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Bezant receives Eureka updated EIA approval

Bezant Resources has received updated environmental compact assessment (EIA) approvals for its Eureka project in Argentina, allowing additional exploration including drilling.
Bezant receives Eureka updated EIA approval Bezant receives Eureka updated EIA approval Bezant receives Eureka updated EIA approval Bezant receives Eureka updated EIA approval Bezant receives Eureka updated EIA approval

Bezant's Eureka project in Argentina

Staff reporter

The director of mining and energy resources of the Jujuy Secretariat of Mining and Hydrocarbons granted the two-year approvals. 

Bezant is seeking a South America-focused joint venture partner capable of financing a drilling campaign.

While it continues to identify and assess suitable potential JV partners for Eureka's development, Bezant will hold off drilling, but prepare for it by defining primary drill targets on the area of focus.

CEO Laurence Read said the updated EIA approvals would enable the company to move forward with its stated JV strategy to undertake drilling on the project and determine the size and type of resource beneath the historically mined area.

"The hypothesis we are pursuing is that there is both near-surface sedimentary copper sufficient in grade to be mined in the future as well as high-grade feeder zones within 300m beneath surface," he said.

Bezant's shares (AIM:BZT) dropped 6% Monday 0.075p (US0.096c).