Rome Resources Plc (AIM:RMR) told investors it is significantly more confident it will find high-grade tin mineralisation at the Bisie North project, in the Democratic Republic of Congo, thanks to new drill data.
The company today released results from drilling at the Kalayi and Mont Agoma prospects, part of Bisie North, where Rome reports that significant tin mineralisation was observed in multiple drill holes, with promising structural and grade trends.
Drilling operations continue with 2,327 metres completed across both prospects as of November 17. Three rigs are currently active at Mont Agoma, with one is running at Kalayi.
"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,” chief executive Paul Barratt said in a statement.
He added: ''We believe that Mont Agoma has the potential to be another San Rafael-type mineral zonation type discovery.
“The results from these last two holes significantly increases our confidence in finding high grade tin mineralisation as drilling moves closer to the granite source.''
Rome also revealed that it is currently engaged in discussions with several parties under non-disclosure agreements regarding a potential strategic investment – albeit there can be no guarantee that it will result in a transaction.
Drill results in more detail
At the Kalayi prospect, drill hole KBDD005 reported 0.6m at 4.05% Sn from 87m and 0.6m at 3.05% Sn from 111.9m. Drill hole KBDD006 revealed 6.5m at 1.03% Sn from 31.5m, including 0.5m at 4.25% Sn from 35.5m and 0.5m at 3.01% Sn from 37.5m.
An additional zone of 3.5m at 0.25% Sn from 48.5m was also identified. Notably, drill hole KBDD016 intercepted a 10m-wide tin zone starting at 126m.
The Mont Agoma prospect yielded equally encouraging results.
Drill holes MADD016A and MADD017 intersected visible tin within a broad 50m-wide mineralised envelope, with grades increasing at depth.
Rome highlighted that the host mafic volcanic unit at Mont Agoma was found to be significantly broader than those at nearby Mpama North and South deposits.
Ongoing exploration will test mineralisation to greater depths and along a 400m southeast strike extension.