LONDON (Alliance News) - Bezant Resources PLC on Wednesday said it commissioned a new mining study to examine mining options in relation to distinct high-grade areas within the Mankayan copper-gold project, located on the island of Luzon, Philippines.
The copper-gold exploration and development company said it appointed mining technical services provider Mining Plus Pty Ltd to undertake a mining study on the Mankayan project.
The new study will look to examine the viability of new, scalable mining options. One of the objectives of the study is to determine economically viable alternative mining processes, Bezant said.
This study will comprise a high-level desktop review, which will not require additional drilling. It will include geological block model analysis, which will help to determine target areas where higher-grades of copper and gold may exist.
The company expects to complete the mining study in the first quarter of 2019.
"I am pleased that we shall be progressing the Mankayan copper gold project following the results of extensive in-house geological and engineering work over the course of the last year," said Chief Executive Laurence Read.
"Mankayan is a significant potential source of long-term copper gold-supply and the results of the new mining study may allow Bezant to pursue new avenues for the project if production scenarios, with reduced upfront capital expenditure, can be determined," added Read.
Bezant shares were trading flat on Wednesday at 0.21 pence each.
Bezant Res (BZT)