REG - Blencowe Resources - Iyan - Further Significant Graphite Intercepts

Blencowe ResourcesAnnouncement

06/02/2026 07:00

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RNS Number : 9675R  Blencowe Resources PLC  06 February 2026

6 February 2026

 

Blencowe Resources Plc

("Blencowe" or the "Company"),

 

Iyan Deposit Delivers Further Significant Graphite Intercepts from Surface

Second Assay Batch Reinforces Bulk Blending Strategy and Resource Growth

 

Blencowe Resources Plc (LSE: BRES) is pleased to report a further set of assay
results completed from 12 shallow holes drilled at the Iyan deposit, part of
the Company's Orom-Cross Graphite Project in Uganda. These results represent
the second batch from the Stage 7 drilling programme.

Iyan forms the western extension of the Northern Syncline graphite system and
is being advanced as a bulk blending deposit intended to provide consistent,
near-surface, high tonnage graphite feed to support long-life, low-cost
production. While bulk-tonnage graphite deposits are typically associated with
moderate grades, results at Orom-Cross continue to demonstrate that bulk
mineralisation is accompanied by repeated higher-grade zones, providing
flexibility within mine planning for blending and value optimisation.

These latest shallow holes were drilled to approximately 30 metres depth,
deliberately selected to define near-surface mineable material rather than
test geological limits. Mineralisation was intersected from surface in most
holes, with several ending in mineralisation indicating potential for
continuation below the current drilling depth. This is consistent with all
previous results at Iyan.  Deeper drilling to approximately 100 metres at
both Iyan and the nearby Beehive deposit has already demonstrated
mineralisation persists at depth, supporting the potential for future depth
extensions to be evaluated and enhanced mineral resource estimates.

 

Iyan Drilling - Key Takeaways

·      Second assay batch confirms thick, laterally continuous
near-surface graphite mineralisation

·      Multiple intercepts of >30m from surface, with several
holes ending in mineralisation

·      Iyan is being developed as a bulk blending deposit, supporting
efficient, low-strip mining

·      Higher-grade zones persist within bulk mineralisation, enhancing
blending flexibility

·      Results continue to support near-term resource growth and scale
expansion, underpinning an updated JORC estimate and strengthening the basis
for larger-scale, longer-tenor mining,  funding and downstream offtake
discussions

 

Selected Significant Shallow Intercepts - Iyan Deposit

(Downhole intervals; mineralisation from surface unless stated otherwise)

·      NSDD-L705: 31.20m @ 6.84% TGC, including 12.16m @ 10.89%
TGC (ended in mineralisation)

·      NSDD-L707: 30.20m @ 7.55% TGC, including 5.0m @ 11.74%
TGC (ended in mineralisation)

·      NSDD-L1003: 30.27m @ 6.27% TGC, including 6.0m @ 8.59%
TGC and 8.0m @ 8.29% TGC (ended in mineralisation)

·      NSDD-L706: 30.76m @ 5.27% TGC, including 8.01m @ 8.55%
TGC (ended in mineralisation)

·      NSDD-L1104: 25.20m @ 5.90% TGC, including 7.00m @ 7.54%
TGC and 4.08m @ 8.15% TGC (ended in mineralisation)

 

These results are consistent with the broader Orom-Cross system and support
mine planning, blending and downstream optionality.

JORC Update Q1 2026

Additional assay results have now been passed to Blencowe's independent
geological consultants, Minrom, for validation, with further batches
continuing to be received. Results will be reported progressively and are
expected to feed into an updated JORC resource estimate in Q1 2026, providing
further clarity on scale and mine life as funding and downstream discussions
advance.

Beehive Drilling Results Pending

In parallel, the Company continues to advance work on assay results at the
nearby Beehive deposit, where earlier deep drilling results returned very
strong grades at depths of up to approximately 100 metres. Assay results from
the completed shallow drilling programme at Beehive, comprising over 100
holes drilled to approximately 30 metres, remain pending and are expected to
be reported regularly in batches.

 

Blencowe Resources Executive Chairman, Cameron Pearce commented:

"Iyan continues to deliver exactly what we are looking for at this stage,
with consistency, scale and quality at shallow depth. Even as a bulk blending
deposit, we continue to see higher-grade zones within thick intersections,
which is a very attractive characteristic for mine planning and long-life
production.

With many holes again ending in mineralisation, and deeper drilling at both
Iyan and Beehive already demonstrating continuity to around 100 metres, we
see clear scope to evaluate depth extensions in due course.

These results align with increasing Western focus on securing long-term
supplies of critical minerals outside China. Continued drilling success
strengthens the resource base that underpins longer-life development
scenarios and supports larger-scale, longer mine life, and will assist with
funding discussions and offtake discussions underway.  We will look to get
out all remaining Iyan and Beehive drill results in February and build toward
the next Orom-Cross resource update thereafter."

 

 

 

 

Iyan Deposit - Key Drill Results

Figures 1-2: Iyan Deposit drill sections showing thick, continuous graphite
mineralisation remaining open at depth.

 

 

For further information please contact:

 

 Blencowe Resources Plc                   www.blencoweresourcesplc.com (http://www.blencoweresourcesplc.com/)

 Sam Quinn (Director)                     Tel: +44 (0)1624 681 250

                                          info@blencoweresourcesplc.com (mailto:info@blencoweresourcesplc.com)

 Sasha Sethi (Investor Relations)         Tel: +44 (0) 7891 677 441

                                          sasha.sethi@blencoweresourcesplc.com
                                          (mailto:sasha.sethi@blencoweresourcesplc.com)
 Tavira Financial (Joint Broker):

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

                                          jonathan.evans@tavira.group (mailto:jonathan.evans@tavira.group)
 Oak Securities (Joint Broker):

 Calvin Man /Mungo Sheehan / Jerry Keen   Tel: +44 (0)20 3973 3678

 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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