REG - Blencowe Resources - Drilling Update

Blencowe ResourcesAnnouncement

31/03/2025 07:15

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RNS Number : 8341C  Blencowe Resources PLC  31 March 2025

Date: 31 March 2025

Blencowe Resources Plc

("Blencowe" or the "Company")

Infill Drilling Phase Successfully Completed

Drilling progresses on 6,750m program to expand Orom-Cross Resources and
Reserves

 

Blencowe Resources (LSE: BRES) is pleased to provide an update on its 6,750m
drilling program at its Orom-Cross graphite project in Uganda.  The campaign,
which commenced in January is focussed on:

·    Stage 1 - Gathering geotechnical information to support mine design

·   Stage 2 - Infill drilling on the existing two deposits aiming to
convert significant volumes of existing Resources to Reserves

·    Stage 3 - Step-out exploration at two new exploration targets to
expand the overall Resource base.

Orom-Cross currently holds a JORC Resource of 24.5Mt @ 6.0% TGC, and the
Company is targeting a substantial upgrade.

Following the successful completion of Stage 1 (geotechnical drilling) in
February, Blencowe is pleased to report that Stage 2 (infill drilling) is now
also complete.

 

Highlights:

·    Infill drilling on both Northern Syncline and Camp Lode deposits -
completed

·    Geotechnical drilling for pit slope parameters - completed

·    Access roads upgrade for all weather use - completed

·    Permanent exploration camp construction underway

·    Third rig mobilised to fast-track step-out drilling

 

Drilling continues to progress on schedule with two rigs from Ugandan
contractor ADT operating on site with a third soon to be mobilised to
accelerate exploration at the Northern Syncline Western Limb and
new GT-01 targets.

28 infill holes at the Northern Syncline deposit have been drilled, logged,
and sampled, with 26 now ready for assay. A further 11 holes at the Camp Lode
deposit are complete, with sampling and logging underway. Initial observations
suggest consistent geology in line with existing resource models which
supports the goal of significantly increasing the Orom-Cross Resources and
Reserves classifications to underpin longer mine life and higher production
volumes in the ongoing DFS. It is anticipated that work thus far will have a
materially positive impact on DFS results.

Blencowe has also completed 8 geotechnical holes for pit slope assessment,
with samples now being tested in South Africa.

 

All drilling on the in-fill resources upgrade is completed. The third rig will
commence on additional resource extensions to the Northern Syncline (Western
Limb) and the new southern GT-01 target, both of which are in Stage Three (new
exploration) of the program.

Meanwhile, the Company has commenced construction of a permanent on-site
exploration camp, with prefabricated units imported from Turkey now being
installed. This tangible step demonstrates visible project advancement to key
stakeholders, including the Ugandan Government.

 

Executive Chairman Cameron Pearce commented:

"This latest drilling program continues to progress well, with both
geotechnical and infill drilling now completed. We are encouraged by the
consistent, high-quality graphite being intersected, and excited to begin
testing new targets at Northern Syncline and GT-01.

Independent estimates suggest Orom-Cross deposit could hold 2-3 billion tonnes
of graphite. While we don't need to drill all this out at once it does show
that we have scale, and we know our graphite quality is very high so future
demand will always be there.  This scale means we can drill out additional
Resources and Reserves in the future to meet accelerated demand forecast as
the energy transition gathers pace.

With high-quality product, scale, and a fast-track development strategy,
Orom-Cross is increasingly standing out as one of the most compelling graphite
projects globally."

 

Figure 1:  2025 drilling campaign at Orom-Cross

 

 

 

Figure 2:  day-night drilling campaign at Orom-Cross

 

Figure 3:  Logging core samples at Orom-Cross

For further information please contact:

 

For further information please contact:

 Blencowe Resources Plc  www.blencoweresourcesplc.com (http://www.blencoweresourcesplc.com)
 Sam Quinn               Tel: +44 (0)1624 681 250

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

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

 Tavira Financial
 Jonathan Evans          Tel: +44 (0)20 3192 1733

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

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

 LinkedIn                www.linkedin.com/company/blencowe-resources/
                         (https://www.linkedin.com/company/blencowe-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 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 is
completing the Definitive Feasibility Study phase shortly 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.

 

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