TIDMBZT
RNS Number : 8961C
Bezant Resources PLC
24 June 2021
24 June 2021
Bezant Resources Plc
("Bezant" or the "Company")
Update on Kanye Manganese Project, Botswana
Bezant (AIM: BZT) is pleased to provide information detailing
results of recently completed reconnaissance mapping, prospecting
and sampling work at its' 100% owned high-grade Kanye manganese
project in Botswana.
Highlights:
-- Up to four historic manganese occurrences were successfully
located and sampled in the field within an 8km-belt
-- 40 grab samples were obtained which assayed from traces up to
high-grade results of 67.18% MnO occurring at the Moshaneng borrow
pit and 68.01% MnO at the Mheelo prospect
-- The latter prospect is located just 6km from the Giyani
Metals K-Hill manganese project where a feasibility study is due
for completion in Q3 2021 (April 2021 PEA indicates an 80% IRR)
-- Bezant plans to follow-up the main targets with
clearance/trenching by mechanical excavator to facilitate detailed
mapping, prospecting and more systematic sampling
-- Confirmed targets will be drill tested to define lateral and depth extent of deposits
Colin Bird, Executive Chairman of Bezant, commented :
"The reconnaissance prospecting and sampling work has given
exciting indications of potential for high-grade manganese deposits
suitable for upgrading to high-purity for battery manufacture. The
extent of the area containing manganese mineralisation at the
Moshaneng Borrow Pit has been expanded considerably as a result of
our work, reinforcing our original thoughts regarding the potential
in that area. We now intend to to carry out a programme of pitting
and trenching to lead us towards the best targets and help optimise
a drilling programme."
Work Completed
Reconnaissance field visits were made to several of the known
areas of high-grade manganese mineralisation on PL129/2019. The aim
was to conduct initial site visits to the main prospects, several
of which were poorly constrained and documented in the limited
historical records, as it is about 50 years since the last
significant exploration work in the area. In the interim, the
recorded prospects have become overgrown and difficult to locate.
Where found by the Company, preliminary mapping and prospecting was
carried out and a total of 40 confirmatory grab samples was
collected for laboratory analysis.
Two visits were paid to the Moshaneng borrow pit close to a main
road, where material has been excavated for road construction and
where previous rock sampling had indicated high manganese grades.
In addition, the historical prospects at Mheelo, Loltware and near
the Moshaneng talc mine were re-discovered, prospected and grab
sampled. More detailed mapping and sampling was possible at the
Moshaneng borrow pit where active excavation for road material had
exposed new zones of interest.
In the borrow pit manganese mineralisation sits directly on top
of a dolomite unit and is concentrated in erosional channels/Karst
structures. A detrital manganese-rich layer of cherty boulders is
also evident. Several grab samples of material from boulders and
breccia zones in locations up to 400m apart assayed >50% MnO, up
to a maximum of 67.18% MnO, which compares well with previously
reported results.
At the Mheelo prospect, about 7km east-southeast of the
Moshaneng borrow pit, a one-metre thick layer of manganese
mineralisation was reported historically. The site of old
exploration trenching has become heavily overgrown, however at
least one 100-150m long trench was successfully re-located. Grab
samples from manganiferous pebbles/boulders in the area of the
trench assayed up to 68.01% MnO. Considerable clearing of scrub and
further excavation will be required to facilitate geological
mapping and more systematic mapping.
At Loltware prospect, half way between Moshaneng and Mheelo,
there are historic reports of manganiferous chert outcrop and
banded iron formation (BIF). Although the old exploration trench
was not relocated during the Bezant site visit, two samples of
manganese-enhanced boulders were found which assayed up to 34.73%
MnO, suggesting that the source is close to the area visited.
To follow up the success of the site visits in relocating the
historically recorded high-grade manganese occurrences, the Company
plans to return to the sites with a mechanical excavator to clear
and trench the targets in order to facilitate detailed geological
mapping, prospecting and more systematic sampling, with the aim of
identifying shallow drill targets. Consideration will also be given
to geophysical surveying to trace the mineralised zones laterally
under thin overburden/cover rock.
Background on the Kanye Manganese Project (as previously
announced)
Licences & location: The Kanye Manganese Project comprises a
collection of nine prospecting licenses ("PLs") covering a total
area of 4,043km(2) , located in south-central Botswana south of the
town of Jwaneng and west of the town of Kanye and 150km by road
from the capital Gaborone.
Geological setting: The target for manganese mineralisation is
manganiferous shale horizons located on the contact between the
Taupone Group and the underlying Black Reef Formation. This
geological setting is similar to that of the Giyani Metals Corp
manganese occurrences on their Kwgakgwe Hill (K-Hill), Otse and
Lobatse projects which are located just a few kilometres off the
Kanye property. The most significant of these (K-Hill) comprises a
manganese-rich black shale formation within the lower Taupone Group
containing an Inferred Mineral Resource of 1.7 million tonnes
grading 25.7% MnO at a cut-off grade of 7.3% MnO prepared in
accordance with Canadian National Instrument 43-101 (as reported by
Giyani Metals Corp. in April 2021 as part of an updated PEA).
Previous exploration : Previous exploration on the Kanye
property has highlighted numerous manganese prospects which have
not been systematically explored. These include: the Moshaneng
Borrow Pit where a number of grab samples assaying up to 71% MnO
were reported from massive manganese mineralisation; the Mheelo
prospect, where reports mention that "pure manganese ore to a depth
of 1.8m was intersected and the base of the mineralisation was not
reached". Historical channel samples on the Mheelo Prospect
(located within PL129/2019) yielded grades of 53.1% to 74.2% MnO;
the Loltware Prospect, approximately 4km to the west of Mheelo
where historical reports noted manganese outcrop with sample assays
up to 43.6% MnO; the Lowe Prospect, comprised of chert that yielded
historical manganese assay results up to 58.5% MnO; a local talc
mine where six large bulldozed trenches are reported with
historical sample assays up to 54% MnO.
For further information, please contact:
Bezant Resources Plc
Colin Bird
Executive Chairman +44 (0)20 7581 4477
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").
Qualified Person:
Technical information in this announcement has been reviewed by
Edward (Ed) Slowey, BSc, PGeo, technical director of Bezant
Resources Plc . 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.
Glossary
The following is a summary of technical terms:
"banded iron formation Chemical sedimentary rock composed of finely
(BIF)" alternating layers of silica and iron oxide,
iron silicates or iron carbonates
"breccia" Rock fragmented into angular components
"cut-off grade" The grade above which samples are included
in a mineral resource or reserve
"dolomite" Calcium-magnesium carbonate mineral, (CaMg)CO3,
or a rock composed largely of the mineral
dolomite
"Inferred Mineral That part of a Mineral Resource for which
Resource" quantity and grade (or quality) are estimated
on the basis of limited geological evidence
and sampling. Geological evidence is sufficient
to imply but not verify geological and grade
(or quality) continuity. It is based on exploration,
sampling and testing information gathered
through appropriate techniques from locations
such as outcrops, trenches, pits, workings
and drill holes
"Karst" A topography formed from the dissolution of
soluble rocks such as limestone, dolomite,
and gypsum
"mineralisation" Process of formation and concentration of
elements and their chemical compounds within
a mass or body of rock
"MnO" Manganese oxide
"National Instrument A national instrument for the Standards of
43-101" Disclosure for Mineral Projects within Canada
"PEA" Preliminary Economic Assessment
"shale" A fine-grained laminated sediment
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