Pathfinder Minerals Rebrands as Rome Resources, Announces New Tin Exploration in DRC
TL;DR
The merger with Rome Resources enhances Pathfinder Minerals' potential for substantial news flow and exploration success in the DRC.
The merged entity, Rome Resources, will be listed on AIM with the ticker RMR on July 26th, raising £4 million and commencing drilling activities.
The exploration plans in the DRC aim to establish a resource estimate by early 2025, potentially contributing to the local economy and employment opportunities.
The Bisie North Tin Project, managed by experienced geologists, will explore two tin anomalies, including a significant polymetallic anomaly containing copper and tin.
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Pathfinder Minerals has officially merged with Rome Resources and will now operate under the new name, Rome Resources. The newly formed entity is set to be listed on AIM with the ticker RMR on Friday, July 26th. This merger comes as Pathfinder Minerals, previously functioning as a cash shell company, disposed of its asset in Mozambique in search of new opportunities.
Paul Barrett, the newly appointed CEO of Rome Resources and former Executive Director of Pathfinder Minerals, announced that the company is raising £4 million in conjunction with the merger. The funds will be used to initiate drilling activities within a week at the Bisie North Tin Project in the Democratic Republic of Congo (DRC). This project, managed by a team of seasoned geologists, aims to explore two tin anomalies, including a significant polymetallic anomaly containing copper and tin.
Initial drilling has yielded promising grades, leading the team to plan an extensive drill program covering approximately 3,000 meters. The goal is to establish a resource estimate by early 2025. The proximity of the Alpha mining tin mine, known for being the highest-grade tin mine globally, further enhances the potential of the Bisie North Tin Project.
This strategic move is significant for the mining industry as it not only repositions a former cash shell company into an active explorer but also targets a region known for high-grade tin deposits. The company's expectation of generating substantial news flow in the coming months underscores the potential impact and developments that could arise from this initiative.
Curated from News Direct
