REG - Rome Resources PLC - Operational and Resource Update

Rome ResourcesAnnouncement

26/06/2025 12:15

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RNS Number : 5878O  Rome Resources PLC  26 June 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.

 

26 June 2025

 

Rome Resources PLC

("Rome" or the "Company")

 

Operational and Resource Update - Bisie North Project

 

Rome Resources plc, the DRC-focused tin and copper explorer, provides the
following update on its exploration activities and forward planning at its
Bisie North Project, located in the eastern DRC.

 

Highlights

 

·      Rome expects to complete the current drill programme by the end
of July 2025 with the Company's contracted helicopter to be released for
mandatory maintenance

·      Initial report suggests substantial copper, zinc and silver
volumes at the Bisie North Project. However, this requires further modelling
and analysis to quantify the commerciality of a combined operation with tin,
copper and zinc recovery

·      The assay database used in the current underlying maiden mineral
resource estimate ("MRE") work does not include the more recent drill holes
which management believes to exhibit more promising tin and copper volumes in
both deeper and additional zones

·      Metallurgical analysis in Canada is expected to feed into the
polymetallic processing flowsheet that will recover tin, copper and zinc from
Mont Agoma

·      Management to shift its immediate priority away from delivering a
maiden MRE centred around tin mineralisation at Kalayi and Mont Agoma by end
of June 2025 and instead allow for the further assessment of the copper and
zinc mineralisation potential to be reported by MSA on or around September
2025

·      Revised maiden MRE strategy allows for the potential to establish
a multi-commodity value stream proposition at the Bisie North Project

 

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

"We continue to make good progress at the Bisie North Project. The scale and
quality of mineralisation across tin, copper, and zinc is becoming
increasingly apparent - and we are only just beginning to test the deeper
parts of the system as well as the new tin zone previously reported.

 

The decision to include both the more recent core assays in the maiden MRE and
assess the commercial potential of the other commodities present, will give
Rome a comprehensive maiden MRE on or around September 2025 rather than a
partial picture. The Bisie North Project is shaping up to be a highly
strategic, multi-commodity asset in a region of growing global interest."

 

Drilling Operations

 

Helicopter transportation support is currently unavailable to the Company due
to technical issues related to the mechanical operation of the Company's
contracted helicopter. As a consequence, operations at the Bisie North Project
have primarily been concentrated at drill holes MADD030A and MADD031 with two
drill rigs operating and the third drill rig in the midst of mobilisation.

 

Noting that the Company's contracted helicopter is due for a major service
before November 2025, Rome's management has concluded that it is more
appropriate for the Company to release the helicopter in the near-term for
servicing in Uganda rather than interrupt any later operations.

 

Management anticipates that work in relation to drill holes MADD030A, MADD031
as well as additional drill hole MADD032 (planned to follow up on the recent
new tin mineralisation at depth) will be completed before the contracted
helicopter departs for maintenance.

 

Mineralisation Indications

 

We are pleased to report that drill core from completed drilled holes MADD025,
MADD027, MADD028, MADD029 and MADD030 have been cut and sampled. These drill
cores are currently in transit to the laboratories in Lubumbashi and
Johannesburg for sample preparation and assay respectively. Early analysis
from the Company's Niton XRF portable ("XRF") analyser on MADD027 and MADD028
holes have shown significant propensity for tin, copper and zinc
mineralisation. Visual and field XRF readings have confirmed similar
observations on the remaining drill holes.

 

XRF drill core analysis was conducted on drill holes MADD027 and MADD028 in
which tin mineralisation was identified over 42m and 54m respectively. The
highest tin grade reported in MADD027 was ~4% tin over 40cm within a broader
6m zone of approximately ~1% Sn. Drill hole MADD028 was generally of a
slightly lower tenor but reported a maximum of ~2% tin over 50cm. Drilling to
date has shown an increase in copper to the northwest. Narrow zones of copper
up to ~4.5% Cu were reported from both holes although a highly significant
copper intersection was observed over 48m in MADD029 drilled to the northwest
of the two holes. In addition to the copper the XRF analysis have defined
highly significant zinc intersections from both drill holes with MADD028
reporting an impressive 12m zone of ~13% Zn within a broader 61m zone. A 13m
zone of ~8% zinc within a broader 42m wide zinc zone was identified in drill
hole MADD027.  On site sampling and XRF analysis is yet to be carried out on
MADD025 and MADD029.

