Date: 25
June 2024
Blencowe Resources
Plc
("Blencowe" or the
"Company")
600 tonne Graphite Bulk
Sample nears Completion
Test work to provide
commercial scale samples near to key milestone
Blencowe Resources Plc, together
with its Chinese partner Jilin New Technology Graphite Co.
("Jilin"), is pleased to
announce the near completion of processing 600 tonnes of raw
material from the Orom-Cross graphite project in Uganda. This
commercial scale testing in China has been crucial to fast-track
product qualification, bypassing the need for a costly pilot scale
graphite processing facility at site.
Highlights:
· 600 Tonne bulk sample
processing expected to complete by June end with results due
shortly after.
· Excellent yields and
recoveries delivered to date, highlight once again the strong
purity and characteristics of Orom-Cross graphite.
· Approximately 30 tonnes of
graphite concentrate expected, providing substantial sample size
for testing by interested tier-1 offtakers.
· Majority of small flake
concentrate to be sent to Blencowe's SPG processing partner for
further beneficiation.
· This process will deliver
approximately 10 tonnes of 99.95% uncoated SPG (spheronised
purified graphite), the battery-ready product OEMs want to test
before signing offtake agreements.
Concentrate Processing
Jilin, one of the leading graphite
processing companies in Asia, has extensive knowledge of Orom-Cross
graphite through this and previous test work. Jilin completed a 100
tonne bulk sample to concentrate for Blencowe in 2023 and has been
processing a 600 tonne bulk sample over the last
quarter.
Yields and recoveries delivered to
date have been excellent, highlighting once again the strong purity
and overall characteristics of Orom-Cross graphite and the program
is expected to complete within the next week, delivering
approximately 30 tonnes of 95-97% LOI graphite concentrate with a
55/45 mix of small flake/large flake. Blencowe will thereafter have
substantial volumes of both small flake and large flake concentrate
for further testing.
End products will be made available
to prospective offtakers as product testing completes, with most
small flake concentrate sent to Blencowe's SPG processing partner
for further beneficiation to deliver about 10 tonnes of 99.95%
uncoated spheronised purified graphite (SPG), the battery-ready
product OEMs want to test before signing offtake
agreements.
Blencowe has already announced its
first MOU for offtake for the large flake concentrate and through
completion of these next steps the Company anticipates delivering
further MOUs with leading buyers of graphite products worldwide,
with the aim of securing offtake partners for the entire production
output from Orom-Cross.
Executive Chairman Cameron Pearce commented:
"We are thrilled to be nearing the completion of our 600-tonne
bulk sample processing, which is a critical milestone in our DFS
journey. The excellent results so far underscore the high quality
and potential of our Orom-Cross graphite.
As
we transition to the next phase, our focus remains on delivering
premium, battery-ready graphite products that meet the stringent
demands of our prospective tier-1 offtakers and OEMS
who are seeking
high grade product to ensure their long-term supply to meet
accelerating demand for battery-ready premium product, especially
from the automotive industry for electric vehicle
batteries.
Successfully proving the quality of our end product at
commercial scale at this early stage not only strengthens our
position in the industry but also sets the stage for significant
commercial advancements with offtakers and downstream partners. We
look forward to sharing more positive updates as we drive towards
our goal of becoming a leading supplier of high-purity
graphite."
For further information please
contact:
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 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 has moved
into the Definitive Feasibility Study phase as it drives towards
first production.
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.