(Alliance News) - Blencowe Resources PLC on Monday said its drill programme at the Orom-Cross graphite project in northern Uganda will restart as Covid-19 restrictions in the country are to be eased.
The miner began its approximately 1,800 metre diamond drill infill programme back in March but this was put on hold at the start of April thanks to Covid-19 lockdowns. A quarter of the programme was complete before the lockdown and results so far met management expectations.
Blencowe explained that, as it expects these restrictions to be eased soon, drilling will resume shortly and the company will aim to complete all holes in around one month. The company obtained a 21-year mining licence for Orom-Cross in 2019.
So far, under the 2020 work programme at Orom-Cross, Blencowe has complete a Lidar survey over its lease areas, established an on-site exploration camp, and signed compensation agreements with local landholders.
The drill rigs are still on site and prepared to complete the drill programme once lockdown measures are relaxed, which is expected to take place on or around Saturday this week.
Executive Chair Cameron Pearce said: "In anticipation of completing the deal to acquire Orom-Cross, and being aware for the need to move forward as quickly as possible with further critical work required to substantially advance this project, Blencowe has hit the ground running fast. This means that any delays due to Covid-19 lockdowns will not substantially impact progress as work is already underway in all key areas, with several workstreams continuing and others recommencing as soon as practicably possible after the Covid-19 lockdown ends.
"It is Blencowe's ambition to add value to Orom-Cross as quickly as possible whilst ensuring at all times it performs to the highest industry standards."
Shares in Blencowe were up 5.9% at 7.68 pence in London at midday on Monday.
By Anna Farley; annafarley@alliancenews.com
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Blencowe Resou. (BRES)