(Alliance News) - Bezant Resources PLC on Monday said its Minemba Prospect Kalengwa copper project in Zambia has considerable copper mineralisation potential.
The London-based copper and gold explorer said assays for the project's two completed drill holes returned multiple moderate-grade copper intervals and confirmed copper distribution covering a minimum of 350 metres laterally and 100 metres vertically.
Bezant noted that assay grades peaked at 1.3% copper, which was "considerably less than indicated by initial hand-held XRF readings" conducted earlier in the year.
Shares in Bezant were down 12% at 0.15 pence in London on Monday.
"The various results for Minemba presented a composite disconnect in that it has been difficult to align the historically reported assay results, the initial Bezant XRF results and assays along with the geophysics data. As such, we have spent a significant amount of time delving into the archives to create a cohesive model," said Chair Colin Bird.
"The geophysics programme, after interpretation, shows that the Minemba prospect has considerable potential, and we will continue to test that potential."
Bezant has a 30% interest at the Minemba prospect and acts as operator for the Kalengwa exploration project.
The exploration company added that it is considering further drilling to test the geophysical target peaks of the Minemba target zone, inspired by a recent internal project report.
By Josie O'Brien; josieobrien@alliancenews.com
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Bezant Res (BZT)