Blencowe Resources PLC (LSE:BRES) said final assay results from its Stage 7 drilling at the Iyan deposit in Uganda again delivered thick, near-surface graphite intercepts, clearing the way for a maiden JORC resource estimate expected in Q1 2026.
"These further great results from Iyan continue to exceed our expectations," said executive chair Cameron Pearce.
"We are seeing thick graphite from surface, strong grades, and excellent consistency across the deposit, which is exactly what we need as we build scale at Orom-Cross. With the maiden Iyan JORC estimate now imminent, these results clearly demonstrate the size and quality of the resource."
Blemcowe noted that the final batch completes the Stage 7 programme at Iyan, where 87 holes were drilled, and the latest shallow holes were taken to around 30 metres to define mineable material rather than push geological limits.
It highlighted multiple intercepts of more than 30 metres from surface and noted several holes ended in mineralisation, indicating potential continuity below the current drilling depth.
Selected results included 15.64 metres at 10.13% total graphitic carbon (TGC) in hole NSDD-L103, which contained narrower higher-grade zones up to 18.37% TGC.
Other reported intercepts included 9.44 metres at 11.42% TGC in NSDD-L307 and 13.71 metres at 8.26% TGC in NSDD-L508, which ended in mineralisation.
Blencowe is advancing Iyan as a bulk blending deposit within its Orom-Cross Graphite Project, aiming to provide consistent, shallow, high-tonnage feed and flexibility from higher-grade zones within the broader mineralised package.
In parallel, it said assays remain pending at the nearby Beehive deposit, with a resource estimate for Beehive expected to follow.