Explorer to acquire interest in Zambian copper licence
Aim-listed copper/gold explorer Bezant Resources entered into a binding memorandum of agreement with horizontally integrated holding company KPZ International last month for a conational option to acquire 50% interest in the Buffalo copper/ gold exploration project, in Zambia.
Under the terms of the agreement, Bezant is required to complete an initial assessment of the licence area held under mining licence number 15164-HQ-SML, at a cost of up to $200 000 by February 1, 2020. Bezant will, throughout the phase, retain the right, at its sole discretion, to cease expenditure on the initial assessment and withdraw from the option.
The licence is situated in the Central Zambian iron oxide copper-gold (IOCG) belt about 300 km north-west of Lusaka, which remains underexplored, compared with the more well-established Zambian copper belt.
“The Central Zambian IOCG belt has significant exploration potential, but has always played a secondary role to the main copper belt in Zambia to the north which has hosted many large, world-class underground copper mines,” Bezant executive chairperson Colin Bird noted in a company statement.
He stated that Bezant will start its initial assessment on clearly defined veins with apparent significant strike, and the potential future opportunity to start small-scale mining supplying ore to third-party processing plants.
Bezant CEO Laurence Read added that this agreement fits well with the company’s global copper mission and that it “intends to swiftly assess and analyse all potential copper development opportunities for the Buffalo project with a view to maximising value creation for all of our stakeholders”.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation