Rome Resources hits significant tin intersections in ongoing drilling at Kalayi and Mont Agoma
Rome Resources PLC () has hit significant tin showings in results from the first two of twelve diamond drill holes at its Kalayi tin prospect in the North Kivu province in the Democratic Republic of Congo.
Furthermore, two drill holes completed to the south of previous drilling on the highly prospective, polymetallic Mont Agoma prospect have also intersected significant visible tin, copper and zinc, confirming an increase in potential grade and width in tin mineralisation towards the source granites to the southeast.
The Kalayi, Mont Agoma and Mont Agoma Northwest prospects all lie within the Company's Bisie North Project.
At Kalayi, hole KBDD005 returned 0.6 metres at 4.05% tin from 87 metres depth, and 0.6 metres at 3.05% tin from 111.9 metres.
Hole KBDD006 hit 6.5 metres at 1.03% tin from 31.5 metres and 3.5 metres at 0.25% tin from 48.5 metres.
There’s also been visible tin mineralisation in holes in KBDD009 - KBDD016.
Meanwhile, at Mont Agoma, multiple zones of mineralisation have also been recorded using XRF, and there are indications that the host mafic volcanic unit at Mont Agoma are significantly broader than that at neighbouring Mpama North and South deposits, operated by Alphamin.
In addition, there are also now clear indications from the southernmost drill holes to date that tin mineralisation increases towards the granite source in the southeast and at depth.
Further drilling is planned to test the mineralisation model down to 250 metres vertical depth and 400 metres of additional strike to the southeast.
A total five drill holes (two abandoned) were drilled for 746 m at Mont Agoma; eight planned drill holes remain during the current programme.
Separately, the company is currently engaged in discussions with several parties under non-disclosure agreements regarding a potential strategic investment. While discussions are ongoing, there can be no guarantee that this will result in a transaction.
''These first assays from Kalayi build on the success of our last drilling campaign and it is becoming increasingly clear that we are unlocking a simple, open pit, high-grade tin resource,” said Paul Barrett, chief executive of Rome Resources.
“The pinch and swell geometry suggests potential for even greater widths of high grade mineralisation both at depth and along strike. At Mont Agoma, holes MADD016A and MADD017 look to be potential game changers for the company with 50 metres of visible tin across three main zones, with grade increasing at depth. This is in addition to further high-grade copper and zinc intercepts. While we await assay results, the team's experience in the region is driving the bulk of our remaining drilling towards the granite source at depth and to the southeast.”
View from Vox
A positive set of results from Rome Resources, to follow on from what’s gone before. Given the potential scale of what’s on offer here, and the track record of Rome’s team in delivering success in the past, it’s hardly surprising that discussions with potential partners are already underway. In what’s undoubtedly a tough market for junior miners, it’s good to see a company delivering success the old fashioned way – via the drillbit – and proving that exploration upside is still available in a jaded market. The shares rose nearly 9% on the news to a mid-price of 0.43p and are currently trading well above the listing price of this summer.
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