REG - Blencowe Resources - Drilling Results

Blencowe ResourcesAnnouncement

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RNS Number : 7199A  Blencowe Resources PLC  25 September 2025

Date: 25 September
2025

 

Blencowe Resources Plc

("Blencowe" or the "Company"),

 

Initial Drill Results at Orom-Cross Highlight High Grade Shallow Zones

First assay results from latest 7,750m programme confirm extensions to orebody
and further high-grade zones

 

Blencowe Resources Plc (LSE: BRES) is pleased to announce the first batch of
assay results from its Stage 7 drilling programme at its Orom-Cross graphite
project in Northern Uganda.  This campaign, the largest in the Company's
history, included geotechnical holes, infill drilling and exploration drilling
across both the Camp Lode and Northern Syncline deposits, as well step-out and
deep drilling at the newly identified Beehive deposit.

Assays are being processed in batches for each component of the programme and
will be reported regularly as results are returned. The first results, from
the eight geotechnical holes drilled primarily to support pit design, have
returned strong graphite grades.

These results confirm extensions to mineralisation and highlight high-grade
zones within the existing deposits, further underscoring Orom-Cross's unique
combination of high grade, shallow ore and large-scale potential.

 

Highlights:

Camp Lode

·    Hole CLGT03: 27.54m @ 8.68% TGC, including 1.3m @ 18.98% TGC and 1.3m
@ 13.46%TGC

→ Confirms high-grade extensions to the orebody to the south-east.

·    Hole CLGT02: 3.96m @ 9.08% TGC at depth.

·    Shallow intersections in CLGT01 and CLGT04 confirm near-surface
mineralisation and potential to extend the pit to the north.

Significance: Adds higher-grade tonnes to the Camp Lode resource and
optimises mine scheduling for early production phases.

Northern Syncline

·      Hole NSGT02: 27.98m @ 4.61% TGC, including 5.57m @ 8.10% TGC
(majority <30m depth).

·      Hole NSGT04: 12.37m @ 6.09% TGC.

Significance: Confirms shallow, high-grade mineralisation continuity in
infill zones which are critical for low-cost, open-pitable production.

 

Drilling Programme Integration

·      Geotechnical data will feed directly into Definitive Feasibility
Study ("DFS") pit wall design and mine scheduling.

·      All results will be incorporated into the JORC Resource upgrade,
which is expected to deliver a material increase in Reserves to support
large-scale mining over life of mine.

·      Additional assays from infill, step-out and deep drilling
(Beehive deposit) programmes are expected shortly.

 

Construction of a Permanent Camp

Work is now underway on building a permanent camp at Orom-Cross which is
expected to support further exploration in 2026 and provide facilities for
contractors during the construction of the mine.  This permanent camp
represents the first tangible permanent structures on site which underlines
the progress being made.  With the DFS expected to be completed in Q4 2025
the next steps thereafter will be project funding and then construction of the
mine.

 

Executive Chairman Cameron Pearce commented:

"The results confirm high-grade extensions to both Camp Lode and Northern
Syncline, while reinforcing the advantage of shallow, easily mined ore that
underpins our low-cost production profile.

All this data will be fed directly into both our JORC Resource upgrade and the
Definitive Feasibility Study, which is due for completion in Q4 2025.
Increasing ore reserves at higher grades is a critical step and we expect this
to not only enhance the mine plan but also translate into a considerable
uplift to project economics and NPV.

Orom-Cross already benefits from a unique combination of attributes, including
abundant low cost national-grid hydropower, established roads and
infrastructure, and independent test work from both Wuhan University and
American Energy Technologies confirming some of the highest SPG purities
recorded (up to 99.99% GC). This underscores the exceptional quality of
Orom-Cross graphite and its suitability for premium battery-grade
markets. Together, these factors give Orom-Cross a rare blend of scale,
quality and deliverability that make it a truly bankable graphite opportunity.

With assays now beginning to come through and more results to follow we look
forward to a steady flow of updates, including the JORC upgrade and the DFS.
These milestones will showcase Orom-Cross as a standout global graphite
project, provide the platform to move directly into financing discussions, and
ultimately set the stage for a major value re-rating as we continue to
de-risk."

Preliminary drill results Camp Lode

 

Preliminary drill results Northern Syncline

 

Further Drilling Detail

The Company drilled four geotechnical holes in each of the Northern Syncline
and Camp Lode deposits. While primarily designed for geotechnical assessment
to inform pit wall design, all holes were sampled for assays and incorporated
into resource database.

At Camp Lode, these holes have indicated a possible extension to the orebody
in the south-east, with hole CLGT03 intersecting 27.54m @ 8.68%GC including 2
separate intersections of 1.3M with grades of 18.98%GC and 13.46%GC
respectively. These represent very high grades of graphite in comparison to
the overall Orom-Cross resource.  An additional intersection from hole CLGT02
of 3.96m @ 9.08%GC at depth and intersections near surface in holes CLGT01 and
CLGT04 indicate potential to extend the pit to the north.

Similarly, at Northern Syncline hole NSGT02 intersected 27.98m @ 4.61%GC
(including 5.57m @ 8.10%GC) and NSGT04 with 12.37m @ 6.09%GC. The intersection
from NSGT02 occurs within the area of the completed infill drilling with the
majority of the intersection occurring within 30 meters of the surface.  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, and this is considered a major advantage as
Blencowe drives towards first production.

The results from all eight holes will be included within the resource model
updates. The assay labs are continuing to prioritise the Orom-Cross samples
and the Company expects further results of the infill program shortly.

 

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 (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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