Bezant Resources sees ‘exciting indications’ of high-grade manganese at Kanye project
(BZT ) unveiled that recently completed reconnaissance mapping, prospecting and sampling work at its 100% owned high-grade Kanye manganese project in Botswana has indicated the potential of the project’s high-grade manganese deposits.
The copper-gold exploration and development firm said that up to four historic manganese occurrences were successfully located and sampled in the field within an 8km-belt.
Bezant explained that while previous exploration on the Kanye property has highlighted ‘numerous manganese prospects’ none of them have been systematically explored.
From the reconnaissance prospecting and sampling work undertaken, 40 grab samples were obtained which assayed from traces up to high-grade results of 67.18% manganese oxide (MnO) occurring at the Moshaneng borrow pit and 68.01% MnO at the Mheelo prospect.
The Mheelo prospect is located 6km from the Giyani Metals K-Hill manganese project where a feasibility study is due for completion in 3Q21 (April 2021 PEA indicates an 80% IRR).
Bezant said it plans to follow-up the main targets with clearance/trenching by mechanical excavator to facilitate detailed mapping, prospecting and more systematic sampling. It said the confirmed targets will be drill tested to define lateral and depth extent of deposits.
Commenting on the results, Colin Bird, Executive Chairman said, "The reconnaissance prospecting and sampling work has given exciting indications of potential for high-grade manganese deposits suitable for upgrading to high-purity for battery manufacture,
The extent of the area containing manganese mineralisation at the Moshaneng Borrow Pit has been expanded considerably as a result of our work, reinforcing our original thoughts regarding the potential in that area. We now intend to carry out a programme of pitting and trenching to lead us towards the best targets and help optimise a drilling programme.”
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To follow up the success of its site visits in relocating the historically recorded high-grade manganese occurrences, Bezant said it plans to return to the sites ‘with a mechanical excavator to clear and trench the targets in order to facilitate detailed geological mapping, prospecting and more systematic sampling, with the aim of identifying shallow drill targets.’
Shares in Bezant Resources have increased by 9.5% in value since the beginning of April 2021. The stock was trading 2.17% higher this morning at 0.235p following the update.
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 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.
In January 2021, BZT said that samples taken from the Hope Copper-Gold Project in Namibia confirmed the group’s assertion that gold should be present at the Gorob-Vendome deposit.
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.
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