The approvals provide for a two-year exploration period to 3 May 2021 and permit work on topography, geophysics, soil geochemistry, geological mapping and diamond drilling.
The objective of the next stage of preparatory work will be to define final drill targets for a diamond drilling programme comprising up to nine holes with target depths of approximately 200 metres to 300 metres per hole from surface.
The company's strategy remains to seek a joint venture partner focussed on South America and capable of financing such a drilling campaign. The company does not currently intend to pursue a drilling campaign in its own right but will undertake preparatory work to define primary drill targets on the area of focus.
"The hypothesis we are pursuing is that there is both near-surface sedimentary copper sufficient in grade to be mined in the future as well as high grade feeder zones within 300 metres beneath surface,” said Bezant chief executive Laurence Read.
“Whilst progressing preparatory work, the company will continue to identify and assess suitable potential JV partners for the further development of the project."