Blencowe Resources PLC Drilling Results Northern Syncline (0030B)
08 February 2022 - 5:59PM
UK Regulatory
TIDMBRES
RNS Number : 0030B
Blencowe Resources PLC
08 February 2022
8 February 2022 Blencowe Resources Plc
("Blencowe" or the "Company")
Blencowe confirms Successful Infill Drilling on Northern
Syncline Lode at Orom-Cross Graphite Project
Blencowe is pleased to provide a further update to the
comprehensive JORC Resource diamond drilling program that was
completed in 2H 2021 on its Orom-Cross Graphite Project in
Uganda
Highlights
-- Drilling at the Northern Syncline Lode delivers some
outstanding high grade graphite results in the oxide zone
including:
o ORNS-L902, 11 metres at 9.01%TGC from 4 metres
o ORNS-L1502, 10 metres at 11.00% TGC from surface and 12m
@10.91%TGC from 13 metres
o ORNS-L1602, 17 metres at 8.97% TGC from surface
o ORNS-L1206, 3 metres at 12.43%TGC from surface
o ORNS-L1204, 6 metres at 10.12% TGC from 3 metres
o ORNS-L1202, 20 metres at 9.24% TGC from 4 metres
-- These results will strengthen the updated JORC Standard Mineral Resource Estimate and
Reserve determination for the Northern Syncline Lode scheduled
for release in late February
Blencowe Resources Plc ("Blencowe Resources") (LSE: BRES) is
pleased to announce exceptional high-grade drilling results which
will help to strengthen the updated JORC Mineral Resource and
Reserve Estimate update at its Orom-Cross graphite project in
Uganda, scheduled for release by end February 2022.
The results highlight the quality of the Project's
mineralisation and ultimately its ability to be one of the lowest
cost producers of graphite concentrate internationally.
The drilling targeted mainly infill zones the weathered zone of
the Northern Syncline deposit, and was planned so as to provide a
basis for upgrades in Resource classification as well as extensions
to existing high-grade oxide mineralisation. The spectacular
near-surface intercepts confirm existing geological interpretations
as well as grade continuity over the strike length of the Northern
Syncline in a similar way to the recent Camp Lode results as
recently announced.
The Northern Syncline deposit has been subjected to a diamond
drill hole program on a 25 metre by 12.5 metre grid. The drilling
was specifically designed to provide sufficient information to
enable the classification upgrade of resources at the Northern
Syncline deposit into the Measured and Indicated categories and
enable an updated JORC Resource Estimate on the Northern
Syncline.
All the holes to date have returned visible grade graphite over
the majority of 30m of intersection, with weathering extending to
within 5m of the base of the holes in most cases. This may present
Blencowe with further high-grade ore for initial mining which could
have significant advantages to both mining costs and product
quality. Subsequent logging by the Company's geologists has
identified zones of large to jumbo flakes in the core.
The core has been assayed at SGS in Perth, Western Australia
using the method C-IR18. The method is appropriate for
understanding graphite deposits and is a total method.
Blencowe Resources continues to review the sample assays and
QA/QC checks are expected to be completed shortly enabling the
company to proceed to finalising the revised and upgraded Mineral
Resource Estimate.
Executive Chairman Cameron Pearce commented;
"Our drilling campaign for 2021 has returned very positive high
grade results for both the Northern Syncline and Camp Lode
deposits, which will assist Blencowe to complete a revised JORC
Resource Estimate in the next few weeks. We are also pleased to see
options emerging for higher grade early stage mining which will
positively impact operational costs."
He added "We are largely completed in terms of drilling at
Orom-Cross and we do not require any further major campaigns in
order to commence mining ahead."
For further information please contact:
Blencowe Resources Plc www.blencoweresourcesplc.com
Sam Quinn Tel: +44 (0)1624 681 250
info@blencoweresourcesplc.com
Investor Relations Tel: +44 (0) 7891 677 441
Sasha Sethi sasha@flowcomms.com
Tavira Securities Tel: +44 (0)20 7100 5100
Jonathan Evans Jonathan.evans@tavirasecurities.com
First Equity Limited Tel: +44(0)20 7330 1833
Jason Robertson jasonrobertson@firstequitylimited.com
Twitter https://twitter.com/BlencoweRes
LinkedIn 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 coarse 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 moving into the studies phase shortly 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 16.3Mt @ 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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