Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRome Resources PLC Regulatory News (RMR)

Share Price Information for Rome Resources PLC (RMR)

Share Price is delayed by 15 minutes
Get Live Data
0.35    0.00 (0.00%)
Bid:
0.34
Ask:
0.36
Spread: 0.02 (5.882%)
Market Cap: £26.87m
RMR Live PriceLast checked at - London Stock Exchange

Intraday Rome Resources PLC Share Chart

Drilling & Operations Update

14 Mar 2025 07:00

RNS Number : 6527A
Rome Resources PLC
14 March 2025
 

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.

 

14 March 2025

 

Rome Resources Plc("Rome" or the "Company")

 

Drilling & Operations Update

 

Rome Resources Plc (AIM: RMR), the DRC-focused tin and base metals explorer, provides the following update in relation to its exploratory drilling programme in the Bisie North Permit area.

 

Following completion of the last two exploratory holes, MADD024 and MADD026, the total metres drilled to date at the Bisie North Project is 2,181 metres from 10 holes at Mont Agoma and 2,264 metres from 18 holes at Kalayi. As noted in the Company's announcement released on 13 March 2025, Rome has now temporarily paused its drilling operations in advance of undertaking a maiden inferred mineral resource estimate of both the Kalayi and Mont Agoma prospects.

 

Significant zones of visible tin and copper mineralisation were intersected in both drill holes and included:

 

MADD024

· 27m of tin from 158m - 185m.

· 112m of copper - 33m from 57m - 90m; 15m from 108m - 123m; 37m from 152m - 189m and 27m from 209m - 236m.

 

MADD026

· 25m of tin from 174m - 201m.

· 54m of copper - 13m from 109m - 122m and 41m from 174m - 215m.

 

As previously announced, MADD024 was drilled approximately 70m below MADD012 and therefore it is anticipated that the tin grade improves at depth from the previously reported 0.1-0.5% at MAD0012.

 

MADD026 was drilled 50m south of MADD024 and approximately 70m below MADD011 which reported a best tin zone of 9m at 0.25% from 122m. The company believes this is the same structure being intersected, only deeper in the system, therefore an improvement of grade is also expected.

 

The Company expects the copper in both holes to be similar in nature to the higher grades seen in the more central section of the licence.

 

The samples from the mineralised sections in both drill holes have been processed on site and are currently being transported to Lubumbashi for sample preparation prior to analyses in Johannesburg.

 

Once results have been reported, the Company expects to progress towards a maiden inferred mineral resource estimates at both Kalayi and Mont Agoma. This is expected before the end of April 2025.

 

Operational update:

 

In light of the latest developments surrounding advances made by M23 and current drilling milestones achieved at Kalayi, and more recently with the completed MADD024 and MADD026 holes at Mont Agoma, the Company has decided to temporarily pause drilling operations at its Bisie North Project. This temporary pause will also allow the drilling contractors to source all drill rig spare parts and rods via Kisangani given their supply chain from Goma was severed through the closure of the Goma airport.

The Company highlights that all the drilling crews are paid on a per meter basis. As a result, during periods of inactivity there will be no cost to Rome from the drilling contractors.

 

While the Company continues to closely monitor the situation, Rome also welcomes the recent news reports noting potential peace talks being brokered by Angola in relation to the current conflict between the DRC and M23.

 

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

 

"We are pleased to have gathered significant data from our two most recent drill holes at Mont Agoma which strongly support our geological model.

 

Following the evacuation of Alphamin's Bisie mine site and their kind offer of assistance, we saw this as an opportune time to strategically pause operations enabling our service providers to carry out their required maintenance.

 

We are pleased to work with our service providers to ensure the best use of Company's funds during this time of reduced activity, placing the Company in a much stronger position for when we commence drilling.

 

We thank Alphamin for their support during this time and we look forward to updating the market with the assays from holes MADD024 and MADD026 in due course as well as our maiden inferred mineral resource estimate."

