George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBezant Res Regulatory News (BZT)

Share Price Information for Bezant Res (BZT)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.023
Bid: 0.022
Ask: 0.024
Change: 0.00 (0.00%)
Spread: 0.002 (9.091%)
Open: 0.023
High: 0.023
Low: 0.023
Prev. Close: 0.023
BZT Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Minemba Prospect Kalengwa Copper Project, Zambia

12 Apr 2021 14:22

RNS Number : 1847V
Bezant Resources PLC
12 April 2021
 

12 April 2021

Bezant Resources Plc

("Bezant" or the "Company")

Minemba Prospect Kalengwa Copper Project, Zambia

 

 

Bezant (AIM: BZT), the copper-gold exploration and development company, is pleased to announce a significant copper intercept in its first drill hole at the Minemba prospect within the Kalengwa exploration project area in Zambia (the "Kalengwa Exploration Project") in which the Company has a 30% interest and acts as operator.

 

Highlights

· Bezant's first hole on the Minemba prospect, MB-01, stepped back to drill at an angle beneath the earlier intercepts, encountered visible chalcopyrite copper mineralisation over a substantially greater interval than the historic holes starting at 81m depth, with semi-continuous mineralisation logged over a 94-metre interval from 101m to 195m.

· Preliminary hand-held XRF measurements (to be confirmed with geochemical assays taken from half-core samples) returned copper grades over the following down-hole intervals:

o 94m @ 0.79% Cu from 101-195m 

o including 13m @ 1.17% Cu from 118-131m

o and 10m @ 2.14% Cu from 147-157m

o and 15m @ 1.32% Cu from 163-178m

· Limited historic drilling in the late-1960s at Minemba, just 4km from the former Kalengwa mine, intersected narrow zones of copper mineralisation up to 4.3m wide within a gabbro intrusive.

· Interpretation by Bezant concluded that the target was positioned on a structural 'mirror image' of the Kalengwa mine setting and that mineralisation was potentially open down-plunge and along strike

· Chalcopyrite occurs as disseminations and replacements in both the altered/brecciated gabbro intrusive and the adjoining conglomerate sedimentary unit (the main ore host unit at the Kalengwa mine)

· The scale of the new intercept significantly extends the potential target size and the discovery of mineralised conglomerate, in addition to the gabbro-hosted mineralisation, provides a clear analogy with the Kalengwa deposit

· The drill rig will now move to commence the planned second hole at Minemba

· In addition, limited drill testing at the Kalengwa SW2 target about 2km to the southwest of the Kalengwa open pit does not appear to warrant further work for now.

 

 

Colin Bird, Executive Chairman of Bezant, commented:

"The Minemba prospect is one of the identified intrusive-related targets which were ready for drill testing. Historic work identified some evidence of mineralisation but our targeted hole intersected lengthy apparently significant mineralisation. The mineralisation host type is somewhat similar to the Kalengwa main mine and as such gives us encouragement as to potential. The main mine yielded 2 million tonnes of ore at an average of 9.44% Cu representing one of the richest copper deposits discovered in Zambia. 

 

We will drill another hole in the perceived direction of strike and if successful will continue with ground geophysics to truly identify the strike and extent of this intrusion and associated mineral system."

 

 

Minemba Target

The Minemba target was first identified by Roan Consolidated Mines ('RCM'), the operator of the Kalengwa open pit copper-silver mine in the 1960s, based on a copper geochemical anomaly found by auger drilling 4km to the northeast of Kalengwa, associated with a discrete magnetic anomaly believe to be related to gabbro intrusive rocks. Five diamond drill holes spaced 100-200m apart and angled towards the north were completed at that time. Four of these intersected steeply-dipping chalcopyrite-pyrite mineralisation over narrow intervals at depths ranging from 80-200m below surface within the gabbro - in contrast to the sedimentary host rocks at Kalengwa. Drill intercepts included 4.3m @ 1.43% Cu (hole MN 496) and 2.7m @ 2.08% Cu (MN 495). Despite the proximity to the high grade Kalengwa mine, no further diamond drilling was subsequently carried out. Mineralisation based on the RCM holes covers a strike extent of 300m and is open along strike to the northeast as well as down-plunge, with an average thickness of 2.5m, apparently widening at depth.

