Bezant Resources (AIM: BZT), and Caerus Mineral Resources (LON: CMRS) the exploration and resource development companies (the “Companies”) with a Joint Venture (“JV”) focused on the Troulli Mine Development Project and other copper-gold JV targets in Cyprus.
Are pleased to provide Shareholders with the drill results for the Anglisides Licence, a satellite project of the Troulli Joint Venture.
The ten-hole diamond drill programme announced on 27 April 2022 was expanded to sixteen holes and has been completed to test the near-surface copper potential for the Anglisides Licence and the assay results for the first eleven drill holes have been received. Anglisides forms part of the JV between the Companies and represents a potential satellite mineral resource that could be delivered to the Troulli central processing hub.
Assays have been received for eleven recently completed drillholes for the Anglisides Licence.
Table 1: Drill Results indicating selected mineralisation for the Anglisides Licence Diamond Drill Programme are as follows:
· Notable copper equivalent intercepts achieved for ten of the eleven holes drilled.
· Results validate the drill programme and confirm the presence of near-surface mineralisation that could potentially be fed into any future Troulli processing plant.
· Results will be reviewed by external consultant, Addison Mining to determine the extent of any infill drilling required before a JORC (2012) Mineral Resource can be estimated.
· The presence of easily accessible copper mineralisation at Anglisides offers an opportunity to increase the global Troulli JV Mineral Resource and extend the projected life of mine.
Commenting on the drill results, the Chairman of Bezant, Colin Bird said ” We are very pleased with this round of results from the Anglisides deposit. We are pleased with the widths and the associated grades. It would appear that this material will be in general free digging and will not require its own dedicated process plant, since Troulli is a truckable distance and the proposed plant will be fit for purpose. The addition of Anglisides suggest that our original prognosis of 8,000 tonnes per year contained copper for 8 years, is very feasible. We are about to commence detailed engineering, which will include the phasing of ore types for early payback, thus maximising overall profitability.”
Commenting on the drill results, the CEO of Caerus, Charlie Long said “Anglisides is approximately 25km from Troulli and a potential satellite operation. It is therefore important that Anglisides material is sufficiently valuable to allow for the extra trucking cost. With that goal in mind, these excellent drilling results, which show near surface mineralisation and copper equivalent grades of up to 2.36%, are very encouraging. The current plan envisages constructing a central plant at Troulli capable of processing various ore types. These would include near-surface oxides such as Anglisides’ gossans, deeper sulphide ores discovered at Troulli, as well as surface material, dumped or left unprocessed when mining stopped abruptly in the 1970’s.”
For further information, in relation to the Companies please contact:
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