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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.

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