Bezant rises on results from Anglisides drilling

Bezant Resources updated the market on drill results from the Anglisides Licence on Wednesday - a satellite project of its Troulli copper-gold joint venture with Caerus Mineral Resources in Cyprus.

The AIM-traded firm said the 10-hole diamond drill programme, announced on 27 April, was expanded to 16 holes, to test the near-surface copper potential for Anglisides.

It said the assay results for the first 11 drill holes had been received, with “notable” copper-equivalent intercepts achieved for 10 of the 11 holes drilled.

Bezant said the results validated the drill programme, and confirmed the presence of near-surface mineralisation that could potentially be fed into any future Troulli processing plant.

The company said the results would be reviewed by external consultant Addison Mining to determine the extent of any infill drilling required before a JORC-compliant mineral resource can be estimated.

It added that the presence of “easily accessible” copper mineralisation at Anglisides offered an opportunity to increase the global Troulli joint venture mineral resource, and extend the projected life-of-mine.

“We are very pleased with this round of results from the Anglisides deposit,” said chairman Colin Bird.

“We are pleased with the widths and the associated grades.

“It would appear that this material will be in general free digging, and will not require its own dedicated process plant, since Troulli is a truckable distance and the proposed plant will be fit for purpose.”

Bird said the addition of Anglisides suggested that the original prognosis of 8,000 tonnes per year contained copper for eight years was “very feasible”.

“We are about to commence detailed engineering, which will include the phasing of ore types for early payback, thus maximising overall profitability.”

At 1111 BST, shares in Bezant Resources were up 5.56% at 0.14p.

Reporting by Josh White at Sharecast.com.