Bezant Resources PLC Operational Update (1108M)
10 October 2016 - 8:25PM
UK Regulatory
TIDMBZT
RNS Number : 1108M
Bezant Resources PLC
10 October 2016
10 October 2016
Bezant Resources Plc
("Bezant" or the "Company")
Operational Update, Platinum and Gold Mining Project,
Colombia
Bezant (AIM: BZT), the AIM quoted mineral exploration and
development company, announces an operational update including
completion of the equipment mobilisation and commissioning of the
exploration processing plant on site at the FKJ 083 licence in the
Choco Province of Colombia. As previously announced, Bezant is
working with mining contractor partner Exumax S.A.S. ("Exumax") to
engage in a planned 24-month exploration and development programme
to explore near surface, Colombian platinum and gold assets (the
"Colombian Projects") over which the Company holds certain option
rights, including the FKJ 083 licence area. The terms of the
options held by the Company over the Colombian Projects remain as
announced by the Company on 16 November 2015.
Highlights:
o Exploration processing plant mobilised to site and commissioned
o Required earth moving machinery on site
o Preparations for first test pit and sampling are scheduled to commence imminently
o Operations team engaged and geological and exploration work has begun
o Laboratory established at camp and local Colombian workers
undergoing training to process and record results within this
environment
o Both historical tailings and virgin ground to be processed and
analysed as part of the exploration process
o OBJECTIVE: Rapidly establish production economics of FKJ 083,
correlating historic mining data from previous operations with
processing results
-- Establish first producing alluvial plant for gold and
platinum
-- Begin pipeline of further test pitting to establish
prospective production zones
Following the mobilisation of Exumax to site the alluvial
processing plant has now been commissioned and mechanical testing
has been successfully concluded. The objective of the testing was
to monitor the plant's ability to process consistent levels of
throughput.
With all required machinery, earth-moving equipment, processing
plant and work crews on site, preparation for the first exploration
test pit is scheduled to commence at the previously mined FKJ 083
licence imminently. The operations team has also been engaged and
preliminary exploration and geological work has begun. The
objective of the exploration work programme is to correlate test
results with historic mining data from the licence through
examining recovery rates from a series of test pits across the
target areas. The laboratory, where concentrate will be sent for
final processing and examination, is complete and the local
Colombian team is being trained to record results under
supervision. The work programme will cover the testing and
evaluation of all the different alluvial layers to bedrock as well
as historical tailings located on the licence area. This will allow
the full potential of the licence area to be evaluated and also
build up a profile of the primary platinum and gold depositional
environments and other key alluvial characteristics in the
area.
Further announcements will be made as appropriate on the
progress of the initial work programme and the project in general.
It is the Company's intention to rapidly establish the economic
viability of the Choco region as a low cost, near surface
gold-platinum recovery operation and replicate production plants
across the area.
Bernard Olivier, CEO of Bezant, commented:
"With mobilisation and commissioning of the mobile testing plant
now complete, we are ready to commence exploration and bulk
sampling. I am happy to report that the partnership with Exumax is
working very efficiently. I look forward to updating the market
shortly regarding progress with the exploration and sampling
programme as well as the anticipated first recovery of platinum and
gold."
For further information, please contact:
Bernard Olivier
Chief Executive Officer, Bezant Resources Plc Tel: +61 40 894 8182
Laurence Read
Executive Director / Communications Officer, Bezant Resources Tel: +44 (0)20 3289 9923
Plc
James Harris / Matthew Chandler / James Dance Tel: +44 (0)20 7409 3494
Strand Hanson Limited
Elliot Hance Tel: +44 (0)20 7382 8300
Beaufort Securities Limited (Broker)
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 ("MAR").
Notes to Editors:
Bezant is an AIM quoted mineral exploration and development
company with operations in Colombia, the Philippines and Argentina.
The Company's ordinary shares of 0.2 pence each are traded under
the ticker AIM: BZT, with identification code GB00B1CKQD97.
Exumax S.A.S. (www.exumax.co) is a private Colombian based mine
operating company with over 6 years' mine operating experience in
Colombia and has a well-established Colombian based team that can
provide a turnkey exploration solution to Bezant's wholly owned
Colombian subsidiary, Ulloa Recursos Naturales SAS ("Ulloa"). The
principals of Exumax have over 50 years of combined operating
experience in the mining and construction industry in South America
and in this period have developed extensive proprietary mining
expertise. Exumax own and have imported special purpose alluvial
mining equipment from New Zealand, where such operations are
common, for use in low-cost alluvial extraction projects focused on
precious metals. Exumax's activities will be led by Judd van den
Brenk, a fluent Spanish speaker, with 6 years' alluvial mining
experience in Colombia. Exumax have operated a series of alluvial
projects in Colombia and prioritise community relations and
environmental management work as key components to building
successful mining operations in-country.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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