Bezant Resources PLC Update on Kanye Manganese Project, Botswana (0576A)

TIDMBZT

RNS Number : 0576A

Bezant Resources PLC

31 January 2022

31 Jan 2022

Bezant Resources Plc

("Bezant" or the "Company")

Update on Kanye Manganese Project, Botswana

Bezant (AIM: BZT) is pleased to provide information on recent work completed and further programme planning at its' 100% owned high-grade Kanye manganese project in Botswana.

Highlights:

-- Recently completed geological mapping indicates that the target horizon hosting high-grade manganese may extend continuously for at least 4km between the Loltware and Moshaneng prospects

-- The mineralised horizon lies at the same stratigraphic level as the Giyani Metals' K-Hill project located just to the south-east from Bezant's licence

-- A follow-up programme of soil sampling and trenching is planned to commence in the coming week to test the continuity of the manganese target

-- A preliminary plan has been prepared for drill testing in the vicinity of the Moshaneng Borrow Pit, to be finalised based on results of the soil/trenching programme

Colin Bird, Executive Chairman of Bezant, commented :

"The new mapping and prospecting programme at Kanye has for the first time highlighted the potential continuity of the target zone for high-grade manganese over a minimum of 4km between the Moshaneng and Loltware prospects. Along with the discovery of extensions to the mineralised zone in the Moshaneng Borrow Pit, this represents a very promising target for Bezant within the same geological horizon as Giyani Metals K-Hill project. We are now moving forward to a new phase of sampling and trenching to confirm continuity of the zone, with follow-up drill planning in preparation."

Work Completed

Following on from field work referred to in the announcement of 24 June 2021, further site mapping and assessment visits were undertaken in late 2021 to the main previously identified sites with reported high grade manganese occurrences on prospecting licence 129 northwest of Kanye town. Of particular interest was the provisional identification of geological continuity between the prospects at the Moshaneng Borrow Pit and Loltware, over a strike length of about 4km. Bedrock exposure is limited in this area, but manganese occurrences appear to occupy in the same stratigraphic horizon that hosts the Giyani Metals K-Hill manganese deposit to the south-east.

At the Moshaneng Borrow Pit, recent excavation by contractors for road material has uncovered additional exposures of manganese-bearing bedrock further to the northwest, with intermittent outcrop now extending over 300m, and not yet closed off in this direction.

Plan showing layout of Moshaneng Borrow Pit and manganese mineralisation

http://www.rns-pdf.londonstockexchange.com/rns/0576A_1-2022-1-30.pdf

Manganese mineralisation exposed in the Moshaneng Borrow Pit

http://www.rns-pdf.londonstockexchange.com/rns/0576A_2-2022-1-30.pdf

Work Planned

The Company is now preparing a follow-up exploration programme which is due to commence within the next week to test the continuity of the manganese zone between Loltware and Moshaneng. The programme will comprise primarily collection and testing of over 1,000 soil samples and excavation of at least three trenches to test below the shallow overburden covering layer. Soil analysis will be carried out on sieved material by hand-held XRF. In addition a provisional plan for drill testing the prospective unit in the vicinity of the Moshaneng Borrow Pit has been drawn up and this will be finalised once results of the soil/trenching programme have been received.

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:

 
 
 "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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