Rome Resources has announced laboratory results from its latest drilling campaign at the Mont Agoma tin prospect in the Democratic Republic of Congo’s North Kivu province.
The results reveal substantial widths of tin mineralisation, but shares fell with tin grades underwhelming the market. Rome Resources shares were down 17% at the time of writing.
The first two completed diamond core drill holes have unveiled three distinct mineralisation zones, with combined widths of 38.4 metres in MADD016A and 32.1 metres in MADD017.
However, the drilling programme yielded questionable tin grades, with MADD016A returning intervals of 20.5 metres at 0.18% tin from 57.5 metres depth and 14.9 metres at 0.45% tin from 99 metres.
For context, Cornish Metals encountered grades as high as 3.24% and 4.66% at its South Crofty mine in 2023.
Copper and zinc were encountered by Rome at Mount Agoma, including 7.2 metres at 1.32% copper and a 31-metre section grading 4.02% zinc.
MADD017 demonstrated equally encouraging results, with multiple tin-bearing zones, including 8 metres at 0.49% tin from 154 metres depth. The hole also intersected exceptional zinc mineralisation, returning 25.35 metres at 13.97% zinc from 110.1 metres.
Investors seemed to have little interest in the copper and zinc mineralisation on Tuesday.
The company draws parallels between Mont Agoma’s mineralisation pattern and the renowned San Rafael deposit in Peru, noting similar transitions from copper to tin mineralisation at depth. The project also shares characteristics with Alphamin’s Mpama South deposit, particularly in its zinc mineralisation patterns.
Rome Resourceswill advance its exploration programme throughout 2025, supported by recent funding secured through Stanvic Mining.
The company has already completed 1,657 metres of drilling across eight holes since the programme’s commencement in August 2024, with three holes currently ongoing.
“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,” said Paul Barrett, Chief Executive Officer of Rome Resources.