Bezant Resources PLC Regulatory News (BZT)

23 Aug 2007 07:45

Bezant Resources PLC23 August 2007 Bezant Resources Plc ("Bezant") Drilling programme on the Mankayan project in the Philippines to commence in September 2007 Highlights: • 11,000 metres of diamond drilling over 10 holes using two rigs• Drilling to commence in September 2007• First assay results expected at the end of Q4 2007• Previous historic drilling revealed a substantial resource estimate of 1.9bn pounds of contained copper and 2.9m ounces of gold Bezant (AIM: BZT), the AIM listed exploration and development company with gold and copper assets in Tanzania and the Philippines, is pleased to announce that its Filipino partner on the Mankayan project, Crescent Mining and Development Corporation ("Crescent"), has signed a drilling contract with Primo Asia Mining and Drilling Inc, one of the leading Filipino drilling companies. A minimum of 11,000 metres of diamond drilling over 10 holes will commence in September 2007, the first assay results of which are expected in the fourth quarter of 2007. The purpose of the drilling programme is to further define the copper/gold asset already known to be present in the licence area. More than 45,000 metres have been drilled historically and past analysis of 33,000 metres of core revealed a substantial resource estimate of 1.9 billion pounds of contained copper and 2.9 million ounces of gold. Clive Sinclair-Poulton, Chief Executive commented:"We are fortunate to already have a wealth of information from the historic 45,000 metres of drilling. This next phase will allow us to further define the quality of the asset. We are very positive of this next stage of our operations in the Philippines". Notes for editors: Crescent Mining and Development Corporation is the holder of an MPSA exploration licence in the Guinaoang area, 240 kilometres north of Manila in the Philippines. The licence covers a total of 534 hectares and is 60 per cent. owned by Crescent and 40 per cent. by Asean Copper Investments Limited, a 100 per cent. owned subsidiary of Bezant. All foreign owned companies, under Filipino law, must have a Filipino partner until they move up to a mining licence from the MPSA, or exploration licence, when they can then hold 100 per cent. of the asset. Bezant (www.bezantresources.com) is focused on the discovery and exploitation of gold and copper projects and assets in Tanzania and the Philippines. For further information, please contact: Clive Sinclair-Poulton, Chief ExecutiveBezant Resources Plc Tel: +353 (0) 85 739 2674Email: clive@bezantresources.com James HarrisMatthew ChandlerStrand Partners Limited Tel: +44 (0) 20 7409 3494 Gary MiddletonSt Swithins PR Limited Tel: +44 (0) 20 7929 4391Email: gary@swithins.com This information is provided by RNS The company news service from the London Stock Exchange