News

July 21, 2008

Once You Crunch Up All The Numbers, Bezant Resources Turns Out To Have A Tasty JORC Resource At Mankayan

By Alastair Ford

“It’s all moving along nicely”, says Bernard Olivier of Bezant Resources. He’s in town to draw the market’s attention to the latest update from the company’s Mankayan project in the Philippines. Following a review of historic drill data by consultants Snowden, Bezant has been able to report a JORC inferred resource of 277.7 million tonnes grading 0.5% copper and 0.42 grammes per tonne gold. The company is also currently two thirds of the way through its own drill programme, the aim of which is to move those numbers rapidly into the indicated category in advance of a pre-feasibility study, due out in the first half of next year.

According to the Bezant number crunchers, the overall copper equivalent grade at Mankayan is 0.73%, using a 0.4% copper cut off. And since reporting in that manner is strictly against the Aim guidelines, Bezant’s press release is littered with asterisks. The company used a long-term copper price of US$1.20 per pound, and a long-term gold price of US$450 per ounce. If that seems on the conservative side, consider the following explanation, lifted from the press release verbatim: “CuEQ equals Cu...