REG - Blencowe Resources - Bulk Sampling Update & China Visit

Blencowe ResourcesAnnouncement

14/08/2023 08:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230814:nRSN2032Ja&default-theme=true

RNS Number : 2032J  Blencowe Resources PLC  14 August 2023

Date: 14 August 2023

Blencowe Resources Plc

 

Confirmation of Commercial-Scaled Production Ability from Ongoing Studies in
China

 

 

Highlights:

·    Blencowe has successfully completed a critical component of the
Definitive Feasibility Study ("DFS"), with the successful scaled
commercialisation of the flowsheet within the bulk sample processing at
Chinese pilot plant graphite production facility.

·    Results continue to highlight a high-grade, low impurity concentrate
can be delivered in bulk from Orom-Cross.

·    Several meetings held with leading Chinese graphite offtake firms
seeking both large flake and fines concentrates.

·    Ugandan mining officials visited China with Blencowe and were shown
the process facility in support of the project.

·    Blencowe now approached for downstream processing opportunities.

 

Blencowe Resources Plc ("Blencowe" or the "Company"), is pleased to provide an
update on the 100 tonne bulk sample processing program currently underway. The
work is being completed by a leading graphite technical specialist firm, Jilin
New Technology, based in Yanji Province in northern China.  This experienced
graphite facility has been conducting similar test work on several other
leading East African graphite projects over the past few years.

The Company is expecting the bulk sample test program to be completed by the
end of August.

Senior Company personnel travelled to China recently to review the progress on
the bulk sample processing and broaden relationships in this key market.
 Accompanying the COO was the Company's Ugandan Country Manager and a
representative of the Ugandan Directorate of Geological Survey and Mines
(DGSM), with the express purpose of evaluating the progress of the processing
and to demonstrate the full process for the Ugandan Government.

Following a refinement of the Pre-Feasibility Study processing methodology by
Wuhan University specialists, Blencowe wished to confirm directly with the
pilot plant operators the expected improvements in both overall recovery and
concentrate grades and secure early samples for delivery to potential offtake
partners, following a marked increase in interest for the projects'
concentrate within China. The 100 tonne pilot plant process is currently
nearing completion and to date it is confirming the commercial processing
viability of the Orom-Cross ores. The Company also visited operating graphite
plants and graphite processing equipment suppliers.

Following the distribution of concentrate samples to potential end users from
the IMO test work and Wuhan University 150kg test work, several large
downstream offtake processors requested meetings to discuss timing and
availability of the high-grade, low impurity concentrates from the Orom-Cross
project. The offtake meetings involved firms seeking substantial quantities of
both larger flake concentrates and fines feedstock for the SPG processors.
Several downstream processing firms have expressed interest in opportunities
to explore in-country downstream processing of the Orom-Cross concentrates and
Blencowe will consider this within the DFS that is underway.

Blencowe was pleased to be able to escort a representative of the Ugandan
Directorate of Geological Survey and Mines to view the final processing of the
bulk sample. Blencowe invited the DGSM representative to view the process in
order to continue to develop a better understanding of the processing
technology involved, to foster a deeper overall understanding of the project
within Uganda, and to continue to work in partnership with the Government in
order to develop the project.

 

 

 

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

 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/)

 

 

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  MSCNKQBPABKKPFD