TIDMBZT
RNS Number : 4945P
Bezant Resources PLC
09 February 2023
09 February 2023
Bezant Resources Plc
("Bezant" or the "Company")
Maiden Drill Programme Results on Kanye Mn Project
& Hope and Gorob Update
Bezant (AIM: BZT) is pleased to provide information on the
maiden drill programme at its' 100% owned Kanye manganese
exploration project in Botswana and an update on the Hope and Gorob
project in Namibia.
Highlights:
-- Maiden Kanye drilling programme - 11 mainly shallow, angled
RC holes totalling 682m at Moshaneng prospect as well as one short
diamond drill hole at Loltware prospect.
-- Moshaneng drilling intersected a zone of flat-lying detrital,
supergene manganese-iron mineralisation which appears to infill an
irregular karst surface over a minimum strike length of 400m.
-- Among assay intervals encountered were:
o 6m @ 28.64% MnO from 6m depth in hole MS-RC-12
o Including 4m @ 35.38% MnO from 8m depth
o 3m @ 21.85% MnO from 4m depth in hole MS-RC-06
o 3m @ 21.20% MnO from 2m depth in hole MS-RC-07
-- Potential for at least another 100m of strike extension to
the southeast of holes MS-RC-07 and MS-RC-012 would extend the
total strike length to a minimum of 500m
-- Less than 25% of the more than 2km potential extent of the
target defined by soil geochemistry has been drill tested
-- Grades compare favourably with reported grades on
neighbouring more advanced manganese projects and therefore the
Kanye project warrants detailed evaluation and drilling with a view
to establishing the mineral resource potential
-- Drilling at Loltware encountered encouraging manganese
enhancement in core, warranting further investigation.
Colin Bird, Executive Chairman of Bezant, commented :
" We are very pleased with these Kanye drill results
particularly as we have several other targets still to pursue. In
the meantime, we will submit samples from the recent drilling for
metallurgical test work and are optimistic we will achieve battery
grade quality material. In addition, we will drill test the other
identified targets along the delineated strike extension with the
aim of moving towards potential resource definition . "
Kanye Drilling Programme
Drilling was focussed on the Moshaneng Borrow Pit where high
grade manganese boulders were exposed by shallow excavations for
road fill material within a zone oriented
east.southeast-west.northwest. The maiden drill programme was aimed
at establishing the strike continuity, depth extent and grades of
the mineralised zone.
It was originally planned to undertake diamond core drilling,
but it quickly became apparent that the detrital manganese
mineralisation encountered could not be efficiently cored, so the
programme was switched to reverse circulation ('RC') drilling in
order to recover most of the manganese-rich material.
In total 11 mostly angled holes were drilled at Moshaneng for a
total of 682m, including two initial stratigraphic holes, followed
by a series of shallow holes on four profiles. Available drill
sites in the Borrow Pit were restricted by the pit workings and the
space required to set up the large RC drill rig. Nevertheless, the
mineralised zone was successfully tested in several of the holes
spanning a minimum strike length of 400m. Based on initial pXRF
checking, samples were chosen for assay at the ALS Global
analytical laboratory in Johannesburg - selected assay intervals
are shown in Table 1 below:
Table 1 - Selected Assay Intervals from
Moshaneng RC Drilling Programme
Hole No Depth Depth Interval MnO%
from (m) to (m) (m)
---------- -------- --------- ------
MS-RC-12 6 12 6 28.64
---------- -------- --------- ------
Incl. 8 12 4 35.38
---------- -------- --------- ------
MS-RC-03 12 15 3 9.47
---------- -------- --------- ------
MS-RC-06 4 7 3 21.85
---------- -------- --------- ------
MS-RC-07 2 5 3 21.20
---------- -------- --------- ------
Based on the drilling results and mapping of recent excavations
towards the southeast end of the Borrow Pit, it appears that the
manganese-hematite zone occurs as a shallow, flat-lying detrital
deposit, probably with supergene enhancement, infilling an
irregular karst dissolution layer towards the base of the Taupone
Dolomite unit just above its contact with the underlying Black Reef
Quartzite. The tenor of the grades encountered in drilling to date
at Moshaneng are broadly in line with the grades reported from the
nearby Giyani Metals K-Hill deposit, where an Inferred Mineral
Resource of 1.7 million tonnes grading 25.7% MnO at a cut-off grade
of 7.3% was reported in April 2021.
The mineralised zone was seen to extend in the Moshaneng pit by
at least a further 100m (500m minimum strike length in total). A
series of channel and chip samples were collected by the Company
for assay in the southeast pit extension before it was backfilled
by the road contractors. These returned values up to 62.65% MnO -
see Table 2 below:
Table 2 - Moshaneng Borrow Pit SE
Extension Grab/Channel Sampling Programme
Sample No MnO% Sample Location
Type
-------- ---------- ------------
PEX S1 62.65 Channel Pit wall
-------- ---------- ------------
PEX S2 5.07 Channel Pit wall
-------- ---------- ------------
PEX S3 6.29 Channel Pit wall
-------- ---------- ------------
PEX S4 42.41 Channel Pit wall
-------- ---------- ------------
PEX S5 59.24 Channel Pit wall
-------- ---------- ------------
PEX S6 7.79 Channel Pit wall
-------- ---------- ------------
PEX S7 4.45 Grab -
-------- ---------- ------------
PEX S8 8.62 Grab -
-------- ---------- ------------
PEX S9 4.65 Grab -
-------- ---------- ------------
PEX S10 50.30 Floor Pit floor
-------- ---------- ------------
The area partly drill tested and sampled to date at Moshaneng
represents about a 500m length of a zone which is interpreted from
mapping and soil sampling to extend for at least 2km and is further
open to the west-northwest.
At the Loltware prospect, 4km east-southeast from Moshaneng, a
single shallow angled diamond drill hole completed at 40m depth in
the vicinity of earlier trenching encountered moderate manganese
enhancement in a clay zone above the footwall quartzite, with an
assay interval of 5.2m @ 7.80% MnO from 14.05-19.25m.
Follow-up will focus on Moshaneng and will include geophysical
surveying to help delineate the extension of the Moshaneng trend,
preliminary mineralogical and process recovery test work to
establish the amenability of the mineralisation to upgrading to
battery grade manganese, and follow-up/infill RC drilling.
Hope and Gorob Project, Namibia
A decision from the Ministry of Mines and Energy regarding the
Hope and Gorob mining licence application ML 246 remains pending.
Exclusive Prospecting Licence 5796 has been extended to 19 October
2024. EPL 5796 is the licence within which the area of mining
licence application ML 246 has been made.
Further work on the drill core generated during the most recent
programme to test near-surface mineralisation has been completed
and the new database is under review by external resource
consultant Addison Mining Services with a view to generating an
additional open pit Mineral Resource Estimate in Q2 2023 to
complement the existing underground resource.
Personnel familiar with the Matchless Belt geology and in
particular the Hope and Gorob style of mineralisation have been
recruited to manage the next phase of exploration to test the
balance of the known and projected strike length and other defined
targets. Exploration will focus on additional drilling and it is
aimed to commence this programme in Q2 2023.
For further information, please contact:
Bezant Resources Plc
Colin Bird
Executive Chairman +44 (0)20 3416 3695
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 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:
"mineralisation" Process of formation and concentration of
elements and their chemical compounds within
a mass or body of rock
"MnO" Manganese oxide
"shale" A fine-grained laminated sediment
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END
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