Bezant Resources (AIM: BZT ) said initial results for its drilling programme at the Hope/Gorob Copper-Gold project has shown well-developed copper mineralisation at the first two holes. 

The company said both holes intersected the copper zone with a 6m zone of indicated copper mineralisation logged in hole GOD002 from 172m to 178m depth, as pictured below. 

Results showed Hole GOD002 to intersect strongly developed copper mineralisation from 172m to 178m depth, with weaker disseminated sulphides above this zone. 

High grade copper mineralisation in hole GOD002

(Source:Bezant Resources) 

Core logging in GOD001 showed that the hole passed through the mineralised schist horizon from 127m to 148.42m depth, with strong copper sulphides occurring from 137m to 140m.  

Chalcopyrite copper mineralisation in hole GOD001 

(Source:Bezant Resources) 

The drilling of the two holes which are located in the Gorob-Vendome prospect, pictured below, was aimed at confirming reported copper intervals in the previously delineated mineral resource, as well as to provide core samples for gold testing and copper verification. 

Mapping copper mineralised outcrop at the Gorob prospect 

A person standing on a rocky hill

Description automatically generated 

(Source:Bezant Resources) 

Drill core samples will be sent for assay to evaluate copper, gold and other associated minerals while the drill rig will now test an anomaly to the north of the main Hope deposit. 

The company said the results from this analysis can then be utilised in a future resource update for the Gorob deposit, with the potential to enhance the current resource. 

Meanwhile, a renewal of Exclusive Prospecting Licence ("EPL") 5796 owned by the group's 70% subsidiary Hope and Gorob Mining Pty Ltd which covers the Hope and Gorob prospects has been confirmed by the Namibian authorities for a two-year period to 19 October 2022. 

"This is a promising start to our exploration and drilling programme at the Hope/Gorob Copper-Gold project,” commented Colin Bird, Executive Chairman of Bezant Resources. 

He added, “The physical inspection of the newly drilled core at the Gorob prospect indicates well-developed copper mineralisation at the anticipated depths to be confirmed by assay.” 

Bird said BZT is also continuing with the programme to test other targets near the Hope deposit and said it will shortly be updating our website with photographs from the site.  

He added that copper prices continue to increase, with reports on scarcity on new projects and increasing demand due to the electric vehicle (EV) global acceleration production. 

Shares in Bezant Resources have increased by over 200% since the beginning of September 2020 to open 0.19% lower this morning at 0.26p following the announcement. 

Insert SP chart. 

Reasons to Follow Bezant Resources 

Bezant is focused on building ‘significant value’ in projects from highly cost-effective work programmes. Following its work in delineating mineable reserves at our Mankayan project in the Philippines, it is now focused on gold-copper exploration and development activities. 

BZT has repositioned its portfolio as copper demand continues to surge. In 2020, it has ramped up its copper projects by acquiring Kalengwa in Zambia and the Hope project in Namibia.  

As a result, the Company is now ‘well positioned’ in the gold-copper space just as Copper prices jump well above pre-COVID-19 levels, with the commodity seeing its highest quarterly increase since mid-2009 as a result of resurgent sales in China with demand for copper forecast to double by 2030. 

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