Bezant Resources confirms gold at Hope Copper-Gold Project

Francesca Morgan
Vox Newswire
08:57, 14th January 2021

Bezant Resources (BZT FOLLOW) has confirmed samples taken from the Hope Copper-Gold Project in Namibia confirm the group’s assertion that gold should be present at the Gorob-Vendome deposit.

The Gorob-Vendome holes were planned by the company to increase confidence in the geology and mineral intercepts reported in the historic drilling reports and specifically to provide information on the gold grades associated with the copper-bearing massive sulphides.

The copper-gold exploration and development company said this morning that the assaying of samples from the two diamond drill holes at the Gorob-Vendome massive sulphide deposit has indicated continuity of copper-gold mineralisation within the Inferred Mineral Resource envelope.

Two diamond drill holes designed to test a Natural Source Audio Magneto-Telluric (NSAMT) anomaly at Hope North intersected cavities and did not intersect any base metal mineralisation, confirming BZT’s suspicion that the source is most likely to be saline water.

It outlined that the best results from downhole assay intervals had included 3.57m at an average 4.36% copper, 0.64g/t gold in hole GOD-001 and 3.0m at an average 2.18% copper, 0.26% gold in hole GOD-002 within a wider zone of copper-gold mineralisation.

Bezant said the accompanying gold values in the Bezant holes support management’s belief that the gold content could be higher than previously reported in the Gorob-Vendome Inferred Mineral Resource estimate and therefore could add considerable value to the project.

The new results will now be included in BZT’s internal valuation studies and into future revised resource estimates. Previously, very limited gold assaying was carried out in the holes.

It said that most of the drill holes at the Gorob-Vendome deposit are from older programmes and were not assayed for gold. As demonstrated by the recent Bezant drilling, ‘the lack of gold assay information within the copper zone has almost certainly resulted in the gold grade of that portion of the Mineral Resource being significantly underestimated.’

"The result of this initial programme achieved the objective of confirming our assertion that gold should be present at the Gorob-Vendome deposit since it is present at the Hope project. 

Both copper and gold values were pleasing, and we will obviously internally rework the valuation of Gorob based on the new results,” said Colin Bird, Executive Chairman of BZT.

Bezant said it is now planning for an exploration along the 130km strike extent of the Hope/Matchless Copper Belt, including airborne geophysical surveying to see through the overburden cover which has hidden much of the Belt from previous explorers.

Bird said, “This result has provided us with increased motivation to test the 130km of strike under license and this will be carried out by a heli-airborne survey during this first quarter.

We are currently planning our initial reconnaissance holes for the manganese project in southern Botswana. Again, we are intending to start drilling in the first quarter."

Shares in Bezant Resources have more than doubled in value since the beginning of September 2020. Investors will be reassured following today’s announcement as Gold is an important accompanying mineral to the copper deposits of the Matchless Belt, which could also add value to many of the prospects along the Belt, including Gorob-Vendome.

BZT price chart

Reasons to Follow BZT

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.

For more news and updates on Bezant Resources: FOLLOW

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