REG - Rome Resources PLC - Update in relation to drilling operations

Rome ResourcesAnnouncement

15/10/2024 07:00

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RNS Number : 1379I  Rome Resources PLC  15 October 2024

 

15 October 2024

 

Rome Resources Plc

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

 

Update in relation to drilling operations

 

Rome Resources (AIM: RMR), the DRC-focused tin explorer, provides the
following update on its current drilling operations at the Kalayi Prospect
("Kalayi") and the Mont Agoma Prospect ("Mont Agoma") located in the North
Kivu province in the Democratic Republic of Congo (the "DRC") which, together
with the Mont Agoma Northwest prospect, comprise the "Bisie North Projects"
(the "Project").

 

As of 13(th) October 2024, a total of 1,336 metres ("m") of drilling has taken
place, 1,001m on Kalayi and 335m on Mont Agoma. In this current campaign,
there are seven completed holes on Kalayi and one on Mont Agoma with three
drill rigs currently drilling across the Project. A fourth drill rig is
currently in the process of being mobilised to Mont Agoma by helicopter from
our base at Osokare, 40 kilometres ("km") from the Project site. This fourth
drill rig is expected to commence drilling at Mont Agoma shortly.

 

In addition to the increased drilling capacity from the fourth drill rig, Rome
Resources is expecting the drilling production to increase going forward as
drilling starts to target areas below the tropical weathering profile. The
arrival of more hard quarry ("HQ") drill rods is anticipated to result in
reduced standing time and therefore greater drilling efficiency at Kalayi,
where two drill rigs are currently located.

 

The first batch of diamond core samples have been prepared for export at
COAL's (Congolese Analytical Laboratory; ALS partner) sample preparation
facility in Lubumbashi, southern DRC and sample pulps are now ready for export
to ALS Laboratories in Johannesburg. Results are expected later this month. In
addition, it is anticipated that by mid-this week the next batch of samples
from Mont Agoma and Kalayi will be ready for transport from the Project site.

 

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

 

"I am very pleased with overall drilling progress and the team's
professionalism on the ground, evident from a management site visit earlier in
the month. The team are pushing ahead as fast as possible, with each drill
hole so far showing promise on both the tin front and, notably in Mont Agoma,
on the copper front as well."

 

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 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

 

 

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)

 Sn:           The chemical element for Tin

 

 

 

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