Rome Resources Plc (AIM:RMR, FRA:33R) shares rose 12% to 0.28p after the AIM-listed explorer said deep drilling had extended high-grade tin mineralisation beneath its maiden resource at the Kalayi project in the Democratic Republic of Congo.
Rome said a programme designed to test continuity at depth had returned fresh multi-metre intercepts from four newly completed holes, based on portable X-ray fluorescence readings.
Results included 4 metres at 7.50% tin from 75 metres in hole KBDD027 and 11 metres at 3.43% tin from 60 metres in KBDD025, including 6 metres at 5.14% tin from 65 metres.
Additional intercepts included 3 metres at 2.64% tin from 116 metres in KBDD024, as well as shorter intervals in KBDD026, the company said.
Rome said two rigs have been operating since its last update on 5 February, taking the total number of completed holes at Kalayi to nine, with a fifth hole approaching its target depth.
The company said it had drilled 1,602 metres of core in the current campaign as of 15 February.
Rome pointed to Alphamin’s Mpama North mine about 8 kilometres to the south as a geological analogue, citing reported vein thickness and average grade at the mine.
The explorer said the latest intersections supported its structural interpretation of the mineralised system at Kalayi.
Rome said it would host an investor call on 19 February to discuss progress at Kalayi and planned work at Mont Agoma.