Bezant Resources PLC finds significant copper intercept at Zambia mine

Bezant Resources PLC (LON:BZT) announced it has found a significant copper intercept in its first drill hole at the Minemba prospect within the Kalengwa exploration project area in Zambia.

The exploration and development company has a 30% interest and acts as operator at the site.

READ: Bezant Resources starts testing for drill programme in Zambia

Preliminary hand-held measurements, which are to be confirmed with geochemical assays taken from half-core samples, returned 94 metres at 0.79% copper grade, including 13 metres at 1.17%, 10 metres at 2.14% and 15 metres at 1.32%.

Limited historic drilling in the late-1960s at Minemba, which is four kilometres from the former Kalengwa mine, intersected narrow zones of copper mineralisation up to 4.3 metres wide.

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.

The AIM-listed firm said the scale of the new intercept significantly extends the potential target size and the discovery of mineralised conglomerate.

The drill rig will now move to commence the planned second hole at Minemba.

Bezant’s executive chairman Colin Bird said in a release that the Minemba prospect is one of the identified intrusive-related targets which were ready for drill testing.

“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 2mln tonnes of ore at an average of 9.44% copper representing one of the richest copper deposits discovered in Zambia,” he commented in a release.

“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.”

Shares surged 11% to 0.25p on Monday afternoon.