Further Update Regarding Drilling Operations

Rome Resources PLC

05 September 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.

5 September 2024

Rome Resources Plc

("Rome" or the "Company")

Further update regarding Rome's Drilling Operations

Rome Resources Plc (AIM: RMR) is pleased to advise that two diamond core drill rigs ("drill rigs") are currently operational at its Kalayi prospect ("Kalayi") and one drill rig is operational at its 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").

Highlights

·      The third drillhole in the current campaign, KBDD007, is in progress at 103m at the Kalayi Prospect.

·      The second drill rig at Kalayi was collared on the same drill line as KBDD006 in which an impressive tin zone was announced on 27 August 2024 and will target the zone roughly 50m below the initial mineralised intersection.

·    The third drill rig was collared to the southeast of previous drilling at Mont Agoma and will target anomalous tin mineralisation intersected previously in the top 50m of MADD009  and the copper/tin/silver zone at deeper levels.

·    Rome will provide regular updates as to progress on its aggressive drilling programme, targeting a resource mineral estimate by the start of 2025.

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

"We are really pleased with the ongoing progress of our drilling campaign at Bisie North, now poised to accelerate further. The positive results we are receiving support the initial work undertaken at the Project which indicated it has the potential to be an exciting, high-grade tin deposit. With demand for tin increasing, and disruption continuing at some of the world's largest suppliers, Bisie North could be a key element to filling the anticipated supply shortfall of this critical metal."

For further information please contact:

Rome Resources Plc

Mark Gasson, Executive Chairman

Paul Barrett, Chief Executive Officer

Tel. [phone]

Allenby Capital Limited (Nominated Adviser and Joint Broker)

John Depasquale / Vivek Bhardwaj / Lauren Wright (Corporate Finance)

Stefano Aquilino / Joscelin Pinnington (Sales & Corporate Broking)

Tel. [phone]

OAK Securities (Joint Broker)

Jerry Keen, Head of Corporate Broking ([e-mail])

Henry Clarke, Head of Sales ([e-mail])

Tel. [phone]

Camarco (Financial PR)

Gordon Poole / Emily Hall / Sam Morris

Tel. [phone]

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 as well as under the AIM Note for Mining, Oil and Gas Companies - June 2009 and has reviewed and approved the scientific and technical information contained in this news release.

Glossary 

Diamond Core Drill:	Diamond core drilling uses a diamond cutting bit, which rotates at the end of 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

 

END