TIDMJAN
RNS Number : 2697L
Jangada Mines PLC
04 September 2023
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
Jangada Mines plc ('Jangada')
Investee Company Update: Blencowe Resources PLC
Jangada Mines plc is pleased to note the announcement released
by Blencowe Resources PLC (LON:BRES) in which it holds a c. 10%
interest. The announcement is set out below without material
changes.
Start of Blencowe Resources PLC announcement
Date: 4 September 2023
Blencowe Resources Plc ("Blencowe" or the "Company")
Completion of 100t Bulk Sample underlines high quality graphite
product from Orom-Cross
Highlights
-- Blencowe has now successfully completed critical
pre-qualification metallurgical test work with 100t bulk sample
works concluded in China.
-- Commercial scale results continue to confirm that a
high-grade, low impurity concentrate (95-97% TGC) can be delivered
from Orom-Cross graphite project in Uganda.
-- Increased coarse flake percentage of final mix, together with
higher recoveries, will increment the overall weighted average
selling price of the Orom-Cross basket of end products.
-- Blencowe now has a considerably larger volume of concentrate
product to send to potential end users for further
pre-qualification testing.
-- Positive feedback received from end users on Blencowe's
high-quality 95-97% TGC product with significant interest from
established Chinese industry groups in progressing offtake
arrangements.
Blencowe Resources Plc ("Blencowe" or the "Company"), is pleased
to announce that additional metallurgical test work on its
Orom-Cross graphite project in Uganda has now been completed by
leading graphite technical specialist laboratory, Jilin New
Technology ("Jilin") based at Yanji in Northern China, following
our recent update on 14 August 2023.
This metallurgical test work is critical to understanding the
commercial scale process plant components, the quality of the
end-product that Orom-Cross can deliver as a high-grade graphite
concentrate as well as the flake sizing yield, and the operability
of a process plant at Orom-Cross. The 100t bulk sample also
provides significantly greater quantum of end product for end user
testing which is critical for the Definitive Feasibility Study.
Executive Chairman Cameron Pearce commented: "We are very
pleased with these results from the 100 tonne bulk sample program.
We utilized the services of a very experienced graphite plant
operator at Jilin for the pilot testing as we believed this party's
extensive knowledge over decades in the industry would deliver
superior net concentrate results, and I delighted to say they have
delivered us a great outcome."
Mr Pearce added: "We now have proof we can deliver a very high
quality graphite concentrate from Orom-Cross on a commercial scale,
which is a key DFS milestone. In parallel we are testing the
upgrade of this concentrate to uncoated battery-ready 99.95% SPG
(spheronised, purified graphite) and expandables as the next
important step to significantly value-add our end products.
Finally, we also now have larger quantities of concentrate as
bulk samples to deliver to potential buyers and engage with
strategic groups. These groups can now proceed to test the
concentrate and determine their level of interest for binding
offtake agreements which will be crucial for our project financing.
We believe these results will be attractive to a range of graphite
consumers and that Orom-Cross can help deliver the shortfall of
graphite expected in the market in the foreseeable future."
Background to the Test Work
Blencowe commissioned Jilin New Technology in partnership with
Wuhan University to undertake metallurgical test work on a 100t
bulk sample which covered material from both the Northern Syncline
and Camp Lode areas within Orom-Cross. The pilot plant program was
designed to deliver the following objectives:
1. Confirm the commercial scale viability of processing the Orom-Cross ores.
2. Confirm a 95-97% TGC (Total Graphite Content) pure
concentrate is possible with low impurities (in particular thorium
and vanadium).
3. Confirm the laboratory testing models.
4. Confirm the liberation process in order to maintain a
majority of Jumbo/XL/Large flakes within the concentrate.
5. Confirm the process flow diagram for the pilot plant design
as part of the Definitive Feasibility Study.
6. Deliver significant quantum of bulk concentrate to allow
Blencowe to initiate discussions with potential off-take
partners.
Blencowe is pleased to announce that the pilot plant process has
successfully delivered on all of the above objectives.
The optimisation of the process (on the basis of the previous
laboratory testing) has been very successful with the pilot plant
methodology further improved and able to deliver a shorter overall
processing of the ore, whilst improving the metrics of the
concentrate delivered.
A shorter processing cycle has the benefits of lower capital
expenditure and lower operating costs, both of which will enhance
the overall Orom-Cross project financials.
The streamlined processing design has also realised increased
recoveries of the more valuable larger +50mesh flake from 6.5% to
9.5% yield (within overall basket of end products), whilst
increasing overall large flake yield by approximately 2% and
increasing overall concentrate recoveries to over 94%. Again, this
will add further value to the project financials.
The additional metallurgical test work to date shows a robust
flowsheet capable of repeatable metallurgy for a wide range of feed
samples from Orom-Cross, which will now be used directly for
reference in the actual concentrator engineering design for the
Definitive Feasibility Study.
End of Blencowe Resources PLC announcement
**ENDS**
For further information please visit www.jangadamines.com or
contact:
Jangada Mines plc Brian McMaster (Chairman) Tel: +44 (0)20 7317 6629
Strand Hanson Limited Ritchie Balmer Tel: +44 (0)20 7409 3494
(Nominated & Financial James Spinney
Adviser)
Tavira Securities Jonathan Evans Tel: +44 (0)20 7100 5100
Limited
(Broker)
St Brides Partners Ana Ribeiro jangada@stbridespartners.co.uk
Ltd Isabel de Salis
(Financial PR)
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