REG - Blencowe Resources - Beehive Final Assay Results

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RNS Number : 4725C  Blencowe Resources PLC  30 April 2026

Date: 30 April 2026

 

Blencowe Resources Plc

("Blencowe" or the "Company")

 

Final Assay Results Received Ahead of Maiden Beehive JORC Resource

Multiple +30m Intercepts Continue to Reinforce Scale and Upside at Orom-Cross

 

Blencowe Resources Plc (LSE: BRES) is pleased to provide the final assay
results from shallow drilling at the Company's new Beehive deposit, one of two
substantial new deposits (together with Iyan) recently delineated at the
Company's Orom-Cross Graphite Project in Uganda.

As part of the Stage 7 drilling programme, the Company completed 110 shallow
drill holes at Beehive, to test the continuity, thickness and near-surface
extent of graphite mineralisation. This announcement reports the final batch
of assay results received (40 holes), positioned predominately to the south of
the target area, completing the shallow assay dataset for Stage 7 ahead of the
Company's next major resource milestones.  This will include a maiden JORC
Mineral Resource for Beehive and an updated JORC Mineral Resource for the
wider Orom-Cross system.

The shallow Beehive programme was designed to define near-surface, bulk
minable graphite mineralisation, with holes drilled to a planned depth of
approximately 30 metres.  Importantly, the majority of reported holes
intersected graphite mineralisation from near surface to end-of-hole, with
many holes ending in mineralisation, supporting potential for continuation
below the current shallow drilling depth.  This interpretation remains
consistent with the previously reported deeper drilling at Beehive, which
demonstrated mineralisation continuing to approximately 100 metres depth.

The Company notes that, while this shallow programme was not intended to
close out the southern extent of the deposit, results continue to support
potential extensions within the broader target area, particularly toward the
western end of the deposit.

With assaying now complete, the Company's independent geological consultants
have progressed a preliminary mineralisation model highlighting potential
extents of the deposit in the hinge area at Beehive.  This is in addition to
advanced modelling for the upcoming maiden JORC for Beehive where a material
update is expected.

 

Beehive Drilling Highlights (final 40 shallow holes)

·      Final assays before JORC: this batch completes the remaining
shallow results ahead of a maiden Beehive JORC Resource and a wider Orom-Cross
JORC Resource upgrade

·      Thick near-surface mineralisation: multiple holes deliver long
intervals from surface within the near-surface envelope

·      High-grade zones within bulk mineralisation: strong grades
continue to occur within the broader mineralised package

·    Average grades are consistent with DFS assumptions, with multiple
higher-grade zones within bulk mineralisation.

·    Step-out upside: drilling indicates potential extensions to the west
and south of the target area.

·    Selected significant intercepts include:

o  BHDD-L327: 0-30.8m | 22.23m true width (TW) @ 7.73% total graphitic carbon
(TGC)

o  BHDD-L331: 3.68-31.0m | 20.85m TW @ 7.67% TGC

o  BHDD-L335: 2.0-31.0m | 22.64m TW @ 6.30% TGC

o  BHDD-L402: 9.04-31.4m | 18.88m TW @ 6.67% TGC

o  BHDD-L404: 15.25-31.5m | 11.88m TW @ 6.68% TGC

o  High-grade zone: BHDD-L310: 0-3.3m | 2.9m TW @ 10.30% TGC

o  BHDD-L307: 0.78-18.32m | 13.79m TW @ 6.89% TGC

o  BHDD-L403: 0-9.0m | 6.94m TW @ 7.68% TGC

(TGC refers to Total Graphitic Carbon. TW = true width.)

 

Interpretation and Next Steps

These results continue to support the interpretation of a thick graphite
system at shallow depths, while previously reported deeper drilling
demonstrates mineralisation continuing to approximately 100 metres depth.
Together, the shallow and deep datasets provide the basis to define the
near-surface component and the wider vertical growth runway at Beehive.

Beehive has been defined over approximately 1,200 metres of strike and 480
metres of width to date and remains open for step-out extensions to the north
and west (particularly toward the western end of the deposit), and to the
south; this is in addition to depth continuity below the current shallow ~30m
drilling horizon.

Modelling is now at an advanced stage and the Company expects to issue a
maiden Beehive JORC Mineral Resource shortly (subject to finalisation of the
model and reporting). Based on the thickness, continuity and grade profile
demonstrated across the programme, together with the defined footprint of the
deposit to date, the Company believes Beehive has the potential to represent a
material addition to the Orom-Cross resource inventory.  The Company will
also provide an updated total Orom-Cross JORC Mineral Resource at the same
time.

 

Blencowe Resources Executive Chairman, Cameron Pearce commented:

"Beehive continues to deliver thick mineralisation from surface with strong
continuity and higher-grade zones within the broader envelope. Standout
results in this batch include BHDD-L327: 22.23m TW @ 7.73% TGC, BHDD-L331:
20.85m TW @ 7.67% TGC and BHDD-L402: 18.88m TW @ 6.67% TGC, alongside
BHDD-L310: 2.9m TW @ 10.30% TGC.  These all have long intersections of
shallow high grade graphite which support low cost mining.  Through extensive
metallurgical testing via experts worldwide we have already proven the high
quality of Orom-Cross graphite as both concentrates and purified products.
Scale and quality together are very valuable.

With mineralisation previously demonstrated to around 100 metres depth and the
deposit open for step-outs to the north and west and to the south, we believe
Beehive has the potential to be a material addition to Orom-Cross, subject to
JORC reporting. Modelling is now well advanced and we expect to issue a maiden
Beehive JORC Mineral Resource shortly, which will also provide an updated
Orom-Cross JORC Resource. We continue to progress strategic and funding
discussions in parallel, with offtake interest remaining strong."

 

Beehive Deposit - Preliminary Mineralisation Model

.

 

 

Beehive Deposit - Key Drill Results

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

 

 

 

 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 (Northern Syncline Western Limb) and Beehive (GT 01a)
deposits.

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