Bezant Res Regulatory News (BZT)

14 September 2022

Bezant Resources Plc

("Bezant" or the "Company") 

Kanye Manganese Trench Assay Results and Drill Planning

Bezant (AIM: BZT) is pleased to provide information on trench assay results and preparations for a maiden drill programme at its' 100% owned high-grade Kanye manganese project in Botswana. 

Highlights:

· Laboratory assays from trench sampling at the Loltware manganese prospect (announced on 22/03/2022) returned in-situ chip/grab sample peak results of 41.4% MnO, 49.23% MnO and 40.83% MnO from one metre wide zones of siliceous manganese mineralisation within a continuously mineralised zone of 40m @ 11.53% MnO

· At the Moshaneng Borrow Pit, excavation of shallow clays by a local contractor for road fill has exposed further manganese-rich pods over a width of approximately 12-15m and a strike length of 250m

· Strongly anomalous soil geochemistry suggests that the mineralised zone at Moshaneng may extend for more than 2km in total

· Maiden diamond drill testing of both targets is planned - a contract has been signed with a local drilling company, with mobilisation expected later this month

Colin Bird, Executive Chairman of Bezant, commented:

"The trench results produced some very high values of manganese and provided the impetus for this drilling programme. The Moshaneng Borrow pit gives us more information as it progresses and upgrades our confidence in this project area. I look forward to keeping the market advised on drilling results as they emerge."

Loltware Trenching Results

ALS Global analytical laboratory in Johannesburg provided the assay results for in-situ trench channel samples from three trenches at the Loltware prospect.

Chip/channel samples from one metre intervals of high-grade siliceous manganese mineralisation on the floor of trench LT-TR01 returned individual sample assays of 41.4% MnO, 49.23% MnO and 40.83% MnO. These intervals occurred within a wider zone of detrital manganese mineralisation of 40m averaging 11.53% MnO, including 13m @ 16.18% MnO, including 3m @ 25.39% MnO.

Trench LT-TR03 returned 18m @ 9.20% MnO, with a peak value of 17.95% MnO over 1m. The trench was stopped in mineralisation to avoid cutting an access track.

The detrital manganese mineralisation appears to be wide and steeply-dipping, however a shallow drilling programme is required to more accurately establish the orientation, width and depth continuity of the zone.

Moshaneng Update

Excavations by a local contractor for road construction at the Borrow Pit continue to expose more siliceous manganese pods/lenses which are too hard for utilise for road fill. The main exposure is in the west-northwest of the pit, where two slightly offset pods extend for about 120-125m each along strike (250m in total) over a horizontal width of about 15-20m. Based on the geology as currently understood in this area, the sequence appears to dip fairly steeply to the north-northeast.

The manganese pods are generally massive, variably hematitic, hard (siliceous) and brittle, tending to crumble into boulders and pebbles. Many of the blocks appear hematite dominant, with variable manganese content, but there are some apparently very high-grade manganese blocks.

Drill Planning

Initial diamond drilling programmes are proposed for both Moshaneng and Loltware to follow-up the established manganese occurrences at both sites.

At Moshaneng it is proposed to test for continuity of high grade manganese mineralisation at shallow depths on drill two profiles, while at Loltware, a profile of three short angled holes is planned to test the full interval of manganese mineralisation encountered in trench LT-TR01. These holes should provide important information on the bedding orientation as well as the style, continuity and grade of manganese mineralisation below the near-surface detrital manganese recorded in the trenches.

Background on the Kanye Manganese Project (as previously announced)

Licences & location: The Kanye Manganese Project comprises a collection of nine prospecting licenses ("PLs") covering a total area of 4,043km2, located in south-central Botswana south of the town of Jwaneng and west of the town of Kanye and 150km by road from the capital Gaborone.

Geological setting: The target for manganese mineralisation is manganiferous shale horizons located on the contact between the Taupone Group and the underlying Black Reef Formation. This geological setting is similar to that of the Giyani Metals Corp manganese occurrences on their Kwgakgwe Hill (K-Hill), Otse and Lobatse projects which are located just a few kilometres off the Kanye property. The most significant of these (K-Hill) comprises a manganese-rich black shale formation within the lower Taupone Group containing an Inferred Mineral Resource of 1.7 million tonnes grading 25.7% MnO at a cut-off grade of 7.3% MnO prepared in accordance with Canadian National Instrument 43-101 (as reported by Giyani Metals Corp. in April 2021 as part of an updated PEA).

Previous exploration: Previous exploration on the Kanye property highlighted numerous manganese prospects which had not been systematically explored. These include the Moshaneng Borrow Pit where a number of grab samples assaying up to 71% MnO were reported from massive manganese mineralisation, and the Loltware Prospect, approximately 4km to the southeast of Moshaneng, where historical reports noted manganese outcrop with sample assays up to 43.6% MnO.

For further information, please contact:

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 Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).

Qualified Person:

Technical information in this announcement has been reviewed by Edward (Ed) Slowey, BSc, PGeo, technical director of Bezant Resources Plc. 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.

Glossary

The following is a summary of technical terms: