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Projects

The key focus of the Company now it is the largest shareholder in Blencowe PLC (the new owner of the project) is to assist Blencowe on any way to explore and exploit the Oram Project:

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(a) (The Orom Project): On completion of the Share Sale Agreement Blencowe PLC will explore and exploit the potential of the graphite deposits that are found within the exploration licence 1025 (EL 1025) which covers an area in the vicinity of Kitgum, Uganda (the Orom Project). The tenement covering the The Orom Project has been evaluated by the Independent Geologist's Report (refer to Section 7 of the Prospectus) which outlines the following key characteristics:

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  • EL 1025 is a tenement which covers an area of approximately 323sq km located near Kitgum, Uganda. Kitgum is approximately 660 km north-east of Kampala, Uganda.

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  • The tenement covers the rights to graphite and other mineral deposits.

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  • Maiden pit sampling was conducted at the site between December 2013 - January 2014 where results had indicated that:

    • The exposures within the tenement had revealed three (3) primary rock types being either (i) graphite gneiss; (ii) quartzo-felspathic rocks; or (iii) acid to intermediate pyroxene and hornblende granulites.

    • Sampling had averaged results of above 10% in relation to total graphitic carbon.

    The Orom Project is supported by limited infrastructure.

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(b) The Company also has entered into a Mining Licence Sale Deed to acquire Ugandan Exploration Licence (EL) 1173 over the tenement which covers an area in the region Karamoja, Uganda. (Refer to Section 13.3 of this Prospectus for further details). This licence covers a graphite prospect which lies directly alongside the strike identified in EL1025 and covers an area of 93.508 sq km where graphite has been found. The aim of Blencowe PLC will be to consolidate the two licences. Minerals covered under these exploration licences are gold, graphite, cobalt, copper, graphite, nickel and other base metals.

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Blencowe PLC has a management team skilled in the evaluation, procurement and advancement of mineral projects. The management team has a primary focus in the field of mining exploration and advancement of mineral deposits in Uganda.

Background Information on Graphite Projects EL 1025 & EL 1173

Progress Report_EL1025_RL_06_06
Progress Report_EL1173_RL_05_26

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