RMR Rome Resources Plc

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.

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