Blencowe Resources (BRES) has released its first batch of assay results from the Stage 7 drilling programme at the Orom-Cross graphite project in Northern Uganda. This campaign, the largest in Blencowe's history, included geotechnical holes, infill drilling, and exploration drilling across both the Camp Lode and Northern Syncline deposits, as well step-out and deep drilling at the newly identified Beehive deposit.
The first results, from the eight geotechnical holes drilled primarily to support pit design, have returned strong graphite grades.
These results confirm extensions to mineralisation and highlight high-grade zones within the existing deposits, further underscoring Orom-Cross's unique combination of high grade, shallow ore and large-scale potential.
Among the highlights at the Camp Lode were 27.54 metres 8.68% total graphitic content, and 3.96 metres at 9.08% TGC at depth.
At Northern Syncline highlights included 27.98 metres grading 4.61% TGC and 12.37 metres at 6.09% TGC.
All results will be incorporated into the JORC resource upgrade, which is expected to deliver a material increase in reserves to support large-scale mining over the life of mine.
Additional assays from infill, step-out and deep drilling (Beehive deposit) programmes are expected shortly.
Meanwhile work is now underway on building a permanent camp at Orom-Cross. This is expected to support further exploration in 2026 and provide facilities for contractors during the construction of the mine.
"The results confirm high-grade extensions to both Camp Lode and Northern Syncline, while reinforcing the advantage of shallow, easily mined ore that underpins our low-cost production profile,” said Blencowe’s executive chairman Cameron Pearce.
“All this data will be fed directly into both our JORC Resource upgrade and the definitive feasibility study, which is due for completion in Q4 2025. Increasing ore reserves at higher grades is a critical step and we expect this to not only enhance the mine plan but also translate into a considerable uplift to project economics and NPV. Orom-Cross already benefits from a unique combination of attributes, including abundant low cost national-grid hydropower, established roads and infrastructure, and independent test work from both Wuhan University and American Energy Technologies confirming some of the highest SPG purities recorded - up to 99.99% GC.”
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Blencowe’s shares are trading at close to 12-month highs, against the backdrop of a resurgent mining sector. It’s a good time to have assays beginning to come through and more results to follow. It won’t be long now before the definitive feasibility study is out, and the company moves into financing and construction. Could it be that another re-rating is just around the corner?