Blencowe Resources Delivers Further Standout Graphite Intercepts at Beehive Deposit
Why we think this is neutral
This RNS announcement provides a general update on the company's exploration activities and drilling results at the Beehive deposit within the Orom-Cross graphite project in Uganda. While the results appear positive, with the company reporting further high-grade graphite intercepts, this announcement does not contain any of the mandatory news types specified, such as contract news, order news, trading update, or financial results. Therefore, a neutral sentiment score is assigned.
Key Points
- Blencowe Resources reports further positive drilling results from the Beehive deposit at its Orom-Cross graphite project in Uganda
- Hole L237B returned 93.98m (TW) @ 6.03% TGC, including high-grade intervals up to 14.64% TGC
- Hole L239B returned 95.45m (TW) @ 5.62% TGC, including high-grade intervals up to 18.90% TGC
- Results continue to demonstrate the scale, continuity and high-grade nature of the Beehive deposit
- Company believes Orom-Cross has the potential to support long-life, multi-decade graphite production
Summary
Blencowe Resources (LSE: BRES) has reported further positive drilling results from the Beehive deposit at its Orom-Cross graphite project in Uganda. The company announced two additional deep-hole assay results, with hole L237B returning 93.98m (TW) @ 6.03% TGC and hole L239B returning 95.45m (TW) @ 5.62% TGC. These results, combined with the previously reported exceptional intercept from hole L238B, continue to demonstrate the scale, continuity and high-grade nature of the Beehive deposit. The company believes these results support Orom-Cross as a graphite system capable of underpinning long-life, multi-decade production, which is a key consideration for strategic and institutional funding groups.