06/10/2008
Bezant Resources claims ‘extremely encouraging ‘ assay results from its Mankyan copper and gold project in the Philippines.
The London-based company, whose AIM-quoted shares have plunged since last year, says 792 metres of intersections in Mankyan’s drill hole BC-55 have revealed 165 metres averaging a satisfactory 0.65 per cent copper as well as a more modest 0.76 grammes of gold and 1.5 grammes of silver per tonne of ore.
Executive chairman Gerry Nealon, who in July suggested Mankyan might hold three million lbs of copper and 3.8 million oz of gold, argues that the latest assay results ‘are extremely encouraging with regards to potential upgrading of certain areas of our Mankyan resource to indicated status’.
Floated as Voss Net at 143p 13 years ago before changing to Tanzania Gold and now Bezant, the company’s shares have fallen from 125p in July last year to 19p today, 1p up from September’s low. They remain speculative.
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