Business
Drilling Programme
Drilling Programme.
About this update from Bezant Resources Plc
[{"type":"text","content":"\n Bezant Resources PLC\n23 August 2007\n\n Bezant Resources Plc ('Bezant')\n \n Drilling programme on the Mankayan project in the Philippines\n to commence in September 2007\n \nHighlights:\n\n• 11,000 metres of diamond drilling over 10 holes using two rigs\n• Drilling to commence in September 2007\n• First assay results expected at the end of Q4 2007\n• Previous historic drilling revealed a substantial resource estimate of 1.9bn pounds of contained copper and 2.9m \nounces of gold\n\nBezant (AIM: BZT), the AIM listed exploration and development company with gold and copper assets in Tanzania and the \nPhilippines, is pleased to announce that its Filipino partner on the Mankayan project, Crescent Mining and Development \nCorporation ('Crescent'), has signed a drilling contract with Primo Asia Mining and Drilling Inc, one of the leading \nFilipino drilling companies. A minimum of 11,000 metres of diamond drilling over 10 holes will commence in September \n2007, the first assay results of which are expected in the fourth quarter of 2007.\n\nThe purpose of the drilling programme is to further define the copper/gold asset already known to be present in the \nlicence area.\n\nMore than 45,000 metres have been drilled historically and past analysis of 33,000 metres of core revealed a \nsubstantial resource estimate of 1.9 billion pounds of contained copper and 2.9 million ounces of gold.\n\nClive Sinclair-Poulton, Chief Executive commented:\n'We are fortunate to already have a wealth of information from the historic 45,000 metres of drilling. This next phase \nwill allow us to further define the quality of the asset. We are very positive of this next stage of our operations in \nthe Philippines'.\n\nNotes for editors:\n\nCrescent Mining and Development Corporation is the holder of an MPSA exploration licence in the Guinaoang area, 240 \nkilometres north of Manila in the Philippines.\n\nThe licence covers a total of 534 hectares and is 60 per cent. owned by Crescent and 40 per cent. by Asean Copper \nInvestments Limited, a 100 per cent. owned subsidiary of Bezant.\n\nAll foreign owned companies, under Filipino law, must have a Filipino partner until they move up to a mining licence \nfrom the MPSA, or exploration licence, when they can then hold 100 per cent. of the asset.\n\nBezant (www.bezantresources.com) is focused on the ...