REG - Blencowe Resources - Appointment of Leading Engineering Firm to DFS

Blencowe ResourcesAnnouncement

23/01/2023 07:00

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RNS Number : 4757N  Blencowe Resources PLC  23 January 2023

Date: 23 January 2023
Blencowe Resources Plc

("Blencowe" or the "Company")

 

Appointment of Leading Engineering Firm to Manage Orom-Cross DFS

 

Highlights

·    Blencowe continues to progress the Orom-Cross project with
appointment of a notable engineering firm to manage the Definitive Feasibility
Study ("DFS").

·    Appointment of CPC Engineering ("CPC") of Perth to lead and develop
the DFS for Orom-Cross.

·    CPC have extensive experience in African graphite projects and
Blencowe will leverage this knowledge to refine the delivery of the Orom-Cross
DFS.

 

Blencowe Resources Plc ("Blencowe Resources" or the "Company") (LSE: BRES) is
pleased to announce it has engaged leading engineering firm CPC Engineering to
lead, deliver and sign off on the DFS for the Orom-Cross Graphite Project.

CPC has extensive experience in other leading graphite projects in East
Africa, having completed the DFS for the Maniry Graphite Project (Black Earth
Minerals, ASX: BEM) in Madagascar, as well as both the Mahenge (Black Rock
Mining Ltd, ASX: BKT) and Chilalo Graphite (Evolution Energy Minerals, ASX:
EV1) Projects in Tanzania and the scoping study for the Ancuabe Graphite
Project (Triton Minerals, ASX: TON) in Mozambique. CPC also completed the
detailed engineering, procurement, construction support and commissioning
services for the Syrah Resources (ASX: SYR) Balama Graphite Project in
Mozambique.

Blencowe is pleased to have partnered with a firm with extensive experience in
both graphite and flotation circuits. CPC will work with the Company and
various other Ugandan service providers in the delivery of the DFS for
Orom-Cross Graphite in 2023.

The CPC works will include:

·    Optimisation of the process plant design, incorporating results of
the various testwork programs from SGS, IMO and the pilot plant works
(Jilin/China) along with CPC's expertise in design and construction of
graphite process plants.

·    Provide updated and optimised CAPEX and OPEX for project cost and
schedule certainty;

·    Provide updated project costs and schedule for the Project
non-processing Infrastructure.

·    Sign off on full DFS once completed to provide the third party
approval from a recognised leading technical firm as required to ensure
project funding support.

 

Cameron Pearce, Executive Chairman commented;

"We are pleased to add another high-quality partner to the Orom-Cross
Project.  CPC has a very impressive track record within the graphite market
and we are now able to leverage off their skills, experience and relationships
to ensure we deliver a first class DFS."

 

He continued "The graphite market continues to shift in our favour and we
expect the supply-demand imbalance to widen further, as demand for graphite
accelerates, given its material role within lithium-ion batteries. Orom-Cross
has continued to exceed our expectations and we remain focused on delivering a
world class project. CPC are recognised as one of the top tier engineering
firms within the graphite sector and their sign off on the DFS will not only
help optimise the Project, but also provide the credibility required for
project funding and market support."

 

For further information please contact:

 

 Blencowe Resources Plc   www.blencoweresourcesplc.com

 Sam Quinn                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)

 First Equity Limited     Tel: +44(0)20 7330 1833

 Jason Robertson          jasonrobertson@firstequitylimited.com
                          (mailto:jasonrobertson@firstequitylimited.com)

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

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

 

 

 

 

About CPC Engineering

CPC Engineering is a privately owned, Perth-based engineering company with 50
years' experience providing reliable and practical engineering solutions to
the resources industry, both nationally and internationally. CPC employs over
350 personnel and specialises in engineering design, construction and
maintenance.

CPC Project Design is located at CPC Engineering head office in West Perth and
is a multidiscipline engineering design, procurement, construction and project
management team which has developed a reputation for delivering practical and
cost-effective services to the resource industry.

CPC has extensive resource engineering experience with clients that include
Syrah Resources, BlackEarth Minerals, Black Rock Mining, Albemarle, First
Quantum, AngloGold Ashanti, Tronox Limited OceanaGold, Newmont, Barrick Gold
and Sandfire Resources.

 

 

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 coarse
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
completed a successful Pre-Feasibility Study in 2022.  The Company has now
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, with only a small percentage of the overall deposit drilled
to date. Development of the resource is expected to benefit from a low strip
ratio and free dig operations, thereby ensuring lower operating and capital
costs.

 

 

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