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Blencowe Resources #BRES – Orom-Cross Graphite Project – Drilling Progressing to Plan
Highlights
- Stage Two drilling programme over halfway completed and ahead of schedule
- Expected to define a +10Mt TGC Measured and Indicated Resource with increased tonnage and grades expected from the high-grade Northern Syncline and Camp Lode zones
Blencowe Resources Plc (“Blencowe Resources” or the “Company”) (LSE: BRES) is pleased to announce that the Stage Two drilling program that commenced in June is over halfway through, with full completion and demobilisation expected before end-July.
To date 41 holes out of 74, for circa 1,200m of overall 2,000m diamond drilling, have been completed and the first batch of 554 samples has left site for to Mwanza in northern Tanzania where the regional JORC-accredited laboratory is located.
Most of the current drilling program has taken place at the higher grade Camp Lode deposit, which required further drilling in order to bring it into the JORC Standard Resource. To date 29 holes of planned 36 are completed at Camp Lode and Blencowe Resources is happy to report that the continuity of both grade and geology is strong within the Camp Lode. This bodes well for a JORC Resource upgrade once all the drilling and assaying is completed.
Blencowe Resources has also undertaken further drilling at the nearby Northern Syncline deposit where 12 of the planned 38 holes are completed. Grade and continuity are also maintaining and a resource upgrade will be likely there too.
The Company designed this Stage Two in-fill drilling program primarily to upgrade a significant portion of the 16Mt Inferred Resource as announced previously into an Indicated or Measured category, which can then be used for mine planning and design within the Pre-Feasibility Study. Two further benefits will be firstly to add more tonnes into the overall JORC Resource and secondly to raise the overall grade of the JORC Resource by bringing in the Camp Lode deposit for the first time.
Cameron Pearce, Executive Chairman commented;
“Blencowe is making excellent progress everywhere and the continued good work in the field by our technical partners within Uganda will allow us to upgrade our JORC Resource for Orom-Cross in Q4 2021. This drill program is being done in parallel with metallurgical test work to determine our optimal end product, the results of which are due shortly from SGS in Canada, and together they will provide the Company with the foundation upon which it can shortly commence its first commercial studies of the project.
Our team has delivered considerable value uplift on Orom-Cross in just fifteen months since we acquired the project and in the next few months we believe we will add considerably more value as the Stage Two drilling and metallurgical test work programs complete.
Orom-Cross is shaping up to be an outstanding graphite project and we will continue to develop it in all facets towards first production, while momentum gathers all the time for our end-product, being one of the critical input materials into lithium-ion batteries used to power electric vehicles.”
For further information please contact:
| Blencowe Resources Plc
Sam Quinn
Investor Relations Sasha Sethi |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
Tel: +44 (0)7891 677 441
|
| Brandon Hill Capital Limited
Jonathan Evans |
Tel: +44 (0)20 3463 5000
jonathan.evans@brandonhillcapital.com
|
First Equity Limited Tel: +44(0)20 7330 1883
Jason Robertson jasonrobertson@firstequitylimited.com
Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/72382491/admin/
Background
Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger 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 an estimated overall resource between 2-3 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
Blencowe Resources #BRES – Maiden JORC Mineral Resource delivered at Orom-Cross Project
Blencowe Resources Plc is pleased to announce its maiden JORC Mineral Resource Estimate at its 100% owned Orom-Cross graphite project in Uganda:
Highlights
- JORC Indicated & Inferred Mineral Resource for Northern Syncline deposit of 16.3Mt @ 6.0% Total Graphite Content (4% TGC cut off), approximately double the targeted 8-10Mt.
- Includes higher grade zones of 3Mt @ 8.1% TGC (7% TGC cut off).
- Resources commence from surface to a depth of 30m, where drilling ended in mineralisation.
- Drill results from higher grade Camp Lode deposit to be added into a further Orom-Cross JORC Resource statement ahead, further boosting both tonnes and average grade.
