REG - Rome Resources PLC - Operations Update

Rome ResourcesAnnouncement

24/04/2025 07:02

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RNS Number : 9310F  Rome Resources PLC  24 April 2025

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24 April 2025

Rome Resources PLC

("Rome" or the "Company")

 

Operations Update

 

Rome Resources Plc (AIM: RMR), the DRC-focused tin and base metals explorer,
provides an operations update following the temporary shutdown of drilling
operations at its Bisie North Project due to the security situation, announced
on 14 March 2025.

 

The Company is pleased to announce that it is now preparing to mobilise and
commence drilling operations within the coming 10 days. This follows the
positive news that the M23 rebel group have withdrawn from the region as well
as that operations at other projects in close proximity to Rome, including
Alphamin Resources, are now restarting. The objective of this fully funded,
additional drilling programme is to identify high grade tin at deeper levels,
in line with the Company's geological model of tin grades increasing at depth.

 

As part of its preparation to commence drilling, Rome is also now in the
process of obtaining the required permitting to mobilise the helicopter under
contract with the South African fleet provider, BAC Helicopters, from Entebbe
in Uganda to Kisangani, with the current aim for the helicopter to be on site
by 1 May 2025.

 

The temporary pause in drilling operations has allowed Rome's drilling
contractors to adequately prepare for the next phase of deeper drilling which
will commence shortly after all personnel have mobilised back to site.

 

The estimated cost of this next phase of drilling is approximately $1.6
million, comfortably within its current cash reserves of approximately $2.7
million.

 

Lastly, Rome is now expecting results for drill holes MADD024 and MADD026.
Samples from drill holes MADD024 and MADD026 were prepared at COAL
laboratories in Lubumbashi and the pulps have now been submitted to ALS Global
in Johannesburg, South Africa, where the Company has been informed to expect a
maximum of a two-week turnaround.

 

Rome intends to incorporate these results into its maiden inferred mineral
resource estimate for the Mont Agoma and Kalayi Prospects and accordingly,
this is now expected to be announced on or around mid to late May 2025.

 

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

 

"We are extremely pleased to note the news in recent weeks of the withdrawal
of M23 rebels in the region and to now be preparing to mobilise and recommence
operations at the Bisie North Project, with the upcoming drilling intended to
extend exploration at further depth, where the geological model predicts
higher grades of tin.

 

The pause in drilling operations has allowed our drilling contractors to
source all drill rig spare parts and rods and adequately prepare for the next
stage of operations, which we aim to kick off as soon as the team are back on
site. We look forward to updating the market in the coming weeks with the
drilling results from previous holes MADD024 and MADD026, which will provide
further details on the size and prospectivity of the resource."

 

 

For further information, please contact:

 

 Investor questions on this announcement                                  https://romeresources.com/s/2b8304 (https://romeresources.com/s/2b8304)

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 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)                                                                              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

 Gordon Poole / Emily Hall / Sam Morris

 

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