Last checked at 11 Apr 2022 07:30
Date: 11 April 2022
Blencowe Resources Plc
("Blencowe" or the "Company")
Release of Updated Presentation
Blencowe Resources is pleased to announce the release of an updated presentation for the Company, highlighting ongoing work at both the Orom-Cross graphite project as well as the Akelikongo nickel project.
The presentation can be found at this link: http://www.rns-pdf.londonstockexchange.com/rns/8784H_1-2022-4-10.pdf
CEO, Mike Ralston, will be delivering a live webinar at 12 noon Monday 11 April, where he will discuss this presentation along with the recently announced JORC Resource update, and the new strategic investment into Blencowe.
The link for this call is https://us02web.zoom.us/webinar/register/WN_PcAeugdNQs2oZksABsUD1A
For further information please contact:
Blencowe Resources Plc Mike Ralston | www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250 info@blencoweresourcesplc.com
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Investor Relations Sasha Sethi | Tel: +44 (0) 7891 677 441 sasha@flowcomms.com
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Tavira Securities Jonathan Evans | Tel: +44 (0)20 7100 5100 jonathan.evans@tavirasecurities.com
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First Equity Limited Jason Robertson | Tel: +44(0)20 7330 1833 jasonrobertson@firstequitylimited.com
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Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/72382491/admin/
Background
Orom-Cross Graphite Project
Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger coarse flakes within the deposit. A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit and Blencowe is moving through the Feasibility Study phase as it drives towards first production targeted for 2023.
Orom-Cross presents as a large, shallow open-pitable deposit, with a maiden JORC Indicated & Inferred Mineral Resource deposit of 24.5Mt @ 6.0% Total Graphite Content. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.
Akelikongo Nickel Project
Akelikongo is a highly prospective nickel sulphide exploration project that has previously had considerable work completed by Rio Tinto and Sipa to establish three mineralised lenses to date. It represents an opportunity for Blencowe to add further value through a targeted work programme that will seek to delineate higher grade and thicker intercepts of nickel.
Nickel sulphide deposits are rare and valuable and the prospect of further exploration success gives Blencowe suitable incentive to develop this asset under a structured earn-in agreement, whereby 100% of the asset can ultimately be acquired for US$1.5m, 100% payable in shares.