Rome Resources discovers new tin zone at Mont Agoma
Rome Resources () has discovered of a new tin zone on the eastern flank of the Mont Agoma prospect at its flagship Bisie North project in the Democratic Republic of Congo.
Drillhole number MADD030 hit a 40 metre interval in shallow weathered sequence, which was confirmed as mineralised by on-site XRF testing. Assays remain pending.
This hole is located outside the existing soil anomaly and drilled area, suggesting a possible new system or fault-generated repetition.
Accordingly, it demonstrates the potential for significant upside expansion along the eastern flank of Mont Agoma.
Rome currently has three rigs active and has drilled four holes since 13 May, for 737metres.
All these holes have encountered broad visual mineralisation.
Maiden resource estimate work is now underway.
"To date all the Mont Agoma drilling has focused on the main ridge where the geochemical anomaly is strongest,” said Paul Barrett, Rome’s chief executive.
“These initial indications from MADD030 open up the exciting scenario where tin mineralisation is present beyond the limits of our known footprint, potentially opening up the whole of the eastern flank of Mont Agoma. This is exactly the kind of upside we hoped to unlock with this new phase of drilling. With three rigs turning, work in relation to our maiden mineral resource estimate underway and work due to start soon on the metallurgy of the deposit, Rome is building serious momentum on both the exploration and development fronts.”
View from Vox
It’s best to be cautious with XRF readings. These are usually pretty good indicators, but don’t deliver the kind of accuracy that assays do. That said, Rome has proved itself remarkably adept at working up its tin prospects, and hasn’t made many false steps. Positive XRF is a hopeful sign that the company continues to deliver on its promise of a substantial mineralised asset at Mont Agoma. And after all, the Rome team has a track record of proving up such projects. Note, too, that the shares are now trading above where they were 12 months ago. There is some way to go before they regain the heights they were at before local unrest temporarily put a stop to work last year, but the direction of travel is plain. Watch this one.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.