Rome Resources Pauses Drilling at Bisie North Tin Project Amid Security Concerns
Why we think this is neutral
The RNS provides an update on the drilling and operations at Rome Resources' Bisie North Tin project in the DRC. While the latest drill results indicate the potential for a viable mineral resource, the company has temporarily paused its drilling operations due to the security situation in the region. This pause could delay the progress towards a maiden inferred mineral resource estimate and the potential development of the project. Additionally, the RNS does not provide any financial information or details on the actual grades or volumes of the mineralization, making it difficult to assess the economic viability of the project.
Key Points
- Completed two additional exploratory drill holes at Bisie North Tin project
- Intersected significant zones of visible tin and copper mineralization
- Temporarily paused drilling operations due to security concerns in the DRC
- Expects to progress towards a maiden inferred mineral resource estimate by end of April 2025
Summary
Rome Resources Plc, the DRC-focused tin and base metals explorer, has provided an update on its exploratory drilling programme at the Bisie North Tin project. The company has completed two additional drill holes, MADD024 and MADD026, which have intersected significant zones of visible tin and copper mineralization. However, the company has temporarily paused its drilling operations due to the security situation in the region, with the M23 rebel group advancing. This pause will also allow the drilling contractors to source spare parts and rods. The company expects to progress towards a maiden inferred mineral resource estimate for both the Kalayi and Mont Agoma prospects before the end of April 2025.