Blencowe Resources Plc (LSE:BRES) has reported further encouraging drill results from the Beehive deposit within its Orom-Cross graphite project in Uganda, reinforcing the asset’s potential to support large-scale, long-term production.
Two recently completed deep drill holes at Beehive intersected substantial mineralised zones of approximately 90 to 95 metres, with several high-grade intervals starting close to surface and remaining open at depth. Blencowe said these results build on earlier drilling success at Beehive and complement data from nearby deposits, including Iyan, Northern Syncline, and Camp Lode.
Taken together, the growing body of geological evidence points to Orom-Cross hosting a broad, continuous graphite system with the scale to underpin multi-decade mine life. The company believes this significantly enhances the project’s attractiveness to strategic partners and institutional investors, particularly as demand for secure, long-term graphite supply continues to rise.
Blencowe is currently awaiting assay results from more than 180 additional shallow drill holes, which are expected to further define the size and grade distribution of the resource. At the same time, the company is advancing funding discussions as it positions Orom-Cross as a globally competitive, low-cost graphite development.
Despite the operational progress, Blencowe continues to face financial challenges, including a lack of revenue, ongoing losses, and negative cash flow. While recent corporate activity and strategic engagement provide some longer-term optionality, these financial constraints remain a key factor influencing near-term sentiment.
More about Blencowe Resources Plc
Blencowe Resources Plc is a London-listed mining and exploration company focused on the development of the Orom-Cross graphite project in Uganda. The project is designed around large, near-surface graphite deposits, with the ambition of becoming a low-cost, long-life producer supplying high-quality graphite to global industrial and battery-related markets.
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