9th Aug 2022 11:42
(Alliance News) - Shares rose in Bezant Resources PLC on Tuesday as the company submitted its mining licence application alongside an exploration licence renewal application for the Hope and Gorob project in Namibia.
Shares in the copper-gold project developer were 26% higher at 0.12 pence on Tuesday morning in London.
The application is based on an updated scoping study completed in May, which indicated that the potential of the development of a surface and underground copper mine exists, and recommended that additional work for optimising mine development plans is completed.
So far, continuous copper and gold mineralisation has been intersected in drill intercepts over downhole widths of up to 29.7 metres.
The completion of the scoping study and submission of the mining licence application for the Hope-Gorob project represents a significant project milestone. The study indicates the potential for the development of a surface and underground copper mine at the Hope and Gorob deposits. The company will continue refining and finessing all the engineering required to bring the project forward towards production," said Executive Chair Colin Bird.
By Dayo Laniyan; [email protected]
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