REG - Blencowe Resources - Northern Syncline Drilling Results

Blencowe ResourcesAnnouncement

31/10/2025 07:10

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RNS Number : 6673F  Blencowe Resources PLC  31 October 2025

Date: 31 October 2025

Blencowe Resources Plc

("Blencowe" or the "Company"),

 

Final Infill Results Confirm Continuity and Scale at Orom-Cross

JORC Resource upgrade and Reserve conversion now underway -

Expected completion approximately two weeks

 

Highlights:

·      Final infill assay results from the Northern Syncline deposit
completes all drilling required for the JORC Resource and Reserve update (now
in progress).

·      JORC update expected within approximately two weeks, feeding
directly into the Definitive Feasibility Study (DFS) which remains on track
for completion before year-end.

·      Northern Syncline infill drilling confirms broad, consistent
mineralisation throughout the oxide zone, demonstrating strong grade
continuity and the large-scale nature of the orebody.

·      Camp Lode and Northern Syncline together underpin the DFS mine
plan, balancing high-grade near-surface ore with larger-scale bulk tonnage for
long-term production.

·      Step-out exploration drilling at the new Lyan (Northern
Syncline western limb extension) and Beehive deposits has concluded, with
assay results expected to follow post-DFS to provide additional exploration
upside.

 

Blencowe Resources Plc (LSE: BRES) is pleased to announce the final assay
results from its Stage 7 drilling programme at its Orom-Cross graphite project
in northern Uganda. These results mark the completion of the infill drilling
phase and they provide the last data required to finalise the JORC Resource
and Reserve update, which is a key input into the Definitive Feasibility
Study (DFS) due for completion by December 2025.

The Northern Syncline represents Orom-Cross's largest deposit and the bulk
of the long-term mine plan. The latest infill assays have returned strong
graphite intersections across the full depth of the oxide zone, highlighting
the remarkable continuity of this orebody. The strategy was to close gaps from
earlier campaigns to improve geological confidence and to upgrade the
classification of Resources to Reserves.

These results follow the strong Camp Lode assays reported earlier this month,
which confirmed a series of high-grade, near-surface zones ideal for
early-stage mining and cash flow generation. Together, these deposits provide
both high-grade starter feed and long-life scalability, strengthening
overall project economics and underpinning a robust mine plan for Orom-Cross.

 

Selected Northern Syncline Drill Results:

·    Hole L2301: 20.57m @ 6.52% TGC.

·    Hole L2302: 25.08m @ 4.98% TGC, including 4.9m @ 7.90% TGC and 4.1m @
9.30%TGC

·    Hole L1901: 23.07m @ 4.36% TGC, including 7.45m @ 6.53% TGC and 4.87m
@ 6.37%TGC.

·    Hole: L2202: 21.52m @ 5.01% TGC, including 8.24m @ 7.51%TGC and 3.27m
@ 6.33%TGC.

·    Hole L2102: Mineralisation from surface to 30.4m, including 7.02m
@6.01%TGC.

Significance:  These results confirm continuous mineralisation and add
additional tonnes to the Northern Syncline, optimising mine scheduling for
early production phases.

 

Further Assays and Next Steps

The Stage 7 drilling programme, totalling 7,750 metres, is now concluded.  It
combined infill and geotechnical drilling across Camp Lode and Northern
Syncline with step-out exploration at Lyan, Beehive and the deep holes.

All infill and geotechnical data are now being incorporated into the updated
geological model, which will underpin detailed mine design, pit optimisation
and sequencing for the DFS. This information will also feed into the JORC
Resource upgrade, which is expected to deliver a material increase in
Reserves to support a longer mine life at higher production rates.

While the Lyan, Beehive and deep holes assay results will not form part of
the imminent JORC update, these zones have shown promising continuity along
strike and at depth, confirming significant exploration upside. Their results
will be reported post-DFS and will support the definition of a new
Exploration Target as the basis for further growth in the JORC Resource in
2026.

Blencowe now has four active graphite deposits at Orom-Cross, being Northern
Syncline, Camp Lode, Lyan and Beehive, with each continuing to demonstrate
outstanding scale, grade and continuity.

 

Executive Chairman Cameron Pearce commented:

"We are pleased to share these latest results from the Northern Syncline,
which underline the incredible continuity within this orebody.  The length of
these intersections and their shallow nature combine to allow for low strip
ratios and an overall reduction in mining costs, which is a critical
requirement for success ahead."

This drill programme continues to highlight that Orom-Cross has substantial
volume of graphite near to surface, it has high grade zones, it continues at
depth, and it has continuity.  When we add the very high quality end products
confirmed by international test work, we believe we are developing one of the
premier graphite ore bodies in the world.

What also makes this so remarkable is that we have still only drilled a small
fraction of Orom-Cross overall which provides huge upside potential ahead.

As we move toward the DFS release and project financing discussions, we
continue to see exceptional technical validation and growing interest from
institutional and strategic partners worldwide."

Preliminary drill results Northern Syncline

 

Further Drilling Detail

The Company drilled 39 diamond drillholes in the Northern Syncline deposit as
part of a resource infill and upgrade exercise. At Northern Syncline these
holes have fulfilled the intended purpose by infilling the gaps from the
previous drill programs as the Company takes a measured and methodical
approach to the confirmation and upgrade of the resource classification for
the deposit.

Blencowe is extremely buoyed by these results as they indicate the consistent
and continuous nature of the mineralisation along the strike of the deposit
but also over the depth of the oxide zones to 30 meters. This bodes well for a
reduction in operational costs with good indicators for a lower stripping
ratio and the thus more efficient utilisation of the equipment and lower costs
with associated waste handling.

The intersections from the program all indicate the consistent and known
nature of the Northern Syncline deposit as a large volume deposit averaging
5-6%TGC and this confirms the expectations of Blencowe and enables
optimisation of the processing to reduce costs and increase recovery of the
graphite flakes.

As highlighted previously the ability to mine substantial volume of graphite
from shallow depths contributes to Orom-Cross having operating costs sitting
within the lowest percentile of graphite projects worldwide, which is
considered a major advantage as Blencowe drives towards first production. The
consistent nature of the grade and ore characteristics within the deposit
benefits the Company in that it will be able to ensure that regular, reliable
high quality products are delivered long-term to offtakers, and these are
factors that offtakers require above all else.

 

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

 

 

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

 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 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
finalising 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.

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