Geophysical Surveying at Kanye Manganese Project

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  Colin Bird Executive Chairman	[phone]
Beaumont Cornish (Nominated Adviser)  Roland Cornish / Asia Szusciak	[phone]
Novum Securities Limited (Joint Broker) Jon Belliss	[phone]
Shard Capital Partners LLP (Joint Broker) Damon Heath	[phone]

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).

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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