Blencowe Advances Drilling Programme at Orom-Cross Graphite Project
Why we think this is neutral
The RNS provides an update on Blencowe's drilling program at the Orom-Cross graphite project in Uganda, with no material financial impact reported. The company has completed geotechnical drilling, mobilized additional rigs, and plans to conduct infill and step-out drilling to expand resources and reserves. While this is a positive operational development, the lack of financial information limits the ability to fully assess the impact on the business.
Key Points
- Geotechnical drilling completed at Camp Lode deposit
- Additional drill rigs mobilized to accelerate drilling campaign
- Planned infill and step-out drilling to expand Resources and Reserves
- Positive engagement with Ugandan government and EU representatives
Summary
Blencowe Resources Plc (LSE: BRES) has provided an update on its 7,000-meter drilling program at the Orom-Cross graphite project in Uganda. The company has completed geotechnical drilling, mobilized additional rigs, and plans to conduct infill and step-out drilling to substantially increase JORC Resources and Reserves. Blencowe has also engaged with the Ugandan government and the European Union, who expressed satisfaction with the project's advancement.