REG - Bezant Resources PLC - Hope & Gorob Optimisation & Geotechnical Drilling

Bezant ResourcesAnnouncement

07/11/2024 07:00

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RNS Number : 2772L  Bezant Resources PLC  07 November 2024

7 November 2024

 

Bezant Resources PLC

("Bezant" or the "Company")

 

 

Commencement of Optimisation and Geotechnical Drilling at Hope & Gorob
Copper - Gold Project, Namibia

 

Following the recent granting of a Mining Licence M246, subject to statutory
approval (the "Mining Licence"), and the renewal of adjoining exploration
licences Bezant Resources ("Bezant" or the "Company") is pleased to announce
it has commenced a drill programme on the Hope & Gorob deposit located
in Namibia in which Bezant holds a 70% interest.

 

Highlights

 

·     Large diameter diamond core drilling is aimed at providing fresh
mineralisation samples for ore sorting optimisation and modulation work and
the collection of drill core for geotechnical assessment.

 

·     Final external review of operating facilities has been completed
by specialist consultants and subsequent reports are expected to confirm
capital cost estimates and proposed metallurgical flow sheets.

 

·     External metallurgical engineers have also been requested to
provide plant configuration, operation options that would allow for an
increase in plant throughout capacity.

 

·     The Company will be placing adverts nationally to ensure all
Namibians are able to apply for a wide range of employment opportunities.

 

 

Colin Bird, Executive Chairman of Bezant, commented "Following the issuing of
the Mining Licence and ahead of completion of other statutory requirements, we
are advancing all the underlying matters required to bring a mine into
production and we are taking the opportunity to closely define the start point
for the initial pit entry onto the Hope deposit. The objective is to maximise
early cash flow as much as possible by predicting ground conditions and
associated factors that might impact on mining and the optimisation and
modulation of the various ore sorting technologies that will be applied.

 

The tasks are numerous and intensive, and the team should be complemented on
the pre-licence work completed. This excellent progress to date has condensed
and focused our programmes and more importantly defined critical paths. We
also look forward to continuing exploration on our southern Matchless
exploration licences that total more than 70km strike length, 17km of which
occur within the Hope and Gorob Licence".

 

 

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.

 

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