Sign up Australia
Proactive Investors - Run By Investors For Investors

Bezant Resources surges as it green lights scoping study at Choco

Grades and trial mining analysis have to date confirmed reported grades and conditions from historic third party mining operations.
FKJ-083 at Choco
Open pit at licence FKJ-083 being developed (pic supplied by Bezant Resources)

Bezant Resources plc (LON:BZT) is to commission an independent scoping study at the tasty-sounding Choco gold-platinum project in Colombia.

The group said the recovery analysis programme remains on schedule, and that initial surface and shallow pit sampling had been successfully completed.

In all, 105 individual samples of alluvial material have been collected from the FKJ-083 licence area.

Phase one of the large pit trial has been completed, and phase two, which will see work extend to deeper levels, has kicked off.

Grades and trial mining analysis have to date confirmed reported grades and conditions from historic third party mining operations.

The bedrock depth varies within an estimated range of between 18 and 30 metres from surface. Simple minerals processing methods and equipment can efficiently recover the platinum and gold metals; therefore, while each site would have its own particular costs, it is possible to prepare a general model for alluvial mining operations from data obtained from alluvial mining operations in sites similar to licence FKJ-083.

The next step is preparation of a financial scoping study, which will principally be based on results from the pilot open pits and cost models from comparative alluvial operation in Colombia.

It is expected the study will be completed in the first quarter of the current year.

"Our focus is on rapidly establishing a low cost, at surface, dry mining portfolio of gold and platinum plants in this major platinum region of Colombia. My belief is that our model will ultimately unlock a new concept for producing economic platinum and gold,” said Ed Nealon, chairman of Bezant.

Judd van den Brenx, of Bezant’s mining contract partner Exumax, added: “On a personal level, as an alluvial miner, I am truly excited to be working in the Choco region where I believe the potential is second to none."

Shares in Bezant shot up 16.2% to 2.47p on the news.



John-H.jpg
Why Invest In Bezant Resources plc? Read More Here

Register here to be notified of future BZT Company articles
View full BZT profile View Profile

Bezant Resources plc Timeline

Related Articles

Bjorkdal.jpg
April 14 2017
In the three months to March 31 this year, Mandalay produced 32,481 ounces of gold equivalent from the three mines
Gold Road Resources' Ian Murray with investors at Proactive's CEO Sessions
October 06 2017
Ian Murray discussed gold exploration plans with investors at Proactive's CEO Sessions.
picture of miners
September 04 2017
In August, the Aussie-listed group said production to June 2018 should be between 80,000-90,000 ounces of gold.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use