Business
First Stage Value-Add Completed at Orom-Cross
First Stage Value-Add Completed at Orom-Cross.
About this update from Blencowe Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 5654V\n Blencowe Resources PLC\n 10 August 2020\n \n \n \n \n Date: 10 August 2020 Blencowe Resources Plc\n \n \n \n \n \n (\"Blencowe\" or the \"Company\")\n \n \n \n \n \n First Stage Value-Add Completed at Orom-Cross\n \n \n \n \n \n The Company is pleased to provide an update on all progress to date since its acquisition of the Orom-Cross Graphite Project in April, and its return to trading on LSE immediately thereafter.\n \n \n Highlights\n \n \n The Company's Prospectus laid out its intention to fast-track value creation for the Project, by moving Orom-Cross up the development curve as quickly as possible through a combination of drilling and metallurgical studies. The key requirements to fulfil this were identified as follows;\n \n \n · \n A substantial diamond drilling programme to deliver enough resource to support an initial mine life of over ten years.\n \n \n · \n A maiden JORC Resource for the asset, to provide both the Company and industry participants sufficient confidence with respect to the development of a modest part of Orom-Cross.\n \n \n · \n Completion of further metallurgical test work, using samples from this drilling programme to better understand end product from the area considered for initial mining.\n \n \n · \n Complete land acquisition and social responsibility programmes to ensure on-the-ground support.\n \n \n · \n Develop key relationships in-country to ensure ongoing support and activities moving forward.\n \n \n · \n Deliver a first commercial model outlining an initial mining scenario, once all drilling and metallurgical test work has been successfully completed.\n \n \n \n \n \n Blencowe is pleased to report that a number of these objectives have already been met this year, with the balance expected to be completed by year end. This has been achieved despite the various challenges faced via Covid-19 restrictions in both Uganda and UK.\n \n \n A 69-hole (1,950m) diamond drill programme was planned, executed and completed, with initial results looking positive. These included the discovery of a new high grade lode of graphite, which was subsequently drilled within the original drilling budget and is expected to boost the overall JORC Resource estimate. The drilling programme also reconfirmed the Company's belief that the maj...