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.

21 January 2025

Rome Resources Plc

("Rome" or the "Company")

LABORATORY RESULTS CONFIRM SIGNIFICANT WIDTHS OF TIN MINERALISATION AT MONT AGOMA

Rome Resources Plc (AIM: RMR), the DRC-focused tin explorer, is pleased to announce laboratory results from the latest drilling campaign at its Mont Agoma tin prospect located in the North Kivu province ("Mont Agoma") in the Democratic Republic of Congo (the "DRC").

Assays from the first two of five completed diamond core drill holes confirm significant widths of tin mineralisation across three discrete zones within the tin, copper and zinc zone with combined widths of 38.4m in MADD016A and 32.1m in MADD017 which ended in mineralisation. Encouragingly, increased tin grades and visible cassiterite (tin mineral) was noted within the deeper intersection in MADD017 supporting the Company's zonation model in which tin mineralisation increases at depths closer to the granitic source. To that end, going forward the Company will concentrate the drilling programme on evaluating how the mineralisation develops with depth of approximately 100m below current intercepts.

Highlights:

·    1,657m completed from eight holes at Mont Agoma (3 ongoing) since drilling commenced in August 2024.

·    MADD016A:

o  3m at 0.27% Sn from 46.5m; 20.5m at 0.18% Sn from 57.5m; 14.9m at 0.45% from 99m. Total width of 38.4m of tin mineralisation.

o  3.9m at 1.24% Cu from 71.2m; 1.7m at 4.8% Cu from 95.3m; 7.2m at 1.32% Cu from 212.4m.

o  31.0m at 4.02% Zn from 92m.

·    MADD017:

o  4m at 0.44% Sn from 72m; 10.5m at 0.28% Sn from 116.5m; 9.6m at 0.37% from 130m; 8m at 0.49% Sn from 154m, terminating early in mineralisation. Total width of 32.1m of tin mineralisation.

o  25.35m at 13.97% Zn from 110.1m.

·    Early indications suggest that mineralisation at Mont Agoma aligns with the copper to tin mineralisation transition zone at San Rafael in Peru - with decreasing copper and increasing tin at greater depth.

·    Copper mineralisation potentially within a high-grade shoot plunging to the northwest - with over 100m of visible copper identified in MADD018, the northernmost drill hole.

·    High grade zinc identified throughout the 500m strike length drilled to date in a similar setting comparable to Mpama South deposit, operated by Alphamin.

·    Mineralisation remains open to the north, south and at depth.

·    Well placed to continue deeper drilling throughout 2025 following the recent fundraise with Stanvic Mining.

Paul Barrett, Chief Executive Officer of Rome Resources Plc, commented: ''We are extremely encouraged by the widths and grades of tin mineralisation intersected in holes MADD016A and MADD017 which confirms tin, copper and zinc mineralisation within the upper levels of the mineralised zonation model where lower grade tin is expected in association with high grade copper. With more than 200m width of confirmed sulphide mineralisation, it is becoming increasingly clear that we are unlocking a complex mineralised system with an increase in widths of tin mineralisation towards the base of the copper zone. Our ongoing deeper drilling campaign will soon reach similar depths where Alphamin's main resources are located.

Following our successful £4.2 million fundraising with Stanvic Mining, we are in a strong position to continue drilling at the Mont Agoma and Kalayi prospects, particularly targeting deeper levels on both prospects where there are clear signposts that mineralisation increases at depth.

The results from these last two holes significantly increases our confidence in finding high-grade tin mineralisation as new drilling moves to deeper levels, and we look forward to updating the market as the drilling programme continues to progress.''

Further information in relation to the results:

General

Significant intersections of Zinc was reported for both drill holes which is similar to the mineralisation reported at Alphamin's Mpama South which reported high grade zinc within parallel structures in close proximity to the tin mineralisation. Results are summarised in Table 1 and shown in Figure 2.

Results indicate that copper mineralisation is focused within a high-grade shoot plunging to the northwest. Copper widths appear to decrease towards the southeast (current drill holes) but increase towards the northwest where more than 100m of visual copper mineralisation (confirmed by the handheld Niton XRF analysis) was intersected in MADD018 on the northernmost drill line. Best continuous tin results to date have been reported in the southern drill holes where tin mineralisation has been reported over significant widths, albeit of a lower tenor closer to surface. The grades are expected to increase at depth assuming a similar zonation model to that at San Rafael.

