Undervalued (even without Mankayan project sale).5 Sep 2020 23:13
A few highlights from recent RNSs:
Colin Bird, Executive Chairman of Bezant, commented:
"The acquisition of the Hope Gold Cooper project is a significant milestone for Bezant. We have acquired a very attractive project with a combined JORC (2012) Mineral Resource of 10.2Mt @1.9% Cu and 0.3g/t Au at a 0.7% Cu cut off in Namibia, which aside from being an excellent jurisdiction, is attracting increased attention as a source of Copper.
The Vendors confidence in the project is reflected in the fact that 84% of the shares now being issued have been issued at a 60% premium to Fridays closing share price of 0.12 pence.
From Bezant's technical due diligence on the project it was clear that there is potential for considerable upside as the Gorob-Vendone Deposit was not assayed for gold and there is the possibility for further discovery of similar type mineralisation as the project contains 150 km not yet tested. Now that the transaction has been completed Bezant will be looking to implement the value creation strategy announced on 15 July 2020."
Mineral Resource: Hope Copper-Gold Project
The Hope Copper-Gold Project (EPL5796) and adjacent tenures (EPL6605 and EPL7170) cover over 1,200 km2 of the highly prospective Matchless Copper Belt, hosts multiple high-grade copper-gold VMS-style sulphide deposits, such as historically mined Otjihase Copper Mine (>16Mt @ 2.2% Cu & 1.2g/t Au). The project area contains a combined Mineral Resource of 10.2Mt @ 1.9% Cu and 0.3g/t Au at a 0.7% Cu cut-off, reported in accordance with the JORC Code (2012). Approximately 30% of the mineral resource in the 'Indicated' Mineral Resource category and the balance in the 'Inferred' Mineral Resource category. Also, due to the fact that many of the historic drill holes were not assayed for gold, the overall gold grade in the current mineral resources (0.3g/t Au) is interpreted to be a significant underestimate.
The first part of the strategy is to concentrate on increasing the size and confidence of the current, high-grade mineral resources on the Hope Copper-Gold Project;
especially understanding the unrealised gold grade potential within the current mineral resource due to many historic drill holes not being assayed for gold, as well as extending the known mineralisation along plunge. This will involve resampling of historic drill core, twinning historic drill holes and completing new drilling along plunge of the thickest and highest-grade mineralisation found to date. These results will then be applied to generate an improved mineral resource estimate that will underpin a scoping study into the viability of a mining operation on the Hope Copper-Gold Project.
The second part of the strategy is to complete modern, regional exploration (electromagnetic surveys and then drill testing) on this project,
as well as the adjacent tenures along the Matchless Copper Belt. Due to the significant extent of outcropping mineralisation already found and th
Sign In
Follow the stocks
