Blencowe says Iyan deposit continues to deliver as expected
Blencowe Resources PLC has reported further assay results from shallow drilling at the Iyan deposit in Uganda, where a batch of 12 drill holes confirmed intersections of mineralisation from surface in most holes.
The results are part of the Stage 7 drill programme at the company’s Orom-Cross graphite project, and the aim was to define near-surface, mineable material.
Several of the shallow holes, which were drilled down to around 30 metres, remained ‘in mineralisation’.
“Iyan continues to deliver exactly what we are looking for at this stage, with consistency, scale and quality at shallow depth,” said executive chair Cameron Pearce.
“Even as a bulk blending deposit, we continue to see higher-grade zones within thick intersections, which is a very attractive characteristic for mine planning and long-life production.
“With many holes again ending in mineralisation, and deeper drilling at both Iyan and Beehive already demonstrating continuity to around 100 metres, we see clear scope to evaluate depth extensions in due course.”
Drilling detail
Blencowe highlighted selected shallow intercepts at Iyan. These included NSDD-L705 returning 31.20 metres at 6.84% total graphite content (TGC), including 12.16 metres at 10.89% TGC, and NSDD-L707 returning 30.20 metres at 7.55% TGC, including 5.0 metres at 11.74% TGC. Other reported intercepts included NSDD-L1003 with 30.27 metres at 6.27% TGC and NSDD-L706 with 30.76 metres at 5.27% TGC.
The company is advancing Iyan as a bulk blending deposit. It said the deposit is intended to provide consistent, near-surface, high-tonnage graphite feed to support long-life, low-cost production. Blencowe added that higher-grade zones continue to occur within broader bulk mineralisation, which it said provides flexibility for blending and mine planning.
Findings from the programme are expected to feed into an updated JORC resource estimate in Q1 2026.
The company also said assay results are pending from a completed shallow drilling programme at the nearby Beehive deposit. It said the Beehive programme comprised over 100 holes drilled to around 30 metres and results are expected to be reported in batches.
Pearce added: “These results align with increasing Western focus on securing long-term supplies of critical minerals outside China. Continued drilling success strengthens the resource base that underpins longer-life development scenarios and supports larger-scale, longer mine life, and will assist with funding discussions and offtake discussions underway.
“We will look to get out all remaining Iyan and Beehive drill results in February and build toward the next Orom-Cross resource update thereafter.”
