Highlights

  • Hole L238B returned 92.55m (TW) @ 6.83% TGC from surface to 120.60m.
  • Multiple high-grade intervals include 15.89m @ 9.42% TGC and 8.38m @ 10.95% TGC.
  • Over 100 Beehive drill results are pending, with additional deep holes underway.

Blencowe Resources Plc (LSE:BRES) reported initial deep-hole assay results from the Beehive Deposit at the Orom-Cross graphite project in Uganda. Beehive is located approximately 3 km from the Northern Syncline and Camp Lode deposits and lies within Mining License ML1959.

Hole L238B returned 92.55 m true width (TW) at 6.83% Total Graphitic Carbon (TGC) from surface to 120.60 m, including high-grade intervals of 15.89 m @ 9.42% TGC and 8.38 m @ 10.95% TGC. The intercept confirms a thick, continuous, near-surface graphite system. This is the first of over 100 holes drilled at Beehive, with further results expected.

Geological Interpretation
The intersection shows continuous graphite mineralisation from surface, extending beyond the ~30 m oxide boundary. The thickness and grade continuity observed in Hole L238B provide information on the scale and extent of the Beehive Deposit. Beehive represents a newly identified deposit with no previous drilling.

Strategic Context
Global demand for graphite continues to increase, with industrial and governmental focus on securing supply outside of China. Orom-Cross, including Beehive, displays characteristics sought by strategic and offtake partners, such as near-surface mineralisation, scale, grade, and potential for expansion.

Drilling Programme Update
The drilling programme at Beehive and the nearby Iyan deposit includes approximately 182 step-out and exploration holes. Additional deep holes are in progress, and assay results from pending holes are expected to extend the understanding of the mineralised footprint.

Share Price Snapshot
BRES was trading 2.24% higher at GBX 0.182 per share as of 23 December 2025.