Blencowe Resources (BRES ) has reported ‘exceptional’ high-grade drilling results which it says will help to strengthen the updated JORC Mineral Resource and Reserve Estimate update at its Orom-Cross graphite project, scheduled for release by the end of the month.
The JORC resource diamond drilling program targeted mainly infill zones in the weathered zone of the Northern Syncline deposit, and was planned to provide a basis for upgrades in resource classification as well as extensions to existing high-grade oxide mineralisation.
The resource firm said the results highlight the quality of the Ugandan project’s mineralisation and its ability to be one of the lowest cost producers of graphite concentrate internationally.
Drilling at the Northern Syncline Lode has delivered some ‘outstanding’ graphite results in the oxide zone expected to strengthen the updated JORC Standard Mineral Resource Estimate.
The company outlined that some ‘spectacular near-surface intercepts’ have confirmed existing geological interpretations as well as grade continuity over the strike length of the Northern Syncline in a similar way to the recent Camp Lode results as recently announced.
The Northern Syncline deposit has been subjected to a diamond drill hole program on a 25m by 12.5m grid. The drilling was specifically designed to provide sufficient information to enable the classification upgrade of resources at the Northern Syncline deposit into the Measured and Indicated categories and enable an updated resource estimate on the Northern Syncline.
All 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.
This may present Blencowe with further high-grade ore for initial mining which could have significant advantages to both mining costs and product quality, it noted. The firm added that subsequent logging by its geologists has identified zones of large to jumbo flakes in the core.
Blencowe explained that QA/QC checks are expected to be completed shortly enabling the company to proceed to finalising the revised and upgraded Mineral Resource Estimate.
Executive Chairman of Blencowe Resources, Cameron Pearce commented: “Our drilling campaign for 2021 has returned very positive high grade results for both the Northern Syncline and Camp Lode deposits, which will assist Blencowe to complete a revised JORC Resource Estimate in the next few weeks. We are also pleased to see options emerging for higher grade early stage mining which will positively impact operational costs.”
He added that Blencowe is now largely completed in terms of drilling at Orom-Cross and that the group does not require any further major campaigns in order to commence mining ahead.
A 21-year Mining Licence for the Orom-Cross graphite project was first 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.
The Orom-Cross project presents as a large, shallow open-pitable deposit, with a maiden JORC Indicated & Inferred Mineral Resource deposit of 16.3Mt @ 6% Total Graphite Content.
The 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 told investors.
Follow News & Updates from Blencowe Resources: