Blencowe Resources (BRES)

Sector:

Mining

3.90p
   
  • Change Today:
    -0.100p
  • 52 Week High: 5.00
  • 52 Week Low: 3.70
  • Currency: UK Pounds
  • Shares Issued: 217.23m
  • Volume: 509,812
  • Market Cap: £8.47m
  • RiskGrade: 319

Blencowe Resources outlines high-grade zone at Orom-Cross

By Josh White

Date: Wednesday 27 May 2020

LONDON (ShareCast) - (Sharecast News) - Blencowe Resources updated the market further on its ongoing JORC resource diamond drilling programme at the Orom-Cross Graphite Project in Northern Uganda on Wednesday, reporting that a "highly prospective" high-grade zone had now been outlined about 250 metres from the current exploration camp site.
The London-listed firm said that followed a review and remodelling of geophysical survey programme data acquired earlier in the year, as well as historical pitting and drill results.

It said the identification of the new high-grade zone, which was also in close proximity to the intended plant location, had the potential to lower operating costs, as well as deliver additional economic benefits for the overall project.

Following the lifting of travel restrictions as a result of Covid-19, the company was now mobilising drill teams to the site to restart the previously-described broader drilling programme.

It added that it had now authorised the redirection of a drill rig to test the zone with a single drill hole.

That hole was subsequently expected to be completed within the next 10 days, and would be reported on in due course along with additional drilling results.

"Blencowe is looking at all ways possible to continuously add value to the Orom-Cross Project and the identification of this high-grade cone near to infrastructure is further indication of this," said executive chairman Cameron Pearce.

"We will complete initial confirmatory drilling on this first hole shortly and if the results are positive we will consider how best to include this zone into the overall JORC resource programme that is underway."

At 1232 BST, shares in Blencowe Resources were up 8.24% at 9.2p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BRES Market Data

Currency UK Pounds
Share Price 3.90p
Change Today -0.100p
% Change -2.50 %
52 Week High 5.00
52 Week Low 3.70
Volume 509,812
Shares Issued 217.23m
Market Cap £8.47m
RiskGrade 319

BRES Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
28.31% below the market average28.31% below the market average28.31% below the market average28.31% below the market average28.31% below the market average
5.34% above the sector average5.34% above the sector average5.34% above the sector average5.34% above the sector average5.34% above the sector average
Value
28.31% below the market average28.31% below the market average28.31% below the market average28.31% below the market average28.31% below the market average
5.34% above the sector average5.34% above the sector average5.34% above the sector average5.34% above the sector average5.34% above the sector average
Income Not Available
Growth Not Available

BRES Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
15:57 60,789 @ 4.07p
15:37 8,259 @ 4.07p
15:26 48 @ 4.10p
15:26 182 @ 4.10p
15:26 199 @ 3.70p

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