TIDMBRES
RNS Number : 4757N
Blencowe Resources PLC
23 January 2023
Date: 23 January 2023 Blencowe Resources Plc
("Blencowe" or the "Company")
Appointment of Leading Engineering Firm to Manage Orom-Cross
DFS
Highlights
-- Blencowe continues to progress the Orom-Cross project with
appointment of a notable engineering firm to manage the Definitive
Feasibility Study ("DFS").
-- Appointment of CPC Engineering ("CPC") of Perth to lead and develop the DFS for Orom-Cross.
-- CPC have extensive experience in African graphite projects
and Blencowe will leverage this knowledge to refine the delivery of
the Orom-Cross DFS.
Blencowe Resources Plc ("Blencowe Resources" or the "Company")
(LSE: BRES) is pleased to announce it has engaged leading
engineering firm CPC Engineering to lead, deliver and sign off on
the DFS for the Orom-Cross Graphite Project.
CPC has extensive experience in other leading graphite projects
in East Africa, having completed the DFS for the Maniry Graphite
Project (Black Earth Minerals, ASX: BEM) in Madagascar, as well as
both the Mahenge (Black Rock Mining Ltd, ASX: BKT) and Chilalo
Graphite (Evolution Energy Minerals, ASX: EV1) Projects in Tanzania
and the scoping study for the Ancuabe Graphite Project (Triton
Minerals, ASX: TON) in Mozambique. CPC also completed the detailed
engineering, procurement, construction support and commissioning
services for the Syrah Resources (ASX: SYR) Balama Graphite Project
in Mozambique.
Blencowe is pleased to have partnered with a firm with extensive
experience in both graphite and flotation circuits. CPC will work
with the Company and various other Ugandan service providers in the
delivery of the DFS for Orom-Cross Graphite in 2023.
The CPC works will include:
-- Optimisation of the process plant design, incorporating
results of the various testwork programs from SGS, IMO and the
pilot plant works (Jilin/China) along with CPC's expertise in
design and construction of graphite process plants.
-- Provide updated and optimised CAPEX and OPEX for project cost and schedule certainty;
-- Provide updated project costs and schedule for the Project non-processing Infrastructure.
-- Sign off on full DFS once completed to provide the third
party approval from a recognised leading technical firm as required
to ensure project funding support.
Cameron Pearce, Executive Chairman commented;
"We are pleased to add another high-quality partner to the
Orom-Cross Project. CPC has a very impressive track record within
the graphite market and we are now able to leverage off their
skills, experience and relationships to ensure we deliver a first
class DFS."
He continued "The graphite market continues to shift in our
favour and we expect the supply-demand imbalance to widen further,
as demand for graphite accelerates, given its material role within
lithium-ion batteries. Orom-Cross has continued to exceed our
expectations and we remain focused on delivering a world class
project. CPC are recognised as one of the top tier engineering
firms within the graphite sector and their sign off on the DFS will
not only help optimise the Project, but also provide the
credibility required for project funding and market support."
For further information please contact:
Blencowe Resources Plc www.blencoweresourcesplc.com
Sam Quinn Tel: +44 (0)1624 681 250
info@blencoweresourcesplc.com
Investor Relations Tel: +44 (0) 7891 677 441
Sasha Sethi sasha@flowcomms.com
Tavira Financial Tel: +44 (0)20 3192 1733
Jonathan Evans Jonathan.evans@tavira.group
First Equity Limited Tel: +44(0)20 7330 1833
Jason Robertson jasonrobertson@firstequitylimited.com
Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/72382491/admin/
About CPC Engineering
CPC Engineering is a privately owned, Perth-based engineering
company with 50 years' experience providing reliable and practical
engineering solutions to the resources industry, both nationally
and internationally. CPC employs over 350 personnel and specialises
in engineering design, construction and maintenance.
CPC Project Design is located at CPC Engineering head office in
West Perth and is a multidiscipline engineering design,
procurement, construction and project management team which has
developed a reputation for delivering practical and cost-effective
services to the resource industry.
CPC has extensive resource engineering experience with clients
that include Syrah Resources, BlackEarth Minerals, Black Rock
Mining, Albemarle, First Quantum, AngloGold Ashanti, Tronox Limited
OceanaGold, Newmont, Barrick Gold and Sandfire Resources.
Background
Orom-Cross Graphite Project
Orom-Cross is a potential world class graphite project both by
size and end-product quality, with a high component of more
valuable larger coarse flakes within the deposit.
A 21-year Mining Licence for the Project was issued by the
Ugandan Government in 2019 following extensive historical work on
the deposit and Blencowe completed a successful Pre-Feasibility
Study in 2022. The Company has now moved into the Definitive
Feasibility Study phase as it drives towards first production.
Orom-Cross presents as a large, shallow open-pitable deposit,
with a maiden JORC Indicated & Inferred Mineral Resource
deposit of 24.5Mt @ 6.0% Total Graphite Content, with only a small
percentage of the overall deposit drilled to date. Development of
the resource is expected to benefit from a low strip ratio and free
dig operations, thereby ensuring lower operating and capital
costs.
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