Blencowe’s 2020 drilling program focused on a small part of the estimated 3 billion tonnes graphite deposit at Orom-Cross, with the objective of identifying a maiden JORC Mineral Resource of around 8-10Mt, being sufficient to provide the basis for an initial 25Kt per annum mining operation for the first ten years. The maiden JORC Mineral Resource, which covers only one of the two deposits drilled, being the Northern Syncline lode, has yielded almost double the targeted tonnage. These numbers will be further boosted by inclusion of the previously reported higher grade drilling results from the Camp Lode deposit to be reported in a further JORC Mineral Resource update in 2H 2021.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 the potential for Orom-Cross to become a low-cost graphite producer. These resources were identified in an area adjacent to the proposed plant site, thereby expected to further boost the project economics of any subsequent development.
Blencowe will conduct a further geotechnical drilling programme to commence shortly for inclusion within the Pre-Feasibility Study (PFS) later this year. At the same time Blencowe will add further holes on the Camp Lode deposit to enable this higher grade portion of the deposit to be included in the next upgraded JORC Mineral Resource, along with some additional drilling in the Northern Syncline to convert more of the existing Inferred resources into an Indicated category.
The Company is pleased to report good progress is being made by globally respected consultants SGS Lakefield with respect to its metallurgical studies and expects to be in a position to release the results from this test work towards the end of the current quarter. These metallurgical studies are a key input into the upcoming Feasibility Study and also to progress a Preliminary Economic Assessment (PEA) for the project, for which work is set to begin imminently and which will be delivered prior to the Pre-Feasibility Study.
The objective of the metallurgical test work is to fully understand the quality of the end-product that Orom-Cross can deliver, as well as the process flow to achieve that. Blencowe believes Orom-Cross has the potential to deliver a high grade graphite concentrate which would prove desirable to potential offtakers and the broader market.
Cameron Pearce, Executive Chairman commented:
“Following our acquisition of the project less than one year ago I am delighted to announce our maiden JORC Mineral Resource at Orom-Cross and at a time when the global market for graphite is set to grow exponentially.
This resource has provided almost double the tonnes we set out to deliver from just one of the two deposits we explored, being the Northern Syncline. When coupled with the higher grade Camp Lode drill results and their expected inclusion in a further resource update, it will enable Blencowe to either high grade any mining activities or to increase our production targets.
Additional drilling at Orom-Cross is set to begin shortly as is work towards delivery of a Preliminary Economic Assessment as a pre-cursor to the Pre-Feasibility Study. We also look forward to the results of the met-test work from the SGS Lakeside (Canada) labs during this quarter.
As we move through exploration into the studies phase Orom-Cross remains on course to become a significant developer of flake graphite, which is one of the key input materials into the highly sought-after lithium-ion batteries for electric vehicles. With an active programme of work and news flow ahead we look forward to continued progress in 2021″
Mineralization Zones
The Orom Graphite Project is located in the Kitgum District in north-eastern Uganda. The exploration activity identified and named at least five (5) major graphite mineralised zones within the project property underpinned by Mining Licence (ML) 1959, namely:
1. Northern Syncline
2. Camp Lode
3. Central Anticline
4. Synformal Saddle
5. Southern Anomaly
The Phase 5 Resource Delineation Programme aimed at investigating the near surface, free dig graphite mineralised material within a portion of the Northern Syncline and Camp Lode mineralised zones. Therefore, each mineralised zone was divided into four sub-zones based on the subsurface level of oxidation and weathering. Field observations and preliminary analyses suggest a mean global weathering depth of ~15m with a range of ~9m to ~25m in some instances.
The Graphitic Carbon (GC) grade population within the investigated mineralised zones indicates that the in situ graphite grade for the deposit ranges from 0.01% to 24.1% GC with a mean grade of 5.6% GC and a mode of 6.2% GC. The JORC compliant resource estimate for these two graphite mineralised areas has been completed and is based on the drill hole spacing, grade variability and geological confidence. The result of the modelling and estimation process is the initial Mineral Resource below.
