16th Oct 2013 08:54
LONDON (Alliance News) - Bezant Resources said Wednesday it had completed its Phase One exploration programme at the Eureka resource site in north-west Argentina.
The firm said the trenching campaign at the near-surface copper-gold resource in the Jujuy province had produced encouraging results of an average 1.68% copper content for the samples assayed. Bezant said that assay results to date strongly support the potential of the project and confirm the value of previous samples.
The exploration and development company said it took 68 samples from 17 trenches, with trenching activity including extensions to existing work and infilling to demonstrate the continuity of mineralised bodies. In a statement, the firm said that high copper in fines and low content of acid consuming minerals are positive features of the mineralisation at its wholly-owned site.
Bernard Olivier, Chief Executive Officer of Bezant, said, "The 1.68% average copper content from our trenching work confirms our belief that Eureka hosts a valuable near surface copper-gold resource. Located near established infrastructure in an area with a history of profitable small-scale mining, we continue to assess the viability of Eureka through our ongoing considered exploration work programme.
"We are further encouraged by the high copper assay results and geological similarities between the known Eureka I mine area and the samples taken along a potential southern extension over the 10km of the mineralised zone," said Olivier.
Phase One of Bezant's exploration project at the Eureka site began in June 2013, following approval of the Environmental Impact Assessment. Samples were prepared on site and then dispatched to ALS Geochemistry in Mendoza, Argentina, for copper and multi-element analysis.
Shares in Bezant were down 1.37% Wednesday morning, trading at 18 pence per share.
By Alice Attwood; [email protected]; @AliceAtAlliance
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