REG - Bezant Resources PLC - Geophysical Surveying at Kanye Manganese Project

Bezant ResourcesAnnouncement

27/08/2024 07:00

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RNS Number : 6861B  Bezant Resources PLC  27 August 2024

 27 August 2024

Bezant Resources Plc

("Bezant" or the "Company")

Geophysical Surveying Extends Potential Target at Kanye Manganese Project

 

Bezant (AIM: BZT) is pleased to provide information on the positive outcome
of geophysical surveying during August at its 100% owned Kanye manganese
project in Botswana which was planned to assist in extending the potential
footprint of the deposit.

 

Highlights:

 

·    IP/resistivity geophysical surveying has traced near surface areas of
high conductivity/low resistivity which could reflect manganiferous
mineralisation for about 900m to the NW of the previously exposed manganese
occurrence in the Moshaneng borrow pit, making 1.4km of potential target
strike extent in total.

 

·    The geophysical anomaly extends up to 300m width in places, double
that in the area already drill tested, and remains open further to the NW
beyond the limit of the survey.

 

·    Follow-up RC drilling will be planned to confirm possible mineral
continuity and grade. If mineralisation of economic interest is found by
drilling then an extension to the IP survey is recommended to follow the
strike further.

 

 

Colin Bird, Executive Chairman of Bezant, commented: "We have previously
discovered pods of high grade manganese mineralisation at the Moshaneng
prospect and have sought to extend the deposit footprint. Therefore we are
strongly encouraged by initial indications from the geophysical survey of
potential for a wider zone of continuous mineralisation over at least 900m of
strike, with the target still open further to the NW. We plan to follow up
with drilling to confirm possible mineral continuity and grade and ultimately,
dependent on the results, extend the resource.

Previously metallurgical recovery test work has demonstrated excellent overall
manganese recovery, with a product potentially suitable for processing to high
purity manganese."

 

 

Figure 1 - IP Chargeability profile across the Moshaneng deposit extension -
purple-red colours are strongly anomalous

 

 

Background - as previously announced

 

The Project Area lies just NW of Kanye Village some 65km SW of Gaborone, the
capital city of Botswana and is close to the K-Hill manganese deposit where a
TSX listed public company has recently completed a PEA.

 

On 9 February 2023 Bezant announced the results of a maiden drilling programme
at the Moshaneng prospect on the Kanye property. Drilling intersected a zone
of shallow 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

 

Less than 25% of the more than 2km potential extent of the target defined by
soil geochemistry has been drill tested to date.

 

Sulphuric acid leaching optimisation testwork on Kanye drill samples found
that manganese recoveries of 99.4% were achievable at moderate process
conditions. The Kanye manganese deposit demonstrates an excellent overall
manganese recovery using moderate leaching conditions compared with
benchmarked projects.

 

Having established that the Kanye mineralisation is potentially suitable for
processing to high purity manganese, the Company is now working to expand the
footprint of the deposit and advance towards resource definition. Further
metallurgical test work will be considered at a later stage of project
advancement.

 

For further information, please contact:

 Bezant Resources Plc

+44 (0)20 3416 3695
 Colin Bird Executive Chairman
 Beaumont Cornish (Nominated Adviser)       +44 (0) 20 7628 3396

Roland Cornish / Asia Szusciak
 Novum Securities Limited (Joint Broker)

 Jon Belliss                                +44 (0) 20 7399 9400
 Shard Capital Partners LLP (Joint Broker)

 Damon Heath                                +44 (0) 20 7186 9952

Beaumont Cornish (Nominated Adviser)

Roland Cornish / Asia Szusciak

+44 (0) 20 7628 3396

Novum Securities Limited (Joint Broker)

Jon Belliss

 

+44 (0) 20 7399 9400

Shard Capital Partners LLP (Joint Broker)

Damon Heath

 

+44 (0) 20 7186 9952

 

or visit http://www.bezantresources.com (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).

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

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.

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