Resource Estimates
Geostatistical analysis of the data allowed for the Northern Syncline to be estimated and reported according to the into JORC (2012) code. A Resource block model was therefore constructed for the Northern Syncline. The block size for the model was dependant on the data spacing and a final block size of 10m x 20m x 3m was selected with a rotated grid to match the orientation of the graphite mineralisation zones.
An Ordinary Kriged estimation was performed and resulted in both Inferred and Indicated Resources being reported for the Northern Syncline. The Resources for the Northern Syncline have been tabulated at various cut-off grades starting at 3% GC. A 4% GC cut-off was determined to be appropriate based on preliminary economic analysis. The Resources are presented as follows:
The Resources declared can be summarised as follows:
|
Mineral Resources – Block Models |
||||||||
|
Area |
Material |
Resource Category |
Cut-off Grade |
Tonnage (t) |
Mt |
SG |
%GC |
%TC |
|
Northern Syncline |
Weathered |
Inferred |
4% GC |
3 517 350 |
3.5 |
2.18 |
5.86 |
6.09 |
|
Indicated |
4% GC |
1 941 840 |
1.9 |
2.18 |
5.60 |
5.82 |
||
|
Measured |
Not reported |
|||||||
|
Subtotal |
4% GC |
5 459 190 |
5.4 |
2.18 |
5.77 |
5.99 |
||
|
In situ |
Inferred |
4% GC |
8 979 330 |
8.9 |
2.70 |
5.83 |
6.06 |
|
|
Indicated |
4% GC |
1 911 300 |
1.9 |
2.69 |
5.52 |
5.80 |
||
|
Measured |
Not reported |
|||||||
|
Subtotal |
4% GC |
10 690 650 |
10.7 |
2.70 |
5.78 |
6.01 |
||
|
TOTALS
|
All |
Inferred |
4% GC |
12 496 700 |
12.5 |
2.56 |
5.84 |
6.07 |
|
All |
Indicated |
4% GC |
3 353 140 |
4.3 |
2.43 |
5.56 |
5.81 |
|
|
|
TOTAL |
Inf.+ Ind. |
4% GC |
16 349 840 |
16.3 |
2.53 |
5.77 |
6.01 |
* GC – Graphitic carbon, TC – Total carbon
** Tonnes have been rounded off
In conclusion it can be seen that significant mineralisation was identified and delineated by the exploration programme. Although not all the mineralisation identified had sufficient geological confidence to be classified as a Mineral Resource (JORC, 2012), approximately 75% of the mineralisation was classified as such after applying a cut-off grade of 4% GC.
Competent Person’s Statement
The information in this release, which is related to Mineral Resource estimation, was compiled under the supervision of Mr JP van den Berg who is an employee of Minrom Consulting (Pty) Ltd, Member of the Geological Society of South Africa (GSSA) and a Certified Professional Natural Scientist (Pr.Sci.Nat) with the South African Council for Natural Scientific Professions (SACNASP).
Mr Van den Berg has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity that he has undertaken to qualify as a Competent Person as defined by the JORC (2020) Code. Mr Van den Berg consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
For further information please contact:
|
Blencowe Resources Plc Sam Quinn
|
Tel: +44(0) 1624 681 250 info@blencoweresourcesplc.com
|
|
Investor Enquiries Sasha Sethi
|
Tel: +44 (0) 7891 677 441 sasha@flowcomms.com
|
|
Brandon Hill Capital Limited Jonathan Evans
|
Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com |
|
First Equity Limited Jason Robertson |
Tel: +44 (0)20 7330 1883 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 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.
Blencowe Resources #BRES confirms Further Near to Surface High-Grade Graphite Zones in the Eastern Syncline Lode at Orom-Cross Project
Blencowe Resources Plc (“Blencowe Resources”) (LSE: BRES) is pleased to announce confirmation of additional high-grade assay results from its 2020 diamond drilling program, which will help underpin a maiden JORC Mineral Resource Estimate at its Orom-Cross graphite project in Northern Uganda, scheduled for release this month.
