REG - Blencowe Resources - Stage 7 Drill Program Completed

Blencowe ResourcesAnnouncement

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RNS Number : 3916R  Blencowe Resources PLC  17 July 2025

Date: 17 July 2025

Blencowe Resources Plc

("Blencowe" or the "Company")

 

Stage 7 Drill Program Completed at Orom-Cross Graphite Project

Largest campaign to date confirms scale, delivers critical DFS inputs, and
supports JORC resource upgrade

 

Blencowe Resources Plc ("Blencowe" or the "Company") is pleased to announce
the successful completion of its Stage 7 drilling program at the Orom-Cross
Graphite Project in Uganda. This campaign, the largest in the project's
history, was a core milestone for the ongoing Definitive Feasibility Study
(DFS), both in terms of upgrading and expanding the JORC Resource and
fulfilling the requirements for the US$5.0 million Technical Assistance Grant
from the US International Development Finance Corporation (DFC).

Highlights:

·    6,750 metres drilled across 239 holes - largest single drilling
campaign in Orom-Cross history.

·    JORC upgrade underway - data supports conversion of resources from
Inferred/Indicated to Measured categories following completion of infill
drilling at existing deposits.

·    Geotechnical drilling completed - supporting pit wall design and
tailings layout for the DFS.

·    Exploration success at new 'Beehive' deposit - brand new graphite
zone confirmed 3 kms apart from the two existing graphite deposits.

·    Deep drill holes at both Beehive and Northern Syncline confirm scale
- graphite mineralisation continues over 100 metres, 3 times deeper than
previous drilling.

·    Permanent exploration camp construction - underway.

·    Samples at JORC accredited laboratories - first assay results
expected imminently.

 

All rigs from local drilling contractor ADT are now demobilised from site.
Final core logging and sampling are underway, with remaining samples from the
deep hole drilling now despatched to Kampala for Mines Department inspection
prior to being transported to the independent and JORC accredited laboratories
in Tanzania to be assayed,

Drilling Program Summary

The Company focussed on four specific phases within the Stage 7 drill program.

Phase 1: Geotechnical (8 holes, 590 metres)

Drilled across Camp Lode and Northern Syncline (East) to gather information on
rock strengths and characteristics to support DFS pit design, waste dump wall
slopes for stability, and tailings planning.

Phase 2: Infill (39 holes, 1,181 metres)

Targeted both main deposits to upgrade 24.5Mt existing JORC resource into
Measured/Indicated categories giving greater confidence in the estimation of
both grade and tonnage.

Phase 3: Resource Expansion (186 holes, 5,581 metres)

Drilling new zones at Northern Syncline West (70 holes) and the Beehive
deposit (116 holes).  Early indications suggest both zones could match or
exceed the tonnage of current resources, with the Beehive deposit specifically
selected due to higher grade intercepts from drilling and trenching in earlier
exploration work.

Resource expansion will deliver additional processing capacity, higher
production volumes and a longer mine life, all of which add to the overall
Orom-Cross value.

Phase 4: Deep Exploration (6 holes, 721 metres)

Tested mineralisation continuity at 100+ meter depth in both Beehive and
Northern Syncline deposits. All holes ended in graphite which highlights the
potential for a significantly larger resource.

All previous drilling has been focused on the near surface 'oxide' materials
within 30 metres of surface which will be more cost-effective to mine but
drilling in all of these 6 deep holes has shown the continuation of ore
bearing zones through to end of the holes, indicating the ore zones continue
at depth as shown in earlier drill programs.

These deep holes support the view of a potentially multi-billion tonne
resource, originally proposed by independent geological consultant Minrom.
Further step-out drilling could unlock even more value in future phases.

 

Graphite Quality and Grade

Mineralisation across all 239 holes remains consistent with previous
campaigns.

·      Higher-grade results are expected from Beehive based on
historical evidence.

·      Orom-Cross graphite demonstrates exceptional characteristics at
96-97% TGC concentrate, as well as 99.95%-99.99% TGC purified graphite.

·      In-situ flake size distribution (~70% large flakes) remains a key
competitive advantage.

 

Current JORC Resource (pre-upgrade)

 Area                Classification  Millions tonnes  % Total Carbon
 Northern Syncline:  Measured        1.0              5.70
                     Indicated       10.4             5.85
                     Inferred        10.6             5.78
 Sub-Total                           21.90            5.80
 Camp Lode:          Indicated       1.9              7.40
                     Inferred        0.6              7.50
 Sub-Total                           2.5              7.42
 TOTALS              Measured        1,0              5.70
                     Indicated       12.3             6.09
                     Inferred        11.2             5.87
 TOTAL                               24.5             6.0

As part of the finalisation of the Definitive Feasibility Study and the
completion of the Stage 7 drilling program Blencowe intends to deliver a
revised JORC Standard Mineral Resource within the near term.

 

Figure 1:  Stage 7 drill holes for two separate deposits (Northern Syncline
and Beehive)

 

 

 

Executive Chairman Cameron Pearce commented:

 

"This latest drilling campaign has delivered excellent results against all the
objectives. We have always believed in the size, scale and high quality of the
Orom-Cross graphite deposit, but this drill program has gone a long way to
verifying that we have all these key attributes to establishing a tier one
graphite asset.

We achieved all our objectives - gathering essential geotechnical data to
complete mine design, infill drilling to substantially upgrade the existing
resource, and exploration to extend an existing deposit and thereafter to
locate and discover a brand-new deposit.  Importantly, the six deeper holes
drilled at the end of the program confirmed graphite mineralisation well
beyond 100 metres depth - three times deeper than before - with ore zones
still open at depth.

"These results continue to strengthen the case for Orom-Cross as a large,
long-life and multi-cycle asset with exceptional product quality. Our focus
now turns to integrating this into the DFS to demonstrate the full commercial
value of the project within the global graphite supply chain."

 

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 Securities          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 now
completing 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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