Mobilisation of Diamond Core Drill Rigs

Rome Resources PLC

30 July 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.

30 July 2024

Rome Resources Plc

("Rome" or the "Company")

Mobilisation of Diamond Core Drill Rigs to the Bisie North Projects

Rome Resources Plc (AIM: RMR) provides an update on drilling operations at the Company's flagship project located in the North Kivu province in the Democratic Republic of Congo which comprises the Kalayi prospect, the Mont Agoma prospect and the Mont Agoma Northwest prospect (together the "Bisie North Projects")

The Company is pleased to announce that it has commenced the mobilisation of the first of three diamond core drill rigs to be used in the first week of August 2024 at sites identified and prepared by the Company at the Bisie North Projects.

Two diamond core drill rigs are anticipated to commence with resource drilling at the Kalayi prospect where high grade tin mineralisation intersected previously will be drill tested down to a vertical depth of 150 metres ("m") from surface and will cover 600m of the contiguous tin in soil anomaly which has been previously defined over 2,000m lateral extent.

The third diamond core drill rig will cover 700m of the high-grade polymetallic tin, copper, zinc, lead and silver soil anomaly above the Mont Agoma prospect. The drill programme will test the anticipated tin mineralisation beneath the previously drilled polymetallic zone.

The geological model, described in the Competent Persons Report outlined in the Admission Document published on 8 July 2024, is based on similarities to the world class San Rafael tin mine and predicts tin becoming the main mineralisation phase below the polymetallic mineralisation.

The drilling programme is anticipated to continue through to the early part of the fourth quarter of 2024 with a proposed total drilled length of 2,700m.

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

"We are hugely pleased to be mobilising drilling units to site to commence the Company's 2024 drill programme immediately following our successful fundraise and admission to AIM last week. We are looking forward to regularly updating the market over the coming weeks and months as the drill programme progresses."

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

Dr Deon Vermaakt is a consultant to the Boad of Rome Resources Plc, qualified geologist and is a registered Professional Natural Scientist (Geological Science) with the South African Council for Natural Scientific Professions (SACNASP Reg. No. 400074/03). Dr Deon Vermaakt, who meets the criteria of a qualified person under the AIM Note for Mining and Oil & Gas Companies - June 2009, has reviewed and approved the technical information contained within this announcement.

 

END