Business
Resource Upgrade, Mankayan Pr
Resource Upgrade, Mankayan Pr.
About this update from Bezant Resources Plc
[{"type":"text","content":"\n RNS Number : 5393V Bezant Resources PLC 13 July 2009 \nBezant Resources Plc\n('Bezant' or the 'Company')\n\nJORC Compliant Resource Upgrade,\n Mankayan Project, Philippines\n\nSnowden independent JORC compliant Highlights:\n\n\n\nMineral Resource upgraded to 221.6 million tonnes Indicated and 36.2 million tonnes Inferred at a 0.4% copper cut-off:\n\n\nNew Indicated Resource of 2.42 billion pounds (1.1 million tonnes) of copper and 3.7 million ounces of gold: \n\n\nNew Inferred Resource of 0.44 billion pounds (0.2 million tonnes) of copper and 0.6 million ounces of gold: \n\n\nIndependent upgrade of total resource, reported by Snowden Mining Industry Consultants Pty Limited, in accordance with the 2004 JORC Code:\n\n\nBezant's 24 month drilling campaign has resulted in both a resource category upgrade and an overall resource increase from historical estimates of approximately 1 billion pounds of copper and 1.4 million ounces of gold\n\n\nHistorical resource estimate at time of acquisition of 166 million tonnes with 1.9 billion pounds of copper and 2.9 million ounces of gold \n\n\nNew resource estimation represents an approximate 52% copper content increase and a 48% gold resource increase: \n\n\n\n\nIndicated Resource equal to approximately 86% of total resource. \n\n\nBezant (AIM: BZT), the AIM listed gold and copper exploration and development company operating in the Philippines and Tanzania, today announces an upgrade of its JORC compliant mineral resource as set out in Table 1.\n\nTable 1. Total Mankayan Mineral Resource as at July 2009 (0.4% Cu cut-off)\n\n\n\n\n\nJORC (2004) Resource Category\n\n\nTonnes\n(Mt)\n\n\nCu (%)\n\n\nAu (g/t)\n\n\nCu metal tonnes \n(Mt)\n\n\nCu metal pounds (billion)\n\n\nMetal Au (MOzs)\n\n\n\n\nIndicated\n\n\n221.6\n\n\n0.49\n\n\n0.52\n\n\n1.1\n\n\n2.42\n\n\n3.7\n\n\n\n\nInferred\n\n\n36.2\n\n\n0.44\n\n\n0.48\n\n\n0.2\n\n\n0.44\n\n\n0.6\n\n\n\n\n\n\nThe independent technical report, dated July 2009, commissioned from Snowden Mining Industry Consultants Pty Ltd ('Snowden') of West Perth Australia, provides further confirmation of the Company's belief that its Mankayan Project represents a world-class copper and gold deposit. The upgraded resource estimate approximates to 2.9 billion pounds of copper and 4.3 million ounces of gold withi...