11,70
          59,00    60,00    1,00     1,11
          70,70    73,00    2,30     1,92
 incl.    70,70    71,10    0,40     12,85
 KBDD004  No Significant Interepts
 KBDD005  87,00    87,60    0,60     4,05
          111,90   112,50   0,60     3,05
 KBDD006  31,50    38,00    6,50     1,03
 incl.    35,50    36,00    0,50     4,25
 and      37,50    38,00    0,50     3,01
 KBDD007  No Significant Interepts
 KBDD008  No Significant Interepts
 KBDD009  102,50   108,00   5,50     0,89
 incl.    105,60   108,00   2,40     1,39
 KBDD010  137,50   138,40   0,90     1,28
 KBDD011  33,60    34,90    1,30     0,10
          38,60    39,50    0,90     0,87
 KBDD012  141,75   142,65   0,90     0,19
          152,23   153,55   1,32     1,00
 incl.    152,63   153,07   0,44     1,80
          157,20   157,60   0,40     0,38
 KBDD013  74,30    74,78    0,48     0,27
          80,74    83,00    2,26     0,13
          92,60    93,00    0,40     0,20
 KBDD014  18,50    19,35    0,85     0,31
          24,60    27,45    2,85     0,45
 incl.    24,60    25,10    0,50     1,44
 and      26,60    27,00    0,40     1,13
          32,09    36,00    3,91     0,38
 incl.    33,00    35,27    2,27     0,51
 and      33,00    33,40    0,40     1,19
 and      34,85    35,27    0,42     1,41

 

 

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 KBDD009 to KBDD0014 which were inserted at regular intervals throughout
the samples and reported grades which were well within acceptable ranges as
per industry standard.

 

The two sample batches JB24326155 and JB24368562 consisted of 310 samples, of
these 37 were QAQC samples. Nine duplicates were inserted, 17 CRM's and 14
Blank samples were inserted, all returned acceptable 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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