TIDMBZT
RNS Number : 3594W
Bezant Resources PLC
22 April 2021
22 April 2021
Bezant Resources Plc
("Bezant" or the "Company")
Minemba Prospect Kalengwa Copper Project, Zambia
Bezant (AIM: BZT), the copper-gold exploration and development
company, is pleased to announce a further significant copper
intercept in its second drill hole at the Minemba prospect within
the Kalengwa exploration project area in Zambia (the " Kalengwa
Exploration Project ") in which the Company has a 30% interest and
acts as operator.
Highlights
-- Copper mineralisation has been intersected over 114m downhole
width within altered and brecciated gabbro intrusive rocks in the
second hole at Minemba
-- Preliminary hand-held XRF measurements (to be confirmed with
geochemical assays taken from half-core samples) returned copper
grades over the following down-hole intervals*:
o 6m @ 1.67% Cu from 99-105m
-- including 2m @ 2.90% Cu from 103-105m
o and 17m @ 0.94% Cu from 119-136m
-- including 3m @ 3.49% Cu from 125-128m
o and 20m @ 0.84% Cu from 144-164m
-- including 5m @ 1.62% Cu from 144-149m
o and 20m @ 1.05% Cu from 193-213m
-- including 12m @ 1.21% Cu from 193-205m
*Down-hole widths quoted - true widths not currently known
-- The provisional results support the width and tenor of the
intersections encountered in the first hole MB-01, located about
100m distant.
-- Mineralisation in MB-02 occurs as disseminations and
replacements of chalcopyrite within the gabbro intrusive
-- Combined with records from historic drilling, mineralisation
at Minemba has now been traced laterally for at least 350m
-- The Company is planning for a detailed geophysical survey at
Minemba to help direct further drilling by mapping the extent of
the magnetic gabbro and assisting in delineating areas of
conductive copper-pyrite mineralisation
-- Further drilling is being planned which will be guided by geology and geophysics
-- The provisional results are subject to lab assays which are
anticipated to be available in the second half of May 2021
Colin Bird, Executive Chairman of Bezant, commented :
"We are very pleased with the 114m interval of continuous
mineralisation. The archives did not suggest this to be the case
and we are particularly encouraged by the geological sequence which
is the same as in the nearby rich copper pit at Kalengwa which
produced 1.9Mt @ 9.44% Cu.
We have identified 350m of mineralised strike to date and, in
order to build up a significant copper tonnage, we intend to carry
out a ground IP geophysics survey as well as drilling at least two
further holes in the vicinity of the two already completed holes.
We are pleased with the results to date as we have not yet tested
several other targets on the large Kalengwa property, including a
13km zone of enhanced soil geochemistry along an interpreted
structure. We plan to carry out initial geophysical surveying on
this target while the geophysics crew is on site."
Bezant Drilling
The aim of Bezant's drill programme was to test the down-plunge
and along-strike extent of the earlier drill intercepts at Minemba
within the gabbro intrusive (potential mineral feeder zone) while
also looking to test the boundaries of this unit with the Kalengwa
Mine sedimentary package (potential host unit). Two holes were
planned in this initial reconnaissance programme.
Hole MB-02 was drilled at -50(o) towards the northwest, stepping
out about 100m northeast from historic hole MN 496 and a similar
distance north-northeast from the first Bezant hole, MB-01. The
hole was completed at a depth of 237.2m, with a summary log as
follows:
0 - 31m Overburden and saprolite
31 - 99m Partly weathered massive and brecciated gabbro
99 - 219m Gabbro intrusive rock, brecciated in parts, with
carbonate veining; iron occurs as magnetite & hematite;
chalcopyrite appears throughout the interval as irregular
disseminations and blebs, associated with pyrite
219 - 237.2m Shale/Siltstone conglomerate unit with disseminated
pyrite
End of hole
This second hole at Minemba supports the occurrence in MB-01 of
more widespread disseminated copper mineralisation than reported in
the historic holes and mineralisation is now recorded in historic
and current drilling over at least 350m in a NE-SW direction, as
well as more than 100m in a vertical dimension.
Core from this hole is being fully logged and will be split for
laboratory assay.
The Company is now planning a geophysical survey to define the
shape and extent of the deposit to help guide further drilling.
Minemba Target
The Minemba target was first identified by Roan Consolidated
Mines ('RCM'), the operator of the Kalengwa open pit copper-silver
mine in the 1960s, based on a copper geochemical anomaly found by
auger drilling 4km to the northeast of Kalengwa, associated with a
discrete magnetic anomaly believe to be related to gabbro intrusive
rocks. Five diamond drill holes spaced 100-200m apart and angled
towards the north were completed at that time. Four of these
reported steeply-dipping chalcopyrite-pyrite mineralisation over
narrow intervals at depths ranging from 80-200m below surface
within the gabbro. Drill intercepts included 4.3m @ 1.43% Cu (hole
MN 496) and 2.7m @ 2.08% Cu (MN 495). Despite the proximity to the
high grade Kalengwa mine, no further diamond drilling was
subsequently carried out.
Bezant reviewed the extensive dataset from previous exploration
over the Kalengwa exploration licence and concluded that Minemba
was located on a structural mirror image of the Kalengwa deposit
setting, aligned directly with the offset continuation of the
NE-trending Kalengwa Lineament and therefore the target was
prioritised for further drill testing.
Technical Sign-Off
Technical information in this announcement has been reviewed by
Edward (Ed) Slowey, BSc, PGeo, technical director of Bezant. Mr
Slowey is a graduate geologist with more than 40 years' relevant
experience in mineral exploration and mining, a founder member of
the Institute of Geologists of Ireland and is a Qualified Person
under the AIM rules. Mr Slowey has reviewed and approved this
announcement.
For further information, please contact:
Bezant Resources Plc
Colin Bird
Executive Chairman +27 726 118 724
Beaumont Cornish (Nominated Adviser)
Roland Cornish +44 (0) 020 7628 3396
Novum Securities Limited (Broker)
Jon Belliss +44 (0) 20 7399 9400
or visit http://www.bezantresources.com
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").
Glossary
"brecciated" Rock fragmented into angular components
"chalcopyrite" A copper-iron sulphide mineral, CuFeS(2)
, often found in copper ores
"conglomerate" Sedimentary rock formed by the cementing
together of water-rounded pebbles
"Cu" Chemical symbol for copper
"gabbro" A coarse grained mafic intrusive rock composed
of pyroxene and plagioclase, similar in
composition to dolerite
"hematite" A mineral composed of ferric iron oxide.
"magnetite" A magnetic iron oxide, Fe(3) O(4)
"pyrite" Iron sulphide mineral, FeS(2)
"silicified" Descriptive of a rock in which original
minerals have been replaced by silica.
"XRF Spectrometer" Instrument to determine the chemistry of
a sample by measuring the fluorescent (or
secondary) X-ray emitted from a sample
when it is excited by a primary X-ray source
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END
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