Highlights
- Drilling at Main Syncline Lode delivers outstanding grade graphite results including:
- ORNS-L101, 15.1 metres at 8.4%TGC from 1 metre, including 1 metre at 12.7%TGC
- ORNS-L106, 3 metres at 11.9% TGC from 3 metres, and 5 metres at 8.5%TGC from 11 metres
- ORNS-L204, 7.8 metres at 6.7% TGC from 1 metre, including 1 metre at 11.2% TGC
- ORNS-L205, 6.3 metres at 11.1%TGC from 1 metre
- ORNS-L305, 9 metres at 7.5% TGC from surface, including 3 metres at 10.2% TGC
- ORNS-L307, 9 metres at 8.8% TGC from surface, including 1 metre at 17.1% TGC
- ORNS-L405, 19 metres at 8.3% TGC from 1 metre, including 4 metres at 10.5% TGC
- ORNS-L603, 7 metres at 11.5% TGC from 2 metres, including 3 metres at 14.2% TGC
- These results will underpin a maiden JORC (2012) Standard Mineral Resource Estimate and Reserve Determination scheduled for release this month.
- The updated Mineral Resource will underpin a Pre-Feasibility study scheduled for H2 2021
These results, which come from the weathered, close-to or at-surface zone of the Eastern Syncline Lode deposit, highlight the quality of the Project’s mineralisation. Furthermore, substantial graphite at shallow depths underlines Orom-Cross’s ability to be a low-cost producer. As with the previously announced Camp Lode, the drilling at the Eastern Syncline Lode targeted infill zones between the Phase 2 drilling program and trenching and strike extensions to existing oxide mineralization.
The higher grade near-surface intercepts confirm the geological interpretations as well as grade continuity in the main lodes of the Project.
The diamond drill program on the Eastern Syncline Lode Deposit was based on a 50 metre by 12.5 metre grid. The program was designed to outline the main production area for an initial 10 year mining phase to be incorporated into a Pre- Feasibility study scheduled for H2 2021.
Similar to the holes in the Camp Lode the holes drilled in the Eastern Syncline Lode 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. Based on the received samples to date the expectation is for average grades of 6-8% TGC in the Eastern Syncline Lode which is consistent with earlier modelling.
Figure 1: Map of the Drilling Programme
The identification of higher-grade zones within the Eastern Syncline Lode may present Blencowe with additional high-grade ore for the initial mining phase which could have significant advantages to both mining costs and product quality. Subsequent logging by company geologists has also identified zones of large to jumbo flakes in the core, which is very positive in lieu of producing an end-concentrate of high quality that can attract higher prices.
The core has been assayed at SGS in Johannesburg using the method C-IR18. The method is appropriate for understanding graphite deposits and is a total method.
Blencowe Resources has received all the sample assays for the diamond drill hole program and geological block models have been developed for both the Eastern Syncline and Camp Lode deposits. The Company’s technical consultants are now proceeding to finalise the Mineral Resource Estimate.
Executive Chairman Cameron Pearce commented;
“Following on from our recent announcement of high grade graphite in the Camp Lode, these additional excellent results at the Eastern Syncline Lode continue to highlight the robust results at Orom-Cross. Our drilling program has so far confirmed everything it was meant to in terms of location of graphite, shallow depths of the ore body, significant grade and evidence of larger flake sizes. These factors all combine to underline our belief that Orom-Cross is emerging as an outstanding graphite project. We are within the early stages of a once-in-a-lifetime extraordinary passage where an entire (auto) industry begins to shift from fossil fuel energy to electrification, and this will require a material amount of graphite to support the lithium-ion batteries used to power electric vehicles (EVs). Graphite makes approximately half the weight of each Li-ion battery, some 50kgs on average per battery, and analysts are all predicting substantial demand for high quality graphite. Orom-Cross is fast shaping up to be a robust graphite project in terms of size, scale, quality and location to meet the future supply requirements of graphite.”
