REG - Blencowe Resources - SPG Test Work Completed

Blencowe ResourcesAnnouncement

30/10/2023 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231030:nRSd6862Ra&default-theme=true

RNS Number : 6862R  Blencowe Resources PLC  30 October 2023

30 October 2023

Blencowe Resources plc

 

Successful Completion of Orom-Cross Graphite Project SPG Test Phase

Recent testwork has confirmed the quality of Orom-Cross graphite concentrate
to generate a high purity SPG product with excellent battery characteristics

 

Highlights:

·    Blencowe has successfully completed critical next-step metallurgical
test work with initial stage SPG ("spheronised purified graphite") upgrading
now completed.

·    Test work was completed by two separate graphite technical experts to
ensure quality control and quality assurance:

o  Leading Chinese graphite laboratory at Wuhan University, which realised
SPG values of 99.96 wt%C.

o  Leading American graphite firm American Energy Technology, which generated
SPG with purity values of 99.99 wt%C.

·    These results prove that Orom-Cross graphite can upgrade into one of
the purist SPG products, which will strengthen offtake negotiations and
ultimately deliver more value to the project.

·    Additional metallurgical test work proceeding with samples of
uncoated SPG and other flake sizes distributed to potential off-takers and
battery manufacturers.

 

Executive Chairman Cameron Pearce commented:

"The ultimate pre-qualification test for all graphite is how the concentrate
upgrades to the 99.95% SPG product that then gets coated before going into the
anode within the lithium-ion battery, and I am delighted to present these
outstanding results above, which indicate that exceptional SPG products will
be produced from Orom-Cross.  Not only are we at the highest levels on most
relevant indicators but testing has shown we can deliver other valuable
products from waste material generated within the process which further
strengthens our commercial model."

 

Mr Pearce added "We are into one of the most important aspects of our
Definitive Feasibility Study, where these tests ultimately prove the quality
of the various end products we will produce, and therefore determine offtake
interest and contracts.  Passing these tests with flying colours is further
proof that Orom-Cross is a standout project, and in a world where graphite is
becoming increasingly under the spotlight as the supply chain tightens, this
is of significant value."

 

 

 

 

Blencowe Resources Plc ("Blencowe" or the "Company"), is pleased to announce
that additional test work on its Orom-Cross graphite project in Northern
Uganda has been completed by two leading graphite technical specialist
laboratories in both China and United States.  Wuhan University in
conjunction with Qingdao Jinhui Graphite Co., Ltd in China and American Energy
Technologies Company (AETC) in Illinois are both industry experts in the field
of upgrading graphite concentrate to uncoated battery-ready SPG product.
This work is critical to understanding the commercial potential of the fines
concentrate specifically for utilisation as anode materials in the lithium-ion
batteries for EVs (electric vehicles) and wider rechargeable battery markets.

In line with this testwork flow sheet, graphite concentrate, which is
comprised of robust and thick natural flakes, was first purified then
converted into a range of value-added graphite products, with a major focus on
the production of spherical uncoated and spherical surface-coated materials
intended for use in lithium-ion battery anodes.

Wuhan University in conjunction with Qingdao Jinhui Graphite Co., Ltd (one of
the largest SPG producers in China) have completed preliminary assessment of
Orom-Cross fine concentrates with the generation and subsequent testing of
uncoated SPG products, following the recent 100t pilot test program. The
resultant testwork has delivered an uncoated SPG product with a 99.96% purity
and outstanding size distribution and characteristics. The samples generated
by Wuhan University have been forwarded to battery manufacturers for coating
and initial battery testing.

In parallel Blencowe also commissioned AETC to complete an assessment of the
SPG potential of the Orom-Cross product. This testing was completed at the
AETC facilities in Chicago utilising their Thermal Conversion Process. The
value-added downstream processing of concentrate from Orom-Cross has occurred
in accordance with the inverted flow sheet practiced by AETC which is unique
in the market. Blencowe chose AETC to undertake comparable testwork in part
due to its capacity to deliver the uncoated, coated and battery testwork
within a non-acid production process.  Producing SPG products in a non-acid
process would have profound environmental advantages that would boost
Orom-Cross's ESG credentials substantially.

After purifying the material using high temperature (but no acid or alkaline
treatment) to a level of 99.99 wt% C, AETC subjected it to spheroidisation and
classification. The resultant graphite has a very impressive tap density (read
'energy density') of 1.1 g/cm(3), with a surface area of <10 m(2)/g.  Both
of these indicators highlight an extremely high grade end product.

The uncoated graphite was tested in the industry-standard CR2016 coin cells v.
Li/Li+ counter electrode at C/10 charge-discharge rate. The material was seen
to deliver very impressive reversible capacity of 367.58 mAh/g which is
defined as "near theoretical" electrochemical performance, considering that
theoretical capacity is 372 mAh, and hardly any graphite has been able to
achieve this historically in practical applications.  This indicator alone
ranks Orom-Cross graphite as high as any other SPG product elsewhere.

The uncoated material was also surface-coated to form CSPG ("coated
spheronised purified graphite"), which is the ultimate form of battery-ready
graphite that goes into the anode. Application of surface coating makes
batteries that use such graphite safer; additionally, graphite anodes which
are composed of surface-coated graphite tend to have lower irreversible
capacity loss, a key property linked to management of electrolyte levels
inside an operating lithium-ion battery.

The coated material was put into batteries and subjected to short and
long-term cycling. The carbon-coated version of this graphite displayed
excellent electrochemical performance, with a reversible capacity loss and
reversible capacity constituting near theoretical electrochemical behaviour
which positions the material from Blencowe into the class of super-premium
anode grade graphite for use in lithium-ion battery anodes.

The long-term cycling of this material has retained an excellent stability of
performance characteristics as a function of cycle life, having scored a very
low 1.39% degradation. Testwork suggests that Orom-Cross graphite can support
1,438 cycles while the United States ABC requirement for EV batteries is 1,000
charge-discharge cycles. Therefore, with nearly 50% additional cycles, the
Orom-Cross material is again highlighting its premium quality and is ideally
suited for application in the lithium-ion battery anodes.

It is worth noting that the non-spherical portion of Blencowe's graphite
(which accounted for approximately 25.6% of feed into the AETC spheroidising
process) generated expanded delaminated graphite and spheroidisation process
rejects, which were formulated into the composition of alkaline, lead acid
batteries and an electrically conductive can coating. In all instances, the
non-spherical portion of Blencowe's material offered outstanding performance,
positioning Blencowe for cost leadership in that there is a strong likelihood
that near 100% of all the graphite which enters a downstream processing
circuit will find use in value-added applications within batteries.

Blencowe is now proceeding with additional metallurgical test work with
additional samples of uncoated SPG and other flake sizes distributed to
potential off-takers and battery manufacturers for upgrades to large flake as
well as opportunities for utilisation of SPG wastes.

 

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 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 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  MSCURUNRONURORA