Bezant upbeat on survey results from Hope licence

(Sharecast News) - Copper-gold exploration and development company Bezant announced on Wednesday that the modelling of data and drill hole planning from the airborne electromagnetic (EM) and magnetic survey completed in May over a large part of its Hope copper-gold licence block in Namibia had highlighted four highly-prospective drill targets, ready for drill testing, planned for November.
The AIM-traded firm said modelling and drill hole planning of data from its helicopter-borne EM survey, covering about 3,000 line kilometres along a 130 kilometre strike extent of the Matchless Copper Belt on the licence, had highlighted at least four highly-prospective drill targets.

It said the survey was designed to look for buried extensions of the Hope and Gorob-Vendome deposit cluster on the licence, as well as testing the extensive underexplored potential through the adjacent licences 7170 and 6605.

Two previously-undrilled anomalies with similar signatures to established deposits were located in close proximity to the Gorob-Vendome deposit cluster, and a third undrilled anomaly, 1.8 kilometres in length with similar signatures to established deposits, was located along strike to the east of the Hope and Anomaly West deposit cluster.

A fourth target, approximately two kilometres in length, was also discovered in a new area with no record of previous exploration.

Arrangements for around 3,000 metres of diamond drilling to test the new EM targets were said to be "well-advanced", with start-up planned for November.

"The Matchless Copper Belt is a large occurrence that has had very little testing both invasive and geophysical," said executive chairman Colin Bird.

"The completed EM survey and subsequent modelling is the first attempt to identify the true potential of the copper belt.

"We received a positive result from our survey and have generated a number of targets of significance."

Bird said a cluster of targets was identified near the Hope and Gorob Vendome deposit that "bodes well" for increasing the size of the deposit.

"A large anomaly has been discovered to the west that has a strike length of over 1.8 kilometres.

"Other targets have been identified with significant strike potential within the 130 kilometre Matchless area.

"We intend to commence drilling in November to test these anomalies and are excited about the potential of the Matchless area in a country, which in our opinion is about to have a copper renaissance."

At 1048 BST, shares in Bezant Resources were down 2.66% at 0.15p.