Update re Choco Gold-Platinum Project, Colombia

RNS Number : 0005T

Bezant Resources PLC

09 October 2017

 

9 October 2017

Bezant Resources Plc

("Bezant" or the "Company")

Update re Choco Gold-Platinum Project, Colombia

Bezant (AIM: BZT), the AIM quoted gold and platinum mining company, is pleased to announce an update on progress at its gold and platinum production operations, currently focused on the FKJ-083 licence area, in the Choco region, Colombia (the "Choco Project").  

Following the completion of the current stage of open pit development and infrastructure work, as announced on 5 October 2017, the Company has now commenced extraction and processing of the higher-grade virgin gravels from the within the deeper levels of the open pit.

Commenting today, Bernard Olivier, CEO of Bezant, said:

"I am happy to report that we have now commenced first extraction and processing of the higher-grade gravels and look forward to announcing some of the initial grades achieved from the higher grade material in the coming weeks. The scoping study, as announced in March 2017, calculated an estimated break-even grade of 0.17 grammes per tonne (238mg/m³) for combined Pt and Au. The verification of the grade of the virgin gravels target zone we are now mining is our priority, before progressing into volume expansion. Once we have adequately assessed the recoveries from the higher-grade gravels versus our estimated break even point, we shall then commence with the next phase of production ramp-up"

For further information, please contact:

Bezant Resources Plc Bernard Olivier Chief Executive Officer Laurence Read Executive Director / Communications Officer        Strand Hanson Limited (Nomad)  James Harris / Matthew Chandler / James Dance Peterhouse Corporate Finance Limited (Broker)  Lucy Williams / Duncan Vasey / Heena Karani Beaufort Securities Limited (Broker)  Elliot Hance or visit http://www.bezantresources.com

Tel: [phone] Tel: [phone] Tel: [phone] Tel: [phone] Tel: [phone]

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.

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