Bezant completes acquisition of Kanye project, Namibia licence

Copper-gold exploration and development company Bezant Resources announced the completion of its acquisition of Metrock Resources and its manganese mineral exploration licences in southern Botswana on Friday, comprising the Kanye Manganese Project.

The AIM-traded firm also announced that licence EPL 7170, which was under application when it acquired Virgo Resources, had now been granted and was now registered in the name of its 80%-owned subsidiary Hope Namibia Mineral Exploration, incorporated in Namibia, which also owns EPL 6605.

It noted that it also owns EPL 5796 through its 70%-owned subsidiary Hope and Gorob Mining, also incorporated in Namibia.

“We are excited regarding the completion of the acquisition of Metrock and its Kanye Manganese Project which is in an area which has clear evidence of high manganese grades suitable for use in battery metals,” said executive chairman Colin Bird.

“We have commenced planning an initial exploration programme involving reconnaissance field work and trenching and drilling as appropriate.”

Bird added that the acquisition of EPL 7170 was “very exciting” in that the company now had a 130 kilometre tract in the Matchless Copper Belt, which had not been explored and was said to be highly prospective.

“The area will be helicopter flown in the first half of this year to expedite target generation and hopefully expand our copper gold inventory in the area.

“This at a time when the medium term price outlook for copper continues to increase with reports on scarcity of new projects and increasing demand due to the acceleration of global electric vehicle production.”

At 0902 GMT, shares in Bezant Resources were up 9.91% at 0.26p.