Rome Resources Plc (AIM: RMR) saw its shares rise in early Tuesday trading following the latest results from the Kalayi tin prospect in the Democratic Republic of Congo, which confirmed further high-grade mineralisation across multiple ore shoots.
The results from two diamond core drill holes strengthen confidence ahead of the project’s upcoming maiden resource estimate.
At Kalayi, tin mineralisation remains open beyond 250 meters in depth, with the company noting that visible cassiterite mineralisation was observed in the most bottomless hole drilled to date. So far, drilling has only covered 30% of the project’s identified 2,000-meter ‘tin-in-soil’ anomaly.
“With tin trading near record highs of approximately US$34,000 per tonne, our latest results further underscore Kalayi’s economic potential,” said chief executive Paul Barrett.
“These findings reinforce our confidence in the project’s expanding scale and the continuity of high-grade tin mineralization at depth. We now have clear evidence of a robust system extending across multiple zones, with widths and grades improving as we drill deeper towards the granite source.”
Barrett added that the company is making rapid progress toward defining its maiden inferred mineral resource estimate, marking a significant step in unlocking the full potential of this emerging tin asset.
“The combination of high tin grades, increasing scale, and Rome’s strategic position within one of the world’s most prospective tin belts places us in a strong position to generate further shareholder value,” he said.
In London, Rome Resources shares climbed over 5%, trading at 0.31p, giving the company a market valuation of approximately £15.5 million.
The latest drilling results included hole KBDD015, which returned 3.3 meters at 1.77% Sn from a depth of 96.85 meters and 5.7 meters at 1.35% Sn from 147.90 meters, including 2.85 meters at 1.98% Sn.
Hole KBDD016 intercepted 9.5 meters at 0.60% Sn from a depth of 126.45 meters, with a high-grade section of 1.7 meters measuring 1.61% Sn.
