Bezant Resources (BZT ) said the results of an initial mineral resource estimate of the Troulli copper-gold project reflect “a very encouraging start” at the site, offering a good foundation for the expansion of the Mineral Resource as it starts to include extensions to the mineralization.
The Troulli Cu-Au project in Cyprus forms part of a joint venture between Bezant and the exploration and resource development company, Caerus Mineral Resources, which is focused on the Troulli Mine Development Project as well as other copper-gold JV targets in Cyprus.
Independent indicated and inferred mineral resources estimates for Troulli which were reported in accordance with JORC Code (2012) prepared by Addison Mining Services consisted of 72 diamond and open hole percussion drillholes, totalling 3,393.30 metres.
In addition, 208 trench channels were drilled for 692.17 metres. At a selected cut-off grade of 0.5% of copper (Cu), a hard rock resource estimate of around 2.7 million tonnes at a copper equivalent grade of 0.74% CuEq (0.51% Cu and 0.26 g/t Au) has now been established.
So has a hard rock resource estimate of c.9 million tonnes at 0.41% Cu and 0.2 g/t Au for 20,000 t of Cu metal and 31,000 ounces of Au, from a cut-off grade of 0.26% Cu equivalent.
Possible extensions to the current mineral resource identified are to be drilled out with the focused targeting of copper - gold gossans that have been already drill-tested; the companies say they have “a high degree of confidence” in their ability to define further resources.
Colin Bird, Executive Chairman of Bezant Resources said: “This is a very encouraging start and provides a good foundation for the expansion of the Mineral Resource as we start to include extensions to the mineralization and the area between Troulli and Kokkinapetra.”
Going forward, both Bezant Resources Caerus Mineral Resources remain focused on upgrading and expanding the mineral resource, completing metallurgical test work, environmental baseline studies and the Environmental and Social Impact Assessment, continuing the development of a mine plan and submitting a Mining Licence application.
This will include continued resource development and the further expansion of the larger Troulli deposit and the drilling of high-grade mineralisation at the Anglisides satellite Project.
Work will also be undertaken to evaluate the Kokkinopetra Project, located 1.5km from Troulli and within an acceptable haul distance for any payable mineralisation that may be defined.
In parallel with the expansion of the resource, Caerus plans, with guidance from the external consultant, AMS, to complete infill drilling to upgrade the recently unveiled mineral resource.
Martyn Churchouse, Caerus’ CEO said: “This is a significant step along the road to becoming a producer with the future development of Troulli potentially being our first revenue event.”
He added: “With Bezant now committing to mine design, we are able to move to the next stage in the metallurgical test work and plant configuration process. Once we have guidance on likely annual plant capacity we will be able to marry resource tonnes to throughput and start the process of optimisation and providing detail of targeted metal production.”
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