Blencowe Resources (BRES)BRES has released its final set of infill assay results from the Northern Syncline deposit, part of the wider Orom-Cross graphite project in Uganda. 

All drilling required for the updated JORC resource and reserve estimate has now been completed. 

The JORC update itself is expected within approximately two weeks, and date from this will be fed directly into the definitive feasibility study which remains on track for completion before year-end.

The Northern Syncline infill drilling confirms broad, consistent mineralisation throughout the oxide zone, demonstrating strong grade continuity and the large-scale nature of the orebody. Northern Syncline is the largest deposit at Orom-Cross and comprises the bulk of the long-term mine plan. 

The other major portion is the Camp Lode deposit, which will account for much of the early cash flow, with the mining of near-surface high grade zones.

In addition, step-out exploration drilling at the new Lyan and Beehive deposits has concluded, with assay results expected to follow, post-DFS, to provide additional exploration upside.

Among the highlights from the latest drilling at Northern Syncline were 20.57 metres grading 6.52% total graphitic content, 25.08 metres grading 4.98% TGC, and 23.07 metres grading 4.36% TGC..

"We are pleased to share these latest results from the Northern Syncline, which underline the incredible continuity within this orebody,” said Blencowe’s executive chairman Cameron Pearce. 

“The length of these intersections and their shallow nature combine to allow for low strip ratios and an overall reduction in mining costs, which is a critical requirement for success ahead. This drill programme continues to highlight that Orom-Cross has substantial volume of graphite near to surface, it has high grade zones, it continues at depth, and it has continuity. When we add the very high quality end products confirmed by international test work, we believe we are developing one of the premier graphite ore bodies in the world.”

 

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Big updates to look forward to now – the JORC numbers and the DFS. These ought to show a highly attractive project with a sizeable resource, good grades and positive economics. And it’s worth remembering too that only a small portion of Orom-Cross has actually been drilled. Its real value could turn out to be much greater.