Blencowe Resources (LSE:BRES) has reported a maiden JORC (2012) Mineral Resource for the Beehive deposit, adding 21.3Mt at 6.58% total graphitic carbon (TGC) and taking Orom-Cross resources to 64.3Mt.
Beehive follows the earlier maiden Iyan resource that took the inventory to 43.0Mt and marks a 168% increase in total Orom-Cross JORC Mineral Resources since the start of the Stage 7 drilling programme.
The current Beehive model covers only about 22% of the target anomaly and is largely confined to the upper 25-30 metres, while prior deep drilling has demonstrated continuity of mineralisation to c.100m, indicating clear scope for further growth.
Blencowe also reports a higher‑grade component of 17.5Mt at 7.0% TGC and restates total Orom‑Cross JORC Mineral Resources of 64.3Mt at 6.03% TGC (Measured 1.20Mt @ 5.13% TGC; Indicated 16.41Mt @ 5.7% TGC; Inferred 46.70Mt @ 6.17% TGC).
The company says these conversion results were achieved at a conversion cost of under US$10/tonne.
DFS optimisation work to incorporate the enlarged inventory, downstream pathways and commercial discussions is well advanced and an update is expected prior to the end of Q2.
"Beehive adds 21.3 million near‑surface tonnes at 6.6% TGC, lifting total Orom‑Cross JORC Mineral Resources to 64.3 million tonnes," said Executive Chairman Cameron Pearce.
