TIDMBZT
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 -50(o) 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 Plc
Colin 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, CuFeS(2)
, 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, Fe(3) O(4)
"pyrite" Iron sulphide mineral, FeS(2)
"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
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END
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