Blencowe Resources PLC JORC Resource Drilling Program Completed (4133T)
July 20 2020 - 1:00AM
UK Regulatory
TIDMBRES
RNS Number : 4133T
Blencowe Resources PLC
20 July 2020
Date: 20 July 2020 Blencowe Resources Plc
("Blencowe" or the "Company")
JORC Resource Drilling Program Completed at Orom-Cross Graphite
Project
The Company is pleased to advise it has now successfully
completed its diamond drilling program on its Orom-Cross Graphite
Project in Northern Uganda. The final data from the most recent
drilling will be combined with existing results and studies to
deliver a maiden JORC resource in Q3 2020.
Recent drilling since the last operation update of 2 July 2020
has focused on further infill and step out drilling at both the
Western Anomaly and also the newly discovered High Grade Camp Lode.
In total, 65 holes with a combined total meterage of 1,950m have
been drilled. Geological logging of the holes and core sample
delineation has been completed on this latest drilling and will
shortly move the remaining samples to the assay labs in
Tanzania.
The drill sites are currently being rehabilitated and the
drilling teams departed from site at the weekend. Despite an
overall increase in drilling metres following the discovery of a
high grade zone, the drill program was successfully completed
within budget and without incident. A local team will remain at
site for security maintenance.
The drill program was designed to delineate approximately 8 to
10 million tonnes to a JORC (2012) Indicated standard, which would
provide the initial resource for 10 years of mining. Initial
results suggest the Company will achieve that objective and that
there is a significant weighting of higher value jumbo, extra-large
and large flake sizes within the identified resource. The area
targeted on this initial drilling campaign represents less than 1%
of the Project acreage and the Company is well positioned to expand
reserves and ultimately production should demand dictate.
Cameron Pearce Executive Chairman's commented:
"Despite the various challenges faced by Covid-19 restrictions
our in-country partners ADT Drilling and Minrom have completed a
highly successful drill program in good time. In the process we
discovered a new high grade lode which will add value to our
overall project. The next step is to move the remaining samples for
assaying and ultimately to deliver a JORC Resource in the current
quarter.
The Phase Two metallurgical test work for Orom-Cross is well
underway as we continue to build our knowledge of our end product
ahead of engaging in discussions with interested parties.
I look forward to updating the market in due course on both of
these fronts."
For further information please contact:
Blencowe Resources Plc
Sam Quinn (London Director)
www.blencoweresourcesplc.com
Tel: +44 (0)1624 681 250
info@blencoweresourcesplc.com
Brandon Hill Capital Limited
Jonathan Evans (Corporate Finance) Tel: +44 (0)20 3463 5000
jonathan.evans@brandonhillcapital.com
Background
Orom-Cross is a potential world class graphite project both by
size and end-product quality, with a high component of larger
flakes identified from previous work performed. A 21-year Mining
Licence was issued by the Ugandan Government in 2019 following
extensive historical work on the deposit.
Orom-Cross presents as a large, shallow open pitable deposit,
with an estimated resource in excess of 3 billion tonnes of
graphite. 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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END
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