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Iyan Deposit Delivers Multiple Intercepts over 30M
Blencowe Resources Plc has announced positive assay results from shallow drilling at its Iyan deposit in Uganda, confirming thick, continuous near-surface graphite mineralisation with multiple holes intersecting mineralisation from surface to the planned 30-metre depth, and many ending in mineralisation. Selected intercepts include 30.27 metres at 6.27% TGC and 31.20 metres at 6.84% TGC, reinforcing the potential for significant near-surface tonnage and resource growth as the company advances funding discussions. These results are consistent with DFS assumptions and highlight higher-grade zones within the bulk mineralisation, supporting mine planning and long-term offtake discussions. Disclaimer*
About this update from Blencowe Resources Plc
[{"type":"text","content":"\n\nDate: 2 February 2026 \n \nBlencowe Resources Plc\n(\"Blencowe\" or the \"Company\"),\n \nIyan Deposit Delivers Multiple Intercepts over 30 Metres\nHigh-Quality Bulk Results Reinforce Multi-Decade Scale, Resource Growth as Funding Discussions Advance in Parallel\n \nBlencowe Resources Plc (LSE: BRES) is pleased to provide an update on assay results from shallow drilling at the Iyan deposit, one of the two new deposits recently discovered at the Company's Orom-Cross graphite project in Uganda. The Iyan deposit (named after the local indigenous peoples) represents the western extension of the Company's Northern Syncline graphite system.\nAs part of the Stage 7 drilling programme, the Company completed 72 shallow drill holes at Iyan, designed to test the continuity, thickness and near-surface extent of graphite mineralisation across the deposit. This announcement reports assay results received to date from an initial 15 holes, which are considered representative of the broader drilling programme.\nThe shallow Iyan drilling was deliberately designed to define near-surface, bulk mineable graphite mineralisation, with holes drilled to a planned depth of approximately 30 metres. Importantly, the majority of reported holes intersected graphite mineralisation from near surface to end-of-hole, with many holes ending in mineralisation, highlighting clear potential for continuation below the current drilling depth. This continuation was underlined by the results as previously reported for the deeper holes completed at Iyan which indicated strong mineralisation all the way to 100 metres.\n \nIyan Drilling Highlights\n· Initial results from 15 of 72 shallow holes confirm thick, continuous near-surface graphite mineralisation at Iyan.\n· The majority of reported holes are mineralised to end-of-hole at the planned ~30m depth, supporting depth continuity.\n· Drilling confirms a laterally continuous graphite system well suited to bulk, low-strip mining.\n· Average grades are consistent with DFS assumptions, with multiple higher-grade zones within bulk mineralisation.\n· Selected hol...