REG - Blencowe Resources - 600t Bulk Sample Nearing Completion

Blencowe ResourcesAnnouncement

25/06/2024 07:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240625:nRSY7472Ta&default-theme=true

RNS Number : 7472T  Blencowe Resources PLC  25 June 2024

Date: 25 June 2024

Blencowe Resources Plc

("Blencowe" or the "Company")

 

600 tonne Graphite Bulk Sample nears Completion

Test work to provide commercial scale samples near to key milestone

 

 

Blencowe Resources Plc, together with its Chinese partner Jilin New Technology
Graphite Co. ("Jilin"), is pleased to announce the near completion of
processing 600 tonnes of raw material from the Orom-Cross graphite project in
Uganda. This commercial scale testing in China has been crucial to fast-track
product qualification, bypassing the need for a costly pilot scale graphite
processing facility at site.

 

Highlights:

·    600 Tonne bulk sample processing expected to complete by June end
with results due shortly after.

·    Excellent yields and recoveries delivered to date, highlight once
again the strong purity and characteristics of Orom-Cross graphite.

·    Approximately 30 tonnes of graphite concentrate expected, providing
substantial sample size for testing by interested tier-1 offtakers.

·    Majority of small flake concentrate to be sent to Blencowe's SPG
processing partner for further beneficiation.

·    This process will deliver approximately 10 tonnes of 99.95% uncoated
SPG (spheronised purified graphite), the battery-ready product OEMs want to
test before signing offtake agreements.

 

Concentrate Processing

Jilin, one of the leading graphite processing companies in Asia, has extensive
knowledge of Orom-Cross graphite through this and previous test work. Jilin
completed a 100 tonne bulk sample to concentrate for Blencowe in 2023 and has
been processing a 600 tonne bulk sample over the last quarter.

Yields and recoveries delivered to date have been excellent, highlighting once
again the strong purity and overall characteristics of Orom-Cross graphite and
the program is expected to complete within the next week, delivering
approximately 30 tonnes of 95-97% LOI graphite concentrate with a 55/45 mix of
small flake/large flake. Blencowe will thereafter have substantial volumes of
both small flake and large flake concentrate for further testing.

End products will be made available to prospective offtakers as product
testing completes, with most small flake concentrate sent to Blencowe's SPG
processing partner for further beneficiation to deliver about 10 tonnes of
99.95% uncoated spheronised purified graphite (SPG), the battery-ready product
OEMs want to test before signing offtake agreements.

Blencowe has already announced its first MOU for offtake for the large flake
concentrate and through completion of these next steps the Company anticipates
delivering further MOUs with leading buyers of graphite products worldwide,
with the aim of securing offtake partners for the entire production output
from Orom-Cross.

 

 

 

Executive Chairman Cameron Pearce commented:

"We are thrilled to be nearing the completion of our 600-tonne bulk sample
processing, which is a critical milestone in our DFS journey. The excellent
results so far underscore the high quality and potential of our Orom-Cross
graphite.

As we transition to the next phase, our focus remains on delivering premium,
battery-ready graphite products that meet the stringent demands of our
prospective tier-1 offtakers and OEMS who are seeking high grade product to
ensure their long-term supply to meet accelerating demand for battery-ready
premium product, especially from the automotive industry for electric vehicle
batteries.

Successfully proving the quality of our end product at commercial scale at
this early stage not only strengthens our position in the industry but also
sets the stage for significant commercial advancements with offtakers and
downstream partners. We look forward to sharing more positive updates as we
drive towards our goal of becoming a leading supplier of high-purity
graphite."

 

 

For further information please contact:

   Blencowe Resources Plc

  Sam Quinn                 www.blencoweresourcesplc.com

                            Tel: +44 (0)1624 681 250

                            info@blencoweresourcesplc.com (mailto:info@blencoweresourcesplc.com)
 Investor Relations         Tel: +44 (0) 7891 677 441

 Sasha Sethi                sasha@flowcomms.com (mailto:sasha@flowcomms.com)
 Tavira Financial           Tel: +44 (0)20 3192 1733

 Jonathan Evans             jonathan.evans@tavira.group (mailto:jonathan.evans@tavira.group)

Twitter https://twitter.com/BlencoweRes (https://twitter.com/BlencoweRes)

LinkedIn https://www.linkedin.com/company/72382491/admin/
(https://www.linkedin.com/company/72382491/admin/)

 

 

 

Background

 

Orom-Cross Graphite Project

Orom-Cross is a potential world class graphite project both by size and
end-product quality, with a high component of more valuable larger flakes
within the deposit.

A 21-year Mining Licence for the project was issued by the Ugandan Government
in 2019 following extensive historical work on the deposit and Blencowe has
moved into the Definitive Feasibility Study phase as it drives towards first
production.

Orom-Cross presents as a large, shallow open-pitable deposit, with a maiden
JORC Indicated & Inferred Mineral Resource deposit of 24.5Mt @ 6.0% Total
Graphite Content. Development of the resource is expected to benefit from a
low strip ratio and free dig operations, thereby ensuring lower operating and
capital costs.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFIFLRRVIEFIS