Rome Resources PLC Update in relation to drilling operations

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. [phone]

 

Allenby Capital Limited (Nominated Adviser and 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]

 

 

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)
Sn:	The chemical element for Tin

 

 

 

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