GCIBlencowe Resources all set for new 6,700 metre drill campaign at Orom-Cross
Blencowe Resources PLC () is commencing a 6,700 metre resource drilling programme, the final major workstream required for the completion of the definitive feasibility study for the Orom-Cross graphite project in Uganda.
The aim is to seek a significant expansion of the JORC resource and reserve numbers for Orom-Cross.
The drill programme will target extensions to the existing Northern Syncline and Camp Lode deposits as well as upgrading the overall resource classification.
There will also be a step-out campaign to outline additional resources in a nearby target zone which, if successful, will add an exciting new high grade deposit into the Orom-Cross resource.
Additional reserves would allow Blencowe to increase the scale of production tonnage earlier in the mine life and to extend the life of mine, thus delivering a substantial impact on project economics in the final DFS results.
At this point, it’s estimated that there’s between two and three billion tonnes of ore at Orom-Cross overall. As it stands, the project is known to contain 24.5 million tonnes of ore grading 6% total carbon.
Experienced drilling partner ADT Africa will now mobilise drill rigs and personnel to site shortly and commence drilling thereafter. The entire programme is scheduled to span approximately 2-3 months, with regular market updates to follow.
Additionally, Blencowe will establish the first permanent camp at Orom-Cross, in preparation for the construction phase, targeted for the second half of 2025.
"We are confident this programme will significantly extend our JORC Resource and Reserve base and we will be working closely with our technical partners to deliver the best results possible in the shortest timeframe, feeding directly into the DFS,” said executive chairman Cameron Pearce.
“We are especially excited to be drilling a new deposit which may ultimately deliver further higher grade tonnes into our project. Higher production volumes will make a substantial difference to the NPV within the DFS modelling.
View from Vox
The company’s bulk sample test work over the past 12 months has given a clear idea what the final product will look like, and it now looks like demand will be greater than that which was originally modelled in the pre-feasibility study. That’s all to the good, and amply justifies a potential increase to the resource. It’s also useful from the share price perspective to have drill results coming in at a time when conceptual work is also to the fore.
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