Bezant reviewed the extensive dataset from previous exploration over the Kalengwa exploration licence and concluded that Minemba was located on a structural mirror image of the Kalengwa deposit setting, aligned directly with the offset continuation of the NE-trending Kalengwa Lineament and therefore the target was prioritised for further drill testing.

 

Bezant Drilling

The aim of Bezant's drill programme was to test the down-plunge and along-strike extent of the earlier drill intercepts at Minemba within the gabbro intrusive (potential mineral feeder zone) while also looking to test the boundaries of this unit with the Kalengwa Mine sedimentary package (potential host unit). Two holes were planned in this initial reconnaissance programme.

 

Hole MB-01 was drilled at -50o towards the northwest, stepping out 50m southeast from historic hole MN 496, and was completed at a depth of 211.3m. The summary log is as follows:

0 - 25m Overburden,

25 - 78m Partly weathered massive and brecciated gabbro

78 - 127m Silicified gabbro, brecciated, with carbonate veining; iron occurs as magnetite & hematite; chalcopyrite appears as disseminations and blebs, associated with pyrite from 81m, becoming more prominent from 101m

127 - 172m Conglomerate unit with disseminated chalcopyrite and pyrite

172 - 186m Massive gabbro, with chalcopyrite/pyrite as disseminations and in carbonate veins

186 - 198m Pebbly conglomerate, with disseminated chalcopyrite and pyrite

198 - 211.3m Shale/siltstone - chlorite alteration & carbonate stockwork veining. Minor chalcopyrite and pyrite, fading out at depth

End of hole

 

While the shape, orientation and scale of the mineral deposit at Minemba remains to be fully established, the length of the mineralised intercept from 101m - 195m is clearly an order of magnitude greater than found by previous drilling, and the discovery of mineralised conglomerate adjacent to the altered and mineralised gabbro significantly extends the potential target size as well as providing a direct analogy with the Kalengwa deposit itself.

Core is being fully logged and will be split for laboratory assay.

The drill rig will now move to complete the second of the two planned holes, 100m along strike to the northeast of MN496.

 

In addition to Minemba, the Company also carried out limited drill testing at the Kalengwa SW2 target about 2km to the southwest of the Kalengwa open pit. Drilling totalled 530.2m in a profile of five short holes to test a geochemical anomaly in the vicinity of an interpreted gabbro intrusive. The holes intersected a mixed zone of banded sediments and gabbro. Minor vein-associated chalcopyrite mineralisation was seen in the intrusive, peaking at 0.35% Cu over 1m in hole KSW-04 based on hand-held XRF analysis, however this does not appear to warrant further work for now.

 

Technical Sign-Off

Technical information in this announcement has been reviewed by Edward (Ed) Slowey, BSc, PGeo, technical director of Bezant. Mr Slowey is a graduate geologist with more than 40 years' relevant experience in mineral exploration and mining, a founder member of the Institute of Geologists of Ireland and is a Qualified Person under the AIM rules. Mr Slowey has reviewed and approved this announcement.

 

 

For further information, please contact:

 

Bezant Resources PlcColin Bird

Executive Chairman

 

+27 726 118 724

 

Beaumont Cornish (Nominated Adviser) Roland Cornish

 

+44 (0) 20 7628 3396

Novum Securities Limited (Broker)

Jon Belliss

 

+44 (0) 20 7399 9400

 

or visit http://www.bezantresources.com 

 

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.

 

 

 

Glossary

"brecciated"

Rock fragmented into angular components

"chalcopyrite"

A copper-iron sulphide mineral, CuFeS2, often found in copper ores

"conglomerate"

Sedimentary rock formed by the cementing together of water-rounded pebbles

"Cu"

Chemical symbol for copper

"gabbro"

A coarse grained mafic intrusive rock composed of pyroxene and plagioclase, similar in composition to dolerite

"hematite"

A mineral composed of ferric iron oxide.

