Bezant Resources PLC (AIM:BZT) said it intersected visible copper mineralisation in initial drilling at its Gorob prospect, part of the Hope and Gorob copper-gold project in Namibia.
Eight drill holes were completed at the Gorob prospect for a total of 395.96 metres (m), (out of a 2,000m programme), with drill holes consistently intersecting visible copper mineralisation at, and near-surface, said the AIM-traded company.
"The exploration programme for Hope and Gorob has been directed towards testing for the presence of near surface sulphides and oxides,” said executive chairman Colin Bird. “To date there has been very little oxide but we are very pleased that all holes drilled include sulphide zones of reasonable thickness.”
“The intersections have been as close as 20m from surface and visual inspection suggest that copper values will be consistent with deeper intersections.”
The drilling programme was designed to develop a resource at less than 150m deep, a portion of which will be open pit-able, and so minimize the time taken to get to production.
The company also located a 140m deep vertical shaft, which was excavated in the 1970s, at the Hope prospect and said that an investigation of the shaft and its alignment with known and projected near-surface mineralisation indicated scope for a high-grade near-term production opportunity.
Bezant noted that the shaft’s location, in relation to drilled mineralisation and the latest surface projections, is expected to significantly reduce future capital expenditure on underground development.
The project covers a significant portion of the highly prospective Matchless copper belt.