 

**ENDS**

 

For further information, please contact:

Investor questions on this announcement

We encourage all investors to share questions on this announcement via our investor hub

https://romeresources.com/link/5Pmg6e

 

Rome Resources Plc

Paul Barrett, Chief Executive Officer

Mark Gasson, Chief Operating 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

Henry Clarke, Head of Sales

email: jerry.keen@oak-securities.com

email: 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

Subscribe to our news alert service: https://romeresources.com/auth/signup

 

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.

 

Furthermore, Dr Vermaakt reviews all the sampling procedures on an on-going basis. The handheld Niton XRF is frequently checked and calibrated to ensure accurate analysis and measurements.

 

Glossary

 

 

Ag:

Silver

Cu:

Copper

g/t:

grams per tonne (Metric)

Km: 

Kilometres (Metric)

M: 

Metres (Metric)

Niton XRF:

A portable x-ray fluorescence analyser

Pb:

Lead

Ppm:

Parts per million (metric)

Sn:

Tin

Zn

Zinc

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDGPUAWWUPAPPW
12
Date   Source Headline
9th Jun 20257:00 amRNSDiscovery of New Tin Zone at Mont Agoma
2nd Jun 20257:00 amRNSMaiden MRE Work Commences at Bisie North
14th May 20257:00 amRNSMont Agoma Resumes Drilling, Strikes Copper & Zinc
12th May 20257:00 amRNSOperations Update
24th Apr 20257:00 amRNSOperations Update
31st Mar 20255:00 pmRNSTotal Voting Rights
24th Mar 20254:58 pmRNSIssue of Equity
20th Mar 20259:15 amRNSSettlement of claim against Mozambique Government
14th Mar 20257:00 amRNSDrilling & Operations Update
13th Mar 20253:24 pmRNSOperational update
4th Mar 20257:41 amRNS148m Copper Intersect at Mont Agoma
25th Feb 20257:11 amRNSHigh-Grade Tin Intercepts at Kalayi
11th Feb 20257:00 amRNSOperational Update and Upcoming Assay Results
31st Jan 20257:00 amRNS-RLaunch of new interactive investor hub
30th Jan 20257:00 amRNSKalayi Continuity of Tin Mineralisation Confirmed
27th Jan 202512:34 pmRNSOperations Update: No Impact from Goma Unrest
21st Jan 20257:00 amRNSSignificant Tin Widths Confirmed at Mont Agoma
31st Dec 20241:00 pmRNSTotal Voting Rights
27th Dec 20248:30 amRNSIssue of warrants
27th Dec 20247:00 amRNSStrategic Investment Update
20th Dec 20243:56 pmRNSStrategic Investment update
17th Dec 20247:00 amRNS£4.2 Million Strategic Investment
21st Nov 20247:00 amRNSDrilling Results Update - Significant Tin Hits
4th Nov 20247:00 amRNSBoard Changes
22nd Oct 20247:00 amRNSPromising Copper-Tin Mineralisation at Mont Agoma
15th Oct 20247:00 amRNSUpdate in relation to drilling operations
30th Sep 20247:00 amRNSProposed Board Changes
24th Sep 20247:00 amRNSHalf-Year Results
19th Sep 20247:00 amRNSXRF Tin Mineralisation Results
5th Sep 20247:00 amRNSFurther Update Regarding Drilling Operations
28th Aug 20247:00 amRNSRome Intersects Significant Tin Mineralisation
20th Aug 20247:20 amRNSDrilling Intersects Tin Mineralisation
5th Aug 20244:14 pmRNSDirector/PDMR Shareholding
5th Aug 20241:02 pmRNSCommencement of Drilling at the Kalayi Prospect
5th Aug 20247:00 amRNSHolding(s) in Company
31st Jul 20245:00 pmRNSTotal Voting Rights
30th Jul 20247:00 amRNSMobilisation of Diamond Core Drill Rigs
26th Jul 20244:44 pmRNSHolding(s) in Company
26th Jul 20248:00 amRNSReadmission - PATHFINDER MINERALS PLC
26th Jul 20248:00 amRNSEnlarged share capital admitted to trading on AIM
12

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.