UK junior mining firm Blencowe Resources Limited, which is exploring for graphite in Kitgum district, says it has completed additional tests on the products from its drilling campaign, explaining that it now has a better idea of the commercial potential of its Orom- Cross project.
The company announced recently that the additional tests were “critical to understanding the quality of the end-product that Orom-Cross can deliver as a high-grade graphite concentrate, as well as what the process flow will look like to achieve
this on a pre-commercial scale. It also provides significantly greater quantum of end product for end user testing which is critical for the Definitive Feasibility Study.”
Blencowe has commenced the compilation of a definitive feasibility study (DFS) for its Orom-Cross graphite project, with a target of completing the report before June 2023, the company announced.
The commencement of the DFS is yet another sign of Blencowe’s resolve to fund mining activities at the Orom- Cross graphite project, which is located in Kitgum district in northern Uganda.
The DFS is a more detailed study about the resource potential of a project, which a developer can use to source for funding.
It had earlier been reported that Blencowe had dropped its interest in farming into Sipa Resources Limited’s nearby Akelikongo nickle copper project, and that it preferred to instead focus on the Orom-Cross project.
Blencowe, which also recently had a failed bid for the Kilembe Copper Mines, says it is scouting for a partner to undertake the DFS.
“Blencowe is currently in the final stages of a process to select an experienced independent engineering firm to manage and ultimately sig off on the DFS. The company anticipates announcing the engineering partner in the near term,” the company announced in a statement.
Blencowe said it is also looking for different partnerships for its graphite project. Blencowe estimates that there
are about two to three billion tonnes of graphite resources at the Orom-Cross project. The company estimates the value of the project at $482 million.
Blencowe says it needs initial capital $62 million for the first phase of the project, which will end with commissioning in 2025.
Source: The Observer