For further information please contact:
|
Blencowe Resources Plc Sam Quinn
Investor Relations Sasha Sethi |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
Tel: +44 (0)7891 677 441
|
| Brandon Hill Capital Limited
Jonathan Evans
First Equity Limited Jason Robertson |
Tel: +44 (0)20 3463 5000
jonathan.evans@brandonhillcapital.com
Tel: +44(0)20 7330 1883 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 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.
Blencowe Resources #BRES confirms Near Surface High-Grade Graphite Zone at Orom-Cross Project
Blencowe Resources Plc (“Blencowe Resources”) (LSE: BRES) is pleased to announce exceptional high-grade drilling results which will help underpin a JORC Mineral Resource and Reserve Estimate at its OROM-Cross graphite project in Uganda, scheduled for release in the March 2021 Quarter.
Highlights
- Drilling at Camp Lode has delivered outstanding high grade graphite results including:
- OREA-L102, 25 metres at 9.7%TGC from 5 metres including 4 metres at 12.7%TGC
- OREA-L202A, 6 metres at 12.2% TGC from surface including 2 metres at 20.9% TGC
- OREA-L202A, 5 metres at 12.7% TGC from 7 metres including 2 metres at 16.2% TGC
- OREA-L202A, 13 metres at 9.3%TGC from 17 metres
- OREA-L203, 18 metres at 6.2% TGC from 2 metres
- OREA-L303, 19 metres at 8.4% TGC from 11 metres including 5 metres at 13% TGC
- OREA-L304, 5 metres at 11.9% TGC from 4 metres including 2 metres at 18.6% TGC
- These results will underpin a maiden JORC Standard Mineral Resource Estimate and Reserve Determination scheduled for release in late March
[The announcement is reproduced in full in the attached pdf with the map of the drilling programme in figure 1]
http://www.rns-pdf.londonstockexchange.com/rns/2866O_1-2021-2-8.pdf
The results, which come from the weathered, close-to or at-surface zone of the Camp Lode deposit, highlight the quality of the project’s mineralisation and ultimately its ability to be a low-cost producer.
The drilling targeted both infill zones and strike extensions to existing high-grade oxide mineralization. The spectacular near-surface intercepts confirm the geological interpretations as well as grade continuity.
The Camp Lode Deposit has been subjected to a diamond drill hole program on a 50 metre by 12.5 metre grid. The drilling was designed to qualify the initial production area for the deposit as a high-grade supplement to the main deposit. Blencowe Resources continues to receive the sample assays for the additional 53 diamond drill hole program undertaken on the Eastern Syncline Lode and QA/QC checks are expected to be completed shortly enabling the company to proceed to finalising the Mineral Resource Estimate.
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. Based on the received samples to date the expectation is for grades of up to double the 6-8% average Orom-Cross grade. This may present Blencowe with a high grade ore for initial mining which could have significant advantages to both mining costs and product quality. Subsequent logging by company geologists has also identified zones of large to jumbo flakes in the core.
The core has been assayed at SGS in Johannesburg using the method C-IR18. The method is appropriate for understanding graphite deposits and is a total method.
Blencowe Executive Chairman Cameron Pearce commented;
“We have always believed that Camp Lode offered a very valuable source of graphite to mine in the initial phase of development. These assay results have proven this and delivered a great result which can underpin our mine plan and ultimately deliver considerable value”.
“As the growth in electric vehicle (EV) and new generation battery demand continues to gather momentum worldwide, the Blencowe team are working hard to develop Orom-Cross into a valuable mining prospect and future supply hub that can deliver significant tonnes of high quality end-product into several key markets.”
For further information please contact:
|
Blencowe Resources Plc Cameron Pearce / Sam Quinn
|
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250 sam@lionsheadconsultants.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.