- Rome Resources
- 09 June 2026 15:10:45
Source: Sharecast
The AIM-traded tin and copper explorer said it would carry out work across three priority target areas under an option agreement announced in March, covering early-stage exploration licences over 109 square kilometres of mining claims in New Brunswick.
Rome said it would act as operator during the option period and expected to incur a maximum of CAD 150,000 in costs for the 2026 programme, after which it would assess whether to exercise the option.
The programme is expected to include more than 500 samples from surface and trench sampling across Schoullar Mountain, Square Lake and Victoria Lake.
The work is aimed at assessing the potential for exploration drilling across tin and tungsten showings in the Devonian granite play of southwestern New Brunswick.
The land package includes areas near the historic Mount Pleasant Tungsten Mine, a past-producing operation in a district known for tin, tungsten, molybdenum and indium mineralisation associated with greisenised granite systems.
At Schoullar Mountain, a few kilometres east of Mount Pleasant, Rome plans to sample along four historical induced polarisation profiles, including trenching in two areas where chargeability is interpreted to be near surface.
At Square Lake, sampling will focus on historical tin and tungsten workings along the eastern greisenised margin of the Mount Douglas granite.
The Victoria Lake area, previously referred to as the expanded Three Lakes project, includes claims along the youngest greisenised phase of the Mount Douglas granite, where multiple tin and tungsten showings have been identified.
Rome said surface sampling had previously returned grades of up to 1.4% tin.
The company also said it had been awarded an exploration grant from the Province of New Brunswick covering part of the 2026 field programme expenditure.
Chief executive officer Paul Barrett said the Mount Douglas granite system hosted “one of the most prospective tin-tungsten-indium districts in eastern Canada”, including the historic Mount Pleasant Tungsten Mine.
“The potential for tin, tungsten and indium resources in the Mount Douglas and associated granite systems potentially represents a significant opportunity for the company and, with tungsten now firmly established as a strategically important critical mineral, we are delighted to be advancing the first field programme as operator across the project area,” he said.
Barrett added that Rome was continuing work on an updated mineral resource estimate for its Bisie North project in the Democratic Republic of Congo and would update the market on that and ongoing geophysical survey operations in due course.
At 1012 BST, shares in Rome Resources were down 0.11% at 0.35p.
Reporting by Josh White for Sharecast.com.
See latest RNS on Investegate