After recently conducting an exploration review of their Buffalo project copper-gold asset, Bezant Resources (BZT) has identified the zone that will remain their structural focus as the company continues their activity in Central Zambia.
Shares in the company are up over 5% following the news.
The geological survey team uncovered visible copper oxide mineralisation at the surface of the open pit area. Such discoveries have led the team to believe that “the steeply-dipping target shear zone is open at depth.”
The asset, over which Bezant Resources holds a conditional option to acquire a 50% interest, is situated in the prospective Central Zambian iron oxide copper-gold (IOCG) belt.
Historic exploration in the IOCG has led to several copper deposit discoveries, including the Kalengwa mine (production estimate of 1.9 Mt @ 9.44% Cu, 50 g/t Ag) and the Kitumba (Mumbwa) deposit with a resource estimate of 29.8 Mt @ 2.13% Cu.
Laurence Read, CEO of Bezant, commented on the news: “Our option over 50% of Buffalo offers entry into a promising copper-gold project with access to a range of existing data sets and with exposed mineralisation from artisanal mining activity.
In addition to assessing the potential for extensions at depth and across the licence area, our key ongoing work will centre on the characteristics of Buffalo as an ore body.”
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