Blencowe Resources (LSE: BRES) has delivered another major milestone at its Orom-Cross graphite project in Uganda, announcing a maiden JORC Mineral Resource for the Beehive deposit that significantly expands the overall scale of the project.

The new Beehive resource adds 21.3Mt @ 6.58% TGC (Inferred).  This lifts total Orom-Cross JORC Mineral Resources to 64.3Mt @ 6.03% TGC

The overall resource spans the Northern Syncline, Camp Lode, Iyan, and now Beehive building upon Blencowe's recent JORC MRE at lyan—Blencowe Increases JORC Mineral Resource Estimate to 43.0Mt - A 66% resource increase from initial MRE

Another Step Change in Scale

The latest upgrade continues the rapid growth trajectory established during the Stage 7 drilling programme.

Since drilling commenced:

• Total Orom-Cross resources have increased by 168%
• Orom-Cross has evolved into a multi-deposit graphite development
• The project now demonstrates clear potential as a large-scale, long-life graphite operation
• Importantly, Beehive is not yet fully defined.

The current resource model covers only ~22% of the total Beehive anomaly, primarily the upper 25–30 metres of the system

Meanwhile, previous drilling has already confirmed graphite mineralisation continuing beyond 100 metres depth.

Strong Grades and Near-Surface Development Potential

The maiden resource also highlights the quality of the deposit.

Key highlights include:

• 17.5Mt @ 7.0% TGC higher-grade component
• Broad near-surface mineralisation
• Strong continuity supporting open-pit mining assumptions

These characteristics typically support:

• Lower strip ratios
• Simpler mining scenarios
• Potentially attractive operating economics

Blencowe also noted the resource conversion cost remains exceptionally low at under US$10 per tonne, highlighting the efficiency of the exploration programme.

DFS Optimisation Now Advancing

With the enlarged resource base now established, the company is progressing further Definitive Feasibility Study (DFS) optimisation work following delivery of its initial DFS publised in December 2025—Blencowe delivers ‘Outstanding’ DFS and gears up for Phase 1 Financing

This next phase is expected to incorporate:

• The materially expanded inventory
• Downstream development pathways
• Ongoing strategic and commercial discussions

An updated DFS optimisation announcement is expected before the end of Q2 2026.

Growth Runway Still Wide Open

One of the most significant takeaways from the recent news, is the remaining upside still embedded within Beehive.

The current resource captures only a small portion of the overall anomaly, while drilling continues to indicate:

• Additional lateral expansion potential
• Strong depth continuity
• Further resource growth opportunities through step-out drilling

This leaves substantial scope for Orom-Cross to continue expanding beyond the current 64.3Mt resource base.

Strategic Importance Increasing

As graphite demand accelerates globally—particularly across battery storage, EVs, defence, and industrial applications—large-scale projects outside China are becoming increasingly strategic.

Orom-Cross is now demonstrating all the charecteristics of a World Class deposit including:

• Scale
• Grade
• Expansion potential
• Long-term development optionality

Combined with ongoing offtake and funding discussions, the project continues to strengthen its position within future critical mineral supply chains, especially high value markets susch as aerospace and defence where Blencowe only recently announced its graphite was used in a successful rocket test programme—Blencowe Graphite Takes Off With Successful Rocket Test Programme

No Let up in Momentum

The maiden Beehive resource represents another defining milestone for Blencowe—one of many delivered over the past few years with the resource base expanding rapidly accross multiple high grade deposits, a further DFS optimisation underway and P1 funding discussions at an advanced stage.

With Orom-Cross continuing to scale at pace, Blencowe is increasingly positioning itself as a potentially significant future supplier into global graphite markets.