REG - Rome Resources PLC - Promising Copper-Tin Mineralisation at Mont Agoma

Rome ResourcesAnnouncement

22/10/2024 07:00

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RNS Number : 0329J  Rome Resources PLC  22 October 2024

 

22 October 2024

 

Rome Resources Plc

("Rome Resources", the "Company" or the "Group")

 

Promising Copper-Tin Mineralisation at Mont Agoma

 

Rome Resources PLC (AIM: RMR), the DRC-focused tin explorer, is pleased to
provide an update on drilling progress at the Mont Agoma Prospect ("Mont
Agoma"), Rome Resource's polymetallic tin-copper-zinc prospect located in the
North Kivu province in the Democratic Republic of Congo (the "DRC"), which,
together with the Kalayi Prospect ("Kalayi") and the Mont Agoma Northwest
prospect, comprise the "Bisie North Projects" (the "Project").

 

The ongoing drilling campaign follows the success of the outstanding MADD10A
hole, which intersected significant high-grade copper, zinc, silver with tin
mineralisation, further highlighting the Mont Agoma prospect's considerable
potential. Drilling progress is highlighted below.

 

Highlights

·    MADD016: Terminated early due to stuck rods at 46 metres but entered
the tin zone.

·   MADD016A: Successfully redrilled to 242.5m; encountering a 67m wide
tin, copper and zinc  zone between at 47m and 113m. Copper mineralisation was
present in discrete intervals within this tin-polymetallic zone and
additionally in several intervals below the tin zone to 220m.

·    MADD017: Drilling at 143m depth currently in the tin, copper and zinc
zone, have encountered several tin-bearing intervals with a concentration of
cassiterite (tin) veins between 117m and 140m. A notable copper zone was
encountered between 98m and 113m.

·    MADD018 is drilling above the anticipated mineralised zone at 27m.

·    Drill samples flowing to ALS Johannesburg, drill site core
assessments are highly promising.

 

The Company is pleased to report that two drill rigs remain operational at
Mont Agoma and holes MADD016 and MADD016A have been completed, MADD017 is
drilling within the mineralised zone, and MADD018 is advancing through the
top-hole section. Promising tin, copper and zinc indications have been
identified in MADD016A and MADD017, with on-site Niton XRF portable analyser
readings suggesting non-visible disseminated mineralisation.

 

Current indications are that there is a significant increase in widths of tin
mineralisation in the southeasternmost holes along strike and at depth. Grades
will be confirmed in laboratory analyses.

 

Separately, drilling at Kalayi is ongoing and a further announcement will be
made in due course.

 

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

"Drilling continues apace at both Kalayi and Mont Agoma.  The flow of samples
for assay reporting is continuing, with the first batch now at ALS
Johannesburg.  Initial assessments from the cores continue to be very
promising, in terms of both tin and copper indications and we look forward to
being able to update the market as soon as laboratory analyses become
available.

 

We are encouraged by what appears to be a marked increase in tin
mineralisation as drilling progresses towards the southeast and at deeper
levels. The directors of Rome Resources believe that the strong association of
tin and copper mineralisation further supports our analogy with San Rafael in
Peru which commenced operations as a copper mine before passing through a
transition zone of tin and copper.

 

We see ourselves within a similar transition zone and given the extent of the
broad zone of sulphide mineralisation, believe we have significant discovery
potential."

 

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

 

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.

 

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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