Rome Resources Plc (AIM:RMR) CEO Paul Barrett talked with Proactive's Stephen Gunnion about the company's latest drilling updates at the Kalayi and Mont Agoma prospects, part of its Bisie North project in the DRC.
Proactive: Hello, you're watching Proactive. I'm joined by Rome Resources CEO Paul Barrett. Paul, very good to speak with you again. You've released results from the first two of twelve diamond drill holes at your Kalayi prospects, and that's at the Bisie North project in the DRC. They look pretty encouraging?
Paul Barrett: Yes, morning Stephen. Yes, they do. This is the first batch of assays we've had from this program. There are quite a lot of drill holes at the lab and others on their way to the lab. So, there will be more coming through. We thought it was worth putting this out now due to the high grades being seen in the Kalayi prospect.
What we're seeing is a well-defined zone of tin, which is a tin-only anomaly. Each hole drilled shows well-defined tin zones, although there is a "pinch and swell" geometry. In one hole, the zone might be half the size; in another, it might double in width. We're drilling to quantify that variation and determine how much tin we have overall. The reference to it being a relatively simple mining project is because the tin is almost at surface and the site is on a ridge, making it an easy mining operation.
Proactive: Even more encouraging, perhaps, are the results in two drill holes at Mont Agoma, where you have intersections with visible tin, copper, and zinc. You also mentioned in the RNS that this could be a potential game-changer.
Paul Barrett: That's right. Unfortunately, we don't have any assays yet. Two of those holes are at the lab being assayed, and we hope to share results in the next week or so. Mont Agoma is polymetallic, with tin, copper, and zinc, but the key elements are tin and copper.
In 2-3 of the holes at the deposit's main core, we're seeing almost a 200-meter-wide sulfide zone containing these minerals. We've identified the northern limit of the mineralization and are now working on the southern limit, toward the granite. Grades and thicknesses are expected to improve as we approach the granite, which is the mineralization's source. We're currently drilling three holes in the southern, southeastern extent, with five more to go after that.
Proactive: Paul, when do you expect to wrap up the drill program at both prospects?
Paul Barrett: It will straddle Christmas and New Year. I don't think we'll finish before Christmas, but likely just after New Year. The rainy season is causing some delays, with issues like helicopter flights and road transportation. These half-day delays add up. So, we're looking at wrapping up by the first week of January.
Proactive: Paul, you also spoke in the RNS about talks regarding a potential strategic investment, which could also be a game-changer for the company.
Paul Barrett: Yes, we've had contact from parties, possibly due to International Resources Holding's (IRH) interest in Alphamin’s project next door. This has sparked interest from third parties. These are commodity specialists, more from the downstream, off-take end of the market, which complements our exploration focus.
These discussions align with our strategy to minimize shareholder dilution. If we can bring in a strategic industry partner, it would achieve that goal.