| Announcement Date: | 2022-04-11 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | Blencowe Resources Plc |
| Project name: | Orom-Cross |
| Location: | Uganda |
| Commodities: | Graphite |
| Highlight: | Updated Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Blencowe Resources (Blencowe or the Company) is pleased to report that results for its revised JORC Standard Resource estimation for the Orom-Cross Graphite Project located in northern Uganda have substantially exceeded expectations. A comprehensive infill drilling programme (Phase 6) was completed in 2H 2021 and the results have significantly increased the previously reported Mineral Resource to a position where sufficient ore tonnes required for the first 15 years life of mine are now available within the Indicated and/or Measured category. The modelling has also confirmed the robustness of the two higher grade zones within the main Northern Syncline deposit which surround a zone of medium grade graphite. The Measured, Indicated and Inferred Resources commence from surface outcrop to depth of current drilling at 30m, and the ore body remains open below this which represents considerable future potential tonnes into the future. These results, which come from the weathered, close-to or at-surface zone of the deposit, highlight the quality of the Project’s mineralisation and its ability to be a low-cost producer. The nature of the ore body will enhance the commercial outcome for the early years of operations at Orom-Cross by mining this higher-grade ore. |
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