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Bezant Resources says latest Hope copper-gold results adds motivation to test more ground

“This result has provided us with increased motivation to test the 130km of strike under license and this will be carried out by a heli-airborne survey during this first quarter,” said chairman Colin Bird

Bezant Resources PLC - Bezant Resources says latest Hope copper-gold results adds motivation to test more ground

Bezant Resources PLC (LON:BZT) told investors that the latest results from the Hope copper-gold project in Namibia have provided increased motivation to test the 130 kilometre strike.

The company noted that the findings from assaying the samples of two drill holes completed by Bezant at Hope’s Gorob-Vendome massive sulphide deposit indicate continuity of copper-gold mineralisation within the inferred mineral resource envelope.

Assay results include 3.57 metres at an average 4.36% copper and 0.64 grams per tonne gold, and 3 metres at an average 2.18% copper and 0.26% gold as part of wider copper-gold mineralisation.

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Bezant pointed out that the findings support management's belief that the gold content could be higher than previously reported in the Gorob-Vendome Inferred Mineral Resource estimate and could add considerable value to the project.

It now intends to incorporate the findings into internal valuation studies and into future revised resource estimates.

Further exploration activities are now being planned along the company’s 130 kilometre strike extent in the Hope/Matchless Copper Belt. This is expected to include airborne geophysical surveying to see through the overburden cover which Bezant said has hidden much of the Belt from previous explorers.

"The result of this initial programme achieved the objective of confirming our assertion that gold should be present at the Gorob-Vendome deposit since it is present at the Hope project,” said Colin Bird, Bezant chairman in a statement.

“Both copper and gold values were pleasing and we will obviously internally rework the valuation of Gorob based on the new results. This result has provided us with increased motivation to test the 130km of strike under license and this will be carried out by a heli-airborne survey during this first quarter.”

Elsewhere, Bezant noted that it is also currently planning initial reconnaissance drill holes for its manganese project in southern Botswana.

Drilling is slated to start during in the first quarter, Bird said.

Quick facts: Bezant Resources PLC

Price: 0.221 GBX

AIM:BZT
Market: AIM
Market Cap: £7.83 m
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