Company Announcements

22 October 2024

Rome Resources Plc

("Rome Resources", the "Company" or the "Group")

Promising Copper-Tin Mineralisation at Mont Agoma

Rome Resources PLC (AIM: RMR), the DRC-focused tin explorer, is pleased to provide an update on drilling progress at the Mont Agoma Prospect ("Mont Agoma"), Rome Resource's polymetallic tin-copper-zinc prospect located in the North Kivu province in the Democratic Republic of Congo (the "DRC"), which, together with the Kalayi Prospect ("Kalayi") and the Mont Agoma Northwest prospect, comprise the "Bisie North Projects" (the "Project").

The ongoing drilling campaign follows the success of the outstanding MADD10A hole, which intersected significant high-grade copper, zinc, silver with tin mineralisation, further highlighting the Mont Agoma prospect's considerable potential. Drilling progress is highlighted below.  

Highlights

·    MADD016: Terminated early due to stuck rods at 46 metres but entered the tin zone.

·   MADD016A: Successfully redrilled to 242.5m; encountering a 67m wide tin, copper and zinc  zone between at 47m and 113m. Copper mineralisation was present in discrete intervals within this tin-polymetallic zone and additionally in several intervals below the tin zone to 220m.

·    MADD017: Drilling at 143m depth currently in the tin, copper and zinc zone, have encountered several tin-bearing intervals with a concentration of cassiterite (tin) veins between 117m and 140m. A notable copper zone was encountered between 98m and 113m. 

·    MADD018 is drilling above the anticipated mineralised zone at 27m.

·    Drill samples flowing to ALS Johannesburg, drill site core assessments are highly promising.

The Company is pleased to report that two drill rigs remain operational at Mont Agoma and holes MADD016 and MADD016A have been completed, MADD017 is drilling within the mineralised zone, and MADD018 is advancing through the top-hole section. Promising tin, copper and zinc indications have been identified in MADD016A and MADD017, with on-site Niton XRF portable analyser readings suggesting non-visible disseminated mineralisation.

Current indications are that there is a significant increase in widths of tin mineralisation in the southeasternmost holes along strike and at depth. Grades will be confirmed in laboratory analyses.

Separately, drilling at Kalayi is ongoing and a further announcement will be made in due course.

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

"Drilling continues apace at both Kalayi and Mont Agoma.  The flow of samples for assay reporting is continuing, with the first batch now at ALS Johannesburg.  Initial assessments from the cores continue to be very promising, in terms of both tin and copper indications and we look forward to being able to update the market as soon as laboratory analyses become available.

We are encouraged by what appears to be a marked increase in tin mineralisation as drilling progresses towards the southeast and at deeper levels. The directors of Rome Resources believe that the strong association of tin and copper mineralisation further supports our analogy with San Rafael in Peru which commenced operations as a copper mine before passing through a transition zone of tin and copper.

We see ourselves within a similar transition zone and given the extent of the broad zone of sulphide mineralisation, believe we have significant discovery potential."

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

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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