Blencowe’s Iyan MRE increases overall Ugandan project mineral base
London-listed Blencowe Resources has completed a maiden Joint Ore Reserves Committee- (Jorc-) compliant mineral resource estimate (MRE) for the recently discovered Iyan deposit at its 100%-owned Orom-Cross graphite project, in Uganda.
The maiden Iyan MRE incorporates assay results from the 87 shallow drill holes completed to date with an inferred mineral resource of 16.9-million tonnes at 6% total graphite carbon (TGC), confirming Iyan as a high-tonnage, near-surface extension of the wider Northern Syncline graphite system.
The addition of Iyan materially increases the overall Orom-Cross mineral resource base and further demonstrates Orom-Cross as a multi-deposit, long-life, large-scale graphite development, the company highlights.
“Today’s maiden Iyan Jorc mineral resource is a major step forward for Orom-Cross. It defines 16.9-million tonnes at 6% TGC, adding near-surface tonnes with strong continuity, and lifts total Jorc mineral resources by 66% to 43-million tonnes across the Northern Syncline, Camp Lode and Iyan deposits.
“This increased scale and the growing deposit pipeline support our ongoing strategic and funding discussions as we progress development planning,” executive chairperson Cameron Pearce comments.
“Importantly, we are not done. Mineralisation remains open along strike and at depth, and Beehive results are now coming through, which we expect to incorporate into a future Jorc update,” he adds.
Beehive is another deposit within the larger Orom-Cross project area.
The increased scale and deposit pipeline support ongoing strategic and funding discussions as the company progresses development planning.
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