REG - Rome Resources PLC - Rome Intersects Significant Tin Mineralisation

Rome ResourcesAnnouncement

28/08/2024 07:00

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RNS Number : 8977B  Rome Resources PLC  28 August 2024

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.

 

28 August 2024

 

Rome Resources Plc

("Rome" or the "Company")

 

Rome Intersects Significant Tin Mineralisation

 

Rome Resources Plc (AIM: RMR) is pleased to provide an update on its latest
diamond core drilling operations on its Kalayi prospect ("Kalayi") located in
the North Kivu province in the Democratic Republic of Congo (the "DRC") which,
together with the Mont Agoma prospect and the Mont Agoma Northwest prospect,
comprise the "Bisie North Projects" (the "Project").

 

Highlights

 

·      The second drillhole in the current campaign, KBDD006 (in
progress at 73m), has intersected a significant tin mineralised, highly
weathered alteration zone at the Kalayi Prospect.

·      KBDD006 targeted the subsurface continuation of mineralisation
identified in surface trench KBTT001, situated 100m to the NW of previous
drilling.

·      The mineralised zone was intersected between 29m and 52m
underneath the trench within a dark brown alteration zone with prominent
quartz veining and associated cassiterite (tin oxide).

·      Tin mineralisation was also identified from Niton XRF portable
analyser readings in several areas of intense alteration within the zone of
interest, presumed to be weathered chlorite.

·      The next drillhole will be situated where a cassiterite vein was
encountered while clearing the drill pad 100m to the NW of KBDD006.

·      Mobilisation of the second and third drill rigs to site ongoing
and expected to be completed by the end of this week or early next week.

 

 

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

 

"We are delighted to see such a significant intersection of mineralisation so
early in the drilling campaign, confirmed from drillsite analysis as
tin-bearing. More importantly, this mineralisation is present from surface and
given the management's experience at Alphamin's neighbouring Bisie Tin
Project, it is expected to continue to considerable depths. We will continue
to build on this success with the forward campaign and look forward very much
to informing shareholders of the quantitative assay results when available."

 

Further details

 

Drilling has intersected a significant mineralised shear zone where all
previous sedimentary structure has been obliterated by intense chlorite
alteration which has weathered to a dark brown colour as observed extensively
in the core and shown in Figure 1. Quartz veining and shearing with associated
cassiterite (tin oxide) mineralisation was observed throughout the alteration
zone. Visible indications of dark-coloured tin mineralisation is only possible
in the white to light grey quartz veining.  However, the presence of tin
mineralisation in the dark brown shear zone is indicated by Niton XRF portable
analyser readings which suggest that tin mineralisation can be expected across
the full 23 metre intersection.

 

The drill core will now be logged and sampled with half core samples being
submitted to the COAL Laboratory in Lubumbashi, DRC, for sample preparation
from which a 100g sample will be sent to ALS Global in Johannesburg, South
Africa, for analysis.

 

Mobilisation of the second and third drill rigs has now commenced, and
drilling is expected to resume in the coming days with the third drillhole in
the campaign.

 

 

Figure 1: Drill core at the Kalayi Prospect showing strong weathered chlorite
alteration (dark brown) and quartz veining. Visible cassiterite (tin oxide)
observed on vein contacts.

 

 

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

 

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.

 

 

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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