"magnetite"

A magnetic iron oxide, Fe3O4

"pyrite"

Iron sulphide mineral, FeS2

"silicified"

Descriptive of a rock in which original minerals have been replaced by silica.

"XRF Spectrometer"

Instrument to determine the chemistry of a sample by measuring the fluorescent (or secondary) X-ray emitted from a sample when it is excited by a primary X-ray source

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCGPURGCUPGGWP
Date   Source Headline
15th Mar 20247:00 amRNSGrant of Options - Directors/PDMRs Shareholdings
14th Mar 20247:00 amRNSUpdate on Hope & Gorob Copper – Gold Project
5th Mar 20247:00 amRNSFunding Facility Repayment Extension
9th Feb 20247:00 amRNSHope & Gorob Copper – Gold Project, Namibia Update
29th Dec 202311:16 amRNSTotal Voting Rights
19th Dec 20239:18 amRNSHolding(s) in Company
4th Dec 20237:00 amRNSPlacing, Issue of Shares, PDMR Shareholdings &TVR
17th Nov 20232:22 pmRNSHolding(s) in Company
10th Nov 20237:00 amRNSIssue of Shares and TVR
27th Oct 20237:00 amRNSHope & Gorob Updated Mineral Resource Estimate
29th Sep 20237:00 amRNSHalf-year Report
6th Sep 20237:00 amRNSUpdate on Projects
28th Jul 20231:17 pmRNSResult of AGM
24th Jul 20232:49 pmRNSKanye Project: Metallurgical Test Work Results
4th Jul 202310:00 amRNSNotice of AGM and 2022 Accounts
30th Jun 20237:00 amRNSFinal Results
15th Jun 20237:00 amRNSFunding Facility Extension, Issue of Shares, TVR
31st May 20232:41 pmRNSTotal Voting Rights
5th May 202311:33 amRNSIssue of Shares and TVR
4th May 20231:07 pmRNSTotal Voting Rights
12th Apr 20237:00 amRNSFund raise, Director fees, joint Broker and TVR
27th Mar 202311:53 amRNSMankayan Project Update
1st Mar 20232:49 pmRNSMankayan Project Update
9th Feb 20232:58 pmRNSMaiden Kanye Drill Programme, update Hope & Gorob
9th Jan 20237:00 amRNSIssue of Equity and TVR
15th Nov 20224:35 pmRNSPrice Monitoring Extension
26th Oct 202212:21 pmRNSMankayan Project Update
18th Oct 20221:56 pmRNSTermination by mutual consent of Cyprus JV
3rd Oct 20223:34 pmRNSStatement re Cyprus Joint Venture with Caerus
30th Sep 20227:00 amRNSInterim Results for Six Months Ended 30 June 2022
14th Sep 20227:00 amRNSUpdate on Kanye Manganese Project in Botswana
31st Aug 202212:01 pmRNSTotal Voting Rights
24th Aug 20227:00 amRNSResult of AGM
11th Aug 20223:37 pmRNSExercise of Warrants, Total Voting Rights
9th Aug 20227:00 amRNSHope and Gorob Project Update
29th Jul 20222:24 pmRNSTotal Voting Rights
29th Jul 202211:00 amRNSNotice of AGM
7th Jul 20221:58 pmRNSExercise of Warrants, Total Voting Rights
30th Jun 20226:09 pmRNSFinal Results and Publication of Annual Report
30th Jun 202211:21 amRNS£700,000 Drawdown under Funding Facility
14th Jun 20227:00 amRNSHope and Gorob Project Shallow Drilling Update
8th Jun 20227:00 amRNSCyprus Joint Venture Drilling Update
30th May 20224:27 pmRNSDirector's Dealing
30th May 202212:34 pmRNSDirector's Dealing
12th May 20223:02 pmRNSExercise of Warrants, Total Voting Rights
3rd May 20227:00 amRNSCyprus Joint Venture Drilling Update
27th Apr 20227:00 amRNSCyprus Joint Venture Update
7th Apr 20229:00 amRNSPrice Monitoring Extension
6th Apr 20227:00 amRNSMaiden Troulli Mineral Resource Estimate
6th Apr 20227:00 amRNSCyprus Joint Venture Update

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.