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Mike Ralston CEO of Blencowe Resources #BRES discusses the synergies of their right to Earn-into the highly prospective Akelikongo Nickel Sulphide and Copper Project located near to existing Orom-Cross Project in Northern Uganda.
Highlights
· Acquisition represents a very exciting opportunity for Blencowe to add a highly prospective nickel sulphide project to its existing world class Orom-Cross graphite project in Uganda
· The Project was previously jointly owned by Rio Tinto and ASX listed Sipa Resources within a JV until May 2020.
· US$15 million previously spent by JV partners on nickel and copper exploration.
· 19,000m of diamond, RC and RAB drilling completed.
· Continuous mineralisation over 800m strike within massive sulphides already established.
· Further airborne electromagnetic (EM) and downhole EM work has been planned to further test the identified anomalies as well as proximal targets.
· Phase 1 work funded from existing cash resources.
· Akelikongo is located approximately 100kms from the existing Orom-Cross graphite project which has potential for significant operational synergies.
· Addition of a highly prospective nickel sulphide project into widely predicted and emerging nickel supply shortfalls is considered highly advantageous for Blencowe's portfolio.