Blencowe Resources PLC Metallurgical Test Work (5082Z)
May 24 2021 - 1:00AM
UK Regulatory
TIDMBRES
RNS Number : 5082Z
Blencowe Resources PLC
24 May 2021
Date: 24 May 2021 Blencowe Resources Plc
("Blencowe" or the "Company")
Metallurgical Test Work delivering Positive Results for
Blencowe's Orom-Cross Project
Highlights
-- Preliminary tests within stage two at SGS Lakefield have
confirmed the potential to achieve a concentrate grade between
95-96% TGC with low impurities and high recoveries, from both the
Northern Syncline and Camp lodes
-- Further test work will commence on the quality of a
sphericalised product from the smaller fines - a product in high
demand in the EV sector
The Company is pleased to provide an update to the ongoing
Metallurgical test work program currently nearing completion at SGS
Lakefield in Canada.
Blencowe Resources Plc ("Blencowe Resources") (LSE: BRES) is
pleased to announce that metallurgical test work currently underway
at graphite specialist SGS Lakefield (Toronto) is going according
to plan and results to date confirm the exceptional nature of the
end product quality. This is considered critical to the overall
Project as a high quality end product provides the basis for more
significant offtake interest as well as overall better pricing in
the market.
Test work to date previously completed during in stage one last
year delivered a 94% TGC concentrate with modest recoveries, but in
preliminary tests within stage two at SGS Lakefield have confirmed
the potential to achieve a concentrate grade between 95-96% TGC
with low impurities and high recoveries, from both the Northern
Syncline and Camp lodes.
Additionally, the higher grade and recoveries have not impacted
the recovery of the large to jumbo flakes and a revised approach to
the processing methodology has enabled these higher value larger
flake sizes to be mostly preserved in the upgrading. The process to
deliver this concentrate is similar to other graphite projects and
the relatively simple design circuit lends additional credence to
the proposed Blencowe approach of a modularised plant that is
easily expandable. This would allow for a more modest start-up
position to ensure lower risk via a lower capital requirement for
initial production, but would allow for a quick ramp up process at
any stage thereafter if market demand increases as forecast and
requires higher production levels of graphite concentrate.
Blencowe and SGS Lakefield will continue to build on these
results to achieve the optimal outcomes as final stages of test
work nears completion. Thereafter further test work will commence
on the quality of a sphericalised product from the smaller fines.
High quality sphericalised graphite is used within the anode for
lithium-ion batteries and supply is forecast to be in a significant
deficit to demand ahead as the electric vehicle (EV) expansion
gathers pace over the next decade.
Cameron Pearce Executive Chairman's commented;
"We entered this metallurgical test work with the goal of
achieving best possible results for each of the four critical items
under review, namely delivery of a high grade concentrate with low
impurities, high recoveries, and the preservation of large flakes.
To achieve all of these together in an end product would be a
stellar result as it would put Orom-Cross right up there with the
better graphite projects worldwide. We are working through each
parts of this exercise and the results to date are positive and we
are very encouraged with the test work results"
For further information please contact:
Blencowe Resources Plc
Sam Quinn
Investor Relations www.blencoweresourcesplc.com
Sasha Sethi Tel: +44 (0)1624 681 250
info@blencoweresourcesplc.com
Tel: +44 (0)7891 677 441
sasha@flowscomm.com
Brandon Hill Capital Limited Tel: +44 (0)20 3463 5000
Jonathan Evans jonathan.evans@brandonhillcapital.com
First Equity Limited Tel: +44(0)20 7330 1883
Jason Robertson jasonrobertson@firstequitylimited.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 total resource in excess of three 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.
Phase two drilling is underway to upgrade the JORC Standard
resource estimate already achieved and this will be completed in
parallel to metallurgical test work underway to deliver a high
grade end product. With both of these Orom-Cross will move into
feasibility study stage over the next 6-12 months.
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