Rome Resources Shares Rise As The Company Report Further Drill Results
Rome Resources are aiming to define a high-grade tin resource in the DRC, drilling results to date are extremely encouraging with copper emerging as a significant feature.
As the market continues to fret over the long-term supply of both tin and copper, Rome Resources are making sterling progress at their Mont Agoma and Kalayi projects in the DRC, today reporting further promising Copper and Tin mineralisation at Mont Agoma where two drill rigs are in action.
You can read more about the company and its projects in our SmallCapPix Research note here
It certainly looks like the market is picking up on this story, with the shares seeing a 15% increase in value off the back of the news, but is this just the start?
Potential for Major Tin-Copper Discovery
As the drilling campaign continues, early indications are that the company could be heading for a major tin-copper discovery with early core from a standout hole at Mt Agoma, confirming mineralization similar to Peru’s San Rafael Tin Mine, the third largest in the world (9% of worlds supply)
Following results of drill hole MADD10A which intersected significant high-grade copper, zinc and silver with tin mineralisation, the company have identified further tin and copper mineralisation as follows:
- 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.
Mineralisation Increasing at Depth
The company report that current indications are that there is a significant increase in widths of tin mineralisation in the southeasternmost holes along strike and at depth.
Copper in the Mix
Whilst Rome is largely focused on defining a high-grade tin resource some standout assays on the copper and zinc front have been recorded to date including:
- 41m @ 3.5% Cu inc 9m @ 9.5% Cu
- 47m @ 5.6% Zn inc 2m @ 9% Zn
Cut core from Hole 10A at Mt Agoma shows high-grade visible copper mineralisation.
These are extremely high copper and zinc grades and again confirms mineralisation similar to Peru’s San Rafael Tin Mine. Many of the larger well known mining companies consider 0.5% + commercial grades so these results will be getting some attention!
Next Steps
Whilst drilling continues at both prospects (Kalayi and Mont Agoma), with four drill-rigs in action and core samples being continuosly sent to the laborotary, the next few weeks and months look very exciting for investors and the company whose ultimate goal is to define a high-grade resource early 2025. What would this mean...
Well, at this point the company will have various options to further progress the project whether that be commencing a feasibility study or potentially agree to an outright sale of the projects!
The team that did it at Alphamin (one of the highest grade tin mines in the world and now trading at a $bn valuation paying dividends) could well do it again, if so, early-bird investors could be in for substantial rewards!