REG - Blencowe Resources - Beehive Delivers 2 Standout +90 metre Intercepts

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RNS Number : 2316O  Blencowe Resources PLC  09 January 2026

Date: 09 January 2026

 

Blencowe Resources Plc

("Blencowe" or the "Company"),

 

Beehive Delivers Further Standout +90 metre Intercepts

Results Reinforce Multi-Decade Scale & Growth Potential

 

Blencowe Resources Plc (LSE: BRES) is pleased to report the remaining two
deep-hole assay results from the newly discovered Beehive deposit, located
approximately 3kms from the existing Northern Syncline and Camp Lode deposits
at the Orom-Cross graphite project in Uganda.

Beehive is an extensive new graphite discovery made during the Company's
broader Stage 7 drilling programme in 2025, with exploration there comprising
three deep holes to depths below 100 metres to test continuity and 108 shallow
holes designed to test graphite mineralisation from surface to 30 metres,
which is considered most attractive for low cost-effective mining.

Following the exceptional results previously reported from deep Hole L238B
(returning 92.55m @ 6.83% TGC), the Company now reports further excellent
drilling results from Beehive deep holes L237B and L239B.  These results
continue to highlight Beehive as a thick, continuous graphite system and
reinforces its potential to deliver meaningful higher-grade early production
tonnes within the broader Orom-Cross mining strategy.

Together with recent results from the Iyan Deposit and the existing Northern
Syncline and Camp Lode resources, these Beehive results further support
Orom-Cross as a graphite system of sufficient scale to underpin long-life and
multi-decade production; a key consideration for strategic and institutional
funding groups.

In addition to the three Beehive deep holes the programme included 108
shallow holes at Beehive and 72 shallow holes at Iyan. Assay results from
these remaining holes are expected near term, providing a clear pipeline of
ongoing newsflow as the Company progresses funding discussions in parallel.

 

 

Beehive Deposit - Key Drill Results

Figure 1: Beehive Deposit deep-hole drill sections showing thick, continuous
graphite mineralisation remaining open at depth.

 

Hole L237B:

93.98m (TW) @ 6.03% TGC, comprising three stacked mineralised intervals from
near surface to 118.22m, including:

·    22.61m (TW) @ 10.10% TGC,

o  including internal high-grade interval of 3.00m @ 14.64% TGC,

o  including 1.46m @ 14.3% TGC, and

o  including 1.00m @ 12.72% TGC

·    14.17m (TW) @ 5.42% TGC from surface,

o  including grades up to ~9.4% TGC

·    57.20m (TW) @ 4.58% TGC,

o  including 2.08m @ 12.75% TGC

Hole L239B:

95.45m (TW) @ 5.62% TGC, comprising two stacked mineralised intervals from
2.73m to end of hole at 120.20m, including:

·      81.00m (TW) @ 5.82% TGC,

o  including 0.67m @ 18.90% TGC,

o  including 1.00m @ 11.98% TGC,

o  including 1.00m @ 11.96% TGC, and

o  including 4.00m @ 9.95% TGC

·      14.45m (TW) @ 4.49% TGC,

o  including 0.69m @ 15.46% TGC

 

These latest two holes reported are in addition to Hole L238B which was
announced in December 2025, with 92.55 metres (TW) @ 6.83% TGC, including
15.89 metres @ 9.42% TGC and 8.38 metres @ 10.95%.

 

Geological Interpretation

The two newly reported deep holes were drilled to test whether the Beehive
graphite system continues beyond the previously reported Hole L238B.

·      Hole L237B confirms that thick, high-grade graphite continues
along the Beehive structure.

·      Hole L239B confirms that graphite continues to depth, with
mineralisation still present at the end of the hole.

·      All three deep holes intersect graphite from near surface and
remain open at depth, which highlights the strength and continuity of the
system.

This combination of thickness, continuity and mineralisation remaining open at
depth is characteristic of large, long-life graphite systems rather than
short-lived or isolated deposits.

Across all three deep holes, Beehive has now delivered consistent mineralised
thicknesses of around 90-95 metres, with multiple high-grade zones occurring
within each hole. This consistency supports Beehive being interpreted as
a large, continuous graphite deposit, rather than isolated high-grade
pockets.

Size, scale and continuity are important factors for strategic and
institutional funding groups, which typically focus on projects capable of
supporting long-life, multi-decade production.  Blencowe has existing
licenses to explore a mineralised area at Orom-Cross over 20 kilometres in
length yet all drilling completed to date sit only within the (ML 1959) Mining
License zone which is just a small part of the overall deposit and licensed
area.

 

Figure 2: Orom-Cross graphite project showing ML1959 as a part of the overall
licensed area.

 

Blencowe now awaits assay results from the remaining 108 shallow
holes drilled at Beehive, which are expected to define significant
near-surface tonnage and further demonstrate the overall scale of this new
discovery. Beehive sits within the Company's existing 21-year Mining Licence
(ML1959) granted in 2019, adding to its development and permitting strength.

 

Executive Chairman Cameron Pearce commented:

"Beehive continues to deliver standout deep-hole drill results, further
demonstrating the scale, continuity and quality of this deposit.   The
presence of thicker, higher-grade zones reinforces its potential to add
meaningful tonnes and support multi-decade production potential, particularly
if these results are replicated across the 108 remaining shallow Beehive holes
currently being assayed.  This is in addition to results expected for another
72 step-out and exploratory holes from Iyan.

Demand for graphite continues to grow, especially for higher quality
end-products such as those delivered from Orom-Cross.  The Company believes
this project has the potential to rank among the larger, lower-cost graphite
developments globally, supported by a completed DFS, advanced project
readiness, fully completed metallurgical pre-qualification and offtake
arrangements in place for all of Phase 1 Production.

With a large volume of drill results still pending from the ongoing programme,
we see a clear pathway to continued scale growth and we anticipate a steady
flow of further updates as we progress into 2026 while advancing funding
discussions in parallel."

 

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.sethi@blencoweresourcesplc.com
                            (mailto:sasha.sethi@blencoweresourcesplc.com)
                            (mailto:sasha.sethi@blencoweresourcesplc.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/)

 

Map 1: Showing the 4x Orom-Cross deposits, including Camp Lode, Northern
Syncline, and new Iyan (NS western limb) and Beehive (GT 01a) deposits.

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