Business
Update of Drilling Programme
Update of Drilling Programme.
About this update from Bezant Resources Plc
[{"type":"text","content":"\n Bezant Resources PLC\n23 April 2008\n\nBezant Resources Plc\n('Bezant' or the 'Company')\n\n\nADDITIONAL DRILL RIG ON SITE AT THE MANAKAYAN PROJECT, PHILIPPINES\n\nHighlights:\n\nThird core drill rig has arrived on site to assist the two drill rigs already in\noperation\n\nOn target for updated inferred JORC Compliant resource estimate by mid 2008.\n\nThird hole (BRC-52) is at a depth of 1,210m\n\nFourth hole (BRC-53) has reached a depth of 630m\n\n\nBezant (AIM: BZT), the AIM listed exploration and development company with gold\nand copper assets in the Philippines and gold assets in Tanzania, today\nannounces that a third core drilling rig is in situ on the Company's Mankayan\ncopper gold project in the Philippines and is expected to commence drilling\nbefore the end of this month.\n\n\n\nThe fully funded two year exploration programme for the Mankayan Project, which\ncommenced in September 2007, has a total budget of US$3 million. The additional\ndiamond drill rig will enable Bezant to accelerate its ongoing 11,000 metres\ndrilling campaign and to achieve its primary objective for the project, of being\nready for development during 2009. In addition to the current drilling\nactivity, the Company is also in the process of completing its analysis of\napproximately 12,000 metres of historical drilling core and the provision of\ninfill drilling in order to improve the resource classification. Historically,\nbased on analysis of 33,000 metres of drilling on the site, the resource has\nbeen estimated to be in the order of 166 million tonnes, equating to\napproximately 1.9 billion pounds of copper and 2.9 million ounces of gold at a\n0.4 % Copper Cutoff (source: Nichols 1996 & Peatfield 1997).\n\nIn the course of current quarter Bezant expects to be in a position to announce\nthe complete assay results in respect of the current holes BRC-52 & 53, as well\nas an independently verified interpretation of the historical exploration data.\n Subject to the timely receipt of such further results and consultations with\nthe Snowden Group, the Company's independent technical consultant, Bezant\nanticipates announcing a JORC Compliant inferred resource by the end of this\ncurrent financial quarter. The Company's main goal by the end of the 2009\nfinancial year is to achieve an updated JORC Compliant indicated/measured\nresource for...