TIDMBZT
RNS Number : 2767N
Bezant Resources PLC
29 September 2021
29 September 2021
Bezant Resources Plc
("Bezant" or the "Company")
Modelling of EM Survey Data and drill planning completed at Hope
Cu-Au Project
Bezant (AIM: BZT), the copper-gold exploration and development
company, is pleased to announce that modelling of data and drill
hole planning from the airborne electromagnetic (EM) and magnetic
survey completed in May 2021, over a large part of its Hope
Copper-Gold licence block (EPL 5796) in Namibia has highlighted
four highly prospective drill targets, ready for drill testing
planned for November 2021.
Highlights:
-- Modelling and drill hole planning of data from Bezant's
helicopter-borne EM survey, covering about 3,000 line kms along a
130km strike extent of the Matchless Copper Belt on EPL 5796 has
highlighted at least four highly prospective drill targets
-- The EM survey was designed to look for buried extensions of
the Hope and Gorob-Vendome deposit cluster on EPL 5796, as well as
testing the extensive underexplored potential through EPLs 7170 and
6605
-- Two previously undrilled anomalies with similar signatures to
established deposits are located in close proximity to the
Gorob-Vendome deposit cluster
-- A third undrilled anomaly 1.8km in length with similar
signatures to established deposits is located along strike to the
east of the Hope and Anomaly West deposit cluster
-- A fourth target, approximately 2km in length has also been
discovered in a new area with no record of previous exploration
-- Arrangements for approximately 3,000m of diamond drilling to
test these new EM targets are well advanced, with start-up planned
for November 2021
Colin Bird, Executive Chairman of Bezant, commented :
"The Matchless Copper Belt is a large occurrence that has had
very little testing both invasive and geophysical. The completed EM
survey and subsequent modelling is the first attempt to identify
the true potential of the Copper Belt. We received a positive
result from our survey and have generated a number of targets of
significance. A cluster of targets have been identified near our
Hope and Gorob Vendome deposit, that bodes well for increasing the
size of the deposit.
A large anomaly has been discovered to the west, that has a
strike length of over 1.8 km. Other targets have been identified
with significant strike potential with over the 130 km Matchless
area. We intend to commence drilling in November to test these
anomalies and are excited about the potential of the Matchless area
in a country, which in our opinion is about to have a copper
renessaince . "
The SkyTEM helicopter-borne survey was flown at 200m line
spacing, over much of the 130km strike length of the prospective
Matchless Copper Belt stratigraphy. The survey completed in May
2021, which included approximately 3,000 line km flown. The
objective of the survey was to map copper-gold massive sulphide
mineralisation from surface to approximately 200m depth or beyond.
Mineralisation typically occurs in clusters of often
steeply-dipping lenses/shoots, which may be partially covered by
surficial sands or represented at surface by small mineral
occurrences/workings or soil geochemical anomalies. Much of the
area is underexplored, with drill testing being confined to a
number of well documented occurrences, such as Hope and
Gorob-Vendome, which are exposed at surface.
Modelling of the EM data by the Company's consultant
geophysicist, identified all of the previously drilled deposits on
EPL 5796, along with at least four potential new drill targets. Two
new targets were highlighted between and to the southwest of the
established Gorob and Vendome deposits. These untested EM anomalies
are interpreted to have signals similar to those of the Gorob and
Vendome deposits and could represent new copper zones.
A third undrilled EM anomaly with similar signatures to
established deposits is located along strike to the east of the
Hope and Anomaly West deposit cluster, under sand cover.
A fourth undrilled EM anomaly identified with similar signatures
to established deposits is located in a new area in between the
Hope and Anomaly West deposit cluster in the north and the Gorob
and Vendome deposit cluster in the south.
All four undrilled EM anomalies identified will be drill tested
as soon as possible, with plans to start drilling in November being
well advanced. EPL5796 is covered by a current Environmental
Clearance Certificate and so no further environmental permits are
needed.
Hope Prospet EM Anomaly Map
http://www.rns-pdf.londonstockexchange.com/rns/2767N_1-2021-9-28.pdf
Hope Copper-Gold Project Background Information
Project Area: The Hope Copper-Gold project comprises three
exclusive prospecting licences, EPL 5796, EPL 7170 and EPL 6605,
totalling approximately 1,053km(2) , located in central Namibia
approximately 100km to the south west of Windhoek, the capital of
Namibia.
Regional Geology and Mines: The area covered by the Hope
Copper-Gold Project is characterised by superficial quaternary sand
and gravel overlying the Swakop Group of the Damara Supergroup. The
area is dominated by massive mica schists of the Kuiseb Formation
of the Pan-African Damara Orogen. These lithologies host multiple
high-grade copper-gold Besshi Type massive sulphide deposits, such
as the historically mined Otjihase Copper deposit (>16Mt @ 2.2%
Cu & 1.2g/t Au) to the northeast of the Hope property.
JORC Resource: The Hope Copper-Gold Project covers a significant
portion of the highly prospective Matchless Copper Belt. The Bezant
project area contains a series of copper deposits, of which three
(Hope, Gorob-Vendome and Anomaly) make up a combined Indicated and
Inferred Mineral Resource of 10.2Mt @ 1.9% Cu and 0.3g/t Au at a
0.7% Cu cut-off, reported in accordance with the JORC Code (2012),
containing 192kt of Cu metal and 3,190kg of Au. Approximately 30%
of the Mineral Resource tonnage is classified in the "Indicated"
Mineral Resource category with the balance in the "Inferred"
Mineral Resource category and the estimate was based on 339 drill
holes for a total of 63,855 metres.
Previous Exploration: Previous exploration on the Bezant licence
block focussed on the known prospects in the immediate vicinity of
the Hope and Gorob deposits on EPL 5796, mainly due to the fact
that they outcrop and are still open at depth. This work has led to
a sound understanding of these copper-gold prospects but has left
the vast majority of the area unexplored, especially by modern
exploration techniques. EPL 6605 and EPL 7170 contain the
Niedersachsen Cluster which includes three previously discovered
copper prospects (Niedersachsen, Aros and Kobos) within EPL 6605
and one copper prospect situated in EPL 7170 (Schlesien, situated
close to the north-eastern licence border with EPL 6605).
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
A 'Mineral Resource' is a concentration or occurrence of solid
material of economic interest in or on the Earth's crust in such
form, grade (or quality), and quantity that there are reasonable
prospects for eventual economic extraction. The location, quantity,
grade (or quality), continuity and other geological characteristics
of a Mineral Resource are known, estimated or interpreted from
specific geological evidence and knowledge, including sampling.
Mineral Resources are sub-divided, in order of increasing
geological confidence, into Inferred, Indicated and Measured
categories.
An 'Indicated Mineral Resource' is that part of a Mineral
Resource for which quantity, grade (or quality), densities, shape
and physical characteristics are estimated with sufficient
confidence to allow the application of Modifying Factors in
sufficient detail to support mine planning and evaluation of the
economic viability of the deposit.
An 'Inferred Mineral Resource' is that part of a Mineral
Resource for which 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.
"Au" Gold
"Cu" Copper
"EPL" Exclusive Prospecting Licence
"g/t" grammes a tonne
"kt" thousand tonnes
"Mt" million tonnes
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