 

Both drill holes support the Company's model in which tin grades are expected
to increase at depth and to the northwest. The new mineralisation zones
reported recently is highly significant as tin was reported from surface over
more than 30m and could potentially add significant tin resources from further
drilling. The true thickness of the new zone will be confirmed in drill hole
MADD032 which will target the zone at a deeper level.

 

While on-site drill core sampling from a channel cut along the core axis was
conducted and analysed using the XRF analyser, these results are not certified
although normal Niton XRF standard Quality Assurance Quality Control
procedures were followed. In this regard, the XRF analyser results are subject
to further underlying laboratory analysis and therefore may change.
Accordingly, at this stage, such results should only be regarded as
semi-quantitative and indicative of the potential extent of the tin, copper or
zinc zones as well as an indication of potential grade.

 

Maiden mineral resource estimate

 

MSA have been undertaking the work required in relation to the Company's
maiden MRE for Kalayi and Mont Agoma.  The Kalayi tin work is near
completion.  The findings at Mont Agoma, however, are taking some additional
time to finalise, there being highly significant copper tonnage assessed in
the shallow section which has required further work to quantify the
commerciality of a combined operation with both tin, copper and zinc
recovery.  The amount of copper is believed by management to be substantial
and at shallow depths, potentially adding a further attractive layer of value
to the project. In addition, management have received indications suggesting
large amounts of zinc have been identified which also has the potential for a
third value stream.

 

The current planned maiden MRE assessment is restricted to those drill holes
with official assays at the time of the assessment, in this case being up to
and including MADD026. As a consequence, finalising the assessment at this
stage will exclude the promising values in the subsequent drill holes, as
described above, for all of tin, copper and zinc and could lead to an
underestimate of potential.

 

Without pre-judging the results, the board of directors of Rome Resources (the
"Board" or the "Directors") are confident that the strategy to drill deeper
and to the northeast into the new zone identified in drill hole MADD030, will
deliver the critical additional information for a more accurate assessment of
resource potential at Mont Agoma.

 

Forward Plan

 

Rome anticipates the current drilling campaign to be complete by the end of
July 2025. In parallel, samples will be prepared and dispatched to the assay
laboratory and this work is anticipated to be complete by the end of August
2025.  In the meantime, MSA are expected to undertake further assessment of
the copper and zinc mineralisation potential and are now expected to be in a
position to deliver a maiden MRE report based on all the drill data available
on or around mid-September 2025.

 

Metallurgical samples are en route to Canada for testing to assist in the
evaluation of a multi-commodity value stream at the Bisie North Project . In
parallel, samples have been selected from holes MADD016 and MADD017 and will
be assayed for germanium which is not included in the current multi-element
suite in the laboratory. Germanium is a high value commodity which is
associated sphalerite (zinc mineral) and given the high grades of zinc there
is a strong possibility of identifying an association of germanium with
sphalerite.

 

The Company anticipates, therefore, to be able to report a maiden MRE for tin,
copper and zinc along with a strategic update for the further value build for
the project, on or around mid-September 2025.

 

 

For further information, please contact:

 Investor questions on this announcement                                https://romeresources.com/s/5b5af1 (https://romeresources.com/s/5b5af1)

 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)

 Joscelin Pinnington (Sales & Corporate Broking)

 OAK Securities (Joint Broker)                                           Tel. +44 (0)20 3973 3678

 Jerry Keen, Head of Corporate Broking

 Henry Clarke, Head of Sales
 Camarco (Financial PR)                                                   Tel. +44 (0)20 3757 4980

 Emily Hall / Gordon Poole / Sam Morris

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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.

 

 

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.

 

 Cm:            Centimetre (Metric)

 Cu:            The chemical element for copper

 Km:            Kilometres (Metric)

 m:             Metres (Metric)

 XRF analyser:  A portable x-ray fluorescence analyser

 Sn:            The chemical element for tin

 Zn:            The chemical element for zinc

 

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