Blencowe Resources Plc (LSE:BRES) has released a second set of assay results from 12 shallow drill holes at the Iyan deposit within its Orom-Cross Graphite Project in Uganda. The latest data confirm thick, near-surface graphite mineralisation, with multiple intersections exceeding 30 metres from surface and several holes ending in mineralisation, pointing to further depth potential.
The results support Iyan’s positioning as a bulk blending deposit with higher-grade zones, underpinning the case for low-strip, efficient mining and future resource growth. They also advance the company’s plans to expand scale ahead of an updated JORC resource estimate, which is expected in the first quarter of 2026. Blencowe said further assay results from the nearby Beehive deposit are still to come and are expected to play a role in refining mine planning, funding discussions, and potential offtake agreements.
Strategically, the findings strengthen Orom-Cross’s credentials as a potential long-life source of critical graphite at a time when Western markets are seeking to diversify supply away from China. From a market perspective, the company continues to face financial challenges, with no revenue, ongoing losses, and increased cash burn in 2025. However, technical indicators remain supportive, with the share price in a clear uptrend and positive momentum, while valuation remains difficult to assess due to negative earnings and the absence of dividend data.
More about Blencowe Resources Plc
Blencowe Resources Plc is a London-listed natural resources company focused on developing the Orom-Cross Graphite Project in Uganda. The project targets large-scale, near-surface graphite deposits intended to deliver long-life, low-cost supply to global battery and industrial markets seeking secure sources of critical minerals outside China.
Leave a Reply