Akelikongo Nickel Sulphide and Copper Project
Blencowe acquired the right to earn into a highly prospective Akelikongo nickel sulphide and copper project located near to existing Orom-Cross project in Northern Uganda in February 2022.
The two projects are highly synergistic in terms of their proximity and both operations will be run from the Blencowe office in Kitgum which is a central point between the two. Graphite and nickel are two key elements within the lithium-ion battery that is used to power electric vehicles, thus providing further synergies to Blencowe’s resource portfolio.
In total, nearly 19,000m of regional drilling has been conducted at Akelikongo by previous JV owners Rio Tinto and Sipa Resources who originally formed a Joint Venture agreement to develop the project in August 2018. The most prospective of all the exploration targets discovered to date has been at Akelikongo, where three separate nickel-copper mineralised lenses at various depths have already been identified, with EM (electromagnetic) work and drilling identifying both disseminated and massive sulphides.
As at Q1 2022 approximately US$15 million has been spent to date by the previous owners understanding the geology, geochemistry, and geophysics within the Akelikongo tenement and the local region, including substantial drilling in the most prospective areas.
Other nickel targets have been identified in the regional programme around Akelikongo but have yet to be explored in detail. Blencowe believes that the main target, Akelikongo, has sufficient exploration potential to become a nickel project in its own right and the Company will focus its efforts there to delineate higher grade and thicker intercepts of nickel and copper mineralisation going forward.
The regional exploration targets identified also warrant additional exploration.
Three nickel mineralised lenses have been identified based on a detailed examination of cross-sections, long-sections, level plans, and visualisation of data in 3-D mineral exploration software. The mineralised lenses have an overall average grade of 0.37% Ni and 0.12% Cu and thicknesses range from several meters to 25 metres.
Blencowe acquired the right to earn into a highly prospective Akelikongo nickel sulphide and copper project located near to existing Orom-Cross project in Northern Uganda in February 2022.
The two projects are highly synergistic in terms of their proximity and both operations will be run from the Blencowe office in Kitgum which is a central point between the two. Graphite and nickel are two key elements within the lithium-ion battery that is used to power electric vehicles, thus providing further synergies to Blencowe’s resource portfolio.
In total, nearly 19,000m of regional drilling has been conducted at Akelikongo by previous JV owners Rio Tinto and Sipa Resources who originally formed a Joint Venture agreement to develop the project in August 2018. The most prospective of all the exploration targets discovered to date has been at Akelikongo, where three separate nickel-copper mineralised lenses at various depths have already been identified, with EM (electromagnetic) work and drilling identifying both disseminated and massive sulphides.
As at Q1 2022 approximately US$15 million has been spent to date by the previous owners understanding the geology, geochemistry, and geophysics within the Akelikongo tenement and the local region, including substantial drilling in the most prospective areas.
Other nickel targets have been identified in the regional programme around Akelikongo but have yet to be explored in detail. Blencowe believes that the main target, Akelikongo, has sufficient exploration potential to become a nickel project in its own right and the Company will focus its efforts there to delineate higher grade and thicker intercepts of nickel and copper mineralisation going forward.
The regional exploration targets identified also warrant additional exploration.
Three nickel mineralised lenses have been identified based on a detailed examination of cross-sections, long-sections, level plans, and visualisation of data in 3-D mineral exploration software. The mineralised lenses have an overall average grade of 0.37% Ni and 0.12% Cu and thicknesses range from several meters to 25 metres.
Shallow intercepts within the massive sulphides include:
41m at 0.5% Ni and 0.1% Cu, from 34m below surface
11m at 0.42% Ni and 0.12% Cu, from 38m
8m at 0.73% Ni and 0.12% Cu (includes 3m at 1.1% Ni), from 33m
22m at 0.36% Ni and 0.13% Cu, from surface
Forward Exploration Program
Blencowe will undertake the following exploration programme at Akelikongo during 2022:
Phase One (1H 2022)
- Down hole EM (“DHEM”) on the holes that have not been read;
- EM at surface to the northwest of Akelikongo to trace the mineralisation down-plunge and along strike;
- Airborne EM over regional targets identified;
Phase Two (2H 2022)
- Diamond drilling along-strike and down-plunge of the identified mineralisation; and
- Diamond drilling of targets identified from the DHEM and the EM surveys.
This programme above fits neatly into the consideration milestones that have been set for Blencowe to earn into the project, both in terms of cost and timings.
Forward Exploration Program
Blencowe will undertake the following exploration programme at Akelikongo during 2022:
Phase One (1H 2022)
- Down hole EM (“DHEM”) on the holes that have not been read;
- EM at surface to the northwest of Akelikongo to trace the mineralisation down-plunge and along strike;
- Airborne EM over regional targets identified;
Phase Two (2H 2022)
- Diamond drilling along-strike and down-plunge of the identified mineralisation; and
- Diamond drilling of targets identified from the DHEM and the EM surveys.
This programme above fits neatly into the consideration milestones that have been set for Blencowe to earn into the project, both in terms of cost and timings.
