Blencowe Resou. Share News (BRES)

(Sharecast News) - Blencowe Resources updated the market further on the JORC-resource diamond drilling programme underway at its Orom-Cross Graphite Project in Northern Uganda on Tuesday, reporting that a single drill hole has been completed to a depth of 30 metres, to test both the weathered zone and possible graphite mineralisation.
The London-listed firm said that followed its decision to test the recently-identified high-grade zone close to the existing camp site, and close to where the proposed processing plant would be.

It said the hole returned visible high grade graphite over 28 metres of 30 metres of intersection, with weathering extending to the base of the hole.

Based on prior samples taken in the area, the expectation was for grades of up to double the 6%-to-8% average Orom-Cross grade.

Subsequent logging by company geologists also identified zones of "large to jumbo" flakes in the core.

The core had been sampled, and was being prepared for dispatch to assay laboratories in Tanzania.

Following confirmatory identification of the potential high-grade zone in close proximity to the intended plant location, the company said it had now authorised the redirection of a drill rig to complete a nine-to-15 hole programme to delineate the lode, which would occur following the completion of the current drill programme and within the current budgeted numbers.

"We are very enthusiastic to note the potential of this new high-grade zone based on visual inspection," said executive chairman Cameron Pearce.

"We look forward to receiving the assay results and in the meantime, we are going to escalate the drill programme in the vicinity to identify the extent of this zone.

"This additional high grade zone would add material value to the overall project and we look forward to reporting further on the drilling and assays in due course."