The Company is awaiting results from MADD018, drilled on the northernmost line at Mont Agoma and intersected visible chalcopyrite (copper mineralisation) over more than 100m. Samples have been prepped and have been sent to ALS Global in Johannesburg for analysis. Samples from MADD020 and MADD021 drilled in the southern portion are currently in transit to Lubumbashi for sample preparation. Furthermore, additional results are expected from the Kalayi Prospect during January 2025, where samples are currently being processed at ALS Global in Johannesburg.

Following the recent £4.2 million strategic investment from Stanvic Mining, Rome is well-positioned to, inter alia, expand the Company's existing drilling programme. The focus remains on defining significant tin, copper, zinc and silver resources at both Kalayi and Mont Agoma within the first quarter of 2025.

Drill hole Details

To date 1,657m of diamond core drilling has been completed at Mont Agoma and drilling has covered 500m of the 1km of potential geological strike. Five of the initial 12 holes planned at Mont Agoma have been completed, with 3 additional holes in progress.   

MADD016A and MADD017 were drilled 50m to the southeast of the southernmost drill hole, MADD0009, in the initial drilling campaign where a significant intercept of 5m at 0.66% Sn from 46m including 1m at 2.11% Sn from 47m was reported. MADD016 reported an increase in width of 38.4m of tin mineralisation and grades of 3m at 0.27% Sn from 46.5m, 20.5m at 0.18% Sn from 57.5m and 14.9m at 0.45% from 99m including 2.7m at 1.30% Sn from 101.5m. MADD017 which was stopped within the mineralised zone for operational reasons but reported a combined width of 32m and grades of 4m at 0.44% Sn from 72m, 10.5m at 0.28% Sn from 116.5m, 9.6m at 0.37% from 130m and 8m at 0.49% Sn from 154m including a maximum of 0.5m at 2.64% Sn from 160.5m - for a total 32.1m of tin mineralisation. Both MADD016A and MADD017 showed a clear increase in width and grade in tin mineralisation to the southeast.

Results reported for MADD016A and MADD017 strongly support the zonation mineralised model in which tin mineralisation increases closer to towards the source where tin drops out at higher temperatures than copper and zinc. Assuming a plunge to this mineralisation to the northwest, tin would be expected closer to surface in the south and at much deeper levels as drilling moves northwards which is supported by drilling to date. The style of mineralisation identified to date is highly analogous with that at San Rafael towards the base of the copper mineralised zone and that at Alphamin's Mpama South where zinc is associated with tin mineralisation and anomalous copper.

MADD021 targeted mineralisation expected 80m below the intercept in MADD017 as shown in Figure 2. A zinc zone was intersected with minor anomalous tin and no copper according to visual observations and handheld Niton XRF analysis. A likely scenario is that the mineralised tin/copper/zinc zone was displaced through faulting given that the region has been subjected to continuous periods of extension and compression causing extensive folding and faulting or the unlikely scenario in which drilling has reached the base of the high grade north-westerly plunging shoot. Planned deep hole MAPC015 shown in Figure 1 will be drilled as a priority and will confirm which scenario is applicable and will enable the company to plan an extensive drilling programme at Mont Agoma taking into account the funding secured recently.   

Figure 1: Completed and planned diamond drill holes with tin results on the tin in soil anomaly at Mont Agoma.

Figure 2: Section across diamond drill holes MADD016A, MADD017 and MADD021 showing tin, copper and zinc results and zinc mineralisation identified on the Niton XRF analyser.

Table 1: Significant Tin Intercepts at Mont Agoma (0.1% cut-off grade for Sn, 0.5% cut-off grade for Cu and Zn; maximum of 3m waste)

For further information please contact:

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 (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.

The returned results of the QAQC samples inserted at regular intervals were all except one within the acceptable limits as per industry standards. Of the 16 Sn CRM's only one returned a value outside the acceptable limits. The 5 copper and 9 zinc CRM's were all within industry limits.

All of the 18 Blank samples returned acceptable results. Results for the 14 duplicates all indicated satisfactory results for Sn, Cu and Zn.

A total of 62 QAQC samples were inserted in the three batches consisting of 241 samples.

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