REG - Blencowe Resources - Bulk Sample Update

Blencowe ResourcesAnnouncement

15/04/2024 07:00

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RNS Number : 5307K  Blencowe Resources PLC  15 April 2024

Date: 15 April 2024
               Blencowe Resources Plc

 
     ("Blencowe" or the "Company")

 

 

Bulk Sample Processing underway at Pilot Plant Facility in China

Progression towards Product Qualification and Offtake Contracts

 

Blencowe Resources Plc (LSE: BRES) is pleased to report significant progress
on the Definitive Feasibility Study ("DFS") works for the 100%-owned
Orom-Cross graphite project in Uganda including commencement of the 600 tonne
bulk sample test work at the Jilin Huiyang New Material Technology Company Ltd
("Jiliin") facility in China.

 

Highlights:

·      Bulk Sample Processing - commencement of the 600-tonne commercial
scale processing at Jilin in China marks a significant step forward for
Orom-Cross DFS.

·      Off-take Agreements Progress - senior management and potential
offtake partners to meet during April 2024 to advance off-take discussions
following strong interest in the large-scale test work, samples delivered to
date, and Orom-Cross products across the board.

·      Final Sample Delivery - both 96% concentrate and 99.95%
spheronised purified graphite ("SPG") provided from this latest bulk sample
testing are expected to be delivered in Q2 2024 to potential off-taker parties
in sufficient quantity for review, leading to product qualification and
ultimately contracts.

 

Following the delivery of the 600 tonne bulk sample materials to China,
processing has commenced at the Jilin facility. This same facility previously
conducted successful bulk metallurgical test work for Blencowe on the
100-tonne Orom-Cross sample in 2023.

Blencowe plans to utilise this product to generate large volumes of both 96%
concentrate and 99.95% uncoated SPG product for final qualification with
potential off-take partners.  This process aims to maintain the same
consistently high quality as previously delivered via this commercial-scale
production process in 2023.

Senior management will visit both China and South Korea over the next few
weeks to continue discussions on offtake agreements.  Strong interest has
been shown to date and Blencowe is confident that this will continue with the
ongoing large-scale test work.

 

 

 

Cameron Pearce, Executive Chairman commented;

"This latest 600 tonne bulk sample testing is a critical part of our DFS. We
aim to demonstrate that end products maintain the same high quality and purity
in commercial scale processing that have already been achieved in all previous
testing to date.  The 100 tonne testing last year confirmed this quality
maintains to scale and we are confident we can achieve similar results from
this latest 600 tonne testing.  Thereafter we will have sufficient quantity
of 99.95% SPG to provide for testing with tier one offtakers for product
qualification."

 

Mr Pearce added "We are making significant progress across all DFS
objectives.  Orom-Cross is a world class graphite project with unique
characteristics, and its potential is becoming increasingly evident as we
deliver each milestone."

 

 

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)

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 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.  Blencowe
completed a successful Pre-Feasibility Study on the Project in July 2022 and
is now within the Definitive Feasibility Study phase as it drives towards
first production.

Orom-Cross presents as a large, shallow open-pitable deposit, with an initial
JORC Indicated & Inferred Mineral Resource of 24.5Mt @ 6.0% TGC (Total
Graphite Content). This Resource has been defined from only ~2% of the total
tenement area which presents considerable upside potential ahead.
Development of the resource is expected to benefit from a low strip ratio and
free dig operations together with abundant inexpensive hydro-electric power
off the national grid, thereby ensuring low operating costs.  With all major
infrastructure available at or near to site the capital costs will also be
relatively low in comparison to most graphite